Analysts expect that Tutor Perini Corporation (NYSE:TPC) will post sales of $1.39 billion for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Tutor Perini’s earnings, with the lowest sales estimate coming in at $1.34 billion and the highest estimate coming in at $1.47 billion. Tutor Perini posted sales of $1.25 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 11.2%. The business is scheduled to report its next earnings report on Thursday, February 22nd.
On average, analysts expect that Tutor Perini will report full year sales of $1.39 billion for the current year, with estimates ranging from $4.90 billion to $5.03 billion. For the next financial year, analysts forecast that the firm will post sales of $5.61 billion per share, with estimates ranging from $5.40 billion to $5.86 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Tutor Perini.
Tutor Perini (NYSE:TPC) last posted its earnings results on Thursday, November 9th. The construction company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.22). The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.54 billion. Tutor Perini had a net margin of 2.03% and a return on equity of 6.16%. Tutor Perini’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.57 earnings per share.
Several brokerages have recently weighed in on TPC. KeyCorp reissued a “hold” rating on shares of Tutor Perini in a research note on Friday, August 25th. Canaccord Genuity reissued a “buy” rating and issued a $35.00 price target on shares of Tutor Perini in a research note on Saturday, August 26th. Seaport Global Securities cut Tutor Perini from a “buy” rating to a “neutral” rating and decreased their price target for the company from $40.00 to $31.00 in a research note on Wednesday, October 11th. Zacks Investment Research raised Tutor Perini from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Finally, B. Riley reissued a “buy” rating on shares of Tutor Perini in a research note on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $33.86.
In related news, Director Dale Ann Reiss sold 4,829 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The stock was 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 $562,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $25.17, for a total value of $629,250.00. Following the sale, the insider now directly owns 5,823,120 shares of the company’s stock, valued at approximately $146,567,930.40. The disclosure for this sale can be found here. Insiders have sold 54,829 shares of company stock valued at $1,400,985 in the last ninety days. 24.50% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new stake in Tutor Perini in the third quarter valued at approximately $135,000. Victory Capital Management Inc. grew its stake 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 during the period. Macquarie Group Ltd. acquired a new stake in Tutor Perini in the third quarter valued at approximately $207,000. BNP Paribas Arbitrage SA grew its stake in Tutor Perini by 239.8% in the second quarter. BNP Paribas Arbitrage SA now owns 8,112 shares of the construction company’s stock valued at $233,000 after acquiring an additional 5,725 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in Tutor Perini in the third quarter valued at approximately $282,000. 81.78% of the stock is owned by institutional investors and hedge funds.
Tutor Perini (TPC) opened at $26.25 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.07 and a quick ratio of 2.07. The company has a market capitalization of $1,294.31, a PE ratio of 13.47, a price-to-earnings-growth ratio of 1.42 and a beta of 2.36. Tutor Perini has a 1 year low of $22.60 and a 1 year high of $33.00.
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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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