Tutor Perini (TPC) closed the most recent trading day at $61.61, moving -1.96% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 0.38%. Meanwhile, the Dow lost 0.2%, and the Nasdaq, a tech-heavy index, lost 0.67%.
Prior to today's trading, shares of the construction company had gained 1.63% outpaced the Construction sector's loss of 1.68% and lagged the S&P 500's gain of 4.06%.
The upcoming earnings release of Tutor Perini will be of great interest to investors. On that day, Tutor Perini is projected to report earnings of $0.96 per share, which would represent year-over-year growth of 150%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.34 billion, up 24.08% from the year-ago period.
TPC's full-year Zacks Consensus Estimates are calling for earnings of $3.78 per share and revenue of $5.24 billion. These results would represent year-over-year changes of +220.77% and +21.18%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Tutor Perini. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, Tutor Perini possesses a Zacks Rank of #3 (Hold).
With respect to valuation, Tutor Perini is currently being traded at a Forward P/E ratio of 16.62. This represents a discount compared to its industry average Forward P/E of 26.68.
The Building Products - Heavy Construction industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 32, placing it within the top 13% of over 250 industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Tutor Perini Corporation (TPC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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