Tutor Perini Corporation (NYSE:TPC) Expected to Post Quarterly Sales of $1.48 Billion
Brokerages expect that Tutor Perini Corporation (NYSE:TPC) will announce $1.48 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Tutor Perini Corporation’s earnings, with the highest sales estimate coming in at $1.52 billion and the lowest estimate coming in at $1.44 billion. Tutor Perini Corporation reported sales of $1.33 billion during the same quarter last year, which indicates a positive year over year growth rate of 11.3%. The firm is scheduled to issue its next earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that Tutor Perini Corporation will report full year sales of $1.48 billion for the current financial year, with estimates ranging from $5.25 billion to $5.48 billion. For the next fiscal year, analysts forecast that the firm will post sales of $5.83 billion per share, with estimates ranging from $5.70 billion to $6.00 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Tutor Perini Corporation.
Tutor Perini Corporation (NYSE:TPC) last released its quarterly earnings data on Monday, August 7th. The construction company reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.02. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Tutor Perini Corporation had a return on equity of 6.60% and a net margin of 2.08%. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.43 EPS.
A number of analysts have recently issued reports on TPC shares. Canaccord Genuity reaffirmed a “buy” rating on shares of Tutor Perini Corporation in a research report on Friday, June 23rd. BidaskClub raised Tutor Perini Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 27th. Finally, Zacks Investment Research raised Tutor Perini Corporation from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Wednesday, July 5th. Two analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $31.29.
A number of institutional investors have recently bought and sold shares of TPC. Norges Bank purchased a new position in Tutor Perini Corporation during the fourth quarter worth approximately $1,646,000. Bank of America Corp DE increased its position in shares of Tutor Perini Corporation by 64.7% in the first 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. Shell Asset Management Co. bought a new position in shares of Tutor Perini Corporation during the first quarter worth approximately $1,165,000. ClariVest Asset Management LLC increased its position in shares of Tutor Perini Corporation by 23.8% in the first quarter. ClariVest Asset Management LLC now owns 234,245 shares of the construction company’s stock worth $7,448,000 after buying an additional 45,000 shares during the last quarter. Finally, KAMES CAPITAL plc bought a new position in shares of Tutor Perini Corporation during the first quarter worth approximately $737,000. Institutional investors and hedge funds own 81.17% of the company’s stock.
Tutor Perini Corporation (NYSE TPC) opened at 25.95 on Friday. Tutor Perini Corporation has a 52-week low of $18.05 and a 52-week high of $33.00. The stock’s 50 day moving average price is $27.88 and its 200 day moving average price is $28.91. The firm has a market capitalization of $1.29 billion, a PE ratio of 12.76 and a beta of 2.42.
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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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