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

Sterling Infrastructure (NASDAQ:STRL) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 5.000-5.300 for the period, compared to the consensus 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.

Wall Street Analyst Weigh In

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

Sterling Infrastructure Price Performance

Shares of Sterling Infrastructure stock opened at $105.37 on Tuesday. The stock has a 50 day moving average of $106.23 and a 200 day moving average of $86.22. Sterling Infrastructure has a 12 month low of $41.50 and a 12 month high of $116.36. The firm 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. 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) last issued its quarterly earnings data on Monday, February 26th. The construction company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.30. Sterling Infrastructure had a return on equity of 24.75% and a net margin of 7.03%. The business had revenue of $485.98 million for the quarter, compared to the consensus estimate of $526.90 million. On average, research analysts expect that Sterling Infrastructure will post 4.98 EPS for the current fiscal year.

Insider Transactions at Sterling Infrastructure

In other Sterling Infrastructure news, CEO Joseph A. Cutillo sold 33,214 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $108.71, for a total transaction of $3,610,693.94. Following the transaction, the chief executive officer now directly owns 695,245 shares in the company, valued at approximately $75,580,083.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Sterling Infrastructure news, CEO Joseph A. Cutillo sold 33,214 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $108.71, for a total transaction of $3,610,693.94. Following the transaction, the chief executive officer now directly owns 695,245 shares in the company, valued at approximately $75,580,083.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Mark D. Wolf sold 1,500 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $110.90, for a total value of $166,350.00. Following the transaction, the general counsel now owns 29,548 shares in the company, valued at $3,276,873.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 198,172 shares of company stock worth $22,019,320. 3.80% of the stock is currently owned by company insiders.

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.