Brokerages Anticipate Sterling Construction Company, Inc. (NASDAQ:STRL) Will Post Earnings of $0.32 Per Share

Wall Street brokerages expect that Sterling Construction Company, Inc. (NASDAQ:STRL) will announce $0.32 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Sterling Construction’s earnings. The lowest EPS estimate is $0.30 and the highest is $0.34. Sterling Construction posted earnings per share of $0.30 during the same quarter last year, which suggests a positive year-over-year growth rate of 6.7%. The firm is expected to issue its next quarterly earnings results on Thursday, August 1st.

On average, analysts expect that Sterling Construction will report full year earnings of $1.13 per share for the current financial year, with EPS estimates ranging from $1.11 to $1.14. For the next financial year, analysts forecast that the firm will post earnings of $1.47 per share, with EPS estimates ranging from $1.40 to $1.53. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Sterling Construction.

Sterling Construction (NASDAQ:STRL) last posted its quarterly earnings results on Monday, May 6th. The construction company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.06). Sterling Construction had a return on equity of 14.67% and a net margin of 2.36%. The firm had revenue of $223.90 million for the quarter, compared to analyst estimates of $225.85 million. During the same period last year, the company posted $0.09 earnings per share. The firm’s quarterly revenue was up .6% compared to the same quarter last year.

STRL has been the topic of a number of research reports. BidaskClub downgraded Weyco Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 13th. Zacks Investment Research downgraded Haynes International from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th. Finally, ValuEngine downgraded Verso from a “hold” rating to a “sell” rating in a research note on Thursday, May 23rd.

STRL stock traded up $0.04 during trading on Tuesday, reaching $12.13. 98,441 shares of the stock were exchanged, compared to its average volume of 104,535. The business’s 50 day simple moving average is $13.18. Sterling Construction has a twelve month low of $9.71 and a twelve month high of $16.07. The company has a current ratio of 1.66, a quick ratio of 1.64 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $320.43 million, a price-to-earnings ratio of 13.04, a P/E/G ratio of 0.98 and a beta of 1.12.

In other news, Director Roger A. Cregg purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were acquired at an average cost of $11.94 per share, with a total value of $119,400.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.00% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the company. Macquarie Group Ltd. raised its stake in shares of Sterling Construction by 111.1% in the fourth quarter. Macquarie Group Ltd. now owns 3,800 shares of the construction company’s stock worth $41,000 after purchasing an additional 2,000 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Sterling Construction in the first quarter worth approximately $58,000. BNP Paribas Arbitrage SA raised its stake in shares of Sterling Construction by 728.5% in the first quarter. BNP Paribas Arbitrage SA now owns 5,559 shares of the construction company’s stock worth $70,000 after purchasing an additional 4,888 shares during the last quarter. Citigroup Inc. raised its stake in shares of Sterling Construction by 17.6% in the fourth quarter. Citigroup Inc. now owns 8,617 shares of the construction company’s stock worth $94,000 after purchasing an additional 1,292 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its stake in shares of Sterling Construction by 424.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 8,888 shares of the construction company’s stock worth $97,000 after purchasing an additional 7,194 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

About Sterling Construction

Sterling Construction Company, Inc, together with its subsidiaries, operates as a heavy civil and residential construction company in Arizona, California, Colorado, Hawaii, Nevada, Texas, Utah, and other states in the United States. The company's Heavy Civil Construction segment undertakes heavy civil construction projects, including highways, roads, bridges, airfields, ports, light rail, water, wastewater and storm drainage systems, foundations for multi-family homes, commercial concrete projects, and parking structures.

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