Tutor Perini (NYSE:TPC) Releases FY24 Earnings Guidance

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. StockNews.com upgraded shares of Tutor Perini from a hold rating to a buy rating in a research report on Friday, April 26th. UBS Group raised shares of Tutor Perini from a neutral rating to a buy rating and raised their price objective for the company from $14.00 to $27.00 in a research note on Friday, June 14th.

Tutor Perini Stock Performance

Shares of NYSE TPC traded down $6.36 during trading on Friday, hitting $17.36. 2,105,581 shares of the company were exchanged, compared to its average volume of 535,598. Tutor Perini has a 1 year low of $6.59 and a 1 year high of $26.88. The firm’s fifty day moving average price is $22.27 and its 200 day moving average price is $16.38. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.70 and a quick ratio of 1.70.

Insider Activity at Tutor Perini

In other news, EVP Ghassan Ariqat sold 11,855 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $19.62, for a total transaction of $232,595.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Tutor Perini news, EVP Ghassan Ariqat sold 11,855 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $19.62, for a total value of $232,595.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ronald N. Tutor sold 25,718 shares of the stock in a transaction that occurred 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 directly 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. In the last three months, insiders have sold 243,728 shares of company stock valued at $4,870,217. Insiders own 19.50% of the company’s stock.

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.