Sterling Infrastructure (NASDAQ:STRL) Updates FY 2024 Earnings Guidance

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 5.000-5.300 for the period, compared to the consensus EPS estimate of 4.990. The company issued revenue guidance of $2.1 billion-$2.2 billion, compared to the consensus revenue estimate of $2.2 billion.

Sterling Infrastructure Stock Up 4.2 %

NASDAQ STRL traded up $4.22 on Monday, hitting $105.37. 613,014 shares of the company were exchanged, compared to its average volume of 359,644. The company has a market cap of $3.26 billion, a PE ratio of 23.68, a PEG ratio of 1.02 and a beta of 1.21. Sterling Infrastructure has a 12 month low of $41.50 and a 12 month high of $116.36. The stock has a fifty day moving average of $106.23 and a 200-day moving average of $86.22. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.50.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last issued its earnings results on Monday, February 26th. The construction company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.30. The business had revenue of $485.98 million for the quarter, compared to analyst estimates of $526.90 million. Sterling Infrastructure had a net margin of 7.03% and a return on equity of 24.75%. As a group, analysts forecast that Sterling Infrastructure will post 4.98 earnings per share for the current year.

Analysts Set New Price Targets

Separately, DA Davidson reissued a neutral rating and set a $115.00 target price (up from $86.00) on shares of Sterling Infrastructure in a research note on Wednesday, February 28th.

Insider Buying and Selling at Sterling Infrastructure

In other Sterling Infrastructure news, General Counsel Mark D. Wolf sold 4,000 shares of the business's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $108.16, for a total value of $432,640.00. Following the transaction, the general counsel now directly owns 31,048 shares in the company, valued at $3,358,151.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Sterling Infrastructure news, General Counsel Mark D. Wolf sold 4,000 shares of the business's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $108.16, for a total value of $432,640.00. Following the transaction, the general counsel now directly owns 31,048 shares in the company, valued at $3,358,151.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph A. Cutillo sold 40,713 shares of the business's stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $111.74, for a total transaction of $4,549,270.62. Following the completion of the transaction, the chief executive officer now owns 606,455 shares in the company, valued at $67,765,281.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 198,172 shares of company stock valued at $22,019,320. Corporate insiders own 3.70% of the company's stock.

About Sterling Infrastructure

Sterling Infrastructure, Inc engages in the provision of e-infrastructure, transportation, and building solutions primarily in the United States. It operates through three segments: E-Infrastructure Solutions, Transportation Solutions, and Building Solutions. The E-Infrastructure Solutions segment provides site development services for the blue-chip end users in the e-commerce distribution center, data center, manufacturing, warehousing, and power generation sectors.