Sterling Construction Company, Inc. (NASDAQ:STRL) – Equities researchers at KeyCorp issued their Q1 2018 earnings per share estimates for Sterling Construction in a report released on Tuesday. KeyCorp analyst S. Eastman anticipates that the construction company will earn $0.13 per share for the quarter. KeyCorp also issued estimates for Sterling Construction’s Q2 2018 earnings at $0.20 EPS, Q3 2018 earnings at $0.34 EPS, FY2018 earnings at $0.90 EPS and FY2019 earnings at $1.20 EPS.
STRL has been the subject of several other reports. ValuEngine downgraded shares of Sterling Construction from a “buy” rating to a “hold” rating in a research note on Wednesday. BidaskClub downgraded shares of Sterling Construction from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 5th. Zacks Investment Research cut shares of Sterling Construction from a “strong-buy” rating to a “hold” rating in a report on Friday, January 5th. Finally, TheStreet cut shares of Sterling Construction from a “b-” rating to a “c” rating in a report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $17.00.
Sterling Construction (NASDAQ:STRL) last announced its earnings results on Monday, March 5th. The construction company reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.02). The firm had revenue of $253.90 million during the quarter, compared to analyst estimates of $221.53 million. Sterling Construction had a net margin of 1.21% and a return on equity of 10.76%. Sterling Construction’s revenue was up 50.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.25) earnings per share.
In related news, COO Con L. Wadsworth purchased 8,000 shares of the firm’s stock in a transaction on Thursday, March 8th. The stock was acquired at an average price of $12.43 per share, with a total value of $99,440.00. Following the completion of the acquisition, the chief operating officer now owns 68,670 shares in the company, valued at approximately $853,568.10. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Maarten D. Hemsley sold 29,800 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $17.32, for a total transaction of $516,136.00. The disclosure for this sale can be found here. Company insiders own 5.20% of the company’s stock.
Several institutional investors have recently modified their holdings of STRL. Teachers Advisors LLC purchased a new position in shares of Sterling Construction during the second quarter worth $605,000. Ameriprise Financial Inc. purchased a new position in shares of Sterling Construction during the second quarter worth $306,000. New York State Common Retirement Fund purchased a new position in shares of Sterling Construction during the second quarter worth $361,000. Northern Trust Corp raised its holdings in shares of Sterling Construction by 382.8% during the second quarter. Northern Trust Corp now owns 286,088 shares of the construction company’s stock worth $3,739,000 after purchasing an additional 226,832 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Sterling Construction by 7.1% during the second quarter. Vanguard Group Inc. now owns 962,759 shares of the construction company’s stock worth $12,583,000 after purchasing an additional 64,041 shares during the last quarter. 74.87% of the stock is owned by hedge funds and other institutional investors.
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About Sterling Construction
Sterling Construction Company, Inc is a heavy civil construction company engaged in the building and reconstruction of transportation and water infrastructure projects in Texas, Utah, Nevada, Arizona, California, Hawaii and other states. The Company’s transportation infrastructure projects include highways, roads, bridges, airfields, ports and light rail.
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