Sterling Infrastructure (NASDAQ:STRL) Issues Quarterly Earnings Results

Key Points

• Sterling Infrastructure exceeded quarterly expectations, reporting adjusted EPS of $7.58 versus the $6.20 consensus and revenue of $1.56 billion versus estimates of $1.19 billion. Net margin was 12.55%, while return on equity reached 40.12%.
• Shares rose $21.37 to $388.87 in midday trading, with volume more than double the average. The stock has a $11.90 billion market capitalization and trades at a P/E ratio of 28.04.
• Analyst sentiment remains favorable, with six Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $733.17.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) released its earnings results on Wednesday. The construction company reported $7.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.20 by $1.38, FiscalAI reports. Sterling Infrastructure had a net margin of 12.55% and a return on equity of 40.12%. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.19 billion.

Sterling Infrastructure Stock Performance

Shares of STRL stock traded up $21.37 during midday trading on Wednesday, hitting $388.87. 1,366,566 shares of the company were exchanged, compared to its average volume of 635,253. The firm has a market capitalization of $11.90 billion, a P/E ratio of 28.04, a PEG ratio of 1.24 and a beta of 1.86. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.11 and a current ratio of 1.11. Sterling Infrastructure has a 52 week low of $281.58 and a 52 week high of $1,005.68. The firm's 50 day moving average price is $482.56 and its two-hundred day moving average price is $548.85.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. DA Davidson initiated coverage on Sterling Infrastructure in a report on Friday, August 21st. They issued a "buy" rating and a $700.00 price objective for the company. Stifel Nicolaus cut their price target on shares of Sterling Infrastructure from $804.00 to $742.00 and set a "buy" rating on the stock in a research report on Thursday, October 8th. Wall Street Zen downgraded shares of Sterling Infrastructure from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 5th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $742.00 target price on shares of Sterling Infrastructure in a report on Wednesday, October 14th. Finally, KeyCorp boosted their price target on shares of Sterling Infrastructure from $754.00 to $755.00 and gave the company an "overweight" rating in a report on Thursday, October 15th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $733.17.

About Sterling Infrastructure

Sterling Infrastructure, Inc is a U.S.-based infrastructure services company that provides construction and specialty contracting solutions through three principal business segments: E-Infrastructure Solutions, Transportation Solutions and Building Solutions.

Its E-Infrastructure Solutions segment supports the development of data centers, advanced manufacturing facilities, energy and power infrastructure, and other large-scale industrial projects. Transportation Solutions provides construction and rehabilitation services for highways, roads, bridges, airports, rail and transit systems, and related public infrastructure.

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