Sterling Construction (NASDAQ:STRL) released its earnings results on Monday. The construction company reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.03), Briefing.com reports. Sterling Construction had a return on equity of 14.67% and a net margin of 2.36%. The firm had revenue of $264.09 million during the quarter, compared to analysts’ expectations of $280.00 million. During the same period in the prior year, the business earned $0.30 earnings per share. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. Sterling Construction updated its FY 2019 guidance to EPS.
Shares of NASDAQ STRL traded down $0.78 during mid-day trading on Tuesday, hitting $11.10. The company had a trading volume of 9,597 shares, compared to its average volume of 101,361. The firm has a market capitalization of $322.02 million, a P/E ratio of 11.91, a price-to-earnings-growth ratio of 0.99 and a beta of 1.10. Sterling Construction has a 1 year low of $9.71 and a 1 year high of $16.07. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.64. The business’s 50-day simple moving average is $13.04.
STRL has been the subject of a number of recent research reports. Zacks Investment Research raised Sterling Construction from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 8th. BidaskClub downgraded Sterling Construction from a “buy” rating to a “hold” rating in a research report on Saturday, July 13th. Finally, ValuEngine downgraded Sterling Construction from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st.
Several hedge funds and other institutional investors have recently made changes to their positions in STRL. Macquarie Group Ltd. grew its position in shares of Sterling Construction by 111.1% in the fourth quarter. Macquarie Group Ltd. now owns 3,800 shares of the construction company’s stock valued at $41,000 after purchasing an additional 2,000 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Sterling Construction in the first quarter valued at $58,000. BNP Paribas Arbitrage SA grew its position in shares of Sterling Construction by 728.5% in the first quarter. BNP Paribas Arbitrage SA now owns 5,559 shares of the construction company’s stock valued at $70,000 after purchasing an additional 4,888 shares in the last quarter. Citigroup Inc. grew its position in shares of Sterling Construction by 17.6% in the fourth quarter. Citigroup Inc. now owns 8,617 shares of the construction company’s stock valued at $94,000 after purchasing an additional 1,292 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its position in shares of Sterling Construction by 424.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 8,888 shares of the construction company’s stock valued at $97,000 after purchasing an additional 7,194 shares in the last quarter. Institutional investors own 83.12% of the company’s stock.
Sterling Construction Company Profile
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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