Seaport Global Securities Equities Analysts Increase Earnings Estimates for Tutor Perini Corporation (TPC)
Tutor Perini Corporation (NYSE:TPC) – Stock analysts at Seaport Global Securities raised their Q2 2018 EPS estimates for Tutor Perini Corporation in a research note issued on Monday. Seaport Global Securities analyst M. Shlisky now forecasts that the construction company will earn $0.75 per share for the quarter, up from their prior forecast of $0.72. Seaport Global Securities has a “Neutral” rating and a $31.00 price objective on the stock. Seaport Global Securities also issued estimates for Tutor Perini Corporation’s Q3 2018 earnings at $0.66 EPS and FY2018 earnings at $2.68 EPS.
A number of other research analysts have also recently weighed in on the company. BidaskClub cut Tutor Perini Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. KeyCorp restated a “hold” rating on shares of Tutor Perini Corporation in a research report on Friday, August 25th. Zacks Investment Research upgraded Tutor Perini Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. Canaccord Genuity restated a “buy” rating and issued a $35.00 price target on shares of Tutor Perini Corporation in a research report on Saturday, August 26th. Finally, B. Riley dropped their price target on Tutor Perini Corporation from $37.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $33.63.
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Shares of Tutor Perini Corporation (NYSE TPC) traded down $0.75 during mid-day trading on Tuesday, hitting $23.10. The stock had a trading volume of 484,700 shares, compared to its average volume of 350,568. Tutor Perini Corporation has a twelve month low of $22.60 and a twelve month high of $33.00. The stock has a market capitalization of $1,187.28, a PE ratio of 12.36, a P/E/G ratio of 1.31 and a beta of 2.39. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.52.
Tutor Perini Corporation (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 Corporation had a net margin of 2.03% and a return on equity of 6.16%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period last year, the business posted $0.57 EPS. Tutor Perini Corporation’s revenue was down 10.0% compared to the same quarter last year.
In related news, CEO Ronald N. Tutor sold 75,000 shares of Tutor Perini Corporation stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $26.09, for a total transaction of $1,956,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of Tutor Perini Corporation stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $26.11, for a total value of $652,750.00. Following the sale, the insider now owns 5,923,120 shares of the company’s stock, valued at approximately $154,652,663.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 175,000 shares of company stock valued at $4,566,711. 24.50% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the business. Ameriprise Financial Inc. boosted its stake in Tutor Perini Corporation 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 buying an additional 75,407 shares during the last quarter. Bank of America Corp DE boosted its stake in Tutor Perini Corporation by 64.7% in the 1st quarter. Bank of America Corp DE now owns 311,710 shares of the construction company’s stock worth $9,913,000 after buying an additional 122,419 shares during the last quarter. First Trust Advisors LP boosted its stake in Tutor Perini Corporation by 3.3% in the 2nd quarter. First Trust Advisors LP now owns 253,480 shares of the construction company’s stock worth $7,288,000 after buying an additional 8,011 shares during the last quarter. Parametrica Management Ltd acquired a new stake in Tutor Perini Corporation in the 3rd quarter worth about $688,000. Finally, TIAA CREF Investment Management LLC boosted its stake in Tutor Perini Corporation 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 buying an additional 11,708 shares during the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.
About Tutor Perini Corporation
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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