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TPC

Tutor Perini NYSE:TPC Stock Report

Last Price

US$7.76

Market Cap

US$398.5m

7D

-14.5%

1Y

-46.3%

Updated

06 Aug, 2022

Data

Company Financials +
TPC fundamental analysis
Snowflake Score
Valuation3/6
Future Growth3/6
Past Performance0/6
Financial Health2/6
Dividends0/6

TPC Stock Overview

Tutor Perini Corporation, a construction company, provides diversified general contracting, construction management, and design-build services to private customers and public agencies worldwide.

Tutor Perini Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Tutor Perini
Historical stock prices
Current Share PriceUS$7.76
52 Week HighUS$15.67
52 Week LowUS$7.24
Beta1.28
1 Month Change-12.12%
3 Month Change-20.41%
1 Year Change-46.30%
3 Year Change-22.24%
5 Year Change-70.10%
Change since IPO-77.75%

Recent News & Updates

Aug 05

Tutor Perini GAAP EPS of -$1.23 misses by $1.64, revenue of $861.02M misses by $268.98M

Tutor Perini press release (NYSE:TPC): Q2 GAAP EPS of -$1.23 misses by $1.64. Revenue of $861.02M (-29.4% Y/Y) misses by $268.98M.

Jul 12

Tutor Perini: Time To Execute

Record operating cash flow reported by Tutor Perini in Q1 this year. Although Tutor Perini reported a bottom-line loss, earnings guidance for the full year was maintained. TPC stock should recover the psychological $10 level before long. Intro We wrote about Tutor Perini (TPC) back in March when we stated that the company needed to begin to turn over capital faster. Although the fourth quarter last year was disappointing from a sales and earnings perspective, the company's recent first-quarter earnings report was more encouraging for a number of reasons which we will get into. From a technical standpoint initially, however, shares have continued to lose ground since the announcement of those first-quarter earnings back in May. Shares are now trading well below the $10 level so it will be interesting to see if shares can bottom here over the near term. We state this because the company finally managed to generate a sizable amount of operating cash flow ($121 million) in the first quarter as a result of multiple cash collections and ongoing disputes which finally came to an end. Management will now be hoping that this record Q1 cash flow can act as a catalyst for sustained improvement to come. Investors who follow this company will be well aware of the various external factors which can affect this company's operations. Trading conditions, as well as the speed of collections all, obviously tie into how fast sales and earnings can be internally generated. Although the timing of a long-play may still be off here, TPC's risk/reward profile from both a profitability and valuation standpoint is beginning to stack up here for the following reasons. Tutor Perini Trying To Recover Support (Stockcharts.com) Tutor Perini's Profitability Despite the fact that the company reported a bottom-line loss of $0.42 per share due to a legal ruling which did not go the company's way, full-year guidance was maintained which was encouraging. From an investor's standpoint, the Q1 reported loss is temporary in nature and we expect roles to be reversed later this year when decisions from other disputes should go the company's way. Furthermore, backlog trends clearly demonstrate the strong demand the market has for Tutor Perini's services (Backlog stood at $8.3 billion at the end of Q1) with multiple award wins (Eagle Mountain pipeline, etc.) in the building and civil segments following on into the second quarter. This bullish trend should have legs given the fact that funding from the federal infrastructure bill is expected to be spun out over the next five years or so. Earnings revisions are starting to be dialed up with the company's Q2 estimate of $0.42 per share up over $0.11 over the past 30 days alone. The third-quarter estimate of $0.56 per share also has gotten a boost over the past 30 days which leads us to believe that if these trends continue, the market sooner rather than later will begin to price the shares upward.

Jun 14
The Returns On Capital At Tutor Perini (NYSE:TPC) Don't Inspire Confidence

The Returns On Capital At Tutor Perini (NYSE:TPC) Don't Inspire Confidence

To avoid investing in a business that's in decline, there's a few financial metrics that can provide early indications...

Shareholder Returns

TPCUS ConstructionUS Market
7D-14.5%0.7%1.0%
1Y-46.3%10.0%-12.9%

Return vs Industry: TPC underperformed the US Construction industry which returned 10.1% over the past year.

Return vs Market: TPC underperformed the US Market which returned -12.8% over the past year.

Price Volatility

Is TPC's price volatile compared to industry and market?
TPC volatility
TPC Average Weekly Movement6.2%
Construction Industry Average Movement6.2%
Market Average Movement7.9%
10% most volatile stocks in US Market17.1%
10% least volatile stocks in US Market3.2%

Stable Share Price: TPC is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: TPC's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
18947,800Ronald Tutorhttps://www.tutorperini.com

Tutor Perini Corporation, a construction company, provides diversified general contracting, construction management, and design-build services to private customers and public agencies worldwide. It operates through three segments: Civil, Building, and Specialty Contractors. The Civil segment engages in the public works construction and the replacement and reconstruction of infrastructure, construction and rehabilitation of highways, bridges, tunnels, mass-transit systems, military defense facilities, and water management and wastewater treatment facilities.

Tutor Perini Fundamentals Summary

How do Tutor Perini's earnings and revenue compare to its market cap?
TPC fundamental statistics
Market CapUS$398.54m
Earnings (TTM)-US$39.91m
Revenue (TTM)US$4.03b

0.1x

P/S Ratio

-10.0x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
TPC income statement (TTM)
RevenueUS$4.03b
Cost of RevenueUS$3.78b
Gross ProfitUS$244.57m
Other ExpensesUS$284.48m
Earnings-US$39.91m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)-0.78
Gross Margin6.07%
Net Profit Margin-0.99%
Debt/Equity Ratio61.8%

How did TPC perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is TPC undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for TPC?

Other financial metrics that can be useful for relative valuation.

TPC key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue0.3x
Enterprise Value/EBITDA10.6x
PEG Ration/a

Price to Sales Ratio vs Peers

How does TPC's PS Ratio compare to its peers?

TPC PS Ratio vs Peers
The above table shows the PS ratio for TPC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average2.6x
BBCP Concrete Pumping Holdings
1.2x6.4%US$411.4m
SOL ReneSola
7.2x37.2%US$436.6m
GLDD Great Lakes Dredge & Dock
0.9x7.1%US$648.9m
NWPX Northwest Pipe
0.8x9.9%US$288.8m
TPC Tutor Perini
0.1x7.0%US$398.5m

Price-To-Sales vs Peers: TPC is good value based on its Price-To-Sales Ratio (0.1x) compared to the peer average (2.6x).


Price to Earnings Ratio vs Industry

How does TPC's PE Ratio compare vs other companies in the US Construction Industry?

Price-To-Sales vs Industry: TPC is good value based on its Price-To-Sales Ratio (0.1x) compared to the US Construction industry average (0.8x)


Price to Sales Ratio vs Fair Ratio

What is TPC's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

TPC PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.1x
Fair PS Ratio0.4x

Price-To-Sales vs Fair Ratio: TPC is good value based on its Price-To-Sales Ratio (0.1x) compared to the estimated Fair Price-To-Sales Ratio (0.4x).


Share Price vs Fair Value

What is the Fair Price of TPC when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: TPC ($7.76) is trading above our estimate of fair value ($5.38)

Significantly Below Fair Value: TPC is trading above our estimate of fair value.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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Future Growth

How is Tutor Perini forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

Future Growth Score

3/6

Future Growth Score 3/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


69.9%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TPC is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.9%).

Earnings vs Market: TPC is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: TPC is expected to become profitable in the next 3 years.

Revenue vs Market: TPC's revenue (7% per year) is forecast to grow slower than the US market (7.9% per year).

High Growth Revenue: TPC's revenue (7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TPC's Return on Equity is forecast to be low in 3 years time (6.8%).


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Past Performance

How has Tutor Perini performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-9.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: TPC is currently unprofitable.

Growing Profit Margin: TPC is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: TPC is unprofitable, and losses have increased over the past 5 years at a rate of 9.2% per year.

Accelerating Growth: Unable to compare TPC's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: TPC is unprofitable, making it difficult to compare its past year earnings growth to the Construction industry (10%).


Return on Equity

High ROE: TPC has a negative Return on Equity (-0.85%), as it is currently unprofitable.


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Financial Health

How is Tutor Perini's financial position?

Financial Health Score

2/6

Financial Health Score 2/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: TPC's short term assets ($3.9B) exceed its short term liabilities ($2.0B).

Long Term Liabilities: TPC's short term assets ($3.9B) exceed its long term liabilities ($1.2B).


Debt to Equity History and Analysis

Debt Level: TPC's net debt to equity ratio (42%) is considered high.

Reducing Debt: TPC's debt to equity ratio has increased from 53.9% to 61.8% over the past 5 years.

Debt Coverage: TPC's debt is not well covered by operating cash flow (16.7%).

Interest Coverage: TPC's interest payments on its debt are not well covered by EBIT (0.2x coverage).


Balance Sheet


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Dividend

What is Tutor Perini current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate TPC's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate TPC's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if TPC's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if TPC's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as TPC has not reported any payouts.


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Management

How experienced are the management team and are they aligned to shareholders interests?

6.9yrs

Average management tenure


CEO

Ronald Tutor (82 yo)

22.42yrs

Tenure

US$14,808,920

Compensation

Mr. Ronald N. Tutor serves as President of Black Construction Corporation. Mr. Tutor has been Chief Executive Officer of Tutor Perini Corporation since March 29, 2000. He was the Owner of Tutor-saliba Corp...


CEO Compensation Analysis

Compensation vs Market: Ronald's total compensation ($USD14.81M) is above average for companies of similar size in the US market ($USD2.70M).

Compensation vs Earnings: Ronald's compensation has increased whilst the company is unprofitable.


Leadership Team

Experienced Management: TPC's management team is seasoned and experienced (6.9 years average tenure).


Board Members

Experienced Board: TPC's board of directors are considered experienced (8.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: TPC insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Tutor Perini Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: Tutor Perini Corporation
  • Ticker: TPC
  • Exchange: NYSE
  • Founded: 1894
  • Industry: Construction and Engineering
  • Sector: Capital Goods
  • Implied Market Cap: US$398.536m
  • Shares outstanding: 51.36m
  • Website: https://www.tutorperini.com

Number of Employees


Location

  • Tutor Perini Corporation
  • 15901 Olden Street
  • Sylmar
  • California
  • 91342
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/06 00:00
End of Day Share Price2022/08/05 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.