Sterling Construction Company Inc Forecasted to Earn FY2017 Earnings of $0.45 Per Share (STRL)
Sterling Construction Company Inc (NASDAQ:STRL) – Research analysts at DA Davidson increased their FY2017 EPS estimates for Sterling Construction in a note issued to investors on Wednesday. DA Davidson analyst B. Thielman now anticipates that the construction company will earn $0.45 per share for the year, up from their prior forecast of $0.40. DA Davidson also issued estimates for Sterling Construction’s Q4 2017 earnings at $0.13 EPS, Q1 2018 earnings at $0.05 EPS, Q2 2018 earnings at $0.32 EPS, Q3 2018 earnings at $0.40 EPS, Q4 2018 earnings at $0.23 EPS and FY2019 earnings at $1.45 EPS.
Sterling Construction (NASDAQ:STRL) last announced its earnings results on Monday, October 30th. The construction company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. Sterling Construction had a return on equity of 4.13% and a net margin of 0.25%. The firm had revenue of $304.20 million for the quarter, compared to the consensus estimate of $263.69 million. During the same quarter in the previous year, the business earned $0.10 EPS. The company’s revenue was up 48.0% compared to the same quarter last year.
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Other equities research analysts also recently issued research reports about the stock. TheStreet raised shares of Sterling Construction from a “c” rating to a “b-” rating in a research report on Wednesday, August 2nd. BidaskClub cut shares of Sterling Construction from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Zacks Investment Research upgraded shares of Sterling Construction from a “hold” rating to a “strong-buy” rating and set a $12.00 target price on the stock in a report on Tuesday, August 8th. Finally, Canaccord Genuity restated a “buy” rating and issued a $15.00 target price on shares of Sterling Construction in a report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $15.33.
A number of hedge funds have recently modified their holdings of STRL. Bank of New York Mellon Corp boosted its holdings in Sterling Construction by 74.3% in the first quarter. Bank of New York Mellon Corp now owns 24,690 shares of the construction company’s stock worth $228,000 after purchasing an additional 10,528 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Sterling Construction by 10.8% during the 1st quarter. Vanguard Group Inc. now owns 898,718 shares of the construction company’s stock worth $8,313,000 after acquiring an additional 87,436 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Sterling Construction by 0.4% during the 1st quarter. Geode Capital Management LLC now owns 142,942 shares of the construction company’s stock worth $1,322,000 after acquiring an additional 558 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Sterling Construction by 14.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,385,898 shares of the construction company’s stock worth $12,819,000 after acquiring an additional 177,239 shares during the last quarter. Finally, Morgan Stanley boosted its stake in shares of Sterling Construction by 2,982.3% during the 1st quarter. Morgan Stanley now owns 169,097 shares of the construction company’s stock worth $1,564,000 after acquiring an additional 163,611 shares during the last quarter. Institutional investors own 78.03% of the company’s stock.
Sterling Construction Company Profile
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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