Trading Report: The Tutor Perini Corp (TPC) Given a $28.00 Price Target by MKM Partners Analysts

The Tutor Perini Corp (TPC) Given a $28.00 Price Target by MKM Partners Analysts

MKM Partners set a $28.00 target price on Tutor Perini Corp (NYSE:TPC) in a report released on Friday morning. The firm currently has a a buy rating on the stock.

Other analysts have also issued reports about the company. Canaccord Genuity restated a buy rating and issued a $30.00 target price on shares of Tutor Perini Corp in a research note on Thursday, August 4th. Standpoint Research upgraded Tutor Perini Corp from a hold rating to a buy rating in a research note on Monday, October 3rd. Zacks Investment Research upgraded Tutor Perini Corp from a sell rating to a hold rating in a research note on Thursday, October 6th. TheStreet lowered Tutor Perini Corp from a buy rating to a hold rating in a research note on Wednesday, August 3rd. Finally, FBR & Co restated an outperform rating and issued a $26.00 target price (up from $22.00) on shares of Tutor Perini Corp in a research note on Thursday, June 30th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Tutor Perini Corp has an average rating of Buy and a consensus target price of $24.29.

Tutor Perini Corp (NYSE:TPC) opened at 20.93 on Friday. The company has a market cap of $1.03 billion, a PE ratio of 15.98 and a beta of 2.48. Tutor Perini Corp has a 52-week low of $10.16 and a 52-week high of $25.98. The firm’s 50-day moving average price is $21.90 and its 200 day moving average price is $21.23.

Tutor Perini Corp (NYSE:TPC) last issued its earnings results on Tuesday, August 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.08. The firm earned $1.31 billion during the quarter, compared to the consensus estimate of $1.40 billion. Tutor Perini Corp had a net margin of 1.32% and a return on equity of 5.49%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 earnings per share. On average, equities analysts predict that Tutor Perini Corp will post $2.04 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. raised its stake in Tutor Perini Corp by 4,055.5% in the second quarter. Alliancebernstein L.P. now owns 2,118,507 shares of the company’s stock worth $49,891,000 after buying an additional 2,067,526 shares during the last quarter. Foundry Partners LLC bought a new stake in Tutor Perini Corp during the second quarter worth about $11,588,000. Fiera Capital Corp bought a new stake in Tutor Perini Corp during the second quarter worth about $10,627,000. Emerald Acquisition Ltd. bought a new stake in Tutor Perini Corp during the second quarter worth about $8,963,000. Finally, Artemis Investment Management LLP bought a new stake in Tutor Perini Corp during the second quarter worth about $8,597,000. Institutional investors own 82.48% of the company’s stock.

About Tutor Perini Corp

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