In the latest trading session, Tutor Perini (TPC) closed at $75.17, marking a +1.73% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.26% for the day. Meanwhile, the Dow experienced a rise of 0.6%, and the technology-dominated Nasdaq saw an increase of 0.25%.
Prior to today's trading, shares of the construction company had gained 11.92% outpaced the Construction sector's gain of 3.26% and the S&P 500's gain of 1.57%.
Market participants will be closely following the financial results of Tutor Perini in its upcoming release. On that day, Tutor Perini is projected to report earnings of $0.92 per share, which would represent year-over-year growth of 160.93%. Meanwhile, the latest consensus estimate predicts the revenue to be $1.28 billion, indicating a 19.85% increase compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $4.01 per share and revenue of $5.32 billion. These totals would mark changes of +228.12% and 0%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Tutor Perini. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, Tutor Perini holds a Zacks Rank of #3 (Hold).
In terms of valuation, Tutor Perini is currently trading at a Forward P/E ratio of 15.65. This valuation marks a discount compared to its industry average Forward P/E of 23.75.
The Building Products - Heavy Construction industry is part of the Construction sector. This group has a Zacks Industry Rank of 106, putting it in the top 44% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming 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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