Wall Street analysts expect Tutor Perini Corp (NYSE:TPC) to report sales of $1.35 billion for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Tutor Perini’s earnings. The highest sales estimate is $1.45 billion and the lowest is $1.26 billion. Tutor Perini posted sales of $1.19 billion during the same quarter last year, which would indicate a positive year over year growth rate of 13.4%. The firm is expected to announce its next earnings report on Tuesday, February 26th.
According to Zacks, analysts expect that Tutor Perini will report full year sales of $4.59 billion for the current year, with estimates ranging from $4.51 billion to $4.72 billion. For the next financial year, analysts forecast that the business will report sales of $5.11 billion, with estimates ranging from $4.98 billion to $5.33 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Tutor Perini.
Tutor Perini (NYSE:TPC) last released its earnings results on Wednesday, November 7th. The construction company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.32). The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.35 billion. Tutor Perini had a net margin of 2.58% and a return on equity of 4.35%. The business’s revenue was down 6.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.47 earnings per share.
Several equities analysts have recently issued reports on TPC shares. B. Riley reduced their target price on Tutor Perini from $28.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, August 8th. Zacks Investment Research raised Tutor Perini from a “sell” rating to a “hold” rating in a report on Friday, August 10th. MKM Partners set a $28.00 target price on Tutor Perini and gave the company a “buy” rating in a report on Tuesday, August 28th. ValuEngine lowered Tutor Perini from a “sell” rating to a “strong sell” rating in a report on Saturday, September 22nd. Finally, UBS Group set a $24.00 target price on Tutor Perini and gave the company a “buy” rating in a report on Thursday, November 8th. Two analysts have rated the stock with a sell rating and seven have issued a buy rating to the company. Tutor Perini presently has a consensus rating of “Buy” and a consensus price target of $27.57.
In other news, Director Sidney J. Feltenstein acquired 20,000 shares of Tutor Perini stock in a transaction on Monday, November 12th. The stock was acquired at an average cost of $17.23 per share, with a total value of $344,600.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 24.50% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Tutor Perini in the third quarter worth $260,000. Commonwealth Bank of Australia bought a new position in shares of Tutor Perini in the third quarter worth $261,000. Nomura Holdings Inc. bought a new position in shares of Tutor Perini in the second quarter worth $298,000. Foundry Partners LLC raised its position in shares of Tutor Perini by 34.1% in the third quarter. Foundry Partners LLC now owns 16,355 shares of the construction company’s stock worth $307,000 after buying an additional 4,155 shares in the last quarter. Finally, OppenheimerFunds Inc. raised its position in shares of Tutor Perini by 25.2% in the second quarter. OppenheimerFunds Inc. now owns 18,761 shares of the construction company’s stock worth $346,000 after buying an additional 3,781 shares in the last quarter. 89.21% of the stock is owned by institutional investors and hedge funds.
Shares of TPC stock traded up $0.27 during trading on Friday, hitting $18.61. The company’s stock had a trading volume of 295,522 shares, compared to its average volume of 474,558. The firm has a market cap of $930.98 million, a PE ratio of 12.92, a P/E/G ratio of 1.07 and a beta of 2.08. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 0.45. Tutor Perini has a 52 week low of $14.92 and a 52 week high of $28.30.
Tutor Perini Company Profile
Tutor Perini Corporation, a construction company, provides diversified general contracting, construction management, and design-build services to private customers and public agencies worldwide. The company operates through three segments: Civil, Building, and Specialty Contractors. The Civil segment engages in the public works construction, replacement, and reconstruction of infrastructure, including highways, bridges, tunnels, mass-transit systems, and water management and wastewater treatment facilities.
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