Tutor Perini (NYSE:TPC - Get Free Report) issued an update on its first quarter 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 0.270-0.320 for the period, compared to the consensus earnings per share 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.
Tutor Perini Stock Down 0.6 %
Tutor Perini stock traded down $0.08 during trading on Friday, reaching $13.30. 1,239,142 shares of the company's stock were exchanged, compared to its average volume of 343,852. The company's 50-day moving average is $12.35 and its two-hundred day moving average is $9.67. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.66 and a current ratio of 1.66. Tutor Perini has a 52-week low of $4.90 and a 52-week high of $16.33. The firm has a market cap of $695.38 million, a price-to-earnings ratio of -4.04 and a beta of 1.62.
Tutor Perini (NYSE:TPC - Get Free Report) last issued its quarterly earnings data on Wednesday, February 28th. The construction company reported ($0.91) EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $951.50 million. On average, analysts predict that Tutor Perini will post 0.92 earnings per share for the current year.
Analyst Ratings Changes
Separately, StockNews.com lowered shares of Tutor Perini from a buy rating to a hold rating in a report on Saturday, March 30th.
Check Out Our Latest Stock Report on Tutor Perini
Insiders Place Their Bets
In other news, President Gary G. Smalley sold 27,958 shares of the company's stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $12.86, for a total value of $359,539.88. Following the sale, the president now owns 112,245 shares in the company, valued at approximately $1,443,470.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, President Gary G. Smalley sold 15,940 shares of the company's stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $13.28, for a total value of $211,683.20. Following the sale, the president now owns 68,346 shares in the company, valued at approximately $907,634.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Gary G. Smalley sold 27,958 shares of the company's stock in a transaction dated 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 sale, the president now owns 112,245 shares in the company, valued at approximately $1,443,470.70. The disclosure for this sale can be found here. Insiders have sold 64,201 shares of company stock worth $822,980 in the last quarter. 21.30% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Tutor Perini
A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its stake in Tutor Perini by 6.5% during the second quarter. BlackRock Inc. now owns 5,508,141 shares of the construction company's stock worth $39,383,000 after acquiring an additional 335,690 shares during the period. Dimensional Fund Advisors LP raised its stake in Tutor Perini by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,658,964 shares of the construction company's stock worth $28,716,000 after acquiring an additional 69,285 shares during the period. Vanguard Group Inc. raised its stake in Tutor Perini by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 2,308,023 shares of the construction company's stock worth $21,003,000 after acquiring an additional 60,076 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Tutor Perini by 8.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,773,000 shares of the construction company's stock worth $10,939,000 after acquiring an additional 136,700 shares during the period. Finally, AQR Capital Management LLC raised its stake in Tutor Perini by 18.6% during the first quarter. AQR Capital Management LLC now owns 1,274,943 shares of the construction company's stock worth $7,866,000 after acquiring an additional 199,881 shares during the period. Institutional investors and hedge funds own 65.01% of the company's stock.
About Tutor Perini
(
Get Free Report)
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.
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