What is DA Davidson’s Forecast for STRL FY2024 Earnings?

Sterling Infrastructure, Inc. (NASDAQ:STRL) – Research analysts at DA Davidson lifted their FY2024 earnings per share (EPS) estimates for Sterling Infrastructure in a report issued on Friday, November 8th. DA Davidson analyst B. Thielman now anticipates that the construction company will post earnings per share of $5.93 for the year, up from their previous forecast of $5.69. The consensus estimate for Sterling Infrastructure’s current full-year earnings is $5.96 per share. DA Davidson also issued estimates for Sterling Infrastructure’s Q4 2024 earnings at $1.29 EPS.

Sterling Infrastructure (NASDAQ:STRL) last released its earnings results on Wednesday, November 6th. The construction company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.29. The company had revenue of $593.74 million during the quarter, compared to the consensus estimate of $599.90 million. Sterling Infrastructure had a return on equity of 28.35% and a net margin of 8.77%. During the same period in the previous year, the company posted $1.26 EPS.

Separately, StockNews.com downgraded shares of Sterling Infrastructure from a “buy” rating to a “hold” rating in a research note on Sunday, September 15th.

Sterling Infrastructure Trading Down 1.6 %

Shares of STRL stock opened at $191.50 on Monday. The stock has a market capitalization of $5.89 billion, a P/E ratio of 32.35, a price-to-earnings-growth ratio of 2.18 and a beta of 1.15. Sterling Infrastructure has a fifty-two week low of $62.13 and a fifty-two week high of $201.27. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.24 and a current ratio of 1.24. The company has a 50 day moving average price of $148.59 and a 200 day moving average price of $127.87.

Institutional Trading of Sterling Infrastructure

A number of institutional investors have recently bought and sold shares of STRL. Capital Performance Advisors LLP acquired a new stake in shares of Sterling Infrastructure during the 3rd quarter worth about $26,000. Huntington National Bank increased its stake in Sterling Infrastructure by 21,300.0% in the third quarter. Huntington National Bank now owns 214 shares of the construction company’s stock valued at $31,000 after purchasing an additional 213 shares during the last quarter. Hantz Financial Services Inc. acquired a new stake in Sterling Infrastructure during the second quarter worth approximately $30,000. Nisa Investment Advisors LLC lifted its position in shares of Sterling Infrastructure by 391.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 275 shares of the construction company’s stock worth $33,000 after buying an additional 219 shares during the last quarter. Finally, Crewe Advisors LLC boosted its holdings in shares of Sterling Infrastructure by 85.4% in the 2nd quarter. Crewe Advisors LLC now owns 293 shares of the construction company’s stock valued at $35,000 after buying an additional 135 shares in the last quarter. 80.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Sterling Infrastructure news, EVP Ronald A. Ballschmiede sold 18,700 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $143.59, for a total transaction of $2,685,133.00. Following the completion of the transaction, the executive vice president now owns 248,471 shares in the company, valued at $35,677,950.89. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company 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.