Tutor Perini (NYSE:TPC) Issues Q1 2024 Earnings Guidance

Tutor Perini (NYSE:TPC) issued an update on its first quarter 2024 earnings guidance on Friday morning. The company provided EPS guidance of 0.270-0.320 for the period, compared to the consensus EPS estimate of -0.170. The company issued revenue guidance of $1.0 billion-$1.1 billion, compared to the consensus revenue estimate of $874.6 million.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Tutor Perini from a buy rating to a hold rating in a research report on Saturday, March 30th.

Tutor Perini Price Performance

TPC opened at $13.30 on Friday. The company’s 50 day simple moving average is $12.35 and its 200 day simple moving average is $9.67. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.66 and a quick ratio of 1.66. Tutor Perini has a 1 year low of $4.90 and a 1 year high of $16.33.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings results on Wednesday, February 28th. The construction company reported ($0.91) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.98). The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $951.50 million. Tutor Perini had a negative net margin of 4.41% and a negative return on equity of 12.73%. On average, equities analysts forecast that Tutor Perini will post 0.92 EPS for the current year.

Insider Buying and Selling

In other Tutor Perini news, President Gary G. Smalley sold 27,958 shares of Tutor Perini stock in a transaction on Monday, March 18th. The shares were sold at an average price of $12.86, for a total value of $359,539.88. Following the completion of the transaction, the president now owns 112,245 shares of the company’s stock, valued at $1,443,470.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, President Gary G. Smalley sold 27,958 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $12.86, for a total value of $359,539.88. Following the completion of the sale, the president now owns 112,245 shares of the company’s stock, valued at $1,443,470.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Gary G. Smalley sold 15,940 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $13.28, for a total transaction of $211,683.20. Following the completion of the sale, the president now directly owns 68,346 shares of the company’s stock, valued at approximately $907,634.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 64,201 shares of company stock worth $822,980. Insiders own 21.30% of the company’s stock.

Institutional Investors Weigh In On Tutor Perini

Institutional investors and hedge funds have recently bought and sold shares of the business. Schonfeld Strategic Advisors LLC lifted its holdings in Tutor Perini by 17.5% in the 2nd quarter. Schonfeld Strategic Advisors LLC now owns 12,100 shares of the construction company’s stock valued at $87,000 after acquiring an additional 1,800 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in Tutor Perini in the 3rd quarter valued at about $91,000. Captrust Financial Advisors acquired a new stake in Tutor Perini in the 2nd quarter valued at about $94,000. Public Employees Retirement Association of Colorado lifted its stake in Tutor Perini by 42.6% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 10,465 shares of the construction company’s stock valued at $95,000 after buying an additional 3,124 shares in the last quarter. Finally, Two Sigma Securities LLC purchased a new stake in Tutor Perini during the first quarter valued at about $125,000. 65.01% of the stock is owned by institutional investors and hedge funds.

About Tutor Perini

Tutor Perini Corporation, a construction company, provides diversified general contracting, construction management, and design-build services to private customers and public agencies in the United States and internationally. It operates through three segments: Civil, Building, and Specialty Contractors.