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Tutor Perini (TPC) Stock Drops Despite Market Gains: Important Facts to Note
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Tutor Perini (TPC - Free Report) closed at $86.77 in the latest trading session, marking a -1.02% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.05%. Elsewhere, the Dow saw an upswing of 0.46%, while the tech-heavy Nasdaq depreciated by 0.64%.
Shares of the construction company witnessed a gain of 7.48% over the previous month, beating the performance of the Construction sector with its loss of 4.31%, and the S&P 500's gain of 0.61%.
Market participants will be closely following the financial results of Tutor Perini in its upcoming release. The company's earnings per share (EPS) are projected to be $1.36, reflecting a 3.55% decrease from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.56 billion, indicating a 13.71% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.18 per share and a revenue of $6.24 billion, indicating changes of +20.75% and +12.65%, respectively, from the former year.
Any recent changes to analyst estimates for Tutor Perini should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Tutor Perini is holding a Zacks Rank of #3 (Hold) right now.
Looking at valuation, Tutor Perini is presently trading at a Forward P/E ratio of 16.92. Its industry sports an average Forward P/E of 26.19, so one might conclude that Tutor Perini is trading at a discount comparatively.
The Building Products - Heavy Construction industry is part of the Construction sector. With its current Zacks Industry Rank of 46, this industry ranks in the top 19% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
View the Zacks #1 Rank List
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Tutor Perini (TPC) Stock Drops Despite Market Gains: Important Facts to Note
Tutor Perini (TPC - Free Report) closed at $86.77 in the latest trading session, marking a -1.02% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.05%. Elsewhere, the Dow saw an upswing of 0.46%, while the tech-heavy Nasdaq depreciated by 0.64%.
Shares of the construction company witnessed a gain of 7.48% over the previous month, beating the performance of the Construction sector with its loss of 4.31%, and the S&P 500's gain of 0.61%.
Market participants will be closely following the financial results of Tutor Perini in its upcoming release. The company's earnings per share (EPS) are projected to be $1.36, reflecting a 3.55% decrease from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.56 billion, indicating a 13.71% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.18 per share and a revenue of $6.24 billion, indicating changes of +20.75% and +12.65%, respectively, from the former year.
Any recent changes to analyst estimates for Tutor Perini should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Tutor Perini is holding a Zacks Rank of #3 (Hold) right now.
Looking at valuation, Tutor Perini is presently trading at a Forward P/E ratio of 16.92. Its industry sports an average Forward P/E of 26.19, so one might conclude that Tutor Perini is trading at a discount comparatively.
The Building Products - Heavy Construction industry is part of the Construction sector. With its current Zacks Industry Rank of 46, this industry ranks in the top 19% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.