$1.17 Billion in Sales Expected for Tutor Perini Corp (TPC) This Quarter
Wall Street brokerages expect Tutor Perini Corp (NYSE:TPC) to report $1.17 billion in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Tutor Perini’s earnings. The lowest sales estimate is $1.13 billion and the highest is $1.23 billion. Tutor Perini posted sales of $1.12 billion in the same quarter last year, which suggests a positive year over year growth rate of 4.5%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, August 6th.
On average, analysts expect that Tutor Perini will report full year sales of $4.90 billion for the current financial year, with estimates ranging from $4.84 billion to $4.94 billion. For the next year, analysts forecast that the firm will post sales of $5.44 billion, with estimates ranging from $5.16 billion to $5.63 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Tutor Perini.
Tutor Perini (NYSE:TPC) last released its earnings results on Wednesday, May 8th. The construction company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.06). The company had revenue of $958.49 million during the quarter, compared to analysts’ expectations of $1.01 billion. Tutor Perini had a net margin of 2.17% and a return on equity of 5.42%.
In other news, major shareholder N. Tutor Separate Prope Ronald sold 20,000 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $16.51, for a total transaction of $330,200.00. Following the transaction, the insider now directly owns 5,594,050 shares of the company’s stock, valued at $92,357,765.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ronald N. Tutor sold 50,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $16.55, for a total transaction of $827,500.00. The disclosure for this sale can be found here. Insiders own 24.30% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. NumerixS Investment Technologies Inc acquired a new position in shares of Tutor Perini during the fourth quarter worth $32,000. Great West Life Assurance Co. Can lifted its position in shares of Tutor Perini by 83.9% during the first quarter. Great West Life Assurance Co. Can now owns 7,002 shares of the construction company’s stock worth $120,000 after purchasing an additional 3,195 shares in the last quarter. Covington Capital Management lifted its position in shares of Tutor Perini by 90.2% during the fourth quarter. Covington Capital Management now owns 8,435 shares of the construction company’s stock worth $135,000 after purchasing an additional 4,000 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of Tutor Perini by 142.9% during the first quarter. BNP Paribas Arbitrage SA now owns 8,716 shares of the construction company’s stock worth $149,000 after purchasing an additional 5,127 shares in the last quarter. Finally, Bayesian Capital Management LP acquired a new position in shares of Tutor Perini during the first quarter worth $180,000. 89.92% of the stock is currently owned by institutional investors and hedge funds.
TPC stock traded down $0.18 during midday trading on Tuesday, reaching $14.54. 406,330 shares of the company’s stock traded hands, compared to its average volume of 341,329. The stock has a market cap of $738.65 million, a price-to-earnings ratio of 7.61, a price-to-earnings-growth ratio of 0.70 and a beta of 1.92. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.49. Tutor Perini has a fifty-two week low of $14.19 and a fifty-two week high of $22.02.
About Tutor Perini
Tutor Perini Corporation, a construction company, provides diversified general contracting, construction management, and design-build services to private customers and public agencies worldwide. The company operates through three segments: Civil, Building, and Specialty Contractors. The Civil segment engages in the public works construction, replacement, and reconstruction of infrastructure, including highways, bridges, tunnels, mass-transit systems, and water management and wastewater treatment facilities.
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