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

Wall Street brokerages expect that Sterling Construction Company, Inc. (NASDAQ:STRL) will report earnings per share (EPS) of $0.32 for the current quarter, Zacks Investment Research 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 reported 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 business is expected to issue its next earnings report on Thursday, August 1st.

On average, analysts expect that Sterling Construction will report full-year earnings of $1.13 per share for the current year, with EPS estimates ranging from $1.11 to $1.14. For the next year, analysts anticipate that the business 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 research analysts that that provide coverage for Sterling Construction.

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

A number of equities research analysts have recently issued reports on STRL shares. BidaskClub upgraded shares of Sterling Construction from a “hold” rating to a “buy” rating in a report on Wednesday, February 20th. ValuEngine downgraded shares of Sterling Construction from a “buy” rating to a “hold” rating in a report on Thursday, March 14th. Finally, Zacks Investment Research downgraded shares of Sterling Construction from a “hold” rating to a “sell” rating in a report on Friday, March 8th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Sterling Construction presently has a consensus rating of “Hold” and a consensus price target of $17.50.

Shares of NASDAQ:STRL traded down $0.07 during trading on Friday, reaching $11.88. The company had a trading volume of 2,591 shares, compared to its average volume of 202,726. The firm has a market cap of $312.02 million, a P/E ratio of 12.77, a P/E/G ratio of 0.97 and a beta of 1.05. 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.

In related news, Director Roger A. Cregg purchased 10,000 shares of Sterling Construction stock in a transaction on Thursday, May 9th. The stock was purchased 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 available through the SEC website. 2.00% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the business. New York State Teachers Retirement System acquired a new position in shares of Sterling Construction in the 4th quarter valued at $26,000. Macquarie Group Ltd. increased its position in shares of Sterling Construction by 111.1% during the 4th 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 in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Sterling Construction during the 1st quarter worth about $58,000. NumerixS Investment Technologies Inc increased its position in shares of Sterling Construction by 333.3% during the 1st quarter. NumerixS Investment Technologies Inc now owns 5,200 shares of the construction company’s stock worth $66,000 after purchasing an additional 4,000 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in shares of Sterling Construction by 728.5% during the 1st 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 in the last quarter. 82.52% 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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