Tutor Perini (NYSE:TPC) Updates FY24 Earnings Guidance

Tutor Perini (NYSE:TPC) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $0.85-1.10 for the period, compared to the consensus EPS estimate of $1.10. Tutor Perini also updated its FY 2024 guidance to 0.850-1.100 EPS.

Tutor Perini Stock Down 26.8 %

Shares of TPC stock traded down $6.36 during trading hours on Friday, reaching $17.36. The company had a trading volume of 2,105,581 shares, compared to its average volume of 535,598. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.70 and a current ratio of 1.70. Tutor Perini has a 1-year low of $6.59 and a 1-year high of $26.88. The company has a 50 day moving average of $22.27 and a 200 day moving average of $16.38.

Analyst Ratings Changes

TPC has been the subject of several analyst reports. StockNews.com upgraded Tutor Perini from a hold rating to a buy rating in a research report on Friday, April 26th. UBS Group upgraded shares of Tutor Perini from a neutral rating to a buy rating and increased their target price for the stock from $14.00 to $27.00 in a report on Friday, June 14th.

Insider Transactions at Tutor Perini

In other news, CEO Ronald N. Tutor sold 25,718 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $20.66, for a total transaction of $531,333.88. Following the completion of the sale, the chief executive officer now owns 3,411,222 shares of the company’s stock, valued at $70,475,846.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Tutor Perini news, CEO Ronald N. Tutor sold 25,000 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $19.40, for a total transaction of $485,000.00. Following the sale, the chief executive officer now directly owns 2,387,267 shares of the company’s stock, valued at approximately $46,312,979.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ronald N. Tutor sold 25,718 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $20.66, for a total value of $531,333.88. Following the completion of the transaction, the chief executive officer now owns 3,411,222 shares of the company’s stock, valued at approximately $70,475,846.52. The disclosure for this sale can be found here. Insiders have sold a total of 243,728 shares of company stock valued at $4,870,217 over the last 90 days. 19.50% of the stock is owned by company insiders.

Tutor Perini Company Profile

Tutor Perini Corporation, a construction company, provides diversified general contracting, construction management, and design-build services to private customers and public agencies in the United States and internationally. It operates through three segments: Civil, Building, and Specialty Contractors.