Tutor Perini (NYSE:TPC – Get Rating) issued an update on its FY 2023 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.45-$0.65 for the period, compared to the consensus estimate of $1.31. The company issued revenue guidance of -. Tutor Perini also updated its FY23 guidance to $0.45-0.65 EPS.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the company. B. Riley lowered their target price on Tutor Perini from $10.00 to $8.00 in a report on Friday. StockNews.com assumed coverage on Tutor Perini in a research note on Thursday. They set a hold rating on the stock.
Tutor Perini Price Performance
Shares of TPC stock opened at $6.13 on Friday. Tutor Perini has a 52-week low of $5.40 and a 52-week high of $10.94. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.91 and a current ratio of 1.91. The firm has a market capitalization of $315.82 million, a P/E ratio of -1.50 and a beta of 1.50. The stock has a 50 day moving average price of $8.53 and a 200 day moving average price of $7.52.
Institutional Investors Weigh In On Tutor Perini
A number of institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of Tutor Perini by 5.2% in the 3rd quarter. BlackRock Inc. now owns 5,225,053 shares of the construction company’s stock worth $28,842,000 after acquiring an additional 260,354 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Tutor Perini by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,658,964 shares of the construction company’s stock worth $28,716,000 after acquiring an additional 69,285 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Tutor Perini by 9.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,636,300 shares of the construction company’s stock worth $12,354,000 after acquiring an additional 139,889 shares in the last quarter. State Street Corp raised its position in shares of Tutor Perini by 0.8% in the 3rd quarter. State Street Corp now owns 1,094,570 shares of the construction company’s stock worth $6,042,000 after acquiring an additional 9,121 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Tutor Perini by 36.1% in the 4th quarter. AQR Capital Management LLC now owns 1,075,062 shares of the construction company’s stock worth $8,117,000 after acquiring an additional 284,950 shares in the last quarter. 65.86% of the stock is owned by institutional investors.
About Tutor Perini
Tutor Perini Corp. engages in the provision of construction services. It operates through the following business segments: Civil, Building, and Specialty Contractors. The Civil segment specializes in public works construction and the replacement and reconstruction of infrastructure across the major geographic regions of the United States.
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