Sterling Infrastructure, Inc. to Post FY2023 Earnings of $4.16 Per Share, DA Davidson Forecasts (NASDAQ:STRL)

Sterling Infrastructure, Inc. (NASDAQ:STRL) – Stock analysts at DA Davidson boosted their FY2023 earnings per share estimates for shares of Sterling Infrastructure in a research note issued to investors on Wednesday, November 8th. DA Davidson analyst B. Thielman now forecasts that the construction company will post earnings per share of $4.16 for the year, up from their prior forecast of $4.10. The consensus estimate for Sterling Infrastructure’s current full-year earnings is $4.10 per share. DA Davidson also issued estimates for Sterling Infrastructure’s Q4 2023 earnings at $0.99 EPS.

Sterling Infrastructure (NASDAQ:STRL) last posted its quarterly earnings data on Monday, August 7th. The construction company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.34. Sterling Infrastructure had a return on equity of 23.46% and a net margin of 6.73%. The firm had revenue of $522.33 million for the quarter, compared to analyst estimates of $491.50 million.

Separately, StockNews.com assumed coverage on Sterling Infrastructure in a research note on Thursday, October 5th. They set a “buy” rating on the stock.

Sterling Infrastructure Price Performance

Sterling Infrastructure stock opened at $65.05 on Thursday. The stock’s fifty day moving average price is $73.95 and its two-hundred day moving average price is $62.46. Sterling Infrastructure has a one year low of $30.19 and a one year high of $84.00. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a market cap of $2.00 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 0.76 and a beta of 1.27.

Institutional Investors Weigh In On Sterling Infrastructure

A number of large investors have recently modified their holdings of STRL. Raymond James & Associates boosted its holdings in shares of Sterling Infrastructure by 54.0% in the 1st quarter. Raymond James & Associates now owns 38,728 shares of the construction company’s stock valued at $1,038,000 after purchasing an additional 13,578 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Sterling Infrastructure by 1.3% during the 1st quarter. Bank of New York Mellon Corp now owns 171,699 shares of the construction company’s stock valued at $4,602,000 after acquiring an additional 2,229 shares in the last quarter. 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 valued at $94,000 after acquiring an additional 2,620 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Sterling Infrastructure by 11.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 19,700 shares of the construction company’s stock valued at $528,000 after acquiring an additional 2,075 shares in the last quarter. Finally, 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 valued at $295,000 after acquiring an additional 1,659 shares in the last quarter. Institutional investors and hedge funds own 80.89% of the company’s stock.

About Sterling Infrastructure

Sterling Infrastructure, Inc engages in the e-infrastructure, transportation, 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.