Tutor Perini Corporation (TPC) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Tutor Perini Corporation (NYSE:TPC) have received a consensus rating of “Buy” from the thirteen ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $33.86.
Several equities research analysts recently commented on TPC shares. B. Riley reissued a “buy” rating on shares of Tutor Perini Corporation in a report on Wednesday, November 1st. Zacks Investment Research cut Tutor Perini Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. dropped their target price on Tutor Perini Corporation from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, November 15th. Canaccord Genuity dropped their target price on Tutor Perini Corporation from $35.00 to $32.00 and set a “buy” rating on the stock in a report on Friday, November 10th. Finally, BidaskClub cut Tutor Perini Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st.
Tutor Perini Corporation (NYSE TPC) traded up $0.10 on Monday, hitting $23.50. The stock had a trading volume of 403,100 shares, compared to its average volume of 350,337. The company has a market capitalization of $1,170.00, a PE ratio of 12.18, a PEG ratio of 1.28 and a beta of 2.39. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.07 and a current ratio of 2.07. Tutor Perini Corporation has a 52 week low of $22.60 and a 52 week high of $33.00.
Tutor Perini Corporation (NYSE:TPC) last released its quarterly earnings results on Thursday, November 9th. The construction company reported $0.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.22). The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.54 billion. Tutor Perini Corporation had a net margin of 2.03% and a return on equity of 6.16%. The business’s quarterly revenue was down 10.0% on a year-over-year basis. During the same period last year, the firm posted $0.57 EPS. equities analysts forecast that Tutor Perini Corporation will post 1.83 earnings per share for the current fiscal year.
In other Tutor Perini Corporation news, CEO Ronald N. Tutor sold 75,000 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $26.09, for a total value of $1,956,750.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $26.11, for a total value of $652,750.00. Following the completion of the transaction, the insider now directly owns 5,923,120 shares in the company, valued at approximately $154,652,663.20. The disclosure for this sale can be found here. Insiders sold 175,000 shares of company stock worth $4,566,711 in the last ninety days. 24.50% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Ameriprise Financial Inc. increased its holdings in shares of Tutor Perini Corporation by 86.1% in the second quarter. Ameriprise Financial Inc. now owns 162,956 shares of the construction company’s stock valued at $4,682,000 after buying an additional 75,407 shares in the last quarter. Parametrica Management Ltd bought a new position in shares of Tutor Perini Corporation in the third quarter valued at $688,000. First Trust Advisors LP increased its holdings in shares of Tutor Perini Corporation by 3.3% in the second quarter. First Trust Advisors LP now owns 253,480 shares of the construction company’s stock valued at $7,288,000 after buying an additional 8,011 shares in the last quarter. TIAA CREF Investment Management LLC grew its position in Tutor Perini Corporation by 8.7% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 146,439 shares of the construction company’s stock worth $4,210,000 after purchasing an additional 11,708 shares in the last quarter. Finally, LSV Asset Management grew its position in Tutor Perini Corporation by 14.4% during the 2nd quarter. LSV Asset Management now owns 1,964,456 shares of the construction company’s stock worth $56,478,000 after purchasing an additional 247,500 shares in the last quarter. 79.51% 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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