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.

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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.

Earnings History and Estimates for Tutor Perini Corporation (NYSE:TPC)

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