In the latest close session, Tutor Perini (TPC) was down 1.4% at $77.55. This change lagged the S&P 500's 1.09% loss on the day. Elsewhere, the Dow saw a downswing of 0.34%, while the tech-heavy Nasdaq depreciated by 2.15%.
Shares of the construction company witnessed a loss of 8.19% over the previous month, trailing the performance of the Construction sector with its loss of 2.45%, and the S&P 500's gain of 2.44%.
Investors will be eagerly watching for the performance of Tutor Perini in its upcoming earnings disclosure. The company is predicted to post an EPS of $1.34, indicating a 16.52% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.62 billion, indicating a 14.31% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.39 per share and a revenue of $6.28 billion, indicating changes of +25.64% and +13.35%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Tutor Perini. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Tutor Perini presently features a Zacks Rank of #3 (Hold).
Looking at valuation, Tutor Perini is presently trading at a Forward P/E ratio of 14.59. This represents a discount compared to its industry average Forward P/E of 15.17.
The Building Products - Heavy Construction industry is part of the Construction sector. With its current Zacks Industry Rank of 165, this industry ranks in the bottom 33% 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.
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).