The most recent trading session ended with Tutor Perini (TPC) standing at $25.67, reflecting a +1.3% shift from the previouse trading day's closing. This change outpaced the S&P 500's 0.16% gain on the day. Meanwhile, the Dow gained 0.01%, and the Nasdaq, a tech-heavy index, added 0.46%.
Heading into today, shares of the construction company had gained 17.81% over the past month, outpacing the Construction sector's gain of 0.13% and the S&P 500's loss of 3.59% in that time.
The upcoming earnings release of Tutor Perini will be of great interest to investors. On that day, Tutor Perini is projected to report earnings of $0.06 per share, which would represent a year-over-year decline of 80%. Meanwhile, the latest consensus estimate predicts the revenue to be $1.08 billion, indicating a 3.23% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $1.53 per share and a revenue of $4.8 billion, demonstrating changes of +148.88% and +11.02%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Tutor Perini. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. As of now, Tutor Perini holds a Zacks Rank of #5 (Strong Sell).
In the context of valuation, Tutor Perini is at present trading with a Forward P/E ratio of 16.56. This expresses a premium compared to the average Forward P/E of 16.07 of its industry.
The Building Products - Heavy Construction industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 192, placing it within the bottom 24% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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This article originally published on Zacks Investment Research (zacks.com).
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