Sterling Infrastructure (NASDAQ:STRL – Get Rating) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided EPS guidance of $2.95-$3.15 for the period, compared to the consensus EPS estimate of $2.87. The company issued revenue guidance of $1.86 billion-$1.89 billion, compared to the consensus revenue estimate of $1.86 billion.
Sterling Infrastructure Trading Down 1.5 %
NASDAQ STRL traded down $0.39 on Tuesday, hitting $25.04. The company’s stock had a trading volume of 243 shares, compared to its average volume of 108,888. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.02. Sterling Infrastructure has a 1-year low of $20.74 and a 1-year high of $32.14. The company’s 50-day moving average is $23.29 and its 200 day moving average is $25.37. The firm has a market cap of $758.71 million, a PE ratio of 9.82 and a beta of 1.27.
Sterling Infrastructure (NASDAQ:STRL – Get Rating) last announced its quarterly earnings results on Monday, August 1st. The construction company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.14. Sterling Infrastructure had a net margin of 4.33% and a return on equity of 21.04%. As a group, analysts predict that Sterling Infrastructure will post 3.03 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Sterling Infrastructure
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Large investors have recently modified their holdings of the company. Acadian Asset Management LLC acquired a new stake in shares of Sterling Infrastructure during the first quarter worth $38,000. US Bancorp DE grew its holdings in Sterling Infrastructure by 288.9% in the first quarter. US Bancorp DE now owns 3,527 shares of the construction company’s stock worth $94,000 after purchasing an additional 2,620 shares during the period. Bank of Montreal Can grew its holdings in Sterling Infrastructure by 18.6% in the first quarter. Bank of Montreal Can now owns 10,555 shares of the construction company’s stock worth $295,000 after purchasing an additional 1,659 shares during the period. Prudential Financial Inc. acquired a new stake in Sterling Infrastructure in the first quarter worth $363,000. Finally, MetLife Investment Management LLC grew its holdings in Sterling Infrastructure by 54.0% in the first quarter. MetLife Investment Management LLC now owns 15,976 shares of the construction company’s stock worth $428,000 after purchasing an additional 5,603 shares during the period. 79.00% of the stock is currently owned by institutional investors and hedge funds.
Sterling Infrastructure Company Profile
Sterling Infrastructure, Inc engages in the transportation, e-infrastructure, and building solutions primarily in the Southern United States, the Northeastern and Mid-Atlantic United States, the Rocky Mountain states, California, and Hawaii. It undertakes infrastructure and rehabilitation projects for highways, roads, bridges, airports, ports, light rail, water, wastewater, and storm drainage systems for the departments of transportation in various states, regional transit authorities, airport authorities, port authorities, water authorities and railroads.
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