Wall Street brokerages expect Tutor Perini Corp (NYSE:TPC) to report $1.42 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Tutor Perini’s earnings. The lowest sales estimate is $1.35 billion and the highest is $1.48 billion. Tutor Perini reported sales of $1.19 billion in the same quarter last year, which would suggest a positive year over year growth rate of 19.3%. The business is scheduled to report its next earnings results on Tuesday, February 26th.
According to Zacks, analysts expect that Tutor Perini will report full-year sales of $4.88 billion for the current year, with estimates ranging from $4.81 billion to $4.92 billion. For the next year, analysts forecast that the firm will post sales of $5.59 billion, with estimates ranging from $5.34 billion to $5.77 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Tutor Perini.
Tutor Perini (NYSE:TPC) last posted its earnings results on Wednesday, November 7th. The construction company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.32). Tutor Perini had a net margin of 2.58% and a return on equity of 4.55%. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter last year, the firm earned $0.47 EPS. Tutor Perini’s revenue for the quarter was down 6.4% on a year-over-year basis.
Shares of TPC stock traded down $0.23 during trading hours on Friday, reaching $17.56. 1,075,360 shares of the company’s stock were exchanged, compared to its average volume of 455,786. Tutor Perini has a 1 year low of $14.92 and a 1 year high of $28.30. The firm has a market capitalization of $910.30 million, a price-to-earnings ratio of 12.19, a PEG ratio of 0.85 and a beta of 2.08. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.97 and a current ratio of 1.97.
In related news, major shareholder N. Tutor Separate Prope Ronald sold 12,618 shares of the company’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $20.32, for a total value of $256,397.76. Following the sale, the insider now owns 5,698,983 shares in the company, valued at $115,803,334.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ronald N. Tutor sold 27,375 shares of the company’s stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $20.24, for a total value of $554,070.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 117,574 shares of company stock worth $2,367,300. 24.50% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Xact Kapitalforvaltning AB purchased a new stake in Tutor Perini in the first quarter valued at approximately $210,000. Commonwealth Bank of Australia purchased a new stake in Tutor Perini in the third quarter valued at approximately $261,000. Nomura Holdings Inc. purchased a new stake in Tutor Perini in the second quarter valued at approximately $298,000. Foundry Partners LLC boosted its position in Tutor Perini by 34.1% in the third quarter. Foundry Partners LLC now owns 16,355 shares of the construction company’s stock valued at $307,000 after buying an additional 4,155 shares during the last quarter. Finally, OppenheimerFunds Inc. boosted its position in Tutor Perini by 25.2% in the second quarter. OppenheimerFunds Inc. now owns 18,761 shares of the construction company’s stock valued at $346,000 after buying an additional 3,781 shares during the last quarter. Hedge funds and other institutional investors own 87.33% of the company’s stock.
About Tutor Perini
Tutor Perini Corporation, a construction company, provides diversified general contracting, construction management, and design-build services to private customers and public agencies worldwide. The company operates through three segments: Civil, Building, and Specialty Contractors. The Civil segment engages in the public works construction, replacement, and reconstruction of infrastructure, including highways, bridges, tunnels, mass-transit systems, and water management and wastewater treatment facilities.
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