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.
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