Tutor Perini Corporation (NYSE:TPC) Shareholders to Get $0.09 Quarterly Dividend

Tutor Perini Corporation (NYSE:TPC) declared a quarterly dividend on Wednesday, November 4th. Stockholders of record on Thursday, November 19th will be paid a dividend of $0.09 per share by the construction company on Thursday, December 3rd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Thursday, November 19th.

Tutor Perini has a dividend payout ratio of 11.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Tutor Perini to earn $6.10 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 5.9%.

Tutor Perini Stock Down 0.3%

Tutor Perini stock opened at $82.64 on Thursday. Tutor Perini has a 1-year low of $57.90 and a 1-year high of $102.30. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market capitalization of $4.35 billion, a price-to-earnings ratio of 35.62 and a beta of 2.12. The business has a fifty day moving average price of $84.02 and a 200-day moving average price of $81.44.

Tutor Perini (NYSE:TPC) last posted its quarterly earnings data on Wednesday, November 4th. The construction company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.34 by $0.49. Tutor Perini had a net margin of 2.08% and a return on equity of 20.95%. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the previous year, the firm posted $0.07 earnings per share. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. Equities research analysts forecast that Tutor Perini will post 5.39 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Weiss Ratings lowered shares of Tutor Perini from a “buy (b-)” rating to a “hold (c)” rating in a research note on Friday, October 23rd. UBS Group lifted their price target on shares of Tutor Perini from $98.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Wall Street Zen upgraded Tutor Perini from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Finally, Zacks Research downgraded shares of Tutor Perini from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Tutor Perini currently has an average rating of “Moderate Buy” and an average price target of $105.00.

About Tutor Perini

Tutor Perini Corporation (NYSE:TPC) is a construction company that provides general contracting, construction management, and design-build services. Its operations are organized around civil, building, and specialty contracting activities, serving public agencies, private developers, and other institutional customers.

The company’s civil construction work includes major infrastructure such as highways, bridges, tunnels, mass-transit systems, airports, water and wastewater facilities, and other transportation and utility projects.