Tutor Perini (TPC) closed at $26.36 in the latest trading session, marking a -0.3% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.71%. At the same time, the Dow added 1.03%, and the tech-heavy Nasdaq gained 0.6%.
Prior to today's trading, shares of the construction company had gained 19.69% over the past month. This has outpaced the Construction sector's gain of 8.51% and the S&P 500's gain of 6.41% 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 $0.33 per share, which would represent year-over-year growth of 146.48%. Meanwhile, the latest consensus estimate predicts the revenue to be $1.13 billion, indicating a 6.97% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.95 per share and a revenue of $4.5 billion, indicating changes of +128.79% and +16.06%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Tutor Perini. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Tutor Perini is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Tutor Perini's current valuation metrics, including its Forward P/E ratio of 27.83. This denotes a premium relative to the industry's average Forward P/E of 22.04.
The Building Products - Heavy Construction industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 159, placing it within the bottom 37% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>Tutor Perini Corporation (TPC) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
