Tutor Perini Corp. (TPC) Shares Up 4.1%
Tutor Perini Corp. (NYSE:TPC) shares shot up 4.1% during mid-day trading on Wednesday . The stock traded as high as $24.21 and last traded at $23.69, with a volume of 587,699 shares traded. The stock had previously closed at $22.75.
Several brokerages recently issued reports on TPC. MKM Partners raised Tutor Perini Corp. from a “neutral” rating to a “buy” rating and raised their target price for the stock from $23.00 to $28.00 in a research report on Wednesday. Canaccord Genuity reaffirmed a “buy” rating on shares of Tutor Perini Corp. in a research report on Sunday, July 17th. TheStreet lowered Tutor Perini Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Zacks Investment Research lowered Tutor Perini Corp. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 6th. Finally, FBR & Co reissued an “outperform” rating and issued a $26.00 price objective (up from $22.00) on shares of Tutor Perini Corp. in a research report on Thursday, June 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. Tutor Perini Corp. presently has a consensus rating of “Hold” and a consensus price target of $24.29.
The company’s 50 day moving average is $24.21 and its 200 day moving average is $19.32. The stock has a market capitalization of $1.18 billion and a P/E ratio of 18.27.
Tutor Perini Corp. (NYSE:TPC) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by $0.08. During the same period last year, the firm posted $0.41 EPS. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.40 billion. The firm’s revenue for the quarter was down .3% on a year-over-year basis. Analysts anticipate that Tutor Perini Corp. will post $2.03 earnings per share for the current year.
An institutional investor recently raised its position in Tutor Perini Corp. stock. Wells Fargo & Company MN raised its stake in shares of Tutor Perini Corp. (NYSE:TPC) by 8.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,099,035 shares of the company’s stock after buying an additional 81,024 shares during the period. Wells Fargo & Company MN owned approximately 2.24% of Tutor Perini Corp. worth $18,399,000 as of its most recent SEC filing.
Tutor Perini Corporation, formerly Perini Corporation, is a construction company offering general contracting, construction management and design-build services to private customers and public agencies. The Company operates through three segments. The Civil segment specializes in public works construction and the repair, replacement and reconstruction of infrastructure.
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