Zacks: Brokerages Expect Tutor Perini Corp (TPC) to Post $0.68 Earnings Per Share

Brokerages expect Tutor Perini Corp (NYSE:TPC) to report earnings of $0.68 per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Tutor Perini’s earnings. The highest EPS estimate is $0.68 and the lowest is $0.67. Tutor Perini posted earnings of $0.47 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 44.7%. The firm is scheduled to report its next earnings results after the market closes on Wednesday, November 7th.

According to Zacks, analysts expect that Tutor Perini will report full-year earnings of $1.86 per share for the current year, with EPS estimates ranging from $1.80 to $1.93. For the next fiscal year, analysts forecast that the company will post earnings of $2.87 per share, with EPS estimates ranging from $2.51 to $3.10. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that cover Tutor Perini.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings data on Tuesday, August 7th. The construction company reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.18. Tutor Perini had a return on equity of 4.55% and a net margin of 2.58%. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.17 billion.

Several analysts have recently weighed in on the company. MKM Partners set a $28.00 price objective on Tutor Perini and gave the stock a “buy” rating in a report on Friday, September 28th. Zacks Investment Research raised Tutor Perini from a “sell” rating to a “hold” rating in a report on Friday, August 10th. ValuEngine raised Tutor Perini from a “strong sell” rating to a “sell” rating in a report on Thursday, August 2nd. Finally, B. Riley decreased their price objective on Tutor Perini from $28.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, August 8th. Two analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. Tutor Perini currently has a consensus rating of “Buy” and a consensus price target of $29.57.

Shares of NYSE:TPC opened at $16.94 on Wednesday. Tutor Perini has a 1-year low of $15.06 and a 1-year high of $28.30. The company has a market cap of $811.77 million, a PE ratio of 11.76, a PEG ratio of 0.76 and a beta of 2.06. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.46.

In related news, CEO Ronald N. Tutor sold 32,574 shares of the business’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $20.10, for a total value of $654,737.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder N. Tutor Separate Prope Ronald sold 27,433 shares of the business’s stock in a transaction on Friday, August 24th. The shares were sold at an average price of $20.02, for a total value of $549,208.66. Following the completion of the sale, the insider now directly owns 5,698,983 shares in the company, valued at approximately $114,093,639.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 117,574 shares of company stock worth $2,367,300. 24.50% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in TPC. BlackRock Inc. boosted its stake in Tutor Perini by 0.6% in the 1st quarter. BlackRock Inc. now owns 2,521,192 shares of the construction company’s stock valued at $55,594,000 after buying an additional 13,943 shares in the last quarter. UBS Group AG boosted its stake in Tutor Perini by 5.7% in the first quarter. UBS Group AG now owns 238,131 shares of the construction company’s stock worth $5,251,000 after purchasing an additional 12,810 shares in the last quarter. Millennium Management LLC boosted its stake in Tutor Perini by 2,038.4% in the first quarter. Millennium Management LLC now owns 627,230 shares of the construction company’s stock worth $13,830,000 after purchasing an additional 597,898 shares in the last quarter. Xact Kapitalforvaltning AB acquired a new position in Tutor Perini in the first quarter worth $210,000. Finally, Penn Capital Management Co. Inc. acquired a new position in Tutor Perini in the second quarter worth $2,465,000. 86.74% of the stock is currently owned by institutional investors and hedge funds.

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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