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.