Equities research analysts predict that Tutor Perini Corp (NYSE:TPC) will report $1.14 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Tutor Perini’s earnings. The lowest sales estimate is $1.11 billion and the highest is $1.19 billion. Tutor Perini reported sales of $1.12 billion in the same quarter last year, which indicates a positive year over year growth rate of 1.8%. The company is expected to issue its next quarterly earnings report on Wednesday, May 2nd.
According to Zacks, analysts expect that Tutor Perini will report full year sales of $1.14 billion for the current fiscal year, with estimates ranging from $5.14 billion to $5.24 billion. For the next financial year, analysts expect that the firm will report sales of $5.68 billion per share, with estimates ranging from $5.56 billion to $5.77 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Tutor Perini.
Tutor Perini (NYSE:TPC) last announced its quarterly earnings data on Tuesday, February 27th. The construction company reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.05. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.37 billion. Tutor Perini had a return on equity of 5.86% and a net margin of 3.12%.
Several analysts have recently weighed in on TPC shares. Zacks Investment Research upgraded Tutor Perini from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Saturday, January 20th. Canaccord Genuity restated a “buy” rating and issued a $32.00 price objective on shares of Tutor Perini in a report on Friday, February 16th. ValuEngine lowered Tutor Perini from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. KeyCorp upgraded Tutor Perini from a “sector weight” rating to an “overweight” rating and set a $28.00 price objective for the company in a report on Wednesday, February 28th. They noted that the move was a valuation call. Finally, B. Riley reduced their target price on Tutor Perini from $40.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. Tutor Perini has an average rating of “Hold” and an average price target of $30.43.
Shares of Tutor Perini (NYSE:TPC) opened at $22.40 on Friday. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $1,120.00, a price-to-earnings ratio of 11.98, a PEG ratio of 1.04 and a beta of 2.06. Tutor Perini has a twelve month low of $21.15 and a twelve month high of $32.70.
In other news, Director Dale Ann Reiss sold 4,829 shares of the company’s stock in a transaction 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 directly owns 20,625 shares of the company’s stock, valued at $562,650. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder N. Tutor Separate Prope Ronald sold 50,000 shares of the company’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $22.26, for a total value of $1,113,000.00. Following the sale, the insider now directly owns 5,748,120 shares of the company’s stock, valued at $127,953,151.20. The disclosure for this sale can be found here. Corporate insiders own 24.50% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in TPC. State Street Corp lifted its holdings in shares of Tutor Perini by 4.7% during the second quarter. State Street Corp now owns 750,365 shares of the construction company’s stock valued at $21,576,000 after purchasing an additional 33,774 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Tutor Perini by 1.6% during the second quarter. The Manufacturers Life Insurance Company now owns 29,820 shares of the construction company’s stock valued at $858,000 after buying an additional 481 shares during the period. Victory Capital Management Inc. raised its position in Tutor Perini by 119.4% during the third 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. Principal Financial Group Inc. raised its position in Tutor Perini by 1.5% during the third quarter. Principal Financial Group Inc. now owns 390,557 shares of the construction company’s stock valued at $11,091,000 after buying an additional 5,918 shares during the period. Finally, Russell Investments Group Ltd. raised its position in Tutor Perini by 17.3% during the third quarter. Russell Investments Group Ltd. now owns 489,862 shares of the construction company’s stock valued at $13,911,000 after buying an additional 72,277 shares during the period. 85.38% of the stock is owned by institutional investors and hedge funds.
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.