An issue of Tutor Perini Corporation (NYSE:TPC) bonds rose 0.8% against their face value during trading on Monday. The high-yield issue of debt has a 6.875% coupon and is set to mature on May 1, 2025. The debt is now trading at $107.75. Price changes in a company’s bonds in credit markets sometimes anticipate parallel changes in its stock price.
TPC has been the topic of several recent research reports. BidaskClub raised Tutor Perini Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Zacks Investment Research downgraded Tutor Perini Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. 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 given a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $31.29.
Tutor Perini Corporation (TPC) opened at 24.15 on Friday. The company’s 50-day moving average price is $27.47 and its 200-day moving average price is $28.70. The company has a market cap of $1.20 billion, a PE ratio of 11.87 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 announced its earnings results on Monday, August 7th. The construction company reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.02. Tutor Perini Corporation had a net margin of 2.08% and a return on equity of 6.60%. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the prior year, the company earned $0.43 earnings per share. The firm’s revenue was down 4.7% on a year-over-year basis. Equities analysts anticipate that Tutor Perini Corporation will post $2.27 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. purchased a new position in Tutor Perini Corporation during the first quarter worth $101,000. Envestnet Asset Management Inc. raised its position in 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 worth $144,000 after buying an additional 340 shares during the last quarter. Pinnacle Associates Ltd. purchased a new position in Tutor Perini Corporation during the first quarter worth $205,000. Raymond James Financial Services Advisors Inc. purchased a new position in Tutor Perini Corporation during the first quarter worth $218,000. Finally, BNP Paribas Arbitrage SA raised its position in 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 worth $233,000 after buying an additional 5,725 shares during the last quarter. Institutional investors and hedge funds own 82.15% 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.
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