Sterling Construction Company (STRL) was Downgraded by BWS Financial to ” Hold” and the brokerage firm has set the Price Target at $6. Earlier the firm had a rating of “Buy ” on the company shares. BWS Financial advised their investors in a research report released on May 3, 2016.
On the company’s financial health, Sterling Construction Company reported $-0.37 EPS for the quarter, missing the analyst consensus estimate by $ -0.33 based on the information available during the earnings call on May 2, 2016. Analyst had a consensus of $-0.04. The company had revenue of $126.60 million for the quarter, compared to analysts expectations of $142.54 million. The company’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.90 EPS.
Sterling Construction Company closed down -0.64 points or -12.21% at $4.6 with 1,87,070 shares getting traded on Monday. Post opening the session at $4.59, the shares hit an intraday low of $4.51 and an intraday high of $4.865 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
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 and light rail and its water infrastructure projects include water wastewater and storm drainage systems. The Company provides its services primarily by using traditional general contracting arrangements including fixed-unit price contracts lump sum contracts and cost-plus contracts. Through its subsidiaries the Company performs construction contracts produces aggregates from a leased quarry and produces asphalt.