Tutor Perini Corporation Expected to Post Q3 2017 Earnings of $0.64 Per Share (TPC)
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.
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