Construction Partners (NASDAQ:ROAD) Announces Earnings Results

Construction Partners (NASDAQ:ROADGet Free Report) announced its quarterly earnings results on Friday. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.05, Briefing.com reports. Construction Partners had a return on equity of 11.56% and a net margin of 3.52%. The company had revenue of $371.43 million during the quarter, compared to analyst estimates of $363.12 million. During the same period in the prior year, the firm posted ($0.11) earnings per share. The firm’s revenue was up 14.3% on a year-over-year basis. Construction Partners updated its FY 2024 guidance to EPS.

Construction Partners Stock Up 3.0 %

ROAD traded up $1.63 on Friday, reaching $55.44. 697,144 shares of the company traded hands, compared to its average volume of 383,225. The stock’s 50 day moving average price is $53.39 and its 200-day moving average price is $46.76. The company has a market cap of $2.92 billion, a price-to-earnings ratio of 47.38, a PEG ratio of 1.39 and a beta of 0.68. Construction Partners has a 52-week low of $27.33 and a 52-week high of $58.65. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.75 and a quick ratio of 1.39.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Sidoti lowered Construction Partners from a “buy” rating to a “neutral” rating and set a $59.00 price target on the stock. in a research report on Thursday, March 28th. Robert W. Baird lowered shares of Construction Partners from an “outperform” rating to a “neutral” rating and raised their price objective for the stock from $46.00 to $50.00 in a report on Monday, February 12th. Finally, Stifel Nicolaus lifted their price target on Construction Partners from $51.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Construction Partners presently has an average rating of “Moderate Buy” and an average target price of $52.00.

Check Out Our Latest Analysis on ROAD

Construction Partners Company Profile

(Get Free Report)

Construction Partners, Inc, a civil infrastructure company, constructs and maintains roadways in Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee. The company provides various products and services to public and private infrastructure projects, such as highways, roads, bridges, airports, and commercial and residential developments.

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Earnings History for Construction Partners (NASDAQ:ROAD)

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