Sterling Construction Company, Inc. (STRL) Maintains Buy Rating
March 16, 2010 1:16 PM
Wunderlich Securities has released an update on Sterling Construction Company, Inc. (NASDAQ: STRL). The company reported its fourth-quarter results on Monday.
Sterling Construction Company reported EPS of $0.13 in its fourth-quarter. The earnings were in-line with Wunderlich’s estimate but below consensus of $0.23. The company reported revenue of $71.7 million, which were well below expectations. Gross margins were at 10.3% in the quarter.
Sterling Construction Company’s financial position continues to remain strong, with $93 million in cash and short-term investments, debt of $40.5 million, and an equity base of $230.8 million.
Wunderlich has made adjustments to its 2010 earnings estimate for Sterling Construction Company. It has lowered 2010 EPS estimate from $1.35 to $1.25 to reflect lower revenue expectations.
Wunderlich Securities has maintained its Buy rating and $24 price target for Sterling Construction Company, Inc.
