Tutor Perini (NYSE:TPC – Get Free Report) issued its earnings results on Wednesday. The construction company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $1.03, FiscalAI reports. Tutor Perini had a net margin of 2.08% and a return on equity of 20.95%. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.63 billion.
Tutor Perini Trading Down 0.3%
Shares of TPC stock traded down $0.21 during trading hours on Wednesday, hitting $82.64. 1,691,129 shares of the company were exchanged, compared to its average volume of 594,780. The firm has a fifty day moving average of $84.11 and a 200 day moving average of $81.40. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.29. Tutor Perini has a 1 year low of $57.90 and a 1 year high of $102.30. The firm has a market cap of $4.35 billion, a PE ratio of 35.62 and a beta of 2.12.
Insider Activity at Tutor Perini
In other Tutor Perini news, Director Sidney J. Feltenstein sold 184,209 shares of Tutor Perini stock in a transaction on Friday, August 7th. The shares were sold at an average price of $97.05, for a total value of $17,877,483.45. Following the transaction, the director owned 6,700 shares in the company, valued at $650,235. This trade represents a 96.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Ronald N. Tutor sold 2,310,000 shares of the business’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $85.59, for a total transaction of $197,712,900.00. Following the sale, the chairman directly owned 701,477 shares of the company’s stock, valued at $60,039,416.43. This represents a 76.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 2,507,609 shares of company stock worth $216,823,719. 15.40% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on TPC shares. Wall Street Zen raised shares of Tutor Perini from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. UBS Group lifted their price target on shares of Tutor Perini from $98.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Weiss Ratings downgraded shares of Tutor Perini from a “buy (b-)” rating to a “hold (c)” rating in a research note on Friday, October 23rd. Finally, Zacks Research lowered shares of Tutor Perini from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Tutor Perini has a consensus rating of “Moderate Buy” and an average target price of $105.00.
About Tutor Perini
Tutor Perini Corporation (NYSE:TPC) is a construction company that provides general contracting, construction management, and design-build services. Its operations are organized around civil, building, and specialty contracting activities, serving public agencies, private developers, and other institutional customers.
The company’s civil construction work includes major infrastructure such as highways, bridges, tunnels, mass-transit systems, airports, water and wastewater facilities, and other transportation and utility projects.
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