Sterling Construction Company Inc (STRL) Expected to Announce Quarterly Sales of $211.70 Million
Wall Street brokerages expect that Sterling Construction Company Inc (NASDAQ:STRL) will announce sales of $211.70 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Sterling Construction’s earnings, with estimates ranging from $210.40 million to $213.00 million. Sterling Construction reported sales of $168.35 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 25.7%. The business is expected to announce its next earnings results on Thursday, March 8th.
On average, analysts expect that Sterling Construction will report full-year sales of $211.70 million for the current financial year. For the next financial year, analysts forecast that the company will report sales of $991.10 million per share, with estimates ranging from $982.20 million to $1.00 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Sterling Construction.
Sterling Construction (NASDAQ:STRL) last posted its quarterly earnings results on Monday, October 30th. The construction company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.22 by $0.04. Sterling Construction had a net margin of 0.25% and a return on equity of 4.13%. The company had revenue of $304.20 million during the quarter, compared to analysts’ expectations of $263.69 million. During the same quarter in the previous year, the business posted $0.10 EPS. The firm’s revenue was up 48.0% on a year-over-year basis.
A number of research firms have recently issued reports on STRL. Zacks Investment Research lowered shares of Sterling Construction from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 4th. BidaskClub lowered shares of Sterling Construction from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Canaccord Genuity reiterated a “buy” rating and set a $15.00 price objective on shares of Sterling Construction in a research note on Wednesday, August 9th. Finally, TheStreet upgraded shares of Sterling Construction from a “c” rating to a “b-” rating in a research note on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. Sterling Construction currently has a consensus rating of “Hold” and an average price target of $15.33.
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A number of institutional investors have recently added to or reduced their stakes in the business. Chicago Equity Partners LLC boosted its holdings in Sterling Construction by 169.9% in the third quarter. Chicago Equity Partners LLC now owns 339,850 shares of the construction company’s stock worth $5,176,000 after purchasing an additional 213,921 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in Sterling Construction by 21.2% in the third quarter. State Board of Administration of Florida Retirement System now owns 20,677 shares of the construction company’s stock worth $315,000 after purchasing an additional 3,621 shares during the period. Rice Hall James & Associates LLC boosted its holdings in Sterling Construction by 17.6% in the third quarter. Rice Hall James & Associates LLC now owns 271,590 shares of the construction company’s stock worth $4,136,000 after purchasing an additional 40,646 shares during the period. First Trust Advisors LP acquired a new position in Sterling Construction in the third quarter worth $3,608,000. Finally, Thomson Horstmann & Bryant Inc. boosted its holdings in Sterling Construction by 29.2% in the third quarter. Thomson Horstmann & Bryant Inc. now owns 302,476 shares of the construction company’s stock worth $4,606,000 after purchasing an additional 68,289 shares during the period. 78.03% of the stock is owned by hedge funds and other institutional investors.
Sterling Construction (NASDAQ STRL) traded down 0.5793% on Wednesday, reaching $17.7466. 509,137 shares of the company’s stock traded hands. Sterling Construction has a 52 week low of $6.13 and a 52 week high of $18.82. The firm’s market capitalization is $479.69 million. The stock has a 50-day moving average of $15.05 and a 200 day moving average of $12.17.
About Sterling Construction
Sterling Construction Company, Inc is a heavy civil construction company engaged in the building and reconstruction of transportation and water infrastructure projects in Texas, Utah, Nevada, Arizona, California, Hawaii and other states. The Company’s transportation infrastructure projects include highways, roads, bridges, airfields, ports and light rail.
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