Sterling Construction (NASDAQ:STRL) announced its quarterly earnings results on Tuesday. The construction company reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.02), Fidelity Earnings reports. Sterling Construction had a net margin of 1.99% and a return on equity of 13.94%. The business had revenue of $291.30 million during the quarter, compared to the consensus estimate of $301.90 million. During the same period in the previous year, the business posted $0.26 EPS. Sterling Construction’s revenue was down 4.2% compared to the same quarter last year.
Shares of NASDAQ STRL opened at $12.16 on Wednesday. Sterling Construction has a fifty-two week low of $10.74 and a fifty-two week high of $18.90. The stock has a market capitalization of $323.68 million, a P/E ratio of 22.11, a price-to-earnings-growth ratio of 1.16 and a beta of 0.70. The company has a current ratio of 1.65, a quick ratio of 1.64 and a debt-to-equity ratio of 0.54.
A number of hedge funds and other institutional investors have recently made changes to their positions in STRL. Advisory Services Network LLC purchased a new position in shares of Sterling Construction during the third quarter valued at about $110,000. Raymond James Financial Services Advisors Inc. purchased a new position in Sterling Construction during the 2nd quarter valued at about $135,000. Capital Fund Management S.A. increased its position in Sterling Construction by 28.4% during the 2nd quarter. Capital Fund Management S.A. now owns 22,600 shares of the construction company’s stock valued at $294,000 after purchasing an additional 5,000 shares during the period. Global X Management Co LLC increased its position in Sterling Construction by 17.1% during the 2nd quarter. Global X Management Co LLC now owns 23,795 shares of the construction company’s stock valued at $310,000 after purchasing an additional 3,476 shares during the period. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Sterling Construction during the 2nd quarter valued at about $324,000. 76.05% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently weighed in on STRL. BidaskClub raised shares of Sterling Construction from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. Zacks Investment Research cut shares of Sterling Construction from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. ValuEngine cut shares of Sterling Construction from a “buy” rating to a “hold” rating in a research report on Friday, September 7th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $20.00 price target on shares of Sterling Construction in a research report on Friday, August 10th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Sterling Construction presently has a consensus rating of “Hold” and a consensus price target of $17.50.
About Sterling Construction
Sterling Construction Company, Inc, together with its subsidiaries, operates as a heavy civil and residential construction company in Arizona, California, Colorado, Hawaii, Nevada, Texas, Utah, and other states in the United States. The company's Heavy Civil Construction segment undertakes heavy civil construction projects, including highways, roads, bridges, airfields, ports, light rail, water, wastewater and storm drainage systems, foundations for multi-family homes, commercial concrete projects, and parking structures.
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