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.
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.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Tutor Perini Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tutor Perini and related companies with MarketBeat.com's FREE daily email newsletter.