Tutor Perini Corporation Expected to Earn Q3 2017 Earnings of $0.70 Per Share (TPC)
Tutor Perini Corporation (NYSE:TPC) – Analysts at Seaport Global Securities issued their Q3 2017 earnings per share estimates for Tutor Perini Corporation in a research report issued on Wednesday. Seaport Global Securities analyst M. Shlisky expects that the construction company will post earnings of $0.70 per share for the quarter. Seaport Global Securities currently has a “Neutral” rating and a $31.00 target price on the stock. Seaport Global Securities also issued estimates for Tutor Perini Corporation’s Q4 2017 earnings at $0.68 EPS, FY2017 earnings at $2.24 EPS, Q1 2018 earnings at $0.45 EPS, Q2 2018 earnings at $0.72 EPS, Q3 2018 earnings at $0.84 EPS, Q4 2018 earnings at $0.82 EPS and FY2018 earnings at $2.83 EPS.
Tutor Perini Corporation (NYSE:TPC) last announced its quarterly earnings results on Monday, August 7th. The construction company reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.02. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.42 billion. Tutor Perini Corporation had a net margin of 2.08% and a return on equity of 6.60%. The business’s revenue was down 4.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.43 EPS.
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Several other brokerages also recently issued reports on TPC. BidaskClub raised shares of Tutor Perini Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Zacks Investment Research downgraded shares of Tutor Perini Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Canaccord Genuity reissued a “buy” rating on shares of Tutor Perini Corporation in a research note on Friday, June 23rd. Finally, KeyCorp reissued a “hold” rating on shares of Tutor Perini Corporation in a research note on Friday, August 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. Tutor Perini Corporation has a consensus rating of “Hold” and an average price target of $32.00.
Shares of Tutor Perini Corporation (NYSE TPC) opened at 28.00 on Friday. The stock’s 50 day moving average is $27.12 and its 200-day moving average is $27.83. The firm has a market cap of $1.39 billion, a P/E ratio of 13.77 and a beta of 2.45. Tutor Perini Corporation has a one year low of $18.05 and a one year high of $33.00.
In other Tutor Perini Corporation news, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of the stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $26.11, for a total transaction of $652,750.00. Following the transaction, the insider now owns 5,923,120 shares of the company’s stock, valued at $154,652,663.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Ronald N. Tutor sold 75,000 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $26.09, for a total transaction of $1,956,750.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 175,000 shares of company stock worth $4,566,711. 24.50% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. purchased a new position in Tutor Perini Corporation during the first quarter worth approximately $101,000. Envestnet Asset Management Inc. raised its stake in Tutor Perini Corporation by 8.1% during the first quarter. Envestnet Asset Management Inc. now owns 4,516 shares of the construction company’s stock worth $144,000 after purchasing an additional 340 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new position in Tutor Perini Corporation during the first quarter worth approximately $218,000. BNP Paribas Arbitrage SA raised its stake in Tutor Perini Corporation by 239.8% during the second quarter. BNP Paribas Arbitrage SA now owns 8,112 shares of the construction company’s stock worth $233,000 after purchasing an additional 5,725 shares during the period. Finally, Eqis Capital Management Inc. purchased a new position in Tutor Perini Corporation during the second quarter worth approximately $291,000. 81.11% of the stock is currently owned by institutional investors.
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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