MKM Partners Initiates Coverage on Tutor Perini Corp to Neutral

MKM Partners Initiates Coverage on Tutor Perini Corp(NYSE:TPC). The shares have been rated Neutral. The rating by MKM Partners was issued on Jun 29, 2016.

In a different note, On May 24, 2016, Standpoint Research said it Downgrades its rating on Tutor Perini Corp. The shares have been rated ‘Hold’ by the firm.

Tutor Perini Corp (TPC) made into the market gainers list on Fridays trading session with the shares advancing 2.34% or 0.55 points. Due to strong positive momentum, the stock ended at $24.1, which is also near the day’s high of $24.5. The stock began the session at $23.58 and the volume stood at 4,63,501 shares. The 52-week high of the shares is $24.5 and the 52 week low is $10.16. The company has a current market capitalization of $1,183 M and it has 4,90,72,710 shares in outstanding.

Tutor Perini Corp(TPC) last announced its earnings results on May 4, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $1.08B. Analysts had an estimated revenue of $1.14B. Earnings per share were $0.31. Analysts had estimated an EPS of $0.19.

Several Insider Transactions has been reported to the SEC. On Dec 18, 2015, James A Frost (President & COO) sold 10,000 shares at $16.68 per share price.Also, On Jun 17, 2015, N. Tutor Separate Prope Ronald (10% owner) purchased 10,080 shares at $23.66 per share price.On Jun 17, 2015, Ronald N Tutor (CEO) purchased 10,080 shares at $23.66 per share price, according to the Form-4 filing with the securities and exchange commission.

Tutor Perini Corporation is a construction company engaged in providing general contracting construction management and design-build services to private customers and public agencies. The Company operates through three segments: Civil Building and Specialty Contractors. The Civil segment focuses on public works construction and the repair replacement and reconstruction of infrastructure including highways bridges mass transit systems and water management and wastewater treatment facilities. Its Building segment provides services to various specialized building markets including the hospitality and gaming transportation healthcare municipal offices sports and entertainment educational and correctional facilities among others. Its Specialty Contractors segment provides electrical mechanical plumbing HVAC fire protection systems and pneumatically placed concrete for a range of civil and building construction projects.

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