Brokerages Expect Tutor Perini Corp (TPC) Will Post Quarterly Sales of $1.37 Billion

Brokerages expect that Tutor Perini Corp (NYSE:TPC) will report $1.37 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Tutor Perini’s earnings, with estimates ranging from $1.34 billion to $1.40 billion. Tutor Perini reported sales of $1.25 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 9.6%. The firm is expected to report its next quarterly earnings report on Thursday, February 22nd.

On average, analysts expect that Tutor Perini will report full-year sales of $1.37 billion for the current fiscal year, with estimates ranging from $4.90 billion to $4.96 billion. For the next year, analysts anticipate that the business will post sales of $5.62 billion per share, with estimates ranging from $5.40 billion to $5.86 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Tutor Perini.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings data on Thursday, November 9th. The construction company reported $0.47 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.22). Tutor Perini had a net margin of 2.03% and a return on equity of 6.16%. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same period last year, the company posted $0.57 EPS. Tutor Perini’s revenue for the quarter was down 10.0% on a year-over-year basis.

A number of equities research analysts have recently issued reports on the stock. B. Riley reaffirmed a “buy” rating on shares of Tutor Perini in a research note on Wednesday, November 1st. ValuEngine cut shares of Tutor Perini from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Canaccord Genuity cut their price objective on shares of Tutor Perini from $35.00 to $32.00 and set a “buy” rating for the company in a research note on Friday, November 10th. cut their price objective on shares of Tutor Perini from $37.00 to $35.00 and set a “buy” rating for the company in a research note 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 objective for the company in a research note on Saturday, January 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. Tutor Perini presently has a consensus rating of “Hold” and a consensus price target of $32.60.

In other Tutor Perini news, Director Dale Ann Reiss sold 4,829 shares of the stock in a transaction 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 owns 20,625 shares of the company’s stock, valued at approximately $562,650. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of the stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $25.60, for a total transaction of $640,000.00. Following the sale, the insider now directly owns 5,798,120 shares of the company’s stock, valued at approximately $148,431,872. The disclosure for this sale can be found here. Insiders have sold a total of 54,829 shares of company stock valued at $1,400,985 in the last three months. 24.50% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in TPC. SeaCrest Wealth Management LLC purchased a new stake in Tutor Perini during the 4th quarter valued at $101,000. SG Americas Securities LLC purchased a new stake in Tutor Perini during the 3rd quarter valued at $135,000. Bank of Montreal Can boosted its position in Tutor Perini by 328.5% during the 4th quarter. Bank of Montreal Can now owns 7,550 shares of the construction company’s stock valued at $191,000 after buying an additional 5,788 shares during the period. Victory Capital Management Inc. boosted its position in Tutor Perini by 119.4% during the 3rd quarter. Victory Capital Management Inc. now owns 6,877 shares of the construction company’s stock valued at $195,000 after buying an additional 3,743 shares during the period. Finally, Macquarie Group Ltd. purchased a new stake in Tutor Perini during the 3rd quarter valued at $207,000. 83.38% of the stock is owned by institutional investors and hedge funds.

Shares of Tutor Perini (NYSE TPC) opened at $22.40 on Friday. Tutor Perini has a 12 month low of $21.15 and a 12 month high of $32.70. The stock has a market cap of $1,085.23, a price-to-earnings ratio of 11.61, a PEG ratio of 0.82 and a beta of 2.13. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.52.

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About Tutor Perini

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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