Construction Partners (NASDAQ:ROAD) Releases Earnings Results, Beats Expectations By $0.05 EPS

Construction Partners (NASDAQ:ROAD - Get Free Report) released its quarterly earnings data on Friday. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.05, Briefing.com reports. The firm had revenue of $371.43 million for the quarter, compared to analyst estimates of $363.12 million. Construction Partners had a net margin of 3.52% and a return on equity of 11.56%. The company's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.11) EPS. Construction Partners updated its FY 2024 guidance to EPS.

Construction Partners Stock Performance

ROAD stock traded up $1.63 during midday trading on Friday, hitting $55.44. 697,144 shares of the company traded hands, compared to its average volume of 383,225. Construction Partners has a twelve month low of $27.33 and a twelve month high of $58.65. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of 47.38, a price-to-earnings-growth ratio of 1.39 and a beta of 0.68. The company has a quick ratio of 1.39, a current ratio of 1.75 and a debt-to-equity ratio of 0.82. The business has a 50 day simple moving average of $53.39 and a 200-day simple moving average of $46.81.

Analysts Set New Price Targets

ROAD has been the topic of a number of recent research reports. Stifel Nicolaus boosted their target price on Construction Partners from $51.00 to $57.00 and gave the company a "buy" rating in a research note on Monday, February 12th. Sidoti cut shares of Construction Partners from a "buy" rating to a "neutral" rating and set a $59.00 target price for the company. in a research note on Thursday, March 28th. Finally, Robert W. Baird downgraded shares of Construction Partners from an "outperform" rating to a "neutral" rating and raised their price target for the company from $46.00 to $50.00 in a report on Monday, February 12th. Two research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Construction Partners currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.00.

About Construction Partners

Construction Partners, Inc, a civil infrastructure company, constructs and maintains roadways in Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee. The company provides various products and services to public and private infrastructure projects, such as highways, roads, bridges, airports, and commercial and residential developments.