Tutor Perini Corp. (TPC) Lifted to Hold at Zacks Investment Research
According to Zacks, “Tutor Perini Corporation provides diversified general contracting, construction management and design-build services to private clients and public agencies worldwide. The company operates in four segments: Civil, Building, Specialty Contractors, and Management Services. The Civil segment engages in public works construction activities and the repair, replacement, and reconstruction of infrastructure. The Building segment offers services in specialized building markets, including hospitality and gaming, transportation, healthcare, municipal offices, sports and entertainment, education, correctional facilities, biotech, pharmaceutical, industrial, and high technology. The Specialty Contractors segment provides plumbing, HVAC, electrical, mechanical, and concrete services for the industrial, commercial, hospitality and gaming, and transportation markets. The Management Services segment offers construction and design-build services to the U.S. military and government agencies, and multi-national corporations. “
Several other research analysts have also recently weighed in on TPC. MKM Partners started coverage on Tutor Perini Corp. in a research report on Wednesday, June 29th. They set a neutral rating and a $23.00 price target for the company. Canaccord Genuity reiterated a buy rating and set a $18.00 price target on shares of Tutor Perini Corp. in a research report on Wednesday, June 29th. FBR & Co reiterated an outperform rating and set a $26.00 price target (up from $22.00) on shares of Tutor Perini Corp. in a research report on Thursday, June 30th. TheStreet cut Tutor Perini Corp. from a buy rating to a hold rating in a research report on Wednesday, August 3rd. Finally, Standpoint Research upgraded Tutor Perini Corp. from a hold rating to a buy rating in a research report on Monday, October 3rd. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $24.29.
Tutor Perini Corp. (NYSE:TPC) opened at 21.42 on Thursday. The company has a market capitalization of $1.05 billion, a P/E ratio of 16.35 and a beta of 2.48. Tutor Perini Corp. has a 1-year low of $10.16 and a 1-year high of $25.98. The firm has a 50-day moving average price of $22.00 and a 200 day moving average price of $21.23.
Tutor Perini Corp. (NYSE:TPC) last announced its quarterly earnings data 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. Tutor Perini Corp. had a return on equity of 5.49% and a net margin of 1.32%. The firm earned $1.31 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the previous year, the business earned $0.41 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. On average, equities analysts predict that Tutor Perini Corp. will post $2.04 EPS for the current year.
Several hedge funds have recently modified their holdings of the company. Prudential Financial Inc. purchased a new stake in shares of Tutor Perini Corp. during the first quarter worth about $740,000. BlackRock Inc. raised its stake in shares of Tutor Perini Corp. by 9.0% in the first quarter. BlackRock Inc. now owns 12,899 shares of the company’s stock worth $200,000 after buying an additional 1,064 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Tutor Perini Corp. by 1.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 985,170 shares of the company’s stock worth $15,310,000 after buying an additional 16,868 shares in the last quarter. UBS Group AG raised its stake in shares of Tutor Perini Corp. by 4.8% in the first quarter. UBS Group AG now owns 251,868 shares of the company’s stock worth $3,914,000 after buying an additional 11,513 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Tutor Perini Corp. during the first quarter worth about $645,000. 82.48% of the stock is currently owned by hedge funds and other institutional investors.
About Tutor Perini Corp.
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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