Tutor Perini Corp (TPC) Expected to Post Earnings of $0.50 Per Share

Wall Street brokerages predict that Tutor Perini Corp (NYSE:TPC) will announce $0.50 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Tutor Perini’s earnings, with estimates ranging from $0.47 to $0.54. Tutor Perini posted earnings of $0.60 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 16.7%. The business is expected to announce its next quarterly earnings results on Thursday, February 22nd.

According to Zacks, analysts expect that Tutor Perini will report full year earnings of $1.83 per share for the current year, with EPS estimates ranging from $1.80 to $1.87. For the next year, analysts expect that the firm will report earnings of $2.67 per share, with EPS estimates ranging from $2.20 to $3.02. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Tutor Perini.

Tutor Perini (NYSE:TPC) last issued its quarterly earnings results on Thursday, November 9th. The construction company reported $0.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.22). The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.54 billion. Tutor Perini had a return on equity of 6.16% and a net margin of 2.03%. The firm’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.57 EPS.

TPC has been the topic of several research reports. B. Riley reissued a “buy” rating on shares of Tutor Perini in a research report on Wednesday, November 1st. Canaccord Genuity reduced their price target on shares of Tutor Perini from $35.00 to $32.00 and set a “buy” rating on the stock in a research report on Friday, November 10th. ValuEngine cut shares of Tutor Perini from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. reduced their price target on shares of Tutor Perini from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, November 15th. Finally, Zacks Investment Research raised shares of Tutor Perini from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Saturday, January 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $32.60.

Shares of Tutor Perini (NYSE:TPC) opened at $21.80 on Friday. The stock has a market cap of $1,090.00, a PE ratio of 11.30, a PEG ratio of 0.84 and a beta of 2.13. Tutor Perini has a 1 year low of $21.15 and a 1 year high of $32.70. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.07 and a current ratio of 2.07.

In related news, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $25.60, for a total value of $640,000.00. Following the sale, the insider now owns 5,798,120 shares of the company’s stock, valued at $148,431,872. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Dale Ann Reiss sold 4,829 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $27.28, for a total transaction of $131,735.12. Following the completion of the sale, the director now directly owns 20,625 shares in the company, valued at approximately $562,650. The disclosure for this sale can be found here. Insiders have sold 54,829 shares of company stock worth $1,400,985 in the last three months. Corporate insiders own 24.50% of the company’s stock.

Large investors have recently modified their holdings of the stock. SeaCrest Wealth Management LLC acquired a new stake in Tutor Perini in the fourth quarter valued at approximately $101,000. SG Americas Securities LLC acquired a new stake in Tutor Perini in the third quarter valued at approximately $135,000. Victory Capital Management Inc. raised its holdings in Tutor Perini by 119.4% in the third quarter. Victory Capital Management Inc. now owns 6,877 shares of the construction company’s stock valued at $195,000 after acquiring an additional 3,743 shares in the last quarter. Macquarie Group Ltd. acquired a new stake in Tutor Perini in the third quarter valued at approximately $207,000. Finally, Bank of Montreal Can raised its holdings in Tutor Perini by 328.5% in the fourth quarter. Bank of Montreal Can now owns 7,550 shares of the construction company’s stock valued at $191,000 after acquiring an additional 5,788 shares in the last quarter. 83.38% of the stock is currently owned by hedge funds and other institutional investors.

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Tutor Perini 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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