Sterling Infrastructure (NASDAQ:STRL) Releases FY 2022 Earnings Guidance

Sterling Infrastructure (NASDAQ:STRL – Get Rating) updated its FY 2022 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.95-$3.15 for the period, compared to the consensus estimate of $2.87. The company issued revenue guidance of $1.86 billion-$1.89 billion, compared to the consensus revenue estimate of $1.86 billion.

Sterling Infrastructure Price Performance

STRL traded up $0.39 during midday trading on Friday, hitting $25.23. The company had a trading volume of 84,351 shares, compared to its average volume of 172,153. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.28 and a current ratio of 1.32. The company has a market capitalization of $763.54 million, a PE ratio of 9.74 and a beta of 1.27. Sterling Infrastructure has a twelve month low of $20.74 and a twelve month high of $32.14. The firm’s 50-day simple moving average is $23.28 and its 200-day simple moving average is $25.41.

Sterling Infrastructure (NASDAQ:STRL – Get Rating) last posted its quarterly earnings data on Monday, August 1st. The construction company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.14. Sterling Infrastructure had a net margin of 4.33% and a return on equity of 21.04%. Equities research analysts predict that Sterling Infrastructure will post 3.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of STRL. Raymond James & Associates boosted its stake in shares of Sterling Infrastructure by 54.0% in the 1st quarter. Raymond James & Associates now owns 38,728 shares of the construction company’s stock valued at $1,038,000 after purchasing an additional 13,578 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Sterling Infrastructure by 1.3% during the 1st quarter. Bank of New York Mellon Corp now owns 171,699 shares of the construction company’s stock worth $4,602,000 after acquiring an additional 2,229 shares during the last quarter. US Bancorp DE boosted its stake in Sterling Infrastructure by 288.9% during the 1st quarter. US Bancorp DE now owns 3,527 shares of the construction company’s stock worth $94,000 after acquiring an additional 2,620 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Sterling Infrastructure by 11.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 19,700 shares of the construction company’s stock worth $528,000 after acquiring an additional 2,075 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in Sterling Infrastructure by 18.6% during the 1st quarter. Bank of Montreal Can now owns 10,555 shares of the construction company’s stock worth $295,000 after acquiring an additional 1,659 shares during the last quarter. Institutional investors own 79.00% of the company’s stock.

About Sterling Infrastructure

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Sterling Infrastructure, Inc engages in the transportation, e-infrastructure, and building solutions primarily in the Southern United States, the Northeastern and Mid-Atlantic United States, the Rocky Mountain states, California, and Hawaii. It undertakes infrastructure and rehabilitation projects for highways, roads, bridges, airports, ports, light rail, water, wastewater, and storm drainage systems for the departments of transportation in various states, regional transit authorities, airport authorities, port authorities, water authorities and railroads.