Equities research analysts predict that Sterling Construction Company, Inc. (NASDAQ:STRL) will announce sales of $303.00 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Sterling Construction’s earnings, with estimates ranging from $295.50 million to $310.50 million. Sterling Construction posted sales of $304.22 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 0.4%. The business is scheduled to issue its next quarterly 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 financial year. For the next year, analysts forecast that the business will report sales of $1.10 billion per share, with estimates ranging from $1.09 billion to $1.11 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Sterling Construction.
Sterling Construction (NASDAQ:STRL) last released its quarterly earnings results on Thursday, August 2nd. The construction company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.25 by $0.05. Sterling Construction had a return on equity of 13.94% and a net margin of 1.99%. The business had revenue of $268.70 million during the quarter, compared to analyst estimates of $259.95 million. During the same period last year, the business posted $0.13 earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis.
Several research analysts have recently commented on STRL shares. TheStreet upgraded Sterling Construction from a “c+” rating to a “b” rating in a research report on Friday, June 1st. ValuEngine upgraded Sterling Construction from a “hold” rating to a “buy” rating in a research report on Friday, August 3rd. Zacks Investment Research upgraded 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 reiterated a “buy” rating and issued a $20.00 target price on shares of Sterling Construction in a report on Friday. Finally, BidaskClub upgraded Sterling Construction from a “sell” rating to a “hold” rating in a report on Saturday, July 14th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $17.50.
In related news, Director Marian M. Davenport sold 8,000 shares of Sterling Construction stock in a transaction on Tuesday, May 22nd. The stock was sold at an average price of $12.81, for a total value of $102,480.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.20% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in STRL. Raymond James Financial Services Advisors Inc. purchased a new stake in Sterling Construction during the 2nd quarter worth about $135,000. Metropolitan Life Insurance Co. NY purchased a new stake in Sterling Construction during the 4th quarter worth about $145,000. Stephens Inc. AR purchased a new stake in Sterling Construction during the 1st quarter worth about $188,000. MetLife Investment Advisors LLC acquired a new stake in shares of Sterling Construction during the fourth quarter worth about $216,000. Finally, Global X Management Co. LLC acquired a new stake in shares of Sterling Construction during the first quarter worth about $233,000. Hedge funds and other institutional investors own 78.70% of the company’s stock.
Shares of Sterling Construction traded up $0.18, hitting $15.58, during midday trading on Tuesday, according to Marketbeat.com. 148,459 shares of the stock were exchanged, compared to its average volume of 160,283. Sterling Construction has a 52-week low of $9.42 and a 52-week high of $18.90. The firm has a market cap of $416.79 million, a P/E ratio of 28.33, a P/E/G ratio of 1.49 and a beta of 0.35. The company has a quick ratio of 1.64, a current ratio of 1.65 and a debt-to-equity ratio of 0.54.
Sterling Construction Company Profile
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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