Equities analysts forecast that Sterling Construction Company, Inc. (NASDAQ:STRL) will report $222.05 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Sterling Construction’s earnings, with the highest sales estimate coming in at $223.00 million and the lowest estimate coming in at $221.10 million. Sterling Construction posted sales of $168.35 million during the same quarter last year, which suggests a positive year-over-year growth rate of 31.9%. The company is scheduled to issue its next earnings results on Thursday, March 8th.
According to Zacks, analysts expect that Sterling Construction will report full-year sales of $222.05 million for the current year, with estimates ranging from $925.10 million to $927.05 million. For the next fiscal year, analysts anticipate that the company will report sales of $1.05 billion per share, with estimates ranging from $1.03 billion to $1.06 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Sterling Construction.
Several research analysts recently issued reports on STRL shares. BidaskClub lowered shares of Sterling Construction from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Zacks Investment Research lowered shares of Sterling Construction from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 5th. Finally, TheStreet raised shares of Sterling Construction from a “c+” rating to a “b-” rating in a research report on Tuesday, December 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $17.00.
In related news, Director Maarten D. Hemsley sold 29,800 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $17.32, for a total value of $516,136.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.20% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Cornerstone Capital Management Holdings LLC. grew its stake in Sterling Construction by 43.3% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 45,700 shares of the construction company’s stock worth $596,000 after buying an additional 13,800 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Sterling Construction by 39.2% during the third quarter. JPMorgan Chase & Co. now owns 202,147 shares of the construction company’s stock worth $3,113,000 after buying an additional 56,947 shares during the last quarter. Chicago Equity Partners LLC grew its stake in Sterling Construction by 169.9% during the third quarter. Chicago Equity Partners LLC now owns 339,850 shares of the construction company’s stock worth $5,176,000 after buying an additional 213,921 shares during the last quarter. Cavalier Investments LLC bought a new stake in Sterling Construction during the third quarter worth about $335,000. Finally, State Street Corp grew its stake in Sterling Construction by 2,766.2% during the second quarter. State Street Corp now owns 340,078 shares of the construction company’s stock worth $4,446,000 after buying an additional 328,213 shares during the last quarter. 68.80% of the stock is currently owned by hedge funds and other institutional investors.
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Sterling Construction Company Profile
Sterling Construction Company, Inc is a heavy civil construction company engaged in the building and reconstruction of transportation and water infrastructure projects in Texas, Utah, Nevada, Arizona, California, Hawaii and other states. The Company’s transportation infrastructure projects include highways, roads, bridges, airfields, ports and light rail.
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