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

Sterling Infrastructure (NASDAQ:STRL) 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 Trading Up 4.2 %

Shares of NASDAQ:STRL opened at $105.37 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.25 and a current ratio of 1.25. The stock’s 50-day moving average is $106.23 and its 200-day moving average is $86.22. The company has a market cap of $3.26 billion, a P/E ratio of 23.68, a P/E/G ratio of 1.02 and a beta of 1.21. Sterling Infrastructure has a 52-week low of $41.50 and a 52-week high of $116.36.

Sterling Infrastructure (NASDAQ:STRL) last posted its quarterly 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. Sterling Infrastructure had a net margin of 7.03% and a return on equity of 24.75%. The company had revenue of $485.98 million for the quarter, compared to analyst estimates of $526.90 million. Equities research analysts predict that Sterling Infrastructure will post 4.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reiterated a neutral rating and set a $115.00 price objective (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, CFO Ronald A. Ballschmiede sold 3,289 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $113.52, for a total value of $373,367.28. Following the transaction, the chief financial officer now directly owns 267,171 shares of the company’s stock, valued at $30,329,251.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Joseph A. Cutillo sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $109.78, for a total transaction of $2,195,600.00. Following the completion of the transaction, the chief executive officer now owns 448,133 shares in the company, valued at $49,196,040.74. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Ronald A. Ballschmiede sold 3,289 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $113.52, for a total transaction of $373,367.28. Following the completion of the sale, the chief financial officer now owns 267,171 shares in the company, valued at $30,329,251.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 198,172 shares of company stock worth $22,019,320. Company insiders own 3.80% 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.