Tutor Perini (NYSE:TPC) Releases Q1 2024 Earnings Guidance

Tutor Perini (NYSE:TPC) issued an update on its first quarter 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 0.270-0.320 for the period, compared to the consensus 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 Performance

Shares of NYSE:TPC traded down $0.10 during trading on Friday, reaching $13.28. 1,239,142 shares of the company’s stock traded hands, compared to its average volume of 343,852. Tutor Perini has a 12 month low of $4.90 and a 12 month high of $16.33. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.66 and a quick ratio of 1.66. The stock has a market capitalization of $694.28 million, a P/E ratio of -4.06 and a beta of 1.62. The company has a 50 day moving average of $12.27 and a 200-day moving average of $9.63.

Tutor Perini (NYSE:TPC) last posted its earnings results on Wednesday, February 28th. The construction company reported ($0.91) EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $951.50 million. On average, equities analysts expect that Tutor Perini will post 0.92 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, President Gary G. Smalley sold 27,958 shares of the company’s stock in a transaction on 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 directly owns 112,245 shares of the company’s stock, valued at approximately $1,443,470.70. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Tutor Perini news, President Gary G. Smalley sold 27,958 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $12.86, for a total value of $359,539.88. Following the completion of the sale, the president now directly owns 112,245 shares of the company’s stock, valued at approximately $1,443,470.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Gary G. Smalley sold 15,940 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $13.28, for a total transaction of $211,683.20. Following the completion of the sale, the president now directly owns 68,346 shares of the company’s stock, valued at $907,634.88. The disclosure for this sale can be found here. In the last three months, insiders sold 64,201 shares of company stock valued at $822,980. Company insiders own 21.30% of the company’s stock.

Institutional Trading of Tutor Perini

A number of hedge funds have recently bought and sold shares of the stock. Schonfeld Strategic Advisors LLC lifted its holdings in shares of Tutor Perini by 17.5% during the 2nd quarter. Schonfeld Strategic Advisors LLC now owns 12,100 shares of the construction company’s stock worth $87,000 after acquiring an additional 1,800 shares during the period. Hsbc Holdings PLC bought a new position in shares of Tutor Perini during the 3rd quarter worth about $91,000. Captrust Financial Advisors bought a new position in shares of Tutor Perini during the 2nd quarter worth about $94,000. Public Employees Retirement Association of Colorado lifted its holdings in shares of Tutor Perini by 42.6% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 10,465 shares of the construction company’s stock worth $95,000 after acquiring an additional 3,124 shares during the period. Finally, Two Sigma Securities LLC bought a new position in shares of Tutor Perini during the 1st quarter worth about $125,000. 65.01% of the stock is owned by institutional investors.

Tutor Perini Company Profile

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.