Tutor Perini (TPC) Announces Earnings Results

Tutor Perini (NYSE:TPC) issued its earnings results on Wednesday. The construction company reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.32), Fidelity Earnings reports. Tutor Perini had a return on equity of 4.55% and a net margin of 2.58%. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the prior year, the business earned $0.47 EPS. The business’s revenue was down 6.4% on a year-over-year basis. Tutor Perini updated its FY18 guidance to $1.50-1.65 EPS.

Shares of NYSE:TPC traded down $0.14 during trading hours on Friday, hitting $17.65. The stock had a trading volume of 5,259 shares, compared to its average volume of 470,512. 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 P/E ratio of 12.26, a PEG ratio of 0.85 and a beta of 2.08. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.46.

TPC has been the topic of a number of recent research reports. ValuEngine cut shares of Tutor Perini from a “sell” rating to a “strong sell” rating in a report on Saturday, September 22nd. Zacks Investment Research raised shares of Tutor Perini from a “sell” rating to a “hold” rating in a report on Friday, August 10th. B. Riley cut their target price on shares of Tutor Perini from $28.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, August 8th. MKM Partners set a $28.00 price target on shares of Tutor Perini and gave the company a “buy” rating in a research note on Tuesday, August 28th. Finally, UBS Group set a $24.00 price target on shares of Tutor Perini and gave the company a “buy” rating in a research note on Thursday. Two analysts have rated the stock with a sell rating and eight have assigned a buy rating to the company. Tutor Perini currently has an average rating of “Buy” and a consensus price target of $28.50.

In other Tutor Perini news, CEO Ronald N. Tutor sold 27,375 shares of the firm’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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder N. Tutor Separate Prope Ronald sold 27,433 shares of the firm’s stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $20.02, for a total transaction of $549,208.66. Following the completion of the sale, the insider now owns 5,698,983 shares in the company, valued at approximately $114,093,639.66. The disclosure for this sale can be found here. Insiders sold 117,574 shares of company stock worth $2,367,300 in the last 90 days. 24.50% of the stock is owned by company insiders.

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Tutor Perini Company Profile

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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Earnings History for Tutor Perini (NYSE:TPC)

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