Tutor Perini (NYSE:TPC) Given New $8.00 Price Target at B. Riley

Tutor Perini (NYSE:TPC – Get Rating) had its price target dropped by analysts at B. Riley from $10.00 to $8.00 in a report released on Friday, The Fly reports. B. Riley’s price target would indicate a potential upside of 30.51% from the stock’s previous close. B. Riley also issued estimates for Tutor Perini’s Q1 2023 earnings at $0.04 EPS, Q2 2023 earnings at $0.10 EPS, Q3 2023 earnings at $0.15 EPS, Q4 2023 earnings at $0.15 EPS and FY2024 earnings at $1.23 EPS.

Separately, StockNews.com assumed coverage on Tutor Perini in a report on Thursday. They set a “hold” rating for the company.

Tutor Perini Stock Down 0.5 %

TPC opened at $6.13 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.91 and a quick ratio of 1.91. The business has a 50 day simple moving average of $8.49 and a 200-day simple moving average of $7.51. The stock has a market capitalization of $315.82 million, a P/E ratio of -1.50 and a beta of 1.50. Tutor Perini has a 12 month low of $5.40 and a 12 month high of $10.94.

Tutor Perini (NYSE:TPC – Get Rating) last issued its quarterly earnings data on Wednesday, March 15th. The construction company reported ($1.80) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($1.82). The firm had revenue of $906.65 million for the quarter, compared to analyst estimates of $976.17 million. Tutor Perini had a negative return on equity of 13.31% and a negative net margin of 5.54%. The business’s revenue for the quarter was down 12.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.57 earnings per share. On average, equities analysts anticipate that Tutor Perini will post 0.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tutor Perini

A number of institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc raised its holdings in shares of Tutor Perini by 8.1% in the fourth quarter. Legal & General Group Plc now owns 17,674 shares of the construction company’s stock worth $133,000 after acquiring an additional 1,329 shares during the last quarter. Prudential Financial Inc. raised its holdings in shares of Tutor Perini by 4.2% in the second quarter. Prudential Financial Inc. now owns 34,593 shares of the construction company’s stock worth $304,000 after acquiring an additional 1,400 shares during the last quarter. Barclays PLC raised its holdings in shares of Tutor Perini by 13.4% in the third quarter. Barclays PLC now owns 15,119 shares of the construction company’s stock worth $84,000 after acquiring an additional 1,783 shares during the last quarter. IFP Advisors Inc acquired a new position in shares of Tutor Perini in the third quarter worth $40,000. Finally, Northern Trust Corp grew its position in shares of Tutor Perini by 0.5% in the second quarter. Northern Trust Corp now owns 397,652 shares of the construction company’s stock valued at $3,491,000 after purchasing an additional 2,019 shares during the period. 65.86% of the stock is owned by institutional investors and hedge funds.

Tutor Perini Company Profile

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Tutor Perini Corp. engages in the provision of construction services. It operates through the following business segments: Civil, Building, and Specialty Contractors. The Civil segment specializes in public works construction and the replacement and reconstruction of infrastructure across the major geographic regions of the United States.