Tutor Perini Corp. (TPC) Given a $28.00 Price Target by MKM Partners Analysts
Tutor Perini Corp. (NYSE:TPC) received a $28.00 price objective from analysts at MKM Partners in a research report issued to clients and investors on Friday. The brokerage currently has a a “buy” rating on the stock. MKM Partners’ price objective would suggest a potential upside of 34.94% from the company’s current price.
A number of other analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Tutor Perini Corp. from a “sell” rating to a “hold” rating in a research note on Thursday. Standpoint Research raised shares of Tutor Perini Corp. from a “hold” rating to a “buy” rating in a research note on Monday. TheStreet cut shares of Tutor Perini Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. Canaccord Genuity reissued a “buy” rating and issued a $30.00 target price on shares of Tutor Perini Corp. in a research note on Thursday, August 4th. Finally, FBR & Co reissued an “outperform” rating and issued a $26.00 target price (up previously from $22.00) on shares of Tutor Perini Corp. in a research note on Thursday, June 30th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Tutor Perini Corp. presently has a consensus rating of “Buy” and an average price target of $24.29.
Shares of Tutor Perini Corp. (NYSE:TPC) traded up 2.07% during midday trading on Friday, reaching $21.18. The company had a trading volume of 1,318,686 shares. The company has a market capitalization of $1.04 billion, a P/E ratio of 16.17 and a beta of 2.48. The firm’s 50 day moving average price is $22.09 and its 200-day moving average price is $21.06. Tutor Perini Corp. has a 12 month low of $10.16 and a 12 month high of $25.98.
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Tutor Perini Corp. (NYSE:TPC) last posted its earnings results on Tuesday, August 2nd. The company reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.08. The business earned $1.31 billion during the quarter, compared to the consensus estimate of $1.40 billion. Tutor Perini Corp. had a net margin of 1.32% and a return on equity of 5.49%. The business’s revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.41 EPS. Analysts anticipate that Tutor Perini Corp. will post $2.04 earnings per share for the current fiscal year.
Institutional investors have recently made changes to their positions in the company. First Mercantile Trust Co. bought a new position in shares of Tutor Perini Corp. during the third quarter worth about $415,000. Foundry Partners LLC raised its position in shares of Tutor Perini Corp. by 3.1% in the third quarter. Foundry Partners LLC now owns 507,303 shares of the company’s stock worth $10,892,000 after buying an additional 15,245 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Tutor Perini Corp. by 3.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 290,002 shares of the company’s stock worth $6,830,000 after buying an additional 10,369 shares during the last quarter. American Century Companies Inc. raised its position in shares of Tutor Perini Corp. by 5.1% in the second quarter. American Century Companies Inc. now owns 81,841 shares of the company’s stock worth $1,927,000 after buying an additional 3,947 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of Tutor Perini Corp. by 19.7% in the second quarter. Legal & General Group Plc now owns 45,243 shares of the company’s stock worth $1,059,000 after buying an additional 7,446 shares during the last quarter. Institutional investors own 82.48% of the company’s stock.
Tutor Perini Corp. Company Profile
Tutor Perini Corporation, formerly Perini Corporation, is a construction company offering general contracting, construction management and design-build services to private customers and public agencies. The Company operates through three segments. The Civil segment specializes in public works construction and the repair, replacement and reconstruction of infrastructure.
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