Analysts expect Sterling Construction Company Inc (NASDAQ:STRL) to report sales of $262.20 million for the current quarter, Zacks reports. Two analysts have made estimates for Sterling Construction’s earnings, with the highest sales estimate coming in at $265.00 million and the lowest estimate coming in at $259.40 million. Sterling Construction posted sales of $205.63 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 27.5%. The business is scheduled to issue its next quarterly earnings results on Monday, October 30th.
According to Zacks, analysts expect that Sterling Construction will report full-year sales of $262.20 million for the current fiscal year, with estimates ranging from $869.60 million to $877.80 million. For the next financial year, analysts anticipate that the business will post sales of $991.10 million per share, with estimates ranging from $982.20 million to $1.00 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Sterling Construction.
Sterling Construction (NASDAQ:STRL) last announced its earnings results on Wednesday, August 2nd. The construction company reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.17. Sterling Construction had a positive return on equity of 0.06% and a negative net margin of 0.33%. The firm had revenue of $264.40 million for the quarter, compared to the consensus estimate of $231.42 million. During the same period in the previous year, the business earned $0.09 EPS. The firm’s revenue for the quarter was up 39.5% on a year-over-year basis.
Several brokerages have recently issued reports on STRL. Canaccord Genuity reiterated a “buy” rating and issued a $15.00 price objective on shares of Sterling Construction in a research note on Saturday, August 26th. TheStreet cut Sterling Construction from a “b-” rating to a “c” rating in a research note on Monday, August 21st. BidaskClub cut Sterling Construction from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Zacks Investment Research upgraded Sterling Construction from a “hold” rating to a “strong-buy” rating and set a $12.00 price target on the stock in a research note on Tuesday, August 8th. Finally, DA Davidson upgraded Sterling Construction from a “neutral” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Thursday, June 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $14.00.
Shares of Sterling Construction (STRL) traded up 1.98% on Friday, reaching $15.45. The company had a trading volume of 507,285 shares. The firm’s 50 day moving average is $11.80 and its 200 day moving average is $10.92. The firm’s market capitalization is $417.61 million. Sterling Construction has a 12 month low of $6.13 and a 12 month high of $15.82.
A number of institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System acquired a new stake in Sterling Construction in the second quarter valued at $599,000. Argent Capital Management LLC raised its stake in Sterling Construction by 14.0% in the second quarter. Argent Capital Management LLC now owns 349,505 shares of the construction company’s stock valued at $4,568,000 after buying an additional 42,975 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Sterling Construction by 17,821.8% in the second quarter. The Manufacturers Life Insurance Company now owns 25,449 shares of the construction company’s stock valued at $332,000 after buying an additional 25,307 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Sterling Construction by 45.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 134,934 shares of the construction company’s stock valued at $1,764,000 after buying an additional 42,428 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Sterling Construction in the second quarter valued at $194,000. Institutional investors own 78.39% of the company’s stock.
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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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