KeyCorp Analysts Cut Earnings Estimates for Tutor Perini Corporation (TPC)

Tutor Perini Corporation (NYSE:TPC) – Equities researchers at KeyCorp reduced their Q3 2017 earnings per share estimates for Tutor Perini Corporation in a note issued to investors on Monday. KeyCorp analyst S. Eastman now expects that the construction company will earn $0.68 per share for the quarter, down from their previous forecast of $0.71. KeyCorp also issued estimates for Tutor Perini Corporation’s Q4 2017 earnings at $0.60 EPS.

TPC has been the topic of several other research reports. BidaskClub upgraded Tutor Perini Corporation from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. Zacks Investment Research lowered Tutor Perini Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Finally, Canaccord Genuity reiterated a “buy” rating on shares of Tutor Perini Corporation in a report on Friday, June 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $31.29.

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Shares of Tutor Perini Corporation (NYSE TPC) opened at 28.00 on Thursday. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 14.94 and a beta of 2.42. Tutor Perini Corporation has a 12-month low of $18.05 and a 12-month high of $33.00. The firm has a 50-day moving average price of $27.87 and a 200-day moving average price of $28.93.

Tutor Perini Corporation (NYSE:TPC) last released its earnings results on Monday, August 7th. The construction company reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.02. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.42 billion. Tutor Perini Corporation had a return on equity of 6.60% and a net margin of 2.08%. The company’s revenue was down 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.43 EPS.

A number of hedge funds have recently added to or reduced their stakes in TPC. LSV Asset Management raised its stake in Tutor Perini Corporation by 2.5% in the first quarter. LSV Asset Management now owns 1,716,956 shares of the construction company’s stock valued at $54,599,000 after buying an additional 41,808 shares in the last quarter. Emerald Mutual Fund Advisers Trust raised its stake in Tutor Perini Corporation by 0.5% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 726,881 shares of the construction company’s stock valued at $23,115,000 after buying an additional 3,968 shares in the last quarter. Hillcrest Asset Management LLC raised its stake in Tutor Perini Corporation by 7.9% in the first quarter. Hillcrest Asset Management LLC now owns 391,632 shares of the construction company’s stock valued at $12,454,000 after buying an additional 28,800 shares in the last quarter. Hennessy Advisors Inc. acquired a new stake in Tutor Perini Corporation during the first quarter valued at about $4,172,000. Finally, KAMES CAPITAL plc acquired a new stake in Tutor Perini Corporation during the first quarter valued at about $737,000. Hedge funds and other institutional investors own 81.17% of the company’s stock.

Tutor Perini Corporation Company Profile

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.

Earnings History and Estimates for Tutor Perini Corporation (NYSE:TPC)

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