Wall Street analysts predict that Sterling Construction Company, Inc. (NASDAQ:STRL) will announce $0.41 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Sterling Construction’s earnings. Sterling Construction posted earnings of $0.33 per share during the same quarter last year, which would suggest a positive year over year growth rate of 24.2%. The company is expected to announce its next earnings report on Monday, November 4th.
According to Zacks, analysts expect that Sterling Construction will report full year earnings of $1.05 per share for the current fiscal year, with EPS estimates ranging from $1.04 to $1.05. For the next financial year, analysts anticipate that the business will post earnings of $1.35 per share, with EPS estimates ranging from $1.21 to $1.48. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for Sterling Construction.
Sterling Construction (NASDAQ:STRL) last released its earnings results on Monday, August 5th. The construction company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.03). Sterling Construction had a net margin of 2.34% and a return on equity of 14.15%. The company had revenue of $264.09 million during the quarter, compared to analyst estimates of $280.00 million. During the same period in the previous year, the company posted $0.30 EPS. The company’s quarterly revenue was down 1.7% compared to the same quarter last year.
Several equities analysts have weighed in on the company. ValuEngine raised Sterling Construction from a “sell” rating to a “hold” rating in a research note on Wednesday, September 4th. Zacks Investment Research downgraded Sterling Construction from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Finally, BidaskClub upgraded Sterling Construction from a “hold” rating to a “buy” rating in a report on Thursday, September 12th.
In other news, CEO Joseph A. Cutillo acquired 48,400 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was acquired at an average cost of $11.01 per share, for a total transaction of $532,884.00. Following the completion of the acquisition, the chief executive officer now owns 264,527 shares in the company, valued at $2,912,442.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joseph A. Cutillo acquired 35,500 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were purchased at an average price of $10.92 per share, with a total value of $387,660.00. Following the completion of the acquisition, the chief executive officer now owns 264,527 shares of the company’s stock, valued at approximately $2,888,634.84. The disclosure for this purchase can be found here. 2.00% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its position in Sterling Construction by 260.1% during the first quarter. JPMorgan Chase & Co. now owns 746,631 shares of the construction company’s stock valued at $9,348,000 after purchasing an additional 539,301 shares during the last quarter. Wells Fargo & Company MN boosted its position in Sterling Construction by 61.1% during the second quarter. Wells Fargo & Company MN now owns 634,825 shares of the construction company’s stock valued at $8,520,000 after purchasing an additional 240,667 shares during the last quarter. Nuveen Asset Management LLC acquired a new position in Sterling Construction during the second quarter valued at approximately $2,961,000. River & Mercantile Asset Management LLP acquired a new position in Sterling Construction during the second quarter valued at approximately $2,791,000. Finally, O Shaughnessy Asset Management LLC boosted its position in Sterling Construction by 1,815.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 203,235 shares of the construction company’s stock valued at $2,545,000 after purchasing an additional 192,624 shares during the last quarter. Institutional investors and hedge funds own 83.69% of the company’s stock.
NASDAQ:STRL traded up $0.31 during mid-day trading on Friday, hitting $13.18. The company had a trading volume of 253,664 shares, compared to its average volume of 117,137. Sterling Construction has a fifty-two week low of $9.71 and a fifty-two week high of $15.75. The business’s fifty day moving average is $11.56 and its two-hundred day moving average is $12.64. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.54 and a current ratio of 1.56. The firm has a market cap of $340.63 million, a P/E ratio of 14.17 and a beta of 1.18.
About Sterling Construction
Sterling Construction Company, Inc, together with its subsidiaries, operates as a heavy civil and residential construction company in Arizona, California, Colorado, Hawaii, Nevada, Texas, Utah, and other states in the United States. The company's Heavy Civil Construction segment undertakes heavy civil construction projects, including highways, roads, bridges, airfields, ports, light rail, water, wastewater and storm drainage systems, foundations for multi-family homes, commercial concrete projects, and parking structures.
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