Brokerages expect that Tutor Perini Corporation (NYSE:TPC) will report earnings per share of $0.50 for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Tutor Perini’s earnings, with the highest EPS estimate coming in at $0.54 and the lowest estimate coming in at $0.47. Tutor Perini reported earnings per share of $0.60 during the same quarter last year, which suggests a negative year-over-year growth rate of 16.7%. The company is expected to announce its next quarterly earnings results on Thursday, February 22nd.
On average, analysts expect that Tutor Perini will report full-year earnings of $1.83 per share for the current fiscal year, with EPS estimates ranging from $1.80 to $1.87. For the next fiscal year, analysts anticipate that the business will post earnings of $2.55 per share, with EPS estimates ranging from $2.20 to $2.80. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover Tutor Perini.
Tutor Perini (NYSE:TPC) last posted its earnings results on Thursday, November 9th. The construction company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.22). Tutor Perini had a net margin of 2.03% and a return on equity of 6.16%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the prior year, the firm earned $0.57 earnings per share. The company’s revenue for the quarter was down 10.0% on a year-over-year basis.
A number of research analysts have weighed in on TPC shares. Seaport Global Securities cut shares of Tutor Perini from a “buy” rating to a “neutral” rating and cut their price objective for the company from $40.00 to $31.00 in a report on Wednesday, October 11th. ValuEngine raised shares of Tutor Perini from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Zacks Investment Research raised shares of Tutor Perini from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. Canaccord Genuity reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Tutor Perini in a report on Saturday, August 26th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Tutor Perini in a report on Friday, August 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $33.86.
In other news, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of the business’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $25.60, for a total transaction of $640,000.00. Following the completion of the sale, the insider now owns 5,798,120 shares of the company’s stock, valued at $148,431,872. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dale Ann Reiss sold 4,829 shares of the business’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $27.28, for a total transaction of $131,735.12. Following the sale, the director now directly owns 20,625 shares of the company’s stock, valued at approximately $562,650. The disclosure for this sale can be found here. Insiders sold 54,829 shares of company stock valued at $1,400,985 in the last ninety days. 24.50% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. increased its stake in shares of Tutor Perini by 86.1% during the second quarter. Ameriprise Financial Inc. now owns 162,956 shares of the construction company’s stock worth $4,682,000 after purchasing an additional 75,407 shares in the last quarter. Parametrica Management Ltd purchased a new stake in Tutor Perini during the 3rd quarter valued at about $688,000. First Trust Advisors LP grew its stake in Tutor Perini by 3.3% during the 2nd quarter. First Trust Advisors LP now owns 253,480 shares of the construction company’s stock valued at $7,288,000 after acquiring an additional 8,011 shares in the last quarter. TIAA CREF Investment Management LLC grew its stake in Tutor Perini by 8.7% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 146,439 shares of the construction company’s stock valued at $4,210,000 after acquiring an additional 11,708 shares in the last quarter. Finally, State Street Corp grew its stake in Tutor Perini by 4.7% during the 2nd quarter. State Street Corp now owns 750,365 shares of the construction company’s stock valued at $21,576,000 after acquiring an additional 33,774 shares in the last quarter. 81.78% of the stock is owned by institutional investors and hedge funds.
Tutor Perini (TPC) traded down $1.00 on Wednesday, reaching $25.25. 458,214 shares of the company’s stock were exchanged, compared to its average volume of 539,779. Tutor Perini has a one year low of $22.60 and a one year high of $33.00. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $1,306.75, a PE ratio of 13.08, a price-to-earnings-growth ratio of 1.43 and a beta of 2.36.
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About Tutor Perini
Tutor Perini Corporation is a construction company offering general contracting, construction management and design-build services to private customers and public agencies across the world. The Company operates through three segments: Civil, Building and Specialty Contractors. Its Civil segment specializes in public works construction and the repair, replacement and reconstruction of infrastructure across various geographic regions of the United States.
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