Sterling Construction Company, Inc. (NASDAQ:STRL) – Research analysts at DA Davidson reduced their Q3 2019 EPS estimates for shares of Sterling Construction in a report issued on Wednesday, August 7th, Zacks Investment Research reports. DA Davidson analyst B. Thielman now forecasts that the construction company will post earnings of $0.41 per share for the quarter, down from their previous estimate of $0.42.
Other research analysts have also recently issued research reports about the company. Zacks Investment Research cut Sterling Construction from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. ValuEngine cut Sterling Construction from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, BidaskClub cut Sterling Construction from a “buy” rating to a “hold” rating in a research report on Saturday, July 13th.
Shares of STRL stock traded up $0.04 during mid-day trading on Friday, reaching $11.19. The stock had a trading volume of 53,738 shares, compared to its average volume of 162,781. Sterling Construction has a 12-month low of $9.71 and a 12-month high of $15.75. The company has a market cap of $295.10 million, a P/E ratio of 12.03 and a beta of 1.10. The business has a 50-day simple moving average of $11.82 and a 200 day simple moving average of $12.85. The company has a current ratio of 1.56, a quick ratio of 1.54 and a debt-to-equity ratio of 0.43.
Sterling Construction (NASDAQ:STRL) last announced its quarterly earnings results on Monday, August 5th. The construction company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.03). Sterling Construction had a net margin of 2.34% and a return on equity of 14.15%. The firm had revenue of $264.09 million during the quarter, compared to analysts’ expectations of $280.00 million. During the same quarter in the prior year, the business earned $0.30 EPS. The company’s quarterly revenue was down 1.7% compared to the same quarter last year.
In related news, CEO Joseph A. Cutillo acquired 48,400 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was purchased at an average price of $11.01 per share, for a total transaction of $532,884.00. Following the transaction, the chief executive officer now owns 264,527 shares in the company, valued at approximately $2,912,442.27. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joseph A. Cutillo acquired 35,500 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were bought at an average price of $10.92 per share, with a total value of $387,660.00. Following the transaction, the chief executive officer now owns 264,527 shares in the company, valued at approximately $2,888,634.84. The disclosure for this purchase can be found here. Company insiders own 2.00% of the company’s stock.
A number of large investors have recently modified their holdings of STRL. Quantamental Technologies LLC acquired a new position in shares of Sterling Construction in the 2nd quarter valued at about $25,000. Bank of Montreal Can acquired a new position in Sterling Construction during the 2nd quarter worth approximately $30,000. Macquarie Group Ltd. lifted its position in Sterling Construction by 111.1% during the 4th quarter. Macquarie Group Ltd. now owns 3,800 shares of the construction company’s stock worth $41,000 after acquiring an additional 2,000 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Sterling Construction during the 1st quarter worth approximately $58,000. Finally, BNP Paribas Arbitrage SA lifted its position in Sterling Construction by 728.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,559 shares of the construction company’s stock worth $70,000 after acquiring an additional 4,888 shares in the last quarter. 83.01% of the stock is currently owned by hedge funds and other institutional investors.
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.