FY2018 EPS Estimates for Tutor Perini Corp Raised by Analyst (NYSE:TPC)

Tutor Perini Corp (NYSE:TPC) – Research analysts at B. Riley increased their FY2018 earnings estimates for shares of Tutor Perini in a report released on Wednesday, Zacks Investment Research reports. B. Riley analyst A. Rygiel now forecasts that the construction company will post earnings per share of $3.02 for the year, up from their prior estimate of $2.50. B. Riley currently has a “Buy” rating and a $35.00 target price on the stock.

Tutor Perini (NYSE:TPC) last released its 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). Tutor Perini had a return on equity of 6.16% and a net margin of 2.03%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the firm earned $0.57 earnings per share. The firm’s revenue for the quarter was down 10.0% compared to the same quarter last year.

A number of other brokerages also recently commented on TPC. Seaport Global Securities downgraded shares of Tutor Perini from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $40.00 to $31.00 in a research report on Wednesday, October 11th. Zacks Investment Research raised shares of Tutor Perini from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. Canaccord Genuity decreased their target price on shares of Tutor Perini from $35.00 to $32.00 and set a “buy” rating for the company in a research report on Friday, November 10th. ValuEngine downgraded shares of Tutor Perini from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Finally, decreased their target price on shares of Tutor Perini from $37.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, November 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $33.83.

Shares of Tutor Perini (NYSE:TPC) opened at $27.50 on Monday. Tutor Perini has a 1-year low of $22.60 and a 1-year high of $33.00. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.52. The stock has a market cap of $1,368.98, a P/E ratio of 14.25, a PEG ratio of 1.03 and a beta of 2.37.

In other news, Director Dale Ann Reiss sold 4,829 shares of the stock in a transaction on Monday, December 18th. The shares were sold at an average price of $27.28, for a total value of $131,735.12. Following the completion of the transaction, the director now owns 20,625 shares in the company, valued at approximately $562,650. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of the stock in a transaction 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 completion of the transaction, the insider now owns 5,823,120 shares of the company’s stock, valued at approximately $146,567,930.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,829 shares of company stock valued at $1,400,985. Corporate insiders own 24.50% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Ameriprise Financial Inc. grew its holdings in shares of Tutor Perini by 86.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 162,956 shares of the construction company’s stock worth $4,682,000 after purchasing an additional 75,407 shares during the last quarter. Parametrica Management Ltd bought a new stake in shares of Tutor Perini in the 3rd quarter worth about $688,000. TIAA CREF Investment Management LLC grew its holdings in shares of Tutor Perini by 8.7% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 146,439 shares of the construction company’s stock worth $4,210,000 after purchasing an additional 11,708 shares during the last quarter. State Street Corp grew its holdings in Tutor Perini by 4.7% during the 2nd quarter. State Street Corp now owns 750,365 shares of the construction company’s stock worth $21,576,000 after acquiring an additional 33,774 shares during the last quarter. Finally, D.A. Davidson & CO. grew its holdings in Tutor Perini by 47.6% during the 3rd quarter. D.A. Davidson & CO. now owns 52,083 shares of the construction company’s stock worth $1,479,000 after acquiring an additional 16,800 shares during the last quarter. 81.78% of the stock is currently owned by institutional investors and hedge funds.

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About Tutor Perini

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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