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Why the Market Dipped But Sterling Infrastructure (STRL) Gained Today
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In the latest market close, Sterling Infrastructure (STRL - Free Report) reached $154.45, with a +0.64% movement compared to the previous day. This change outpaced the S&P 500's 1.86% loss on the day. Meanwhile, the Dow experienced a drop of 0.9%, and the technology-dominated Nasdaq saw a decrease of 2.76%.
Shares of the civil construction company witnessed a gain of 5.06% over the previous month, beating the performance of the Construction sector with its gain of 3.66% and the S&P 500's gain of 1.01%.
Investors will be eagerly watching for the performance of Sterling Infrastructure in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 6, 2024. The company is forecasted to report an EPS of $1.68, showcasing a 33.33% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $599.9 million, indicating a 7.06% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $5.66 per share and a revenue of $2.16 billion, demonstrating changes of +26.62% and +9.69%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Sterling Infrastructure. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. As of now, Sterling Infrastructure holds a Zacks Rank of #3 (Hold).
In terms of valuation, Sterling Infrastructure is presently being traded at a Forward P/E ratio of 27.14. For comparison, its industry has an average Forward P/E of 22.4, which means Sterling Infrastructure is trading at a premium to the group.
It's also important to note that STRL currently trades at a PEG ratio of 1.81. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Engineering - R and D Services industry had an average PEG ratio of 1.72.
The Engineering - R and D Services industry is part of the Construction sector. This industry, currently bearing a Zacks Industry Rank of 146, finds itself in the bottom 43% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Why the Market Dipped But Sterling Infrastructure (STRL) Gained Today
In the latest market close, Sterling Infrastructure (STRL - Free Report) reached $154.45, with a +0.64% movement compared to the previous day. This change outpaced the S&P 500's 1.86% loss on the day. Meanwhile, the Dow experienced a drop of 0.9%, and the technology-dominated Nasdaq saw a decrease of 2.76%.
Shares of the civil construction company witnessed a gain of 5.06% over the previous month, beating the performance of the Construction sector with its gain of 3.66% and the S&P 500's gain of 1.01%.
Investors will be eagerly watching for the performance of Sterling Infrastructure in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 6, 2024. The company is forecasted to report an EPS of $1.68, showcasing a 33.33% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $599.9 million, indicating a 7.06% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $5.66 per share and a revenue of $2.16 billion, demonstrating changes of +26.62% and +9.69%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Sterling Infrastructure. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. As of now, Sterling Infrastructure holds a Zacks Rank of #3 (Hold).
In terms of valuation, Sterling Infrastructure is presently being traded at a Forward P/E ratio of 27.14. For comparison, its industry has an average Forward P/E of 22.4, which means Sterling Infrastructure is trading at a premium to the group.
It's also important to note that STRL currently trades at a PEG ratio of 1.81. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Engineering - R and D Services industry had an average PEG ratio of 1.72.
The Engineering - R and D Services industry is part of the Construction sector. This industry, currently bearing a Zacks Industry Rank of 146, finds itself in the bottom 43% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.