Sterling Infrastructure (NASDAQ:STRL – Get Free Report) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share guidance of 5.000-5.300 for the period, compared to the consensus earnings per share 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.
Analysts Set New Price Targets
Separately, DA Davidson reaffirmed a neutral rating and set a $115.00 target price (up previously from $86.00) on shares of Sterling Infrastructure in a report on Wednesday, February 28th.
View Our Latest Stock Analysis on STRL
Sterling Infrastructure Trading Up 4.2 %
Sterling Infrastructure (NASDAQ:STRL – Get Free Report) last announced its quarterly earnings data 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 net margin of 7.03% and a return on equity of 24.75%. The firm had revenue of $485.98 million during the quarter, compared to analyst estimates of $526.90 million. On average, sell-side analysts predict that Sterling Infrastructure will post 4.98 EPS for the current fiscal year.
Insider Activity at Sterling Infrastructure
In related news, General Counsel Mark D. Wolf sold 1,500 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $110.90, for a total value of $166,350.00. Following the completion of the sale, the general counsel now owns 29,548 shares of the company’s stock, valued at $3,276,873.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Sterling Infrastructure news, CFO Ronald A. Ballschmiede sold 13,000 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 270,460 shares of the company’s stock, valued at $29,658,643.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Mark D. Wolf sold 1,500 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $110.90, for a total transaction of $166,350.00. Following the transaction, the general counsel now directly owns 29,548 shares of the company’s stock, valued at approximately $3,276,873.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 198,172 shares of company stock valued at $22,019,320. 3.80% of the stock is owned by company insiders.
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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