B. Riley Comments on Tutor Perini’s Q4 Earnings (NYSE:TPC)

Tutor Perini Co. (NYSE:TPC) – Investment analysts at B. Riley reduced their Q4 2024 EPS estimates for Tutor Perini in a research report issued to clients and investors on Thursday, November 7th. B. Riley analyst A. Rygiel now anticipates that the construction company will post earnings per share of $0.30 for the quarter, down from their prior forecast of $0.31. B. Riley has a “Buy” rating and a $40.00 price target on the stock. The consensus estimate for Tutor Perini’s current full-year earnings is ($1.00) per share.

Tutor Perini (NYSE:TPC) last posted its quarterly earnings data on Wednesday, November 6th. The construction company reported ($1.92) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.78) by ($0.14). Tutor Perini had a negative return on equity of 9.43% and a negative net margin of 3.08%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the firm posted ($0.71) earnings per share. The business’s revenue was up 2.1% on a year-over-year basis.

A number of other brokerages have also recently weighed in on TPC. StockNews.com raised Tutor Perini from a “hold” rating to a “buy” rating in a report on Thursday. UBS Group boosted their price objective on shares of Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd.

Tutor Perini Stock Performance

NYSE TPC opened at $33.24 on Friday. The stock’s 50-day simple moving average is $25.95 and its two-hundred day simple moving average is $22.64. Tutor Perini has a twelve month low of $6.86 and a twelve month high of $34.55. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.65 and a current ratio of 1.65.

Hedge Funds Weigh In On Tutor Perini

Hedge funds have recently made changes to their positions in the business. CWM LLC increased its stake in shares of Tutor Perini by 142.8% in the 2nd quarter. CWM LLC now owns 1,714 shares of the construction company’s stock worth $37,000 after acquiring an additional 1,008 shares in the last quarter. Plato Investment Management Ltd purchased a new stake in Tutor Perini in the third quarter worth about $52,000. Allspring Global Investments Holdings LLC bought a new position in shares of Tutor Perini during the second quarter valued at approximately $51,000. nVerses Capital LLC bought a new stake in shares of Tutor Perini in the 2nd quarter worth approximately $63,000. Finally, USA Financial Formulas grew its stake in shares of Tutor Perini by 19.6% in the 3rd quarter. USA Financial Formulas now owns 3,451 shares of the construction company’s stock worth $94,000 after buying an additional 566 shares during the last quarter. 65.01% of the stock is owned by hedge funds and other institutional investors.

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.