Sterling Infrastructure (NASDAQ:STRL – Get Free Report) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 5.000-5.300 for the period, compared to the consensus estimate of 4.990. The company issued revenue guidance of $2.1 billion-$2.2 billion, compared to the consensus revenue estimate of $2.2 billion.
Analysts Set New Price Targets
Separately, DA Davidson reaffirmed a neutral rating and set a $115.00 target price (up from $86.00) on shares of Sterling Infrastructure in a report on Wednesday, February 28th.
Get Our Latest Stock Analysis on Sterling Infrastructure
Sterling Infrastructure Price Performance
Sterling Infrastructure (NASDAQ:STRL – Get Free Report) last issued its quarterly earnings results on Monday, February 26th. The construction company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.30. The firm had revenue of $485.98 million for the quarter, compared to analysts’ expectations of $526.90 million. Sterling Infrastructure had a return on equity of 24.75% and a net margin of 7.03%. Research analysts expect that Sterling Infrastructure will post 4.98 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Sterling Infrastructure news, General Counsel Mark D. Wolf sold 4,134 shares of Sterling Infrastructure stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $106.22, for a total transaction of $439,113.48. Following the transaction, the general counsel now owns 35,048 shares of the company’s stock, valued at approximately $3,722,798.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, General Counsel Mark D. Wolf sold 4,000 shares of Sterling Infrastructure stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $108.16, for a total transaction of $432,640.00. Following the completion of the sale, the general counsel now directly owns 31,048 shares in the company, valued at approximately $3,358,151.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Mark D. Wolf sold 4,134 shares of Sterling Infrastructure stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $106.22, for a total value of $439,113.48. Following the sale, the general counsel now owns 35,048 shares of the company’s stock, valued at $3,722,798.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 198,172 shares of company stock valued at $22,019,320. 3.80% of the stock is owned by corporate insiders.
About Sterling Infrastructure
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.
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