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August 15, 2012

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Not Constructive
Tutor Perini (TPC,$TPC) Continues Slide, Returns more than 19% for ValuEngine Market Neutral Newsletter Tutor Perini Corporation, formerly Perini Corporation, is a leading construction services company offering diversified general contracting, construction management and design/build services to private clients and public agencies throughout the world. The Company offers general contracting, pre construction planning and project management services, including the planning and scheduling of the manpower, equipment, materials and subcontractors required for a project. It offers general contracting, pre-construction planning and comprehensive project management services, including the planning and scheduling of the manpower, equipment, materials and subcontractors required for a project. It also offers self performed construction services including excavation, concrete forming and placement, steel erection, electrical and mechanical services, plumbing and HVAC. Tutor Perini Corporation is headquartered in Framingham, Massachusetts. Tutor Perini (TPC) was the primary short pick for the Construction Sector for this month's ValuEngine Forecast 16 Market Neutral Strategy Newsletter. SInce selection on July 18th, the stock has declined @ $2.50/share for a gain of more than 19%. The company was recently downgraded by some analysts following an earnings and revenue miss earlier this month. That was the quarterly miss in a row for the firm. We rate the firm quite poorly on valuation, forecast, and momentum.

ValuEngine has issued a STRONG SELL recommendation for TUTOR PERINI CP on Aug. 15, 2012. Based on the information we have gathered and our resulting research, we feel that TUTOR PERINI CP has the probability to UNDERPERFORM average market performance for the next year. The company exhibits UNATTRACTIVE market valuation, risk and 5-year annualized return. Based on available data as of Aug. 15, 2012, we believe that TPC should be trading at $2.57. This makes TPC 300.00% overvalued. Fair Value indicates what we believe the stock should be trading at today if the stock market were perfectly efficient and everything traded at its true worth. For TPC, we base this on actual earnings per share (EPS) for the previous four quarters of $1.63, forecasted EPS for the next four quarters of $2.39, and correlations to the 30-year Treasury bond yield of 2.82%. ValuEngine Forecast
Target Price Expected Return 2.03% 4.83% 7.62% 12.36% 16.69% 23.46%

1-Month 3-Month 6-Month 1-Year 2-Year 3-Year

35.6 36.57 37.55 39.2 40.71 43.07

Valuation & Rankings


Valuation 1-M Forecast Return 12-M Return Sharpe Ratio 5-Y Avg Annual Return Volatility Expected EPS Growth Market Cap (billions) Trailing P/E Ratio Forward P/E Ratio PEG Ratio Price/Sales Market/Book Beta Alpha 0.45% overvalued 2.03% 89.72% -0.12 -6.93% 56.40% 14.03% 4.9 8.96 7.85 0.64 0.15 1.28 1.47 0.52 Valuation Rank 1-M Forecast Return Rank Momentum Rank Sharpe Ratio Rank 5-Y Avg Annual Rtn Rank Volatility Rank EPS Growth Rank Size Rank Trailing P/E Rank Forward P/E Ratio Rank PEG Ratio Rank Price/Sales Rank Market/Book Rank Beta Rank Alpha Rank 35 98 97 54 50 41 44 88 88 86 64 90 59 32 95

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Market Overview
Summary of VE Stock Universe
Stocks Undervalued Stocks Overvalued Stocks Undervalued by 20% Stocks Overvalued by 20% 63.32% 36.68% 28.97% 12.03%

Sector
Aerospace Auto-Tires-Trucks Basic Materials Business Services Computer and Technology Construction Consumer Discretionary Consumer Staples Finance Industrial Products Medical Multi-Sector Conglomerates Oils-Energy Retail-Wholesale Transportation Utilities

Change
-0.15% -0.51% -0.42% -0.32% -0.62% 0.30% -0.47% 0.21% -0.18% -0.28% -0.41% -0.02% -0.52% -0.44% 0.23% 0.02%

MTD
1.35% 3.23% 2.55% 0.69% 2.42% 3.09% 1.14% 1.57% 4.64% 1.22% 0.99% 2.84% 1.81% 0.56% -0.09% 1.03%

YTD
1.68% 2.75% -2.17% 5.21% 5.40% 84.92% 13.05% 11.79% 19.51% 1.46% 14.12% 10.72% -7.79% 11.17% 7.62% 1.94%

Valuation
5.11% undervalued 11.17% undervalued 12.21% undervalued 2.40% undervalued 4.08% overvalued 3.24% overvalued 1.08% undervalued 8.38% overvalued 6.92% overvalued 3.95% undervalued 4.21% overvalued 5.98% undervalued 3.90% undervalued 4.14% overvalued 1.51% undervalued 14.35% overvalued

Last 12-M Return


1.00% -5.91% -30.73% 4.32% -3.90% 15.72% 1.74% 2.40% 9.31% -4.28% -0.15% 8.33% -15.70% 13.70% -3.83% 5.43%

P/E Ratio
22.4 18.1 25.37 23.27 41.91 28.96 27.78 19.29 18.9 22.01 40.38 14.91 36.17 24.64 17.93 18.36

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