Tutor Perini (TPC) closed at $81.50 in the latest trading session, marking a +1.19% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 0.62%. Meanwhile, the Dow gained 0.58%, and the Nasdaq, a tech-heavy index, added 0.83%.
The construction company's shares have seen an increase of 15.34% over the last month, surpassing the Construction sector's gain of 0.89% and the S&P 500's gain of 0.8%.
Market participants will be closely following the financial results of Tutor Perini in its upcoming release. The company's upcoming EPS is projected at $0.96, signifying a 81.13% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $1.41 billion, up 12.92% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $4.72 per share and revenue of $6.26 billion, which would represent changes of +10.02% and +12.98%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Tutor Perini. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, Tutor Perini possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Tutor Perini currently has a Forward P/E ratio of 17.06. This valuation marks a discount compared to its industry average Forward P/E of 27.68.
The Building Products - Heavy Construction industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 96, placing it within the top 40% of over 250 industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the 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 Report
This article originally published on Zacks Investment Research (zacks.com).