Tutor Perini (NYSE:TPC) Issues Q1 2024 Earnings Guidance

Tutor Perini (NYSE:TPC) updated its first quarter 2024 earnings guidance on Friday. The company provided EPS guidance of 0.270-0.320 for the period, compared to the consensus EPS estimate of -0.170. The company issued revenue guidance of $1.0 billion-$1.1 billion, compared to the consensus revenue estimate of $874.6 million.

Analyst Ratings Changes

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

Tutor Perini Stock Performance

Shares of TPC stock opened at $13.30 on Friday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.61. Tutor Perini has a 52 week low of $4.90 and a 52 week high of $16.33. The firm’s 50-day simple moving average is $12.35 and its two-hundred day simple moving average is $9.67.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings data on Wednesday, February 28th. The construction company reported ($0.91) 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 company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $951.50 million. On average, equities research analysts forecast that Tutor Perini will post 0.92 earnings per share for the current year.

Insider Activity at Tutor Perini

In related news, President Gary G. Smalley sold 27,958 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $12.86, for a total transaction of $359,539.88. Following the completion of the transaction, the president now owns 112,245 shares of the company’s stock, valued at $1,443,470.70. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, President Gary G. Smalley sold 27,958 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $12.86, for a total value of $359,539.88. Following the completion of the sale, the president now owns 112,245 shares of the company’s stock, valued at approximately $1,443,470.70. The sale 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 the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $12.40, for a total transaction of $251,757.20. Following the completion of the sale, the president now directly owns 160,507 shares of the company’s stock, valued at approximately $1,990,286.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,201 shares of company stock valued at $822,980. Corporate insiders own 21.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Schonfeld Strategic Advisors LLC grew its position in shares of Tutor Perini by 17.5% in the 2nd quarter. Schonfeld Strategic Advisors LLC now owns 12,100 shares of the construction company’s stock worth $87,000 after buying an additional 1,800 shares during the period. Hsbc Holdings PLC purchased a new stake in shares of Tutor Perini in the 3rd quarter worth about $91,000. Captrust Financial Advisors purchased a new stake in shares of Tutor Perini in the 2nd quarter worth about $94,000. Public Employees Retirement Association of Colorado grew its position in shares of Tutor Perini by 42.6% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 10,465 shares of the construction company’s stock worth $95,000 after buying an additional 3,124 shares during the period. Finally, Two Sigma Securities LLC purchased a new stake in shares of Tutor Perini in the 1st quarter worth about $125,000. 65.01% of the stock is currently owned by institutional investors.

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.