Zacks: Analysts Anticipate Tutor Perini Corporation (TPC) Will Post Quarterly Sales of $1.48 Billion
Wall Street brokerages expect Tutor Perini Corporation (NYSE:TPC) to announce $1.48 billion in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Tutor Perini Corporation’s earnings. The lowest sales estimate is $1.44 billion and the highest is $1.52 billion. Tutor Perini Corporation posted sales of $1.33 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 11.3%. The company is expected to announce its next quarterly earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that Tutor Perini Corporation will report full-year sales of $1.48 billion for the current fiscal year, with estimates ranging from $5.25 billion to $5.48 billion. For the next fiscal year, analysts forecast that the company will post sales of $5.83 billion per share, with estimates ranging from $5.70 billion to $6.00 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Tutor Perini Corporation.
Tutor Perini Corporation (NYSE:TPC) last released its earnings results on Monday, August 7th. The construction company reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.02. Tutor Perini Corporation had a return on equity of 6.60% and a net margin of 2.08%. The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the firm posted $0.43 EPS. The firm’s quarterly revenue was down 4.7% on a year-over-year basis.
A number of research analysts have weighed in on TPC shares. BidaskClub raised shares of Tutor Perini Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Zacks Investment Research lowered shares of Tutor Perini Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Finally, Canaccord Genuity reissued a “buy” rating on shares of Tutor Perini Corporation in a research report on Friday, June 23rd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. Tutor Perini Corporation has a consensus rating of “Buy” and an average target price of $31.29.
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Tutor Perini Corporation (TPC) opened at 25.95 on Friday. The firm’s 50-day moving average price is $27.88 and its 200 day moving average price is $28.91. Tutor Perini Corporation has a 52-week low of $18.05 and a 52-week high of $33.00. The firm has a market cap of $1.29 billion, a PE ratio of 12.76 and a beta of 2.42.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in Tutor Perini Corporation during the fourth quarter worth $1,646,000. Teachers Advisors LLC boosted its stake in Tutor Perini Corporation by 3.5% in the fourth quarter. Teachers Advisors LLC now owns 64,966 shares of the construction company’s stock worth $1,819,000 after buying an additional 2,195 shares during the last quarter. Boston Advisors LLC acquired a new stake in Tutor Perini Corporation during the first quarter worth $5,677,000. Sanders Morris Harris Inc. acquired a new stake in Tutor Perini Corporation during the first quarter worth $2,756,000. Finally, Nationwide Fund Advisors boosted its stake in Tutor Perini Corporation by 13.4% in the first quarter. Nationwide Fund Advisors now owns 108,302 shares of the construction company’s stock worth $3,444,000 after buying an additional 12,760 shares during the last quarter. Institutional investors own 81.17% of the company’s stock.
About Tutor Perini Corporation
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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