Wall Street brokerages expect Sterling Construction Company, Inc. (NASDAQ:STRL) to post earnings per share of $0.41 for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Sterling Construction’s earnings. Sterling Construction reported earnings of $0.33 per share in the same quarter last year, which would indicate a positive year over year growth rate of 24.2%. The firm is expected to report its next quarterly 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 financial year, with EPS estimates ranging from $1.04 to $1.05. For the next financial year, analysts anticipate that the company will post earnings of $1.73 per share, with EPS estimates ranging from $1.21 to $2.24. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Sterling Construction.
Sterling Construction (NASDAQ:STRL) last issued its earnings results on Monday, August 5th. The construction company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.03). The firm had revenue of $264.09 million during the quarter, compared to the consensus estimate of $280.00 million. Sterling Construction had a return on equity of 14.15% and a net margin of 2.34%. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period last year, the business earned $0.30 earnings per share.
Several research analysts recently commented on the company. DA Davidson raised their target price on Sterling Construction from $18.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. ValuEngine cut Sterling Construction from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 8th. BidaskClub raised Sterling Construction from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 25th. Finally, Zacks Investment Research raised Sterling Construction from a “sell” rating to a “buy” rating and set a $18.00 target price for the company in a research report on Tuesday, October 15th.
In related news, CEO Joseph A. Cutillo acquired 35,500 shares of the business’s stock in a transaction on Friday, August 16th. The stock was bought at an average cost 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 in the company, valued at $2,888,634.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Joseph A. Cutillo acquired 48,400 shares of the business’s stock in a transaction on Monday, August 19th. The shares were bought at an average cost of $11.01 per share, with a total value of $532,884.00. Following the completion of the acquisition, the chief executive officer now owns 264,527 shares of the company’s stock, valued at approximately $2,912,442.27. The disclosure for this purchase can be found here. 2.00% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the business. Dalton Greiner Hartman Maher & Co. grew its position in shares of Sterling Construction by 7.8% in the 3rd quarter. Dalton Greiner Hartman Maher & Co. now owns 659,538 shares of the construction company’s stock valued at $8,673,000 after purchasing an additional 47,950 shares during the period. River & Mercantile Asset Management LLP acquired a new position in shares of Sterling Construction in the 2nd quarter valued at approximately $2,791,000. Ladenburg Thalmann Financial Services Inc. grew its position in shares of Sterling Construction by 1,216.4% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 16,679 shares of the construction company’s stock valued at $224,000 after purchasing an additional 15,412 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in shares of Sterling Construction by 43.9% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 29,500 shares of the construction company’s stock valued at $396,000 after purchasing an additional 9,000 shares during the period. Finally, Nuveen Asset Management LLC acquired a new position in shares of Sterling Construction in the 2nd quarter valued at approximately $2,961,000. 83.92% of the stock is owned by institutional investors.
STRL stock traded up $0.05 during midday trading on Tuesday, hitting $16.70. The stock had a trading volume of 165,371 shares, compared to its average volume of 168,944. The firm has a market capitalization of $433.52 million, a price-to-earnings ratio of 17.96 and a beta of 1.17. Sterling Construction has a 52 week low of $9.71 and a 52 week high of $16.93. The stock has a 50-day simple moving average of $13.68 and a 200 day simple moving average of $12.84. The company has a current ratio of 1.56, a quick ratio of 1.54 and a debt-to-equity ratio of 0.43.
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.
Further Reading: Diluted Earnings Per Share
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