Tutor Perini: B. Riley Securities Maintains Buy, Raises PT to $75 from $50.

Tutor Perini: B. Riley Securities Maintains Buy, Raises PT to $75 from $50.

B. Riley Securities has maintained its "Buy" rating on Tutor Perini Corporation (NYSE: TPC) while raising its price target to $75 from $50. The brokerage firm cited the company's strong second-quarter earnings and a robust pipeline of projects as reasons for the upgrade [3].

Tutor Perini reported a second-quarter EPS of $1.41, $1.07 better than the analyst estimate of $0.34. Revenue for the quarter came in at $1.37 billion, surpassing the consensus estimate of $1.2 billion [2]. The company's stock price closed at $47.28, up 44.54% in the last three months and 160.07% in the last 12 months [2].

The company's CEO, Gary G. Smalley, highlighted an "outstanding second quarter," setting new records across various metrics. Operating cash flow for the quarter was $262 million, and backlog reached a new all-time record of $21.1 billion, up 102% year-over-year and 9% sequentially [3].

B. Riley Securities expects Tutor Perini's EPS to grow to $3.65-$3.95 in 2025, up from the previous guidance of $1.60-$1.95. The brokerage firm also noted the company's strong competitive position and a favorable project pipeline [3].

Investors should closely monitor Tutor Perini's ability to execute on its ambitious plans and manage higher share-based compensation expenses, which are expected to decrease in the coming years.

References:
[1] https://marketinference.com/allaccess/United%20States/
[2] https://za.investing.com/news/earnings/tutor-perini-earnings-beat-by-107-revenue-topped-estimates-3824053
[3] https://seekingalpha.com/news/4480817-tutor-perini-raises-2025-eps-guidance-to-1_70-2_00-as-record-21_1b-backlog-supports-outlook