Tutor Perini Corporation (TPC) to Post FY2019 Earnings of $3.49 Per Share, Seaport Global Securities Forecasts
Tutor Perini Corporation (NYSE:TPC) – Analysts at Seaport Global Securities issued their FY2019 earnings estimates for shares of Tutor Perini Corporation in a research report issued to clients and investors on Wednesday. Seaport Global Securities analyst M. Shlisky forecasts that the construction company will post earnings of $3.49 per share for the year. Seaport Global Securities currently has a “Neutral” rating and a $31.00 target price on the stock.
TPC has been the topic of several other research reports. BidaskClub cut shares of Tutor Perini Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Canaccord Genuity reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Tutor Perini Corporation in a research note on Saturday, August 26th. KeyCorp reaffirmed a “hold” rating on shares of Tutor Perini Corporation in a research note on Friday, August 25th. Finally, Zacks Investment Research cut shares of Tutor Perini Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $32.00.
Shares of Tutor Perini Corporation (NYSE TPC) traded up 0.36% on Thursday, reaching $28.10. 228,618 shares of the company’s stock traded hands. Tutor Perini Corporation has a 52 week low of $18.05 and a 52 week high of $33.00. The company has a 50 day moving average price of $27.00 and a 200 day moving average price of $27.83. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 13.82 and a beta of 2.45.
Tutor Perini Corporation (NYSE:TPC) last issued its earnings results on Monday, August 7th. The construction company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. Tutor Perini Corporation had a net margin of 2.08% and a return on equity of 6.60%. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the business posted $0.43 earnings per share. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year.
In other news, CEO Ronald N. Tutor sold 3,617 shares of Tutor Perini Corporation stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $26.02, for a total value of $94,114.34. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of Tutor Perini Corporation stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $26.11, for a total transaction of $652,750.00. Following the completion of the transaction, the insider now directly owns 5,923,120 shares in the company, valued at $154,652,663.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 175,000 shares of company stock worth $4,566,711. 24.50% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in TPC. Ameritas Investment Partners Inc. purchased a new position in shares of Tutor Perini Corporation in the first quarter worth approximately $101,000. Envestnet Asset Management Inc. increased its position in shares of Tutor Perini Corporation by 8.1% in the first quarter. Envestnet Asset Management Inc. now owns 4,516 shares of the construction company’s stock worth $144,000 after acquiring an additional 340 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Tutor Perini Corporation in the first quarter worth approximately $218,000. BNP Paribas Arbitrage SA increased its position in shares of Tutor Perini Corporation by 239.8% in the second quarter. BNP Paribas Arbitrage SA now owns 8,112 shares of the construction company’s stock worth $233,000 after acquiring an additional 5,725 shares in the last quarter. Finally, Eqis Capital Management Inc. purchased a new position in shares of Tutor Perini Corporation in the second quarter worth approximately $291,000. 81.11% of the stock is currently owned by institutional investors and hedge funds.
Tutor Perini Corporation Company Profile
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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