Tutor Perini Corporation (NYSE:TPC) – Analysts at DA Davidson decreased their Q3 2017 earnings estimates for shares of Tutor Perini Corporation in a report issued on Tuesday. DA Davidson analyst B. Thielman now expects that the construction company will earn $0.64 per share for the quarter, down from their previous estimate of $0.68.

Tutor Perini Corporation (NYSE:TPC) last announced its quarterly earnings data on Monday, August 7th. The construction company reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.02. Tutor Perini Corporation had a net margin of 2.08% and a return on equity of 6.66%. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the firm posted $0.43 EPS. The company’s quarterly revenue was down 4.7% compared to the same quarter last year.

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Other analysts have also issued research reports about the stock. Canaccord Genuity reiterated a “buy” rating on shares of Tutor Perini Corporation in a research note on Friday, June 23rd. Zacks Investment Research upgraded shares of Tutor Perini Corporation from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Wednesday, July 5th. Finally, BidaskClub upgraded shares of Tutor Perini Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $31.29.

Tutor Perini Corporation (TPC) opened at 28.00 on Wednesday. The firm has a market cap of $1.39 billion, a PE ratio of 14.94 and a beta of 2.42. Tutor Perini Corporation has a one year low of $18.05 and a one year high of $33.00. The stock has a 50 day moving average of $27.80 and a 200 day moving average of $28.93.

Several hedge funds have recently modified their holdings of the company. LSV Asset Management raised its stake 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 worth $56,478,000 after buying an additional 247,500 shares during the period. Pinnacle Associates Ltd. raised its stake in shares of Tutor Perini Corporation by 409.7% in the second quarter. Pinnacle Associates Ltd. now owns 32,875 shares of the construction company’s stock worth $945,000 after buying an additional 26,425 shares during the period. Oppenheimer & Co. Inc. raised its stake in shares of Tutor Perini Corporation by 2.0% in the second quarter. Oppenheimer & Co. Inc. now owns 26,000 shares of the construction company’s stock worth $748,000 after buying an additional 500 shares during the period. Principal Financial Group Inc. raised its stake in shares of Tutor Perini Corporation by 4,205.8% in the second quarter. Principal Financial Group Inc. now owns 384,639 shares of the construction company’s stock worth $11,058,000 after buying an additional 375,706 shares during the period. Finally, IndexIQ Advisors LLC bought a new stake in shares of Tutor Perini Corporation during the second quarter worth about $428,000. Institutional investors and hedge funds own 81.17% of the company’s stock.

Tutor Perini Corporation Company Profile

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.

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

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