Sterling Infrastructure (NASDAQ:STRL) Releases FY 2022 Earnings Guidance

Sterling Infrastructure (NASDAQ:STRLGet Rating) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $2.95-$3.15 for the period, compared to the consensus estimate of $2.87. The company issued revenue guidance of $1.86 billion-$1.89 billion, compared to the consensus revenue estimate of $1.86 billion.

Sterling Infrastructure Trading Up 1.6 %

Shares of STRL stock traded up $0.39 during trading hours on Friday, reaching $25.23. 84,351 shares of the stock traded hands, compared to its average volume of 172,153. Sterling Infrastructure has a 1-year low of $20.74 and a 1-year high of $32.14. The business has a fifty day moving average price of $23.28 and a 200 day moving average price of $25.41. The company has a quick ratio of 1.28, a current ratio of 1.32 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $763.54 million, a PE ratio of 9.74 and a beta of 1.27.

Sterling Infrastructure (NASDAQ:STRLGet Rating) last released its quarterly earnings results on Monday, August 1st. The construction company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.14. Sterling Infrastructure had a net margin of 4.33% and a return on equity of 21.04%. On average, equities research analysts forecast that Sterling Infrastructure will post 3.01 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC bought a new stake in shares of Sterling Infrastructure during the 1st quarter worth $38,000. US Bancorp DE boosted its holdings in shares of Sterling Infrastructure by 288.9% during the 1st quarter. US Bancorp DE now owns 3,527 shares of the construction company’s stock worth $94,000 after buying an additional 2,620 shares during the period. Bank of Montreal Can boosted its holdings in shares of Sterling Infrastructure by 18.6% during the 1st quarter. Bank of Montreal Can now owns 10,555 shares of the construction company’s stock worth $295,000 after buying an additional 1,659 shares during the period. Prudential Financial Inc. bought a new stake in shares of Sterling Infrastructure during the 1st quarter worth $363,000. Finally, MetLife Investment Management LLC boosted its holdings in shares of Sterling Infrastructure by 54.0% during the 1st quarter. MetLife Investment Management LLC now owns 15,976 shares of the construction company’s stock worth $428,000 after buying an additional 5,603 shares during the period. Institutional investors and hedge funds own 79.00% of the company’s stock.

Sterling Infrastructure Company Profile

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Sterling Infrastructure, Inc engages in the transportation, e-infrastructure, and building solutions primarily in the Southern United States, the Northeastern and Mid-Atlantic United States, the Rocky Mountain states, California, and Hawaii. It undertakes infrastructure and rehabilitation projects for highways, roads, bridges, airports, ports, light rail, water, wastewater, and storm drainage systems for the departments of transportation in various states, regional transit authorities, airport authorities, port authorities, water authorities and railroads.

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