Buys TPC 10.41. At this price TPC’s forward P/E is 5.5.

Tutor Perini ‘significantly’ cuts FY15 GAAP EPS guidance, expects revs at low end of prior guidance, offers mixed FY16 outlook  (12.82)
1/22/2016, 6:09:05 AM ET

Co expects results for 2015 to be significantly below its previous guidance. The decrease is primarily due to significant project charges at Five Star Electric recorded in the third and fourth quarters of 2015 and the previously disclosed adverse appellate court decision in the third quarter of 2015 related to a long-standing litigation matter for which the Company, as part of a 2011 acquisition, assumed liability as a minority partner in a joint venture for a project that had already been completed. As a result of issues at FSE, the Company has terminated or replaced key management personnel within that business unit. The Company’s reduced earnings in 2015 were also impacted by other previously disclosed factors, including the major loss on the Tower C concrete superstructure project in New York and delays on the Alaskan Way Viaduct project in Seattle.

  • Tutor Perini sees FY15 GAAP EPS of $0.85-0.90 (Prior diluted EPS guidance of $1.90-2.10) vs the non-GAAP $1.59 Capital IQ Consensus Estimate; sees revs ~$5 bln (Prior guidance $5-5.5 bln) vs $5.11 bln Capital IQ Consensus Estimate
  • Tutor Perini also offered preliminary FY16 guidance saying it sees diluted EPS of $1.90-2.20 vs the non-GAAP $2.40 Capital IQ Consensus Estimate; sees revs $5.1-5.6 bln vs $5.37 bln Capital IQ Consensus Estimate. The Company expects to soon book into backlog a large new award for a major civil project, which should contribute to the continued strong performance of the Civil segment. In addition, the Company continues to see a very strong pipeline of project bidding opportunities across all its segments, including a number of billion-dollar-plus civil projects expected to be bid in 2016.
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This will be a long term hold with targets at 14.95,17.35 and 19.50.

blog tpc weekly 1-22-2016

The chart above shows you the measured move that provided my buying target. The low of the day is 10.35.

Dave C.

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