Tutor Perini Corporation (NYSE:TPC) – Seaport Global Securities raised their Q2 2018 earnings estimates for shares of Tutor Perini Corporation in a report issued on Monday. Seaport Global Securities analyst M. Shlisky now anticipates that the construction company will earn $0.75 per share for the quarter, up from their prior forecast of $0.72. Seaport Global Securities has a “Neutral” rating and a $31.00 price objective on the stock. Seaport Global Securities also issued estimates for Tutor Perini Corporation’s Q3 2018 earnings at $0.66 EPS and FY2018 earnings at $2.68 EPS.
Other analysts also recently issued reports about the stock. decreased their target price on shares of Tutor Perini Corporation from $37.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday. B. Riley decreased their target price on shares of Tutor Perini Corporation from $37.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday. Canaccord Genuity decreased their target price on shares of Tutor Perini Corporation from $35.00 to $32.00 and set a “buy” rating for the company in a research report on Friday, November 10th. BidaskClub downgraded shares of Tutor Perini Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Finally, ValuEngine downgraded shares of Tutor Perini Corporation from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $33.63.
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Shares of Tutor Perini Corporation (NYSE TPC) traded down $0.65 on Tuesday, reaching $23.85. 557,500 shares of the company were exchanged, compared to its average volume of 349,959. Tutor Perini Corporation has a 52-week low of $22.60 and a 52-week high of $33.00. The stock has a market capitalization of $1,219.64, a P/E ratio of 12.69, a PEG ratio of 1.35 and a beta of 2.39. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.07 and a quick ratio of 2.07.
Tutor Perini Corporation (NYSE:TPC) last announced its quarterly earnings data on Thursday, November 9th. The construction company reported $0.47 EPS for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.22). Tutor Perini Corporation had a net margin of 2.03% and a return on equity of 6.16%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the previous year, the firm posted $0.57 earnings per share. The business’s revenue for the quarter was down 10.0% on a year-over-year basis.
In other news, CEO Ronald N. Tutor sold 75,000 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $26.09, for a total value of $1,956,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ronald N. Tutor sold 3,617 shares of the business’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $26.02, for a total transaction of $94,114.34. The disclosure for this sale can be found here. Insiders sold 175,000 shares of company stock valued at $4,566,711 over the last 90 days. 24.50% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of Tutor Perini Corporation in the third quarter worth $135,000. Victory Capital Management Inc. lifted its stake in shares of Tutor Perini Corporation by 119.4% in the third quarter. Victory Capital Management Inc. now owns 6,877 shares of the construction company’s stock worth $195,000 after buying an additional 3,743 shares during the last quarter. Macquarie Group Ltd. acquired a new stake in shares of Tutor Perini Corporation in the third quarter worth $207,000. BNP Paribas Arbitrage SA lifted its stake in shares of Tutor Perini Corporation by 239.8% in the second quarter. BNP Paribas Arbitrage SA now owns 8,112 shares of the construction company’s stock worth $233,000 after buying an additional 5,725 shares during the last quarter. Finally, OppenheimerFunds Inc. acquired a new stake in shares of Tutor Perini Corporation in the first quarter worth $310,000. Institutional investors and hedge funds own 81.53% of the company’s stock.
Tutor Perini Corporation Company Profile
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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