Zacks: Brokerages Anticipate Tutor Perini Corp (TPC) to Announce $0.81 EPS

Equities research analysts expect that Tutor Perini Corp (NYSE:TPC) will announce earnings per share of $0.81 for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Tutor Perini’s earnings, with the highest EPS estimate coming in at $0.84 and the lowest estimate coming in at $0.78. Tutor Perini reported earnings per share of $0.55 during the same quarter last year, which indicates a positive year-over-year growth rate of 47.3%. The firm is expected to report its next earnings report on Tuesday, February 26th.

On average, analysts expect that Tutor Perini will report full year earnings of $1.49 per share for the current fiscal year, with EPS estimates ranging from $1.46 to $1.52. For the next financial year, analysts forecast that the firm will post earnings of $2.40 per share, with EPS estimates ranging from $2.01 to $2.80. Zacks’ EPS averages are an average based on a survey of analysts that cover Tutor Perini.

Tutor Perini (NYSE:TPC) last issued its quarterly earnings results on Wednesday, November 7th. The construction company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.32). The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.35 billion. Tutor Perini had a net margin of 2.58% and a return on equity of 4.35%. The business’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.47 EPS.

A number of research firms recently weighed in on TPC. Zacks Investment Research lowered shares of Tutor Perini from a “hold” rating to a “sell” rating in a research report on Friday, October 26th. ValuEngine upgraded shares of Tutor Perini from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 2nd. MKM Partners set a $28.00 target price on shares of Tutor Perini and gave the stock a “buy” rating in a research note on Friday, September 28th. UBS Group set a $24.00 target price on shares of Tutor Perini and gave the stock a “buy” rating in a research note on Thursday, November 8th. Finally, B. Riley reduced their target price on shares of Tutor Perini from $26.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, November 8th. Two research analysts have rated the stock with a sell rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $27.57.

Shares of TPC stock traded up $0.18 during trading hours on Friday, hitting $18.31. 8,075 shares of the company’s stock traded hands, compared to its average volume of 519,845. The company has a market capitalization of $906.97 million, a P/E ratio of 12.90, a PEG ratio of 1.04 and a beta of 2.08. Tutor Perini has a 12 month low of $14.92 and a 12 month high of $28.30. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.94 and a current ratio of 1.94.

In related news, CEO Ronald N. Tutor sold 32,574 shares of the business’s stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $20.10, for a total transaction of $654,737.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sidney J. Feltenstein acquired 20,000 shares of Tutor Perini stock in a transaction that occurred on Monday, November 12th. The shares were purchased at an average cost of $17.23 per share, with a total value of $344,600.00. The disclosure for this purchase can be found here. 24.50% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. purchased a new position in Tutor Perini during the 3rd quarter valued at $260,000. Commonwealth Bank of Australia acquired a new position in Tutor Perini during the third quarter worth $261,000. Nomura Holdings Inc. acquired a new position in Tutor Perini during the second quarter worth $298,000. Foundry Partners LLC raised its holdings in Tutor Perini by 34.1% during the third quarter. Foundry Partners LLC now owns 16,355 shares of the construction company’s stock worth $307,000 after purchasing an additional 4,155 shares during the last quarter. Finally, OppenheimerFunds Inc. raised its holdings in Tutor Perini by 25.2% during the second quarter. OppenheimerFunds Inc. now owns 18,761 shares of the construction company’s stock worth $346,000 after purchasing an additional 3,781 shares during the last quarter. 89.21% of the stock is owned by institutional investors.

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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