Seaport Global Securities Research Analysts Lift Earnings Estimates for Tutor Perini Corporation (TPC)

Tutor Perini Corporation (NYSE:TPC) – Research analysts at Seaport Global Securities increased their Q2 2018 earnings per share (EPS) estimates for shares of Tutor Perini Corporation in a research report issued to clients and investors on Monday. Seaport Global Securities analyst M. Shlisky now forecasts that the construction company will post earnings of $0.75 per share for the quarter, up from their prior estimate of $0.72. Seaport Global Securities currently has a “Neutral” rating and a $31.00 price target on the stock. Seaport Global Securities also issued estimates for Tutor Perini Corporation’s Q3 2018 earnings at $0.66 EPS and FY2018 earnings at $2.68 EPS.

Tutor Perini Corporation (NYSE:TPC) last posted its quarterly earnings results on Thursday, November 9th. The construction company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.22). The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.54 billion. Tutor Perini Corporation had a net margin of 2.03% and a return on equity of 6.22%. The company’s revenue was down 10.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.57 earnings per share. COPYRIGHT VIOLATION WARNING: “Seaport Global Securities Research Analysts Lift Earnings Estimates for Tutor Perini Corporation (TPC)” was posted by TrueBlueTribune and is the property of of TrueBlueTribune. If you are accessing this piece on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark law. The correct version of this piece can be viewed at https://www.truebluetribune.com/2017/11/14/seaport-global-securities-research-analysts-lift-earnings-estimates-for-tutor-perini-corporation-tpc.html.

A number of other equities analysts have also issued reports on the stock. Canaccord Genuity decreased their target price on shares of Tutor Perini Corporation from $35.00 to $32.00 and set a “buy” rating for the company in a research report on Friday. B. Riley reiterated a “buy” rating on shares of Tutor Perini Corporation in a research report on Wednesday, November 1st. KeyCorp reiterated a “hold” rating on shares of Tutor Perini Corporation in a research report on Friday, August 25th. Zacks Investment Research raised shares of Tutor Perini Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. Finally, ValuEngine downgraded shares of Tutor Perini Corporation from a “buy” rating to a “hold” rating in a report on Friday. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $33.17.

Shares of Tutor Perini Corporation (NYSE TPC) opened at $24.50 on Tuesday. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.52. Tutor Perini Corporation has a 12 month low of $22.60 and a 12 month high of $33.00. The firm has a market cap of $1,204.70, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 1.33 and a beta of 2.39.

Several large investors have recently added to or reduced their stakes in the company. Falcon Point Capital LLC lifted its stake in Tutor Perini Corporation by 0.7% in the 2nd quarter. Falcon Point Capital LLC now owns 62,159 shares of the construction company’s stock valued at $1,787,000 after acquiring an additional 447 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Tutor Perini Corporation by 1.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,820 shares of the construction company’s stock worth $858,000 after acquiring an additional 481 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Tutor Perini Corporation by 2.0% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 26,000 shares of the construction company’s stock worth $748,000 after acquiring an additional 500 shares during the last quarter. Teachers Advisors LLC increased its holdings in shares of Tutor Perini Corporation by 0.8% during the 2nd quarter. Teachers Advisors LLC now owns 67,275 shares of the construction company’s stock worth $1,934,000 after acquiring an additional 511 shares during the last quarter. Finally, Aperio Group LLC increased its holdings in shares of Tutor Perini Corporation by 7.1% during the 2nd quarter. Aperio Group LLC now owns 10,722 shares of the construction company’s stock worth $308,000 after acquiring an additional 715 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

In other Tutor Perini Corporation news, CEO Ronald N. Tutor sold 3,617 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $26.02, for a total transaction of $94,114.34. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Ronald N. Tutor sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $26.09, for a total value of $1,956,750.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 175,000 shares of company stock valued at $4,566,711. Company insiders own 24.50% of the company’s stock.

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.

Earnings History and Estimates for Tutor Perini Corporation (NYSE:TPC)

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