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

Sterling Infrastructure (NASDAQ:STRL) issued an update on 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.

Analyst Upgrades and Downgrades

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

Sterling Infrastructure Stock Up 11.1 %

STRL stock traded up $19.30 during mid-day trading on Friday, hitting $193.61. 482,395 shares of the company were exchanged, compared to its average volume of 351,137. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.24 and a current ratio of 1.24. Sterling Infrastructure has a 1-year low of $62.13 and a 1-year high of $194.07. The firm’s 50 day simple moving average is $145.40 and its 200 day simple moving average is $126.26. The firm has a market cap of $5.95 billion, a P/E ratio of 32.70, a P/E/G ratio of 1.79 and a beta of 1.15.

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

Insider Buying and Selling

In other Sterling Infrastructure news, EVP Ronald A. Ballschmiede sold 18,700 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $143.59, for a total transaction of $2,685,133.00. Following the completion of the transaction, the executive vice president now owns 248,471 shares in the company, valued at approximately $35,677,950.89. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.70% of the company’s stock.

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.