Tutor Perini (NYSE:TPC) Updates Q1 Earnings Guidance

Tutor Perini (NYSE:TPC) issued an update on its first quarter earnings guidance on Monday morning. The company provided EPS guidance of $0.27-0.32 for the period, compared to the consensus EPS estimate of ($0.17).

Tutor Perini Stock Performance

NYSE:TPC opened at $13.55 on Wednesday. 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 $12.08 and a 200-day simple moving average of $9.57.

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, President Gary G. Smalley sold 27,958 shares of Tutor Perini stock in a transaction dated Monday, March 18th. The stock was 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Tutor Perini news, President Gary G. Smalley sold 15,940 shares of Tutor Perini stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $13.28, for a total value of $211,683.20. Following the completion of the sale, the president now owns 68,346 shares in the company, valued at approximately $907,634.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Gary G. Smalley sold 27,958 shares of Tutor Perini 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 completion of the sale, the president now owns 112,245 shares of the company’s stock, valued at approximately $1,443,470.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,201 shares of company stock worth $822,980. 20.90% of the stock is owned by corporate insiders.

Institutional Trading of Tutor Perini

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TPC. The Manufacturers Life Insurance Company grew its holdings in shares of Tutor Perini by 7.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,054 shares of the construction company’s stock worth $136,000 after purchasing an additional 1,290 shares during the period. Royal Bank of Canada grew its holdings in shares of Tutor Perini by 2.8% during the 2nd quarter. Royal Bank of Canada now owns 47,655 shares of the construction company’s stock worth $341,000 after purchasing an additional 1,305 shares during the period. Hsbc Holdings PLC grew its holdings in shares of Tutor Perini by 11.3% during the 4th quarter. Hsbc Holdings PLC now owns 12,936 shares of the construction company’s stock worth $118,000 after purchasing an additional 1,314 shares during the period. Legal & General Group Plc grew its holdings in shares of Tutor Perini by 8.1% during the 4th quarter. Legal & General Group Plc now owns 17,674 shares of the construction company’s stock worth $133,000 after purchasing an additional 1,329 shares during the period. Finally, Prudential Financial Inc. grew its holdings in shares of Tutor Perini by 4.2% during the 2nd quarter. Prudential Financial Inc. now owns 34,593 shares of the construction company’s stock worth $304,000 after purchasing an additional 1,400 shares during the period. Hedge funds and other institutional investors own 65.01% of the company’s stock.

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.