Sterling Construction (STRL): Shares cycling in bullish 'pennant'

Filed under: Earnings reports, Technical Analysis, Stocks to Buy

Sterling Construction Company (NASDAQ: STRL) is engaged in the construction and reconstruction of U.S. infrastructure. Projects involve highways, roads, bridges, wastewater facilities and storm drainage systems. The firm also provides general contracting services, including excavations, paving, pipe installation and concrete placement. Sterling clients are municipal and state districts, departments and authorities.

The firm pleased investors last month, when it announced Q4 EPS of 39 cents and revenues of $88.3 million. Analysts had been expecting 32 cents and $88.6 million. Management also guided FY08 EPS to $1.43-$1.57 ($1.48 consensus) and FY08 revenues to $428-$473 million ($447.20M consensus). Sterling's President noted that the company closed the year with working capital of more than $82 million, its strongest financial position ever.

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