Brokers Issue Forecasts for Tutor Perini Corporation’s FY2019 Earnings (TPC)
Tutor Perini Corporation (NYSE:TPC) – Analysts at DA Davidson issued their FY2019 earnings estimates for shares of Tutor Perini Corporation in a note issued to investors on Wednesday. DA Davidson analyst B. Thielman anticipates that the construction company will post earnings per share of $3.20 for the year.
Tutor Perini Corporation (NYSE:TPC) last posted its quarterly earnings data on Monday, August 7th. The construction company reported $0.59 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.02. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.42 billion. Tutor Perini Corporation had a return on equity of 6.60% and a net margin of 2.08%. The firm’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.43 earnings per share.
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A number of other equities research analysts have also weighed in on the company. BidaskClub lowered Tutor Perini Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Zacks Investment Research lowered Tutor Perini Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. KeyCorp reiterated a “hold” rating on shares of Tutor Perini Corporation in a research report on Friday, August 25th. Seaport Global Securities lowered Tutor Perini Corporation from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $40.00 to $31.00 in a research report on Wednesday, October 11th. Finally, Canaccord Genuity restated a “buy” rating and issued a $35.00 target price on shares of Tutor Perini Corporation in a research note on Saturday, August 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $32.00.
Tutor Perini Corporation (NYSE:TPC) opened at 27.90 on Monday. Tutor Perini Corporation has a 1-year low of $18.05 and a 1-year high of $33.00. The company has a 50 day moving average price of $27.58 and a 200-day moving average price of $27.71. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of 13.72 and a beta of 2.45.
In other Tutor Perini Corporation news, CEO Ronald N. Tutor sold 75,000 shares of Tutor Perini Corporation stock in a transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder N. Tutor Separate Prope Ronald sold 71,383 shares of Tutor Perini Corporation stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $26.10, for a total value of $1,863,096.30. Following the transaction, the insider now owns 5,919,503 shares of the company’s stock, valued at approximately $154,499,028.30. The disclosure for this sale can be found here. Insiders have sold 175,000 shares of company stock valued at $4,566,711 in the last quarter. 24.50% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Ameritas Investment Partners Inc. purchased a new position in shares of Tutor Perini Corporation in the first quarter worth $101,000. Envestnet Asset Management Inc. raised its stake 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 purchasing an additional 340 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake 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 purchasing an additional 5,725 shares during the last quarter. OppenheimerFunds Inc. purchased a new position in shares of Tutor Perini Corporation in the first quarter worth $310,000. Finally, Karp Capital Management Corp purchased a new position in shares of Tutor Perini Corporation in the first quarter worth $318,000. Hedge funds and other institutional investors own 81.11% 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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