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As you might know, Tutor Perini Corporation (NYSE:TPC) just kicked off its latest quarterly results with some very strong numbers. It was a solid earnings report, with revenues and statutory earnings per share (EPS) both coming in strong. Revenues were 17% higher than the analysts had forecast, at US$1.2b, while EPS were US$0.53 beating analyst models by 490%. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there's been a strong change in the company's prospects, or if it's business as usual. Readers will be glad to know we've aggregated the latest statutory forecasts to see whether the analysts have changed their mind on Tutor Perini after the latest results.
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After the latest results, the four analysts covering Tutor Perini are now predicting revenues of US$5.12b in 2025. If met, this would reflect a decent 13% improvement in revenue compared to the last 12 months. Tutor Perini is also expected to turn profitable, with statutory earnings of US$1.81 per share. Before this earnings report, the analysts had been forecasting revenues of US$4.95b and earnings per share (EPS) of US$1.68 in 2025. It looks like there's been a modest increase in sentiment following the latest results, withthe analysts becoming a bit more optimistic in their predictions for both revenues and earnings.
See our latest analysis for Tutor Perini
It will come as no surprise to learn that the analysts have increased their price target for Tutor Perini 6.3% to US$42.00on the back of these upgrades. There's another way to think about price targets though, and that's to look at the range of price targets put forward by analysts, because a wide range of estimates could suggest a diverse view on possible outcomes for the business. There are some variant perceptions on Tutor Perini, with the most bullish analyst valuing it at US$45.00 and the most bearish at US$40.00 per share. The narrow spread of estimates could suggest that the business' future is relatively easy to value, or thatthe analysts have a strong view on its prospects.
Of course, another way to look at these forecasts is to place them into context against the industry itself. One thing stands out from these estimates, which is that Tutor Perini is forecast to grow faster in the future than it has in the past, with revenues expected to display 18% annualised growth until the end of 2025. If achieved, this would be a much better result than the 5.2% annual decline over the past five years. Compare this against analyst estimates for the broader industry, which suggest that (in aggregate) industry revenues are expected to grow 7.7% annually. So it looks like Tutor Perini is expected to grow faster than its competitors, at least for a while.