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Sterling Infrastructure, Inc. (STRL) engages in the e-infrastructure, transportation, and building solutions primarily in the Southern United States, the Northeastern and Mid-Atlantic United States, the Rocky Mountain states, California, and Hawaii. 
It undertakes infrastructure and rehabilitation projects for highways, roads, bridges, airports, ports, light rail, water, wastewater, and storm drainage systems for the departments of transportation in various states, regional transit authorities, airport authorities, port authorities, water authorities and railroads.
The company also offers specialty site infrastructure improvement contracting services for blue-chip end users in the e-commerce, data center, distribution center and warehousing, energy sectors, and others.
In addition, it undertakes residential and commercial concrete foundations for single-family and multi-family homes, parking structures, elevated slabs, and other concrete work for national home builders, regional and custom home builders, and developers and general contractors in commercial markets.
On May 1st, STRL reported 1st Quarter March 2023 earnings of $0.64 per share on revenue of $403.6 million. The consensus earnings estimate was $0.56 per share on revenue of $375.6 million.
The company said it continues to expect 2023 earnings of $3.33 to $3.53 per share on revenue of $1.90 billion to $2.00 billion. The current consensus earnings estimate is $3.43 per share on revenue of $1.90 billion for the year ending December 31, 2023. Shares have formed a bullish "cup and handle" and are about to move higher from this formation.
Entry Point: $52.50
Stop Loss: $50.00
Trading Range: $20.46 - $54.44
Target Price: $57.75
