Tutor Perini Co. (NYSE:TPC) Expected to Earn $0.43 Per Share in Q2 2022
Tutor Perini Co. (New York Stock Exchange: TPC – Get a rating) – B. Riley raised its second-quarter 2022 EPS estimates for Tutor Perini in a report released Thursday, May 5. B. Riley analyst A. Rygiel now expects the construction company to post earnings per share of $0.43 for the quarter, up from its previous estimate of 0.34. $. B. Riley also released estimates for Tutor Perini Q3 2022 earnings at $0.56 EPS and Q4 2022 earnings at $0.59 EPS.
Tutor Perini (New York Stock Exchange: TPC – Get a rating) last released its quarterly earnings data on Wednesday, May 4. The construction company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 per ($0.51). The company posted revenue of $952.15 million for the quarter, versus analyst estimates of $1.09 billion. Tutor Perini achieved a return on equity of 3.31% and a net margin of 1.24%. The company’s revenue decreased by 21.2% compared to the same quarter last year. In the same period a year earlier, the company posted earnings per share of $0.31.
Several other research analysts have also recently published reports on the company. StockNews.com supposed coverage by Tutor Perini in a research report on Thursday, March 31. They set a “holding” rating for the company. Zacks Investment Research upgraded tutor Perini from a “sell” rating to a “hold” rating in a Tuesday, May 3, research report.
New York Stock Exchange: TPC opened at $9.75 on Monday. The company’s 50-day simple moving average is $10.03. The company has a market capitalization of $498.33 million, a PE ratio of 9.20 and a beta of 1.32. The Perini Tutor has a 1 year minimum of $9.06 and a 1 year maximum of $17.25. The company has a current ratio of 2.12, a quick ratio of 2.17 and a debt ratio of 0.60.
Several hedge funds and other institutional investors have recently changed their positions in TPC. Levin Capital Strategies LP increased its position in Tutor Perini shares by 811.9% in the fourth quarter. Levin Capital Strategies LP now owns 861,761 shares of the construction company valued at $10,660,000 after purchasing an additional 767,261 shares during the period. BlackRock Inc. increased its stake in Tutor Perini by 13.2% during the third quarter. BlackRock Inc. now owns 4,170,553 shares of the construction company valued at $54,135,000 after acquiring 485,118 additional shares in the last quarter. Moors & Cabot Inc. acquired a new stake in Tutor Perini during Q3 valued at approximately $482,000. Norges Bank acquired a new stake in Tutor Perini during Q4, valued at approximately $4,254,000. Finally, Alan B. Lancz & Associates Inc. acquired a new stake in Tutor Perini during the 4th quarter valued at approximately $4,225,000. 69.11% of the shares are held by hedge funds and other institutional investors.
Company Profile Tutor Perini (Get a rating)
Tutor Perini Corporation, a construction company, provides diversified general contracting, construction management and design-build services to private clients and public bodies worldwide. It operates through three segments: Civil, Construction and Specialty Contractors. The Civil segment is engaged in the construction of public works and the replacement and reconstruction of infrastructure, the construction and rehabilitation of highways, bridges, tunnels, mass transit systems, facilities military defense and water management and wastewater treatment facilities.
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