Sterling Infrastructure (NASDAQ:STRL) Updates FY 2024 Earnings Guidance

Sterling Infrastructure (NASDAQ:STRL) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 5.850-6.000 for the period, compared to the consensus earnings per share estimate of 5.670. The company issued revenue guidance of $2.2 billion-$2.2 billion, compared to the consensus revenue estimate of $2.2 billion.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Sterling Infrastructure from a “buy” rating to a “hold” rating in a research note on Sunday, September 15th.

Sterling Infrastructure Stock Performance

Shares of NASDAQ STRL traded up $18.20 during trading on Wednesday, reaching $175.42. 528,997 shares of the stock traded hands, compared to its average volume of 348,313. The stock has a market capitalization of $5.39 billion, a P/E ratio of 30.18, a price-to-earnings-growth ratio of 1.81 and a beta of 1.15. Sterling Infrastructure has a 52-week low of $55.45 and a 52-week high of $176.22. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.24 and a quick ratio of 1.24. The company has a 50-day moving average of $141.64 and a 200-day moving average of $124.90.

Sterling Infrastructure (NASDAQ:STRL) last released its quarterly earnings data on Monday, August 5th. The construction company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.24. The company had revenue of $582.82 million during the quarter, compared to analyst estimates of $553.70 million. Sterling Infrastructure had a net margin of 7.85% and a return on equity of 25.64%. During the same period last year, the business earned $1.27 earnings per share. Analysts forecast that Sterling Infrastructure will post 5.66 EPS for the current fiscal year.

Insider Transactions at Sterling Infrastructure

In related news, EVP Ronald A. Ballschmiede sold 18,700 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $143.59, for a total transaction of $2,685,133.00. Following the completion of the transaction, the executive vice president now owns 248,471 shares in the company, valued at approximately $35,677,950.89. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.80% of the company’s stock.

Sterling Infrastructure Company Profile

Sterling Infrastructure, Inc engages in the provision of e-infrastructure, transportation, and building solutions primarily in the United States. It operates through three segments: E-Infrastructure Solutions, Transportation Solutions, and Building Solutions. The E-Infrastructure Solutions segment provides site development services for the blue-chip end users in the e-commerce distribution center, data center, manufacturing, warehousing, and power generation sectors.