Tutor Perini Co. (NYSE:TPC - Free Report) - Equities research analysts at B. Riley cut their FY2024 earnings per share (EPS) estimates for Tutor Perini in a report released on Thursday, November 7th. B. Riley analyst A. Rygiel now forecasts that the construction company will earn ($1.47) per share for the year, down from their prior forecast of ($1.00). B. Riley has a "Buy" rating and a $40.00 price target on the stock. The consensus estimate for Tutor Perini's current full-year earnings is ($1.47) per share.
A number of other analysts have also weighed in on the company. UBS Group increased their price objective on Tutor Perini from $27.00 to $39.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. StockNews.com upgraded shares of Tutor Perini from a "hold" rating to a "buy" rating in a research report on Thursday.
Read Our Latest Analysis on Tutor Perini
NYSE TPC opened at $30.51 on Monday. Tutor Perini has a 12-month low of $6.86 and a 12-month high of $34.55. The company has a quick ratio of 1.65, a current ratio of 1.55 and a debt-to-equity ratio of 0.53. The company has a 50-day simple moving average of $26.08 and a two-hundred day simple moving average of $22.88. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -12.16 and a beta of 1.50.
Tutor Perini (NYSE:TPC - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The construction company reported ($1.92) earnings per share for the quarter, missing analysts' consensus estimates of ($1.89) by ($0.03). The firm had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.17 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The business's quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.71) earnings per share.
Several large investors have recently bought and sold shares of the company. CWM LLC boosted its holdings in shares of Tutor Perini by 142.8% during the 2nd quarter. CWM LLC now owns 1,714 shares of the construction company's stock valued at $37,000 after buying an additional 1,008 shares in the last quarter. Plato Investment Management Ltd purchased a new position in shares of Tutor Perini during the third quarter valued at approximately $52,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Tutor Perini during the second quarter valued at approximately $51,000. nVerses Capital LLC purchased a new position in shares of Tutor Perini during the second quarter valued at approximately $63,000. Finally, USA Financial Formulas grew its stake in shares of Tutor Perini by 19.6% in the 3rd quarter. USA Financial Formulas now owns 3,451 shares of the construction company's stock worth $94,000 after buying an additional 566 shares during the last quarter. 65.01% of the stock is owned by institutional investors.
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.
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