Tutor Perini (TPC) closed at $44.08 in the latest trading session, marking a -1.01% move from the prior day. At the same time, the Dow lost 0.25%, and the tech-heavy Nasdaq gained 0.31%.
Coming into today, shares of the construction company had gained 20.68% in the past month. In that same time, the Construction sector gained 3.5%, while the S&P 500 gained 5.05%.
The investment community will be closely monitoring the performance of Tutor Perini in its forthcoming earnings report. The company is forecasted to report an EPS of $0.29, showcasing a 52.63% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.23 billion, indicating a 9.22% increase compared to the same quarter of the previous year.
TPC's full-year Zacks Consensus Estimates are calling for earnings of $1.75 per share and revenue of $5.13 billion. These results would represent year-over-year changes of +155.91% and +18.65%, respectively.
It is also important to note the recent changes to analyst estimates for Tutor Perini. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. At present, Tutor Perini boasts a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Tutor Perini currently has a Forward P/E ratio of 25.52. This expresses a premium compared to the average Forward P/E of 21.23 of its industry.
The Building Products - Heavy Construction industry is part of the Construction sector. With its current Zacks Industry Rank of 3, this industry ranks in the top 2% of all industries, numbering over 250.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming 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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