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.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Tutor Perini from a buy rating to a hold rating in a research note on Saturday, March 30th.

Tutor Perini Stock Performance

NYSE:TPC opened at $13.28 on Monday. 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 stock has a fifty day simple moving average of $12.35 and a 200-day simple moving average of $9.69.

Tutor Perini (NYSE:TPC) last announced its earnings results on Wednesday, February 28th. The construction company reported ($0.91) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.98). Tutor Perini had a negative net margin of 4.41% and a negative return on equity of 12.73%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $951.50 million. Equities research analysts predict that Tutor Perini will post 0.92 earnings per share for the current year.

Insider Transactions at Tutor Perini

In other news, President Gary G. Smalley sold 20,303 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was 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 owns 160,507 shares in the company, valued at approximately $1,990,286.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, President Gary G. Smalley sold 20,303 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was 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 owns 160,507 shares in the company, valued at approximately $1,990,286.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Gary G. Smalley sold 15,940 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $13.28, for a total value of $211,683.20. Following the transaction, the president now directly owns 68,346 shares in the company, valued at $907,634.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,201 shares of company stock worth $822,980. 19.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tutor Perini

Several hedge funds and other institutional investors have recently bought and sold shares of TPC. Public Employees Retirement Association of Colorado raised 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 valued at $95,000 after purchasing an additional 3,124 shares in the last quarter. Hsbc Holdings PLC acquired a new position in shares of Tutor Perini in the 3rd quarter valued at approximately $91,000. Schonfeld Strategic Advisors LLC raised 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 valued at $87,000 after purchasing an additional 1,800 shares in the last quarter. Captrust Financial Advisors acquired a new stake in shares of Tutor Perini during the 2nd quarter valued at approximately $94,000. Finally, Raymond James & Associates acquired a new stake in shares of Tutor Perini during the 1st quarter valued at approximately $142,000. 65.01% of the stock is owned by institutional investors and hedge funds.

About Tutor Perini

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.