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

Sterling Infrastructure (NASDAQ:STRL) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 5.600-5.750 for the period, compared to the consensus earnings per share estimate of 5.240. The company issued revenue guidance of $2.2 billion-$2.2 billion, compared to the consensus revenue estimate of $2.2 billion.

Sterling Infrastructure Stock Up 4.9 %

Shares of NASDAQ STRL traded up $4.99 during mid-day trading on Tuesday, hitting $107.55. The company had a trading volume of 571,105 shares, compared to its average volume of 370,578. Sterling Infrastructure has a one year low of $55.45 and a one year high of $137.63. The company has a market capitalization of $3.32 billion, a PE ratio of 21.92, a price-to-earnings-growth ratio of 1.40 and a beta of 1.19. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.53. The firm has a 50-day simple moving average of $117.13 and a two-hundred day simple moving average of $106.98.

Sterling Infrastructure (NASDAQ:STRL) last posted its quarterly earnings results on Monday, August 5th. The construction company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.24. Sterling Infrastructure had a return on equity of 25.06% and a net margin of 7.47%. The firm had revenue of $582.82 million during the quarter, compared to the consensus estimate of $553.70 million. During the same period last year, the company earned $1.27 earnings per share. On average, equities analysts expect that Sterling Infrastructure will post 5.25 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Sterling Infrastructure from a hold rating to a buy rating in a research report on Thursday, August 1st.

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.