Tutor Perini Corporation (TPC) Expected to Post Earnings of $0.68 Per Share

Wall Street brokerages forecast that Tutor Perini Corporation (NYSE:TPC) will post earnings per share of $0.68 for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Tutor Perini Corporation’s earnings, with the highest EPS estimate coming in at $0.72 and the lowest estimate coming in at $0.64. Tutor Perini Corporation reported earnings per share of $0.57 in the same quarter last year, which would indicate a positive year over year growth rate of 19.3%. The company is expected to announce its next quarterly earnings report on Wednesday, November 1st.

According to Zacks, analysts expect that Tutor Perini Corporation will report full-year earnings of $2.21 per share for the current year, with EPS estimates ranging from $2.14 to $2.25. For the next year, analysts expect that the business will post earnings of $2.67 per share, with EPS estimates ranging from $2.47 to $2.85. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Tutor Perini Corporation.

Tutor Perini Corporation (NYSE:TPC) last posted its earnings results on Monday, August 7th. The construction company reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.02. The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the company posted $0.43 earnings per share.

A number of equities research analysts have recently commented on TPC shares. Zacks Investment Research cut shares of Tutor Perini Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Canaccord Genuity reiterated a “buy” rating and issued a $35.00 target price on shares of Tutor Perini Corporation in a research report on Saturday, August 26th. BidaskClub upgraded shares of Tutor Perini Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 27th. Finally, KeyCorp reiterated a “hold” rating on shares of Tutor Perini Corporation in a research 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 stock. Tutor Perini Corporation currently has an average rating of “Hold” and a consensus price target of $31.29.

In related news, CEO Ronald N. Tutor sold 3,617 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $26.02, for a total value of $94,114.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ronald N. Tutor sold 75,000 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $26.09, for a total transaction of $1,956,750.00. The disclosure for this sale can be found here. Insiders sold 175,000 shares of company stock valued at $4,566,711 in the last three months. 24.50% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its holdings in shares of Tutor Perini Corporation by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 4,173,742 shares of the construction company’s stock valued at $119,994,000 after purchasing an additional 16,874 shares during the period. Vanguard Group Inc. grew its holdings in shares of Tutor Perini Corporation by 7.6% in the first quarter. Vanguard Group Inc. now owns 3,236,399 shares of the construction company’s stock valued at $102,918,000 after purchasing an additional 229,127 shares during the period. LSV Asset Management grew its holdings in shares of Tutor Perini Corporation by 14.4% in the second quarter. LSV Asset Management now owns 1,964,456 shares of the construction company’s stock valued at $56,478,000 after purchasing an additional 247,500 shares during the period. Frontier Capital Management Co. LLC grew its holdings in shares of Tutor Perini Corporation by 7.6% in the second quarter. Frontier Capital Management Co. LLC now owns 1,952,211 shares of the construction company’s stock valued at $56,126,000 after purchasing an additional 138,699 shares during the period. Finally, Boston Partners grew its holdings in shares of Tutor Perini Corporation by 13.4% in the second quarter. Boston Partners now owns 1,717,633 shares of the construction company’s stock valued at $49,382,000 after purchasing an additional 203,488 shares during the period. 81.11% of the stock is owned by hedge funds and other institutional investors.

Tutor Perini Corporation (NYSE:TPC) traded up 3.14% during trading on Thursday, reaching $29.55. 340,716 shares of the company traded hands. The firm has a 50-day moving average price of $26.45 and a 200-day moving average price of $27.84. Tutor Perini Corporation has a 52 week low of $18.05 and a 52 week high of $33.00. The company has a market capitalization of $1.47 billion, a P/E ratio of 14.53 and a beta of 2.45.

TRADEMARK VIOLATION NOTICE: “Tutor Perini Corporation (TPC) Expected to Post Earnings of $0.68 Per Share” was first posted by Chaffey Breeze and is the property of of Chaffey Breeze. If you are viewing this news story on another publication, it was stolen and reposted in violation of United States and international trademark and copyright law. The original version of this news story can be viewed at https://www.chaffeybreeze.com/2017/10/06/tutor-perini-corporation-tpc-expected-to-post-earnings-of-0-68-per-share.html.

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.

Get a free copy of the Zacks research report on Tutor Perini Corporation (TPC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Tutor Perini Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tutor Perini Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply