Tutor Perini Corporation (NYSE:TPC) Announces Quarterly Earnings Results

Tutor Perini Corporation (NYSE:TPC) issued its earnings results on Monday, August 7th. The construction company reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.02, Bloomberg Earnings reports. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Tutor Perini Corporation had a net margin of 2.08% and a return on equity of 6.60%. Tutor Perini Corporation’s revenue was down 4.7% on a year-over-year basis. During the same quarter last year, the company posted $0.43 earnings per share. Tutor Perini Corporation updated its FY17 guidance to $2.10 – $2.40 EPS.

Shares of Tutor Perini Corporation (TPC) opened at 24.15 on Friday. The company has a market cap of $1.20 billion, a PE ratio of 11.87 and a beta of 2.42. The company’s 50-day moving average price is $27.47 and its 200 day moving average price is $28.70. Tutor Perini Corporation has a one year low of $18.05 and a one year high of $33.00.

A number of institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. acquired a new position in shares of Tutor Perini Corporation during the first quarter valued at $101,000. Envestnet Asset Management Inc. raised its position in shares of Tutor Perini Corporation by 8.1% in the first quarter. Envestnet Asset Management Inc. now owns 4,516 shares of the construction company’s stock valued at $144,000 after buying an additional 340 shares in the last quarter. Pinnacle Associates Ltd. acquired a new position in shares of Tutor Perini Corporation during the first quarter valued at $205,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Tutor Perini Corporation during the first quarter valued at $218,000. Finally, BNP Paribas Arbitrage SA raised its position in shares of Tutor Perini Corporation by 239.8% in the second quarter. BNP Paribas Arbitrage SA now owns 8,112 shares of the construction company’s stock valued at $233,000 after buying an additional 5,725 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

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A number of equities research analysts have recently weighed in on TPC shares. Zacks Investment Research cut Tutor Perini Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. BidaskClub raised Tutor Perini Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. Finally, Canaccord Genuity reaffirmed a “buy” rating on shares of Tutor Perini Corporation in a report on Friday, June 23rd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. Tutor Perini Corporation currently has an average rating of “Buy” and a consensus target price of $31.29.

Tutor Perini Corporation Company Profile

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.

Earnings History for Tutor Perini Corporation (NYSE:TPC)

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