Tutor Perini (TPC) Stock Sinks As Market Gains: What You Should Know
In the latest market close, Tutor Perini (TPC) reached $21.46, with a -0.23% movement compared to the previous day. The stock's change was less than the S&P 500's daily gain of 0.07%. Meanwhile, the Dow lost 0.13%, and the Nasdaq, a tech-heavy index, added 0.14%.
Prior to today's trading, shares of the construction company had gained 9.41% over the past month. This has outpaced the Construction sector's loss of 3.35% and the S&P 500's gain of 4.34% in that time.
The investment community will be paying close attention to the earnings performance of Tutor Perini in its upcoming release. The company's earnings per share (EPS) are projected to be $0.16, reflecting a 122.22% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $1.18 billion, up 15.35% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.10 per share and a revenue of $4.58 billion, indicating changes of +133.33% and +18.04%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Tutor Perini. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Tutor Perini presently features a Zacks Rank of #3 (Hold).
With respect to valuation, Tutor Perini is currently being traded at a Forward P/E ratio of 19.56. This expresses a premium compared to the average Forward P/E of 18.86 of its industry.
The Building Products - Heavy Construction industry is part of the Construction sector. This industry, currently bearing a Zacks Industry Rank of 57, finds itself in the top 23% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Tutor Perini Corporation (TPC) : Free Stock Analysis Report
