Analysts Offer Predictions for Tutor Perini FY2024 Earnings

Tutor Perini Co. (NYSE:TPC) – Equities researchers at B. Riley lowered their FY2024 earnings per share (EPS) estimates for Tutor Perini in a research report issued on Thursday, November 7th. B. Riley analyst A. Rygiel now expects that the construction company will post earnings per share of ($1.47) for the year, down from their prior forecast of ($1.00). B. Riley has a “Buy” rating and a $40.00 price objective on the stock. The consensus estimate for Tutor Perini’s current full-year earnings is ($1.47) per share.

Tutor Perini (NYSE:TPC) last posted its quarterly earnings results 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). Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the business earned ($0.71) earnings per share. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year.

A number of other research firms have also recently issued reports on TPC. StockNews.com raised Tutor Perini from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. UBS Group raised their price objective on Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd.

Tutor Perini Stock Performance

TPC opened at $30.59 on Monday. Tutor Perini has a 12-month low of $7.22 and a 12-month high of $34.55. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of -12.19 and a beta of 1.50. The business has a 50 day moving average of $26.21 and a 200-day moving average of $23.00. The company has a quick ratio of 1.65, a current ratio of 1.55 and a debt-to-equity ratio of 0.53.

Institutional Trading of Tutor Perini

Several hedge funds have recently added to or reduced their stakes in the company. USA Financial Formulas lifted its holdings in Tutor Perini by 19.6% during the 3rd quarter. USA Financial Formulas now owns 3,451 shares of the construction company’s stock worth $94,000 after purchasing an additional 566 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Tutor Perini by 3.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,874 shares of the construction company’s stock worth $368,000 after purchasing an additional 571 shares during the last quarter. CWM LLC lifted its holdings in Tutor Perini by 53.0% during the 3rd quarter. CWM LLC now owns 2,622 shares of the construction company’s stock worth $71,000 after purchasing an additional 908 shares during the last quarter. Plato Investment Management Ltd acquired a new stake in Tutor Perini during the 3rd quarter worth approximately $52,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Tutor Perini during the 2nd quarter worth approximately $51,000. 65.01% of the stock is owned by institutional investors and hedge funds.

Tutor Perini Company Profile

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.