What is DA Davidson's Estimate for STRL FY2024 Earnings?

Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) - DA Davidson increased their FY2024 EPS estimates for Sterling Infrastructure in a research note issued to investors on Friday, November 8th. DA Davidson analyst B. Thielman now expects that the construction company will post earnings of $5.93 per share 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 - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The construction company reported $1.97 earnings per share for the quarter, beating analysts' consensus estimates of $1.68 by $0.29. Sterling Infrastructure had a net margin of 8.77% and a return on equity of 28.35%. The business had revenue of $593.74 million during the quarter, compared to the consensus estimate of $599.90 million. During the same quarter in the prior year, the firm earned $1.26 EPS.

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

Sterling Infrastructure Stock Performance

Shares of NASDAQ STRL traded up $0.96 during mid-day trading on Monday, hitting $194.57. The company had a trading volume of 295,595 shares, compared to its average volume of 350,883. Sterling Infrastructure has a 12 month low of $62.13 and a 12 month high of $200.81. The stock has a market cap of $5.98 billion, a price-to-earnings ratio of 32.76, a PEG ratio of 2.18 and a beta of 1.15. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.24 and a quick ratio of 1.24. The firm's 50 day simple moving average is $145.40 and its two-hundred day simple moving average is $126.62.

Insider Activity

In other Sterling Infrastructure news, EVP Ronald A. Ballschmiede sold 18,700 shares of the business's stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $143.59, for a total value of $2,685,133.00. Following the sale, the executive vice president now directly owns 248,471 shares in the company, valued at approximately $35,677,950.89. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.70% of the company's stock.

Institutional Investors Weigh In On Sterling Infrastructure

Institutional investors and hedge funds have recently modified their holdings of the stock. Intech Investment Management LLC purchased a new position in shares of Sterling Infrastructure in the third quarter worth approximately $1,513,000. Advisors Asset Management Inc. grew its position in Sterling Infrastructure by 2.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 50,934 shares of the construction company's stock worth $7,386,000 after purchasing an additional 991 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Sterling Infrastructure by 9.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 122,711 shares of the construction company's stock valued at $17,796,000 after purchasing an additional 10,097 shares during the period. Commerce Bank lifted its holdings in shares of Sterling Infrastructure by 29.5% in the third quarter. Commerce Bank now owns 2,986 shares of the construction company's stock valued at $433,000 after purchasing an additional 680 shares in the last quarter. Finally, Segall Bryant & Hamill LLC boosted its position in shares of Sterling Infrastructure by 44.2% in the third quarter. Segall Bryant & Hamill LLC now owns 99,262 shares of the construction company's stock worth $14,395,000 after buying an additional 30,437 shares during the period. 80.95% of the stock is owned by institutional investors and hedge funds.

Sterling Infrastructure Company Profile

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.