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

Sterling Infrastructure (NASDAQ:STRL) updated its FY 2024 earnings guidance on Wednesday morning. 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.

Sterling Infrastructure Stock Up 11.1 %

Shares of NASDAQ:STRL traded up $19.30 during midday trading on Friday, hitting $193.61. 482,395 shares of the company’s stock were exchanged, compared to its average volume of 351,137. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.24 and a quick ratio of 1.24. Sterling Infrastructure has a 12 month low of $62.13 and a 12 month high of $194.07. The company has a market cap of $5.95 billion, a PE ratio of 32.70, a price-to-earnings-growth ratio of 1.79 and a beta of 1.15. The stock has a 50 day moving average price of $145.40 and a 200-day moving average price of $126.26.

Sterling Infrastructure (NASDAQ:STRL) last issued its quarterly earnings data on Monday, August 5th. The construction company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.24. Sterling Infrastructure had a return on equity of 25.64% and a net margin of 7.85%. The firm had revenue of $582.82 million during the quarter, compared to analyst estimates of $553.70 million. During the same period in the previous year, the company posted $1.27 EPS. On average, sell-side analysts anticipate that Sterling Infrastructure will post 5.66 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com lowered Sterling Infrastructure from a “buy” rating to a “hold” rating in a research report on Sunday, September 15th.

Insider Buying and Selling

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

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.