Sterling Infrastructure (NASDAQ:STRL) Releases Earnings Results, Beats Expectations By $1.38 EPS

Sterling Infrastructure (NASDAQ:STRL) released its earnings results on Wednesday. The construction company reported $7.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.20 by $1.38, FiscalAI reports. Sterling Infrastructure had a return on equity of 40.12% and a net margin of 12.55%. The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.19 billion.

Sterling Infrastructure Price Performance

Sterling Infrastructure stock traded up $21.37 during mid-day trading on Wednesday, reaching $388.87. The company had a trading volume of 1,366,566 shares, compared to its average volume of 635,253. The business has a fifty day simple moving average of $482.56 and a 200 day simple moving average of $548.85. The company has a market cap of $11.90 billion, a P/E ratio of 28.04, a P/E/G ratio of 1.24 and a beta of 1.86. Sterling Infrastructure has a fifty-two week low of $281.58 and a fifty-two week high of $1,005.68. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.19.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on STRL shares. KeyCorp increased their price objective on shares of Sterling Infrastructure from $754.00 to $755.00 and gave the stock an “overweight” rating in a research note on Thursday, October 15th. Stifel Nicolaus cut their price target on shares of Sterling Infrastructure from $804.00 to $742.00 and set a “buy” rating for the company in a report on Thursday, October 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $742.00 price target on shares of Sterling Infrastructure in a research report on Wednesday, October 14th. DA Davidson assumed coverage on shares of Sterling Infrastructure in a research note on Friday, August 21st. They issued a “buy” rating and a $700.00 price objective on the stock. Finally, Weiss Ratings downgraded shares of Sterling Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, September 9th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Sterling Infrastructure currently has a consensus rating of “Moderate Buy” and a consensus price target of $733.17.

About Sterling Infrastructure

Sterling Infrastructure, Inc is a U.S.-based infrastructure services company that provides construction and specialty contracting solutions through three principal business segments: E-Infrastructure Solutions, Transportation Solutions and Building Solutions.

Its E-Infrastructure Solutions segment supports the development of data centers, advanced manufacturing facilities, energy and power infrastructure, and other large-scale industrial projects. Transportation Solutions provides construction and rehabilitation services for highways, roads, bridges, airports, rail and transit systems, and related public infrastructure.