Brokers Offer Predictions for Tutor Perini Corporation’s Q3 2017 Earnings (TPC)

Tutor Perini Corporation (NYSE:TPC) – Equities researchers at KeyCorp lowered their Q3 2017 earnings per share (EPS) estimates for shares of Tutor Perini Corporation in a report issued on Monday. KeyCorp analyst S. Eastman now expects that the construction company will post earnings per share of $0.68 for the quarter, down from their previous forecast of $0.71. KeyCorp also issued estimates for Tutor Perini Corporation’s Q4 2017 earnings at $0.60 EPS.

TPC has been the topic of a number of other reports. BidaskClub raised shares of Tutor Perini Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Zacks Investment Research lowered shares of Tutor Perini Corporation from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Canaccord Genuity reissued a “buy” rating on shares of Tutor Perini Corporation in a research note on Friday, June 23rd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $31.29.

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Shares of Tutor Perini Corporation (NYSE:TPC) opened at 25.95 on Thursday. The firm’s 50-day moving average price is $27.88 and its 200-day moving average price is $28.91. The stock has a market capitalization of $1.29 billion, a P/E ratio of 12.76 and a beta of 2.42. Tutor Perini Corporation has a 12 month low of $18.05 and a 12 month high of $33.00.

Tutor Perini Corporation (NYSE:TPC) last issued its quarterly earnings data on Monday, August 7th. The construction company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Tutor Perini Corporation had a return on equity of 6.60% and a net margin of 2.08%. The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the business posted $0.43 earnings per share. The company’s quarterly revenue was down 4.7% compared to the same quarter last year.

Several hedge funds have recently added to or reduced their stakes in TPC. Dimensional Fund Advisors LP raised its stake in Tutor Perini Corporation by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 4,173,742 shares of the construction company’s stock valued at $119,994,000 after buying an additional 16,874 shares during the last quarter. Nordea Investment Management AB raised its stake in Tutor Perini Corporation by 0.9% in the second quarter. Nordea Investment Management AB now owns 236,300 shares of the construction company’s stock valued at $6,794,000 after buying an additional 2,100 shares during the last quarter. MML Investors Services LLC raised its stake in Tutor Perini Corporation by 8.7% in the second quarter. MML Investors Services LLC now owns 18,345 shares of the construction company’s stock valued at $527,000 after buying an additional 1,473 shares during the last quarter. Northern Trust Corp raised its stake in Tutor Perini Corporation by 59.9% in the second quarter. Northern Trust Corp now owns 764,431 shares of the construction company’s stock valued at $21,978,000 after buying an additional 286,310 shares during the last quarter. Finally, GSA Capital Partners LLP raised its stake in Tutor Perini Corporation by 110.3% in the second quarter. GSA Capital Partners LLP now owns 46,239 shares of the construction company’s stock valued at $1,329,000 after buying an additional 24,250 shares during the last quarter. 81.17% of the stock is currently owned by hedge funds and other institutional investors.

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 and Estimates for Tutor Perini Corporation (NYSE:TPC)

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