Brokerages expect Tutor Perini Corp (NYSE:TPC) to report $1.31 billion in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Tutor Perini’s earnings, with estimates ranging from $1.29 billion to $1.35 billion. Tutor Perini posted sales of $1.20 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 9.2%. The firm is scheduled to announce its next quarterly earnings results on Thursday, November 8th.
According to Zacks, analysts expect that Tutor Perini will report full year sales of $4.88 billion for the current year, with estimates ranging from $4.81 billion to $4.92 billion. For the next fiscal year, analysts forecast that the business will report sales of $5.59 billion, with estimates ranging from $5.34 billion to $5.77 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Tutor Perini.
Tutor Perini (NYSE:TPC) last posted its quarterly earnings data on Tuesday, August 7th. The construction company reported $0.49 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.18. Tutor Perini had a net margin of 2.58% and a return on equity of 4.55%. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.17 billion.
A number of equities analysts have recently commented on TPC shares. ValuEngine downgraded shares of Tutor Perini from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 22nd. Zacks Investment Research upgraded shares of Tutor Perini from a “sell” rating to a “hold” rating in a research note 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 for the company in a research note on Wednesday, August 8th. Finally, MKM Partners set a $28.00 target price on shares of Tutor Perini and gave the company a “buy” rating in a research note on Tuesday, August 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $29.57.
Shares of Tutor Perini stock traded up $0.44 during trading hours on Tuesday, reaching $18.48. 234,700 shares of the company’s stock were exchanged, compared to its average volume of 444,037. Tutor Perini has a fifty-two week low of $17.36 and a fifty-two week high of $29.15. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.97 and a quick ratio of 1.97. The company has a market cap of $940.31 million, a price-to-earnings ratio of 12.53, a P/E/G ratio of 0.87 and a beta of 2.06.
In related news, major shareholder N. Tutor Separate Prope Ronald sold 12,618 shares of the firm’s stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $20.32, for a total value of $256,397.76. Following the completion of the sale, the insider now directly owns 5,698,983 shares in the company, valued at approximately $115,803,334.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ronald N. Tutor sold 27,375 shares of the firm’s stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $20.24, for a total transaction of $554,070.00. The disclosure for this sale can be found here. Insiders sold a total of 117,574 shares of company stock valued at $2,367,300 over the last quarter. 24.70% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in TPC. Schwab Charles Investment Management Inc. raised its holdings in Tutor Perini by 11.1% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 427,334 shares of the construction company’s stock valued at $9,423,000 after acquiring an additional 42,587 shares during the period. Northern Trust Corp raised its holdings in Tutor Perini by 0.7% in the 1st quarter. Northern Trust Corp now owns 905,959 shares of the construction company’s stock valued at $19,977,000 after acquiring an additional 6,517 shares during the period. BlackRock Inc. raised its holdings 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 acquiring an additional 13,943 shares during the period. New York State Common Retirement Fund raised its holdings in Tutor Perini by 38.3% in the 1st quarter. New York State Common Retirement Fund now owns 54,920 shares of the construction company’s stock valued at $1,211,000 after acquiring an additional 15,220 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Tutor Perini by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,197,711 shares of the construction company’s stock valued at $92,560,000 after acquiring an additional 11,080 shares during the period. 86.67% of the stock is currently owned by hedge funds and other institutional investors.
About Tutor Perini
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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