Tutor Perini Corporation (TPC) Price Target Cut to $35.00 by Analysts at B. Riley

Tutor Perini Corporation (NYSE:TPC) had its price target lowered by B. Riley from $37.00 to $35.00 in a research note published on Tuesday, Marketbeat.com reports. B. Riley currently has a buy rating on the construction company’s stock. B. Riley also issued estimates for Tutor Perini Corporation’s Q4 2017 earnings at $0.54 EPS, FY2017 earnings at $1.87 EPS and FY2018 earnings at $2.50 EPS.

Several other brokerages also recently issued reports on TPC. Canaccord Genuity lowered their price objective 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, November 10th. Seaport Global Securities downgraded shares of Tutor Perini Corporation from a buy rating to a neutral rating and lowered their price objective for the company from $40.00 to $31.00 in a research report on Wednesday, October 11th. ValuEngine downgraded shares of Tutor Perini Corporation from a buy rating to a hold rating in a research report on Friday, November 10th. KeyCorp reissued a hold rating on shares of Tutor Perini Corporation in a research report on Friday, August 25th. Finally, Zacks Investment Research raised shares of Tutor Perini Corporation from a sell rating to a hold rating in a research report on Wednesday, October 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $33.63.

Shares of Tutor Perini Corporation (NYSE TPC) opened at $23.50 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.07 and a quick ratio of 2.07. Tutor Perini Corporation has a 1 year low of $22.60 and a 1 year high of $33.00. The stock has a market cap of $1,160.00, a P/E ratio of 12.36, a price-to-earnings-growth ratio of 1.31 and a beta of 2.39.

Tutor Perini Corporation (NYSE:TPC) last issued its quarterly earnings data on Thursday, November 9th. The construction company reported $0.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.22). Tutor Perini Corporation had a net margin of 2.03% and a return on equity of 6.16%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period last year, the business earned $0.57 EPS. The firm’s revenue was down 10.0% compared to the same quarter last year. equities research analysts forecast that Tutor Perini Corporation will post 1.82 EPS for the current fiscal year.

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In related news, CEO Ronald N. Tutor sold 75,000 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $26.09, for a total transaction of $1,956,750.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $26.11, for a total value of $652,750.00. Following the transaction, the insider now owns 5,923,120 shares in the company, valued at $154,652,663.20. The disclosure for this sale can be found here. Insiders have sold 175,000 shares of company stock worth $4,566,711 over the last 90 days. 24.50% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Falcon Point Capital LLC lifted its stake in Tutor Perini Corporation by 0.7% during the second quarter. Falcon Point Capital LLC now owns 62,159 shares of the construction company’s stock worth $1,787,000 after purchasing an additional 447 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Tutor Perini Corporation by 1.6% during the second quarter. The Manufacturers Life Insurance Company now owns 29,820 shares of the construction company’s stock worth $858,000 after purchasing an additional 481 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in Tutor Perini Corporation by 2.0% during the second quarter. Oppenheimer & Co. Inc. now owns 26,000 shares of the construction company’s stock worth $748,000 after purchasing an additional 500 shares during the last quarter. Teachers Advisors LLC lifted its stake in Tutor Perini Corporation by 0.8% during the second quarter. Teachers Advisors LLC now owns 67,275 shares of the construction company’s stock worth $1,934,000 after purchasing an additional 511 shares during the last quarter. Finally, Aperio Group LLC lifted its stake in Tutor Perini Corporation by 7.1% during the second quarter. Aperio Group LLC now owns 10,722 shares of the construction company’s stock worth $308,000 after purchasing an additional 715 shares during the last quarter. Hedge funds and other institutional investors own 81.53% 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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