Tutor Perini Corp. (TPC) Trading Down 2%
Shares of Tutor Perini Corp. (NYSE:TPC) dropped 2% on Thursday . The company traded as low as $23.14 and last traded at $23.27, with a volume of 148,902 shares. The stock had previously closed at $23.75.
TPC has been the topic of a number of analyst reports. FBR & Co upped their target price on shares of Tutor Perini Corp. from $18.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, May 5th. Zacks Investment Research raised shares of Tutor Perini Corp. from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research note on Saturday, May 7th. Standpoint Research cut shares of Tutor Perini Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, May 24th. MKM Partners started coverage on shares of Tutor Perini Corp. in a research note on Wednesday, June 29th. They issued a “neutral” rating and a $23.00 price target for the company. Finally, Canaccord Genuity reissued a “buy” rating and issued a $18.00 price target on shares of Tutor Perini Corp. in a research note on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. Tutor Perini Corp. currently has a consensus rating of “Hold” and an average target price of $24.29.
The stock’s 50 day moving average price is $24.20 and its 200 day moving average price is $19.38. The firm has a market capitalization of $1.15 billion and a P/E ratio of 17.85.
Tutor Perini Corp. (NYSE:TPC) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by $0.08. During the same quarter last year, the firm posted $0.41 earnings per share. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.40 billion. The company’s revenue was down .3% compared to the same quarter last year. Equities analysts forecast that Tutor Perini Corp. will post $2.04 earnings per share for the current fiscal year.
An institutional investor recently raised its position in Tutor Perini Corp. stock. Wells Fargo & Company MN boosted its position in Tutor Perini Corp. (NYSE:TPC) by 8.0% during the fourth quarter, according to its most recent filing with the 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 2.24% of Tutor Perini Corp. worth $18,399,000 at the end of the most recent quarter.
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.