$0.50 EPS Expected for Tutor Perini Corporation (TPC) This Quarter

Wall Street analysts predict that Tutor Perini Corporation (NYSE:TPC) will report $0.50 earnings per share for the current quarter, Zacks reports. Four analysts have provided estimates for Tutor Perini’s earnings, with the highest EPS estimate coming in at $0.54 and the lowest estimate coming in at $0.47. Tutor Perini reported earnings per share of $0.60 in the same quarter last year, which would suggest a negative year over year growth rate of 16.7%. The firm is scheduled to announce its next quarterly earnings results on Thursday, February 22nd.

On average, analysts expect that Tutor Perini will report full year earnings of $1.83 per share for the current year, with EPS estimates ranging from $1.80 to $1.87. For the next financial year, analysts forecast that the business will report earnings of $2.55 per share, with EPS estimates ranging from $2.20 to $2.80. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Tutor Perini.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings results on Thursday, November 9th. The construction company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.22). The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.54 billion. Tutor Perini had a return on equity of 6.16% and a net margin of 2.03%. The business’s revenue was down 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.57 earnings per share.

Several analysts recently issued reports on TPC shares. KeyCorp restated a “hold” rating on shares of Tutor Perini in a research report on Friday, August 25th. Canaccord Genuity restated a “buy” rating and set a $35.00 target price on shares of Tutor Perini in a research report on Saturday, August 26th. Seaport Global Securities lowered shares of Tutor Perini from a “buy” rating to a “neutral” rating and cut their target price for the company from $40.00 to $31.00 in a research report on Wednesday, October 11th. Zacks Investment Research upgraded shares of Tutor Perini from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. Finally, B. Riley restated a “buy” rating on shares of Tutor Perini in a research report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $33.86.

In other Tutor Perini news, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of Tutor Perini stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $25.17, for a total transaction of $629,250.00. Following the transaction, the insider now owns 5,823,120 shares of the company’s stock, valued at $146,567,930.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dale Ann Reiss sold 4,829 shares of Tutor Perini stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $27.28, for a total transaction of $131,735.12. Following the transaction, the director now directly owns 20,625 shares in the company, valued at approximately $562,650. The disclosure for this sale can be found here. Insiders have sold 54,829 shares of company stock worth $1,400,985 in the last ninety days. Insiders own 24.50% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in TPC. Boston Partners lifted its holdings in shares of Tutor Perini by 33.2% in the third quarter. Boston Partners now owns 2,288,432 shares of the construction company’s stock worth $64,992,000 after buying an additional 570,799 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Tutor Perini by 4,205.8% in the second quarter. Principal Financial Group Inc. now owns 384,639 shares of the construction company’s stock worth $11,058,000 after buying an additional 375,706 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Tutor Perini by 59.9% in the second quarter. Northern Trust Corp now owns 764,431 shares of the construction company’s stock worth $21,978,000 after buying an additional 286,310 shares in the last quarter. Formula Growth Ltd. purchased a new position in shares of Tutor Perini in the third quarter worth $7,526,000. Finally, LSV Asset Management lifted its holdings in shares of Tutor Perini by 14.4% in the second quarter. LSV Asset Management now owns 1,964,456 shares of the construction company’s stock worth $56,478,000 after buying an additional 247,500 shares in the last quarter. 81.78% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Tutor Perini (TPC) traded down $0.30 during midday trading on Wednesday, reaching $27.00. 388,800 shares of the company traded hands, compared to its average volume of 363,268. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.07 and a quick ratio of 2.07. The company has a market capitalization of $1,350.00, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 1.49 and a beta of 2.36. Tutor Perini has a 12 month low of $22.60 and a 12 month high of $33.00.

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Tutor Perini 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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Earnings History and Estimates for Tutor Perini (NYSE:TPC)

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