Tutor Perini (NYSE:TPC) Issues FY24 Earnings Guidance

Tutor Perini (NYSE:TPC) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.85-1.10 for the period, compared to the consensus estimate of $1.10.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TPC shares. UBS Group raised Tutor Perini from a neutral rating to a buy rating and lifted their target price for the company from $14.00 to $27.00 in a research note on Friday, June 14th. StockNews.com raised shares of Tutor Perini from a hold rating to a buy rating in a research note on Friday, April 26th.

Tutor Perini Stock Performance

Shares of TPC stock traded down $1.17 during mid-day trading on Thursday, reaching $23.72. The stock had a trading volume of 626,557 shares, compared to its average volume of 450,831. Tutor Perini has a 1-year low of $6.59 and a 1-year high of $26.88. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -12.20 and a beta of 1.55. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.60. The business’s fifty day moving average is $22.29 and its 200-day moving average is $16.21.

Insider Transactions at Tutor Perini

In related news, CEO Ronald N. Tutor sold 25,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $19.40, for a total transaction of $485,000.00. Following the completion of the transaction, the chief executive officer now owns 2,387,267 shares in the company, valued at approximately $46,312,979.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Tutor Perini news, EVP Ghassan Ariqat sold 11,855 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $19.62, for a total value of $232,595.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ronald N. Tutor sold 25,000 shares of Tutor Perini stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $19.40, for a total transaction of $485,000.00. Following the sale, the chief executive officer now directly owns 2,387,267 shares in the company, valued at approximately $46,312,979.80. The disclosure for this sale can be found here. Insiders have sold a total of 243,728 shares of company stock valued at $4,870,217 in the last ninety days. 19.50% of the stock is currently owned by corporate insiders.

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.