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

Sterling Infrastructure (NASDAQ:STRL) issued an update on its FY 2024 earnings guidance on Wednesday morning. 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.

Analyst Upgrades and Downgrades

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

Sterling Infrastructure Stock Performance

NASDAQ STRL traded up $19.30 during trading on Friday, hitting $193.61. 482,395 shares of the company’s stock traded hands, compared to its average volume of 351,137. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of 32.70, a PEG ratio of 1.79 and a beta of 1.15. Sterling Infrastructure has a 12-month low of $62.13 and a 12-month high of $194.07. The business has a 50 day moving average of $145.40 and a 200-day moving average of $126.26.

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

Insiders Place Their Bets

In other news, EVP Ronald A. Ballschmiede sold 18,700 shares of Sterling Infrastructure stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $143.59, for a total value of $2,685,133.00. Following the completion of the transaction, the executive vice president now directly owns 248,471 shares in the company, valued at approximately $35,677,950.89. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.70% 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.