Brokerages Expect Sterling Construction Company, Inc. (STRL) Will Post Quarterly Sales of $214.20 Million
Brokerages expect that Sterling Construction Company, Inc. (NASDAQ:STRL) will announce sales of $214.20 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Sterling Construction’s earnings, with the highest sales estimate coming in at $220.50 million and the lowest estimate coming in at $207.90 million. Sterling Construction reported sales of $153.42 million during the same quarter last year, which would suggest a positive year over year growth rate of 39.6%. The company is scheduled to issue its next earnings report on Tuesday, May 1st.
On average, analysts expect that Sterling Construction will report full-year sales of $214.20 million for the current year. For the next year, analysts anticipate that the company 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 calculations are an average based on a survey of analysts that follow Sterling Construction.
Sterling Construction (NASDAQ:STRL) last issued its earnings results on Monday, March 5th. The construction company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). The company had revenue of $253.90 million for the quarter, compared to analyst estimates of $221.53 million. Sterling Construction had a net margin of 1.21% and a return on equity of 10.76%. The company’s quarterly revenue was up 50.9% on a year-over-year basis. During the same period last year, the business earned ($0.25) EPS.
In other Sterling Construction news, COO Con L. Wadsworth acquired 8,000 shares of Sterling Construction stock in a transaction that occurred on Thursday, March 8th. The stock was acquired at an average price of $12.43 per share, with a total value of $99,440.00. Following the purchase, the chief operating officer now owns 68,670 shares in the company, valued at $853,568.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.20% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its stake in shares of Sterling Construction by 17.3% in the 4th quarter. Renaissance Technologies LLC now owns 1,924,700 shares of the construction company’s stock valued at $31,334,000 after purchasing an additional 283,200 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Sterling Construction by 4.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,553,682 shares of the construction company’s stock valued at $23,663,000 after purchasing an additional 70,860 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Sterling Construction by 7.1% in the 2nd quarter. Vanguard Group Inc. now owns 962,759 shares of the construction company’s stock valued at $12,583,000 after purchasing an additional 64,041 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of Sterling Construction in the 4th quarter valued at $14,188,000. Finally, Driehaus Capital Management LLC lifted its stake in shares of Sterling Construction by 52.1% in the 4th quarter. Driehaus Capital Management LLC now owns 399,446 shares of the construction company’s stock valued at $6,503,000 after purchasing an additional 136,827 shares during the last quarter. 74.87% of the stock is owned by institutional investors and hedge funds.
Shares of STRL stock opened at $12.14 on Wednesday. The stock has a market cap of $336.79, a price-to-earnings ratio of 29.61, a price-to-earnings-growth ratio of 1.25 and a beta of 0.34. Sterling Construction has a 52 week low of $8.54 and a 52 week high of $18.90. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.50 and a current ratio of 1.53.
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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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