Equities research analysts expect Tutor Perini Corporation (NYSE:TPC) to report sales of $1.48 billion for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Tutor Perini Corporation’s earnings. The lowest sales estimate is $1.44 billion and the highest is $1.52 billion. Tutor Perini Corporation posted sales of $1.33 billion during the same quarter last year, which suggests a positive year over year growth rate of 11.3%. The company is expected to issue its next quarterly earnings report on Wednesday, November 1st.
On average, analysts expect that Tutor Perini Corporation will report full-year sales of $1.48 billion for the current year, with estimates ranging from $5.25 billion to $5.48 billion. For the next financial year, analysts anticipate that the firm will post sales of $5.88 billion per share, with estimates ranging from $5.73 billion to $6.00 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Tutor Perini Corporation.
Tutor Perini Corporation (NYSE:TPC) last issued its quarterly earnings results on Monday, August 7th. The construction company reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.02. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.42 billion. Tutor Perini Corporation had a net margin of 2.08% and a return on equity of 6.60%. Tutor Perini Corporation’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period last year, the business earned $0.43 EPS.
A number of equities analysts have commented on TPC shares. Zacks Investment Research downgraded shares of Tutor Perini Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Canaccord Genuity reiterated a “buy” rating and issued a $35.00 price target on shares of Tutor Perini Corporation in a report on Saturday, August 26th. BidaskClub upgraded shares of Tutor Perini Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. Finally, KeyCorp reiterated a “hold” rating on shares of Tutor Perini Corporation in a report on Friday, August 25th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $31.29.
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In related news, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $26.11, for a total transaction of $652,750.00. Following the completion of the sale, the insider now owns 5,923,120 shares in the company, valued at $154,652,663.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ronald N. Tutor sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $26.09, for a total value of $1,956,750.00. The disclosure for this sale can be found here. Insiders sold a total of 175,000 shares of company stock valued at $4,566,711 in the last quarter. Company insiders own 24.50% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its position in Tutor Perini Corporation by 64.7% during the first quarter. Bank of America Corp DE now owns 311,710 shares of the construction company’s stock worth $9,913,000 after buying an additional 122,419 shares during the period. ClariVest Asset Management LLC increased its holdings in shares of Tutor Perini Corporation by 23.8% in the first quarter. ClariVest Asset Management LLC now owns 234,245 shares of the construction company’s stock valued at $7,448,000 after purchasing an additional 45,000 shares during the period. Alambic Investment Management L.P. increased its holdings in shares of Tutor Perini Corporation by 11.9% in the first quarter. Alambic Investment Management L.P. now owns 26,400 shares of the construction company’s stock valued at $840,000 after purchasing an additional 2,800 shares during the period. Pinnacle Associates Ltd. acquired a new position in shares of Tutor Perini Corporation in the first quarter valued at approximately $205,000. Finally, First Trust Advisors LP increased its holdings in shares of Tutor Perini Corporation by 3.3% in the second quarter. First Trust Advisors LP now owns 253,480 shares of the construction company’s stock valued at $7,288,000 after purchasing an additional 8,011 shares during the period. 81.11% of the stock is currently owned by institutional investors.
Shares of Tutor Perini Corporation (NYSE:TPC) opened at 26.95 on Tuesday. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 13.25 and a beta of 2.45. The firm’s 50-day moving average is $25.82 and its 200-day moving average is $28.02. Tutor Perini Corporation has a 1-year low of $18.05 and a 1-year high of $33.00.
About Tutor Perini Corporation
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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