Tutor Perini Corporation
) hit a new 52-week high of $29.80 during intraday trading before
closing lower at $29.38 on March 17. The leading civil and
building construction company has delivered a robust 1-year
return of about 61.9%, outperforming the S&P 500 return of
Over the past 52 weeks, Tutor Perini's share price has ranged
from a 52-week low of $15.47 on Apr 22, 2013, to a 52-week high
of $29.80 on Mar 17, 2014. Average volume of shares traded over
the last 3 months is approximately 254K. Tutor Perini has a
market cap of $1.42 billion and long-term estimated earnings per
share growth rate of 15%.
What's Driving Tutor Perini Upward?
Shares of Tutor Perini started escalating following its strong
fourth-quarter results on Feb 24. Adjusted earnings per share
were 68 cents in the fourth quarter, a 3% year-over-year
increase. Fiscal 2013 earnings per share improved 23% to $1.80.
Total backlog as of 2013 end, was $7 billion, up 25% year over
year. In the quarter, additions to backlog worth mentioning were
a $510 million platform project at Hudson Yards in New York City,
the company's approximately $200 million share of the St. Croix
Crossing bridge project connecting Oak Park Heights, MN and St.
Joseph, WI, a $61 million mixed-use building development project
in New Orleans, LA, and a $41 million landfill closure and sewer
improvement project in Guam.
Tutor Perini expects earnings per share to lie between $2.20 and
$2.40 in 2014. Revenues are expected in the range of $4.5-$5
The company continues to win contracts and has prospects of
winning future awards given the significant volume of pending
awards in the market. Building segments and margins are also
expected to grow over the next year, driven primarily by the
additional phases of the Hudson Yards projects.
Other Stocks to Consider
Tutor Perini currently carries a short-term Zacks Rank #4 (Sell).
Better-ranked stocks in the sector include
Gibraltar Industries, Inc.
). While Gibraltar Industries holds a Zacks Rank #1 (Strong Buy),
MasTec and USG Corporation hold a Zacks Rank #2 (Buy).
MASTEC INC (MTZ): Free Stock Analysis Report
GIBRALTAR INDUS (ROCK): Free Stock Analysis
TUTOR PERINI CP (TPC): Free Stock Analysis
USG CORP (USG): Free Stock Analysis Report
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