Tutor Perini Corp (TPC) to Post Q1 2018 Earnings of $0.31 Per Share, KeyCorp Forecasts
Tutor Perini Corp (NYSE:TPC) – Research analysts at KeyCorp issued their Q1 2018 EPS estimates for shares of Tutor Perini in a research note issued on Tuesday. KeyCorp analyst S. Eastman expects that the construction company will post earnings per share of $0.31 for the quarter. KeyCorp currently has a “Overweight” rating and a $28.00 target price on the stock. KeyCorp also issued estimates for Tutor Perini’s Q2 2018 earnings at $0.58 EPS, Q3 2018 earnings at $0.62 EPS, Q4 2018 earnings at $0.58 EPS and FY2019 earnings at $2.51 EPS.
A number of other research firms also recently issued reports on TPC. DA Davidson reiterated a “buy” rating on shares of Tutor Perini in a report on Wednesday. ValuEngine upgraded Tutor Perini from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Canaccord Genuity decreased their price objective on Tutor Perini from $35.00 to $32.00 and set a “buy” rating for the company in a report on Friday, November 10th. Zacks Investment Research upgraded Tutor Perini from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Wednesday, February 14th. Finally, B. Riley decreased their price objective on Tutor Perini from $40.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $30.43.
In other news, Director Dale Ann Reiss sold 4,829 shares of the stock in a transaction on Monday, December 18th. The stock was sold at an average price of $27.28, for a total value of $131,735.12. Following the sale, the director now directly owns 20,625 shares of the company’s stock, valued at $562,650. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of the stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $25.60, for a total value of $640,000.00. Following the completion of the sale, the insider now directly owns 5,798,120 shares in the company, valued at $148,431,872. The disclosure for this sale can be found here. Corporate insiders own 24.50% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. James Investment Research Inc. purchased a new stake in shares of Tutor Perini in the fourth quarter worth $1,600,000. SeaCrest Wealth Management LLC purchased a new stake in shares of Tutor Perini in the fourth quarter worth $101,000. State Street Corp grew its stake in shares of Tutor Perini by 4.7% in the second quarter. State Street Corp now owns 750,365 shares of the construction company’s stock worth $21,576,000 after acquiring an additional 33,774 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Tutor Perini by 1.5% in the third quarter. Principal Financial Group Inc. now owns 390,557 shares of the construction company’s stock worth $11,091,000 after acquiring an additional 5,918 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Tutor Perini by 1.4% in the third quarter. JPMorgan Chase & Co. now owns 295,249 shares of the construction company’s stock worth $8,444,000 after acquiring an additional 4,077 shares during the last quarter. 83.74% of the stock is currently owned by hedge funds and other institutional investors.
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About Tutor Perini
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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