Tutor Perini Corporation (TPC) Scheduled to Post Quarterly Earnings on Thursday
Tutor Perini Corporation (NYSE:TPC) will announce its earnings results after the market closes on Thursday, November 9th. Analysts expect the company to announce earnings of $0.69 per share for the quarter. Tutor Perini Corporation has set its FY17 guidance at $2.10 – $2.40 EPS.
Tutor Perini Corporation (NYSE:TPC) last issued its quarterly earnings data on Monday, August 7th. The construction company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The firm had revenue of $1.25 billion during 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 company’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.43 EPS. On average, analysts expect Tutor Perini Corporation to post $2.22 EPS for the current fiscal year and $2.71 EPS for the next fiscal year.
In related news, CEO Ronald N. Tutor sold 3,617 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $26.02, for a total transaction of $94,114.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of the firm’s 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 sale, the insider now directly owns 5,923,120 shares of the company’s stock, valued at approximately $154,652,663.20. 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 three months. 24.50% of the stock is owned by insiders.
A number of brokerages have weighed in on TPC. 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. BidaskClub raised shares of Tutor Perini Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Seaport Global Securities downgraded shares of Tutor Perini Corporation from a “buy” rating to a “neutral” rating and decreased their target price for the company from $40.00 to $31.00 in a research note on Wednesday, October 11th. Canaccord Genuity reaffirmed a “buy” rating and set a $35.00 target price on shares of Tutor Perini Corporation in a research note on Saturday, August 26th. Finally, KeyCorp reaffirmed 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 issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $32.00.
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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