Wall Street brokerages predict that Sterling Construction Company, Inc. (NASDAQ:STRL) will post sales of $303.00 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Sterling Construction’s earnings, with the lowest sales estimate coming in at $295.50 million and the highest estimate coming in at $310.50 million. Sterling Construction reported sales of $304.22 million in the same quarter last year, which indicates a negative year over year growth rate of 0.4%. The firm is scheduled to announce its next earnings results on Monday, October 29th.
On average, analysts expect that Sterling Construction will report full year sales of $1.04 billion for the current year. For the next financial year, analysts anticipate that the business will post sales of $1.10 billion per share, with estimates ranging from $1.09 billion to $1.11 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Sterling Construction.
Sterling Construction (NASDAQ:STRL) last issued its earnings results on Thursday, August 2nd. The construction company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.05. The firm had revenue of $268.70 million during the quarter, compared to analysts’ expectations of $259.95 million. Sterling Construction had a net margin of 1.99% and a return on equity of 13.94%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the firm posted $0.13 earnings per share.
Several equities research analysts recently commented on the stock. TheStreet upgraded shares of Sterling Construction from a “c+” rating to a “b” rating in a research report on Friday, June 1st. ValuEngine upgraded shares of Sterling Construction from a “hold” rating to a “buy” rating in a research report on Friday, August 3rd. Zacks Investment Research upgraded shares of Sterling Construction from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Friday, June 15th. Canaccord Genuity restated a “buy” rating and issued a $20.00 price target on shares of Sterling Construction in a research report on Friday. Finally, BidaskClub upgraded shares of Sterling Construction from a “sell” rating to a “hold” rating in a research report on Saturday, July 14th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $17.50.
In related news, Director Marian M. Davenport sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 22nd. The shares were sold at an average price of $12.81, for a total value of $102,480.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.20% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its position in Sterling Construction by 2.9% in the 1st quarter. JPMorgan Chase & Co. now owns 148,185 shares of the construction company’s stock worth $1,698,000 after buying an additional 4,210 shares in the last quarter. Hancock Holding Co. lifted its position in Sterling Construction by 22.6% in the 1st quarter. Hancock Holding Co. now owns 22,921 shares of the construction company’s stock worth $263,000 after buying an additional 4,226 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in Sterling Construction by 15.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 57,934 shares of the construction company’s stock worth $664,000 after buying an additional 7,800 shares in the last quarter. Metropolitan Life Insurance Co. NY purchased a new stake in Sterling Construction in the 4th quarter worth approximately $145,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in Sterling Construction in the 2nd quarter worth approximately $135,000. Institutional investors and hedge funds own 78.70% of the company’s stock.
NASDAQ:STRL traded up $0.18 during trading hours on Tuesday, reaching $15.58. 148,459 shares of the company’s stock were exchanged, compared to its average volume of 160,283. The stock has a market capitalization of $416.79 million, a price-to-earnings ratio of 28.33, a PEG ratio of 1.49 and a beta of 0.35. Sterling Construction has a 12 month low of $9.42 and a 12 month high of $18.90. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.64 and a current ratio of 1.65.
About Sterling Construction
Sterling Construction Company, Inc, together with its subsidiaries, operates as a heavy civil and residential construction company in Arizona, California, Colorado, Hawaii, Nevada, Texas, Utah, and other states in the United States. The company's Heavy Civil Construction segment undertakes heavy civil construction projects, including highways, roads, bridges, airfields, ports, light rail, water, wastewater and storm drainage systems, foundations for multi-family homes, commercial concrete projects, and parking structures.
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