Tutor Perini (TPC) closed at $48.18 in the latest trading session, marking a +1.52% move from the prior day. The stock's change was more than the S&P 500's daily gain of 0.83%. Meanwhile, the Dow gained 0.77%, and the Nasdaq, a tech-heavy index, added 1.02%.
Prior to today's trading, shares of the construction company had gained 22.92% outpaced the Construction sector's gain of 7.94% and the S&P 500's gain of 4.99%.
The upcoming earnings release of Tutor Perini will be of great interest to investors. 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. Simultaneously, our latest consensus estimate expects the revenue to be $1.23 billion, showing a 9.22% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.75 per share and a revenue of $5.13 billion, indicating changes of +155.91% and +18.65%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Tutor Perini. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 remained unchanged. Right now, Tutor Perini possesses a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Tutor Perini is holding a Forward P/E ratio of 27.2. This denotes a premium relative to the industry average Forward P/E of 22.97.
The Building Products - Heavy Construction industry is part of the Construction sector. This industry, currently bearing a Zacks Industry Rank of 2, finds itself in the top 1% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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