Tutor Perini (NYSE:TPC) Updates Q1 Earnings Guidance

Tutor Perini (NYSE:TPC) updated its first quarter earnings guidance on Monday. The company provided EPS guidance of $0.27-0.32 for the period, compared to the consensus EPS estimate of ($0.17).

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Tutor Perini from a buy rating to a hold rating in a report on Saturday, March 30th.

Tutor Perini Stock Down 0.9 %

Shares of TPC stock opened at $13.43 on Thursday. The company’s 50 day moving average is $12.17 and its 200 day moving average is $9.60. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.66 and a quick ratio of 1.66. Tutor Perini has a 52-week low of $4.90 and a 52-week high of $16.33.

Tutor Perini (NYSE:TPC) last released its quarterly earnings results on Wednesday, February 28th. The construction company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.98). Tutor Perini had a negative return on equity of 12.73% and a negative net margin of 4.41%. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $951.50 million. As a group, analysts predict that Tutor Perini will post 0.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tutor Perini news, President Gary G. Smalley sold 15,940 shares of Tutor Perini stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $13.28, for a total value of $211,683.20. Following the transaction, the president now directly owns 68,346 shares of the company’s stock, valued at $907,634.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Tutor Perini news, President Gary G. Smalley sold 15,940 shares of Tutor Perini stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $13.28, for a total value of $211,683.20. Following the transaction, the president now directly owns 68,346 shares of the company’s stock, valued at $907,634.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Gary G. Smalley sold 20,303 shares of Tutor Perini stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $12.40, for a total transaction of $251,757.20. Following the sale, the president now owns 160,507 shares of the company’s stock, valued at $1,990,286.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,201 shares of company stock valued at $822,980. 21.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tutor Perini

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in shares of Tutor Perini by 6.5% during the second quarter. BlackRock Inc. now owns 5,508,141 shares of the construction company’s stock worth $39,383,000 after buying an additional 335,690 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Tutor Perini by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,658,964 shares of the construction company’s stock worth $28,716,000 after buying an additional 69,285 shares during the period. Vanguard Group Inc. lifted its stake in shares of Tutor Perini by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 2,308,023 shares of the construction company’s stock worth $21,003,000 after buying an additional 60,076 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Tutor Perini by 8.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,773,000 shares of the construction company’s stock valued at $10,939,000 after purchasing an additional 136,700 shares during the period. Finally, AQR Capital Management LLC lifted its position in Tutor Perini by 18.6% during the first quarter. AQR Capital Management LLC now owns 1,274,943 shares of the construction company’s stock valued at $7,866,000 after purchasing an additional 199,881 shares during the period. 65.01% of the stock is currently 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.