Sterling Infrastructure (NASDAQ:STRL – Get Free Report) 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.
Analyst Upgrades and Downgrades
Separately, DA Davidson restated a neutral rating and issued a $115.00 target price (up previously from $86.00) on shares of Sterling Infrastructure in a research note on Wednesday, February 28th.
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Sterling Infrastructure Price Performance
Sterling Infrastructure (NASDAQ:STRL – Get Free Report) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $526.90 million. As a group, equities analysts anticipate that Sterling Infrastructure will post 4.98 earnings per share for the current 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 completion of the sale, the chief executive officer now owns 695,245 shares of the company’s stock, valued at $75,580,083.95. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Sterling Infrastructure news, CEO Joseph A. Cutillo sold 33,214 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $108.71, for a total transaction of $3,610,693.94. Following the completion of the transaction, the chief executive officer now owns 695,245 shares of the company’s stock, valued at $75,580,083.95. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Ronald A. Ballschmiede sold 13,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $109.66, for a total transaction of $1,425,580.00. Following the completion of the sale, the chief financial officer now directly owns 270,460 shares in the company, valued at $29,658,643.60. The disclosure for this sale can be found here. Insiders sold 198,172 shares of company stock worth $22,019,320 in the last 90 days. Insiders own 3.80% of the company’s stock.
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.
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