Staggering Stock: Tutor Perini Corporation (NYSE: TPC)

On 13 Jan 2020, Tutor Perini Corporation (NYSE: TPC) changed 1.15% to recent value of $12.28. The stock transacted 301429 shares during most recent day however it has an average volume of 540.36K shares. It spotted trading -40.14% off 52-week high price. On the other end, the stock has been noted 32.90% away from the low price over the last 52-weeks.

Tutor Perini Corporation (TPC) stated results recently for the third quarter ended September 30, 2019.

The Company generated a new quarterly record $222.9M of operating cash for the third quarter of 2019 contrast to $27.6M for the same quarter last year. The strong operating cash flow was driven by collections associated with certain dispute resolutions, as well as from the Company’s continued focus on improved working capital management. Operating cash flow is predictable to be solid in the fourth quarter and in 2020, as the Company expects construction activities to increase importantly and several of its larger projects to generate higher revenue and earnings. The Company also anticipates that substantial cash collections pertaining to additional predictable dispute resolutions over the coming year will contribute to continued strong operating cash flow.

Revenue for the third quarter of 2019 was $1.2B contrast to $1.1B for the same quarter last year. The revenue growth was primarily driven by increased volume on Civil section projects, but was moderated by slower than anticipated progress during the quarter on various large projects. The Company continues to anticipate increased volume and greater profitability during the fourth quarter of 2019 and throughout 2020. Income from construction operations for the third quarter of 2019 was $47.9M contrast to $47.3M for the third quarter of 2018, as higher legal and personnel-related general and administrative expenses largely offset the income associated with the increased revenue. Net income attributable to the Company for the third quarter of 2019 was $19.3M, or $0.38 of earnings per diluted share (“EPS”), contrast to $21.3M, or $0.42 of EPS, for the same quarter last year. The decrease was primarily the result of higher income attributable to non-controlling interests contrast to the third quarter of 2018.

Backlog remained strong at $10.9B as of September 30, 2019, a raise of 28% contrast to $8.5B as of September 30, 2018. New awards and adjustments to contracts in process totaled $690M in the third quarter of 2019. Important new awards included a $178M U.S. military facilities project in Guam, three electrical projects in Texas collectively valued at $99M, $59M of incremental funding for an education building in California, and a cultural arts facility, also in California, valued at $51M. Two new before reported projects, the Division 20 Portal Widening and Turnback Facility in Los Angeles and the Miami-Dade County Courthouse, with an anticipated combined value in excess of $700M, are predictable to be added to backlog in the fourth quarter of 2019.

TPC has a gross margin of 10.40% and an operating margin of -4.00% while its profit margin remained -5.70% for the last 12 months. Its earnings per share (EPS) expected to touch remained -11.20% for this year while earning per share for the next 5-years is expected to reach at 10.00%.  The company has 49.87M of outstanding shares and 40.1M shares were floated in the market. According to the most recent quarter its current ratio was 1.9 that represents company’s ability to meet its current financial obligations. The price moved ahead of -5.52% from the mean of 20 days, -18.09% from mean of 50 days SMA and performed -16.45% from mean of 200 days price. Company’s performance for the week was 1.91%, -19.26% for month and YTD performance remained -4.51%.

 

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