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

Sterling Infrastructure (NASDAQ:STRL) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 5.600-5.750 for the period, compared to the consensus EPS estimate of 5.240. The company issued revenue guidance of $2.2 billion-$2.2 billion, compared to the consensus revenue estimate of $2.2 billion.

Sterling Infrastructure Stock Up 4.5 %

NASDAQ STRL traded up $4.61 during trading hours on Tuesday, hitting $107.17. 523,227 shares of the company traded hands, compared to its average volume of 370,259. The business’s 50-day moving average is $117.13 and its 200-day moving average is $106.98. Sterling Infrastructure has a twelve month low of $55.45 and a twelve month high of $137.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 21.92, a P/E/G ratio of 1.40 and a beta of 1.19.

Sterling Infrastructure (NASDAQ:STRL) last released its quarterly earnings data on Monday, August 5th. The construction company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.24. The firm had revenue of $582.82 million for the quarter, compared to analyst estimates of $553.70 million. Sterling Infrastructure had a return on equity of 25.06% and a net margin of 7.47%. During the same quarter in the prior year, the company earned $1.27 earnings per share. Sell-side analysts anticipate that Sterling Infrastructure will post 5.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Sterling Infrastructure from a hold rating to a buy rating in a research note on Thursday, August 1st.

Sterling Infrastructure Company Profile

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.