Sterling Construction Company Inc (STRL) Expected to Announce Quarterly Sales of $262.20 Million
Wall Street analysts expect that Sterling Construction Company Inc (NASDAQ:STRL) will announce $262.20 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Sterling Construction’s earnings. The highest sales estimate is $265.00 million and the lowest is $259.40 million. Sterling Construction reported sales of $205.63 million in the same quarter last year, which indicates a positive year-over-year growth rate of 27.5%. The business is expected to announce its next quarterly earnings report on Monday, October 30th.
According to Zacks, analysts expect that Sterling Construction will report full year sales of $262.20 million for the current financial year, with estimates ranging from $869.60 million to $877.80 million. For the next financial year, analysts expect that the company will report sales of $991.10 million per share, with estimates ranging from $982.20 million to $1.00 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Sterling Construction.
Sterling Construction (NASDAQ:STRL) last released its earnings results on Wednesday, August 2nd. The construction company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.17. The company had revenue of $264.40 million for the quarter, compared to analyst estimates of $231.42 million. Sterling Construction had a positive return on equity of 0.06% and a negative net margin of 0.33%. Sterling Construction’s quarterly revenue was up 39.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.09 EPS.
STRL has been the subject of a number of research reports. TheStreet cut Sterling Construction from a “b-” rating to a “c” rating in a report on Monday, August 21st. Canaccord Genuity reiterated a “buy” rating and issued a $15.00 price objective on shares of Sterling Construction in a report on Saturday, August 26th. BidaskClub cut Sterling Construction from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Zacks Investment Research cut Sterling Construction from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Finally, DA Davidson upgraded Sterling Construction from a “neutral” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Thursday, June 29th. One investment analyst has rated the stock with a sell rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $14.00.
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Sterling Construction (NASDAQ STRL) traded up 2.29% during mid-day trading on Wednesday, hitting $12.98. The stock had a trading volume of 318,694 shares. Sterling Construction has a 52 week low of $6.13 and a 52 week high of $14.93. The company’s 50 day moving average is $11.48 and its 200-day moving average is $10.57. The stock’s market capitalization is $350.85 million.
In other news, Director Milton L. Scott sold 15,000 shares of the company’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $10.63, for a total value of $159,450.00. Following the completion of the transaction, the director now directly owns 45,307 shares in the company, valued at approximately $481,613.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.20% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Campbell & CO Investment Adviser LLC purchased a new stake in Sterling Construction during the 2nd quarter valued at about $143,000. Voya Investment Management LLC purchased a new stake in Sterling Construction during the 2nd quarter valued at about $144,000. Highbridge Capital Management LLC purchased a new stake in Sterling Construction during the 1st quarter valued at about $150,000. Thompson Davis & CO. Inc. purchased a new stake in Sterling Construction during the 2nd quarter valued at about $150,000. Finally, Citadel Advisors LLC boosted its holdings in Sterling Construction by 63.6% during the 1st quarter. Citadel Advisors LLC now owns 17,205 shares of the construction company’s stock valued at $159,000 after acquiring an additional 6,691 shares during the period. Institutional investors own 78.39% of the company’s stock.
About Sterling Construction
Sterling Construction Company, Inc is a heavy civil construction company engaged in the building and reconstruction of transportation and water infrastructure projects in Texas, Utah, Nevada, Arizona, California, Hawaii and other states. The Company’s transportation infrastructure projects include highways, roads, bridges, airfields, ports and light rail.
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