Stock Track | Tutor Perini Plunges 7.92% in Pre-Market After Missing Earnings Estimates

Stock Track02-27

Tutor Perini's stock fell sharply by 7.92% in pre-market trading on Friday, as investors reacted negatively to the company's latest quarterly results.

The construction and engineering firm reported earnings for the quarter ended December 31 that missed analyst expectations. While revenue surged 41.2% year-over-year to $1.51 billion, beating estimates of $1.36 billion, adjusted earnings per share came in at 54 cents, below the consensus estimate of 58 cents.

This earnings miss appears to have driven the pre-market sell-off, overshadowing positive news from B. Riley, which raised its price target on Tutor Perini to $120 from $95 earlier in the day.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment