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

Sterling Infrastructure (NASDAQ:STRL) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 5.850-6.000 for the period, compared to the consensus EPS 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 cut shares of Sterling Infrastructure from a “buy” rating to a “hold” rating in a research note on Sunday, September 15th.

Sterling Infrastructure Trading Up 11.1 %

NASDAQ:STRL traded up $19.30 during mid-day trading on Friday, hitting $193.61. 482,395 shares of the stock traded hands, compared to its average volume of 351,137. 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 52 week low of $62.13 and a 52 week high of $194.07. The firm’s 50 day moving average is $145.40 and its two-hundred day moving average is $126.26. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.44.

Sterling Infrastructure (NASDAQ:STRL) last issued its quarterly earnings results on Monday, August 5th. The construction company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.43 by $0.24. The company had revenue of $582.82 million for the quarter, compared to the consensus estimate of $553.70 million. Sterling Infrastructure had a net margin of 7.85% and a return on equity of 25.64%. During the same period in the prior year, the firm posted $1.27 EPS. On average, equities research analysts predict that Sterling Infrastructure will post 5.66 earnings per share for the current year.

Insider Activity at Sterling Infrastructure

In other Sterling Infrastructure news, EVP Ronald A. Ballschmiede sold 18,700 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $143.59, for a total value of $2,685,133.00. Following the transaction, the executive vice president now directly owns 248,471 shares in the company, valued at $35,677,950.89. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.70% of the stock is currently owned by 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.