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Strength Seen in Sterling Infrastructure (STRL): Can Its 3.4% Jump Turn into More Strength?
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Sterling Infrastructure (STRL - Free Report) shares rallied 3.3% in the last trading session to close at $360.25. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 25.4% gain over the past four weeks.
Shares of this Texas-based infrastructure services provider are likely to have gained on the optimism surrounding the recently eased pressures on Fed interest rates. The 0.25 percentage point cut in the interest rate is expected to have boosted investors’ sentiments regarding the company's further prospects in an already booming infrastructure demand environment.
This civil construction company is expected to post quarterly earnings of $2.79 per share in its upcoming report, which represents a year-over-year change of +41.6%. Revenues are expected to be $612.4 million, up 3.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Sterling Infrastructure, the consensus EPS estimate for the quarter has been revised 1.5% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on STRL going forward to see if this recent jump can turn into more strength down the road.
Sterling Infrastructure belongs to the Zacks Engineering - R and D Services industry. Another stock from the same industry, M-tron Industries, Inc. (MPTI - Free Report) , closed the last trading session 7.2% higher at $52.52. Over the past month, MPTI has returned 13.4%.
For M-tron Industries, Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.57. This represents a change of -29.6% from what the company reported a year ago. M-tron Industries, Inc. currently has a Zacks Rank of #4 (Sell).
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Strength Seen in Sterling Infrastructure (STRL): Can Its 3.4% Jump Turn into More Strength?
Sterling Infrastructure (STRL - Free Report) shares rallied 3.3% in the last trading session to close at $360.25. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 25.4% gain over the past four weeks.
Shares of this Texas-based infrastructure services provider are likely to have gained on the optimism surrounding the recently eased pressures on Fed interest rates. The 0.25 percentage point cut in the interest rate is expected to have boosted investors’ sentiments regarding the company's further prospects in an already booming infrastructure demand environment.
This civil construction company is expected to post quarterly earnings of $2.79 per share in its upcoming report, which represents a year-over-year change of +41.6%. Revenues are expected to be $612.4 million, up 3.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Sterling Infrastructure, the consensus EPS estimate for the quarter has been revised 1.5% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on STRL going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Sterling Infrastructure belongs to the Zacks Engineering - R and D Services industry. Another stock from the same industry, M-tron Industries, Inc. (MPTI - Free Report) , closed the last trading session 7.2% higher at $52.52. Over the past month, MPTI has returned 13.4%.
For M-tron Industries, Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.57. This represents a change of -29.6% from what the company reported a year ago. M-tron Industries, Inc. currently has a Zacks Rank of #4 (Sell).