Tutor Perini (TPC) ended the recent trading session at $21.44, demonstrating a -1.7% swing from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.17%. On the other hand, the Dow registered a loss of 0.39%, and the technology-centric Nasdaq decreased by 0.05%.
Prior to today's trading, shares of the construction company had lost 14.9% over the past month. This has lagged the Construction sector's loss of 5.56% and the S&P 500's loss of 3.94% in that time.
Market participants will be closely following the financial results of Tutor Perini in its upcoming release. The company is forecasted to report an EPS of $0.06, showcasing an 80% downward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $1.08 billion, up 3.23% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.53 per share and a revenue of $4.8 billion, signifying shifts of +148.88% and +11.02%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Tutor Perini. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 has moved 10% lower. Tutor Perini is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, Tutor Perini is currently exchanging hands at a Forward P/E ratio of 14.26. Its industry sports an average Forward P/E of 14.43, so one might conclude that Tutor Perini is trading at a discount comparatively.
The Building Products - Heavy Construction industry is part of the Construction sector. Currently, this industry holds a Zacks Industry Rank of 85, positioning it in the top 35% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming 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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