Construction Partners (NASDAQ:ROAD) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Construction Partners (NASDAQ:ROADGet Free Report) issued its quarterly earnings data on Friday. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05, Briefing.com reports. Construction Partners had a net margin of 3.68% and a return on equity of 12.11%. The company had revenue of $371.43 million for the quarter, compared to the consensus estimate of $363.12 million. During the same quarter in the prior year, the firm earned ($0.11) earnings per share. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. Construction Partners updated its FY 2024 guidance to EPS.

Construction Partners Stock Performance

Shares of ROAD opened at $55.44 on Monday. Construction Partners has a 52 week low of $27.33 and a 52 week high of $58.65. The company has a quick ratio of 1.39, a current ratio of 1.75 and a debt-to-equity ratio of 0.82. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 47.39, a PEG ratio of 1.44 and a beta of 0.68. The business has a 50-day simple moving average of $53.39 and a two-hundred day simple moving average of $46.87.

Wall Street Analyst Weigh In

ROAD has been the topic of several research analyst reports. Sidoti cut Construction Partners from a “buy” rating to a “neutral” rating and set a $59.00 price target on the stock. in a report on Thursday, March 28th. Robert W. Baird cut Construction Partners from an “outperform” rating to a “neutral” rating and raised their target price for the stock from $46.00 to $50.00 in a research report on Monday, February 12th. Finally, Stifel Nicolaus upped their price target on shares of Construction Partners from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, February 12th. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

Read Our Latest Stock Analysis on Construction Partners

About Construction Partners

(Get Free Report)

Construction Partners, Inc, a civil infrastructure company, constructs and maintains roadways in Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee. The company provides various products and services to public and private infrastructure projects, such as highways, roads, bridges, airports, and commercial and residential developments.

See Also

Earnings History for Construction Partners (NASDAQ:ROAD)

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