Sterling Construction Company Inc (STRL) to Post FY2017 Earnings of $0.44 Per Share, KeyCorp Forecasts
Sterling Construction Company Inc (NASDAQ:STRL) – Equities researchers at KeyCorp increased their FY2017 earnings per share estimates for shares of Sterling Construction in a research note issued to investors on Tuesday. KeyCorp analyst S. Eastman now forecasts that the construction company will post earnings per share of $0.44 for the year, up from their prior estimate of $0.38. KeyCorp also issued estimates for Sterling Construction’s FY2018 earnings at $0.95 EPS.
Other equities research analysts have also recently issued research reports about the stock. TheStreet raised shares of Sterling Construction from a “c” rating to a “b-” rating in a 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 raised shares of Sterling Construction from a “hold” rating to a “strong-buy” rating and set a $12.00 price target on the stock in a report on Tuesday, August 8th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $15.00 price target on shares of Sterling Construction in a report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $15.33.
TRADEMARK VIOLATION WARNING: This piece of content was first published by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another site, it was stolen and reposted in violation of US & international trademark & copyright legislation. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/11/02/sterling-construction-company-inc-strl-to-post-fy2017-earnings-of-0-44-per-share-keycorp-forecasts.html. Sterling Construction (NASDAQ:STRL) last released its quarterly earnings data on Monday, October 30th. The construction company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.04. The firm had revenue of $304.20 million for the quarter, compared to analyst estimates of $263.69 million. Sterling Construction had a return on equity of 4.13% and a net margin of 0.25%. The business’s revenue for the quarter was up 48.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 earnings per share.
Several large investors have recently bought and sold shares of STRL. Bank of New York Mellon Corp raised its holdings in shares of Sterling Construction by 74.3% in the 1st 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 period. Vanguard Group Inc. raised its holdings in shares of Sterling Construction by 10.8% in the 1st quarter. Vanguard Group Inc. now owns 898,718 shares of the construction company’s stock worth $8,313,000 after purchasing an additional 87,436 shares during the period. Geode Capital Management LLC raised its holdings in shares of Sterling Construction by 0.4% in the 1st quarter. Geode Capital Management LLC now owns 142,942 shares of the construction company’s stock worth $1,322,000 after purchasing an additional 558 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Sterling Construction by 14.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,385,898 shares of the construction company’s stock worth $12,819,000 after purchasing an additional 177,239 shares during the period. Finally, Morgan Stanley raised its holdings in shares of Sterling Construction by 2,982.3% in the 1st quarter. Morgan Stanley now owns 169,097 shares of the construction company’s stock worth $1,564,000 after purchasing an additional 163,611 shares during the period. 78.03% of the stock is currently owned by institutional investors.
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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