Wall Street brokerages expect that Granite Construction Inc. (NYSE:GVA) will post sales of $952.36 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Granite Construction’s earnings, with estimates ranging from $929.72 million to $975.00 million. Granite Construction posted sales of $807.12 million in the same quarter last year, which would indicate a positive year over year growth rate of 18%. The company is expected to announce its next earnings results on Wednesday, August 14th.
On average, analysts expect that Granite Construction will report full-year sales of $3.71 billion for the current financial year, with estimates ranging from $3.68 billion to $3.74 billion. For the next year, analysts anticipate that the company will report sales of $4.05 billion, with estimates ranging from $3.93 billion to $4.18 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Granite Construction.
Granite Construction (NYSE:GVA) last issued its earnings results on Friday, April 26th. The construction company reported ($0.57) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.35). The company had revenue of $619.80 million during the quarter, compared to analysts’ expectations of $644.46 million. Granite Construction had a net margin of 0.57% and a return on equity of 6.03%. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.13) earnings per share.
Several brokerages have issued reports on GVA. B. Riley restated a “buy” rating on shares of Insight Enterprises in a report on Monday, April 29th. ValuEngine upgraded Zillow Group from a “hold” rating to a “buy” rating in a report on Thursday, July 11th. MKM Partners set a $61.00 price target on Granite Construction and gave the stock a “buy” rating in a report on Friday, March 22nd. Goldman Sachs Group upgraded Koninklijke KPN from a “neutral” rating to a “buy” rating in a report on Wednesday, May 29th. Finally, Zacks Investment Research cut EXACT Sciences from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $59.00.
NYSE:GVA traded down $0.94 during trading hours on Friday, hitting $41.25. The company had a trading volume of 683,433 shares, compared to its average volume of 340,167. The company has a current ratio of 2.12, a quick ratio of 1.97 and a debt-to-equity ratio of 0.24. The business’s 50-day moving average price is $44.12. The firm has a market capitalization of $2.02 billion, a P/E ratio of 17.63, a P/E/G ratio of 2.18 and a beta of 1.34. Granite Construction has a 1 year low of $38.55 and a 1 year high of $58.93.
The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a $0.13 dividend. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.26%. Granite Construction’s dividend payout ratio (DPR) is 22.22%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NumerixS Investment Technologies Inc acquired a new position in shares of Granite Construction in the fourth quarter worth $48,000. Tompkins Financial Corp grew its position in shares of Granite Construction by 47.8% in the first quarter. Tompkins Financial Corp now owns 1,700 shares of the construction company’s stock valued at $73,000 after purchasing an additional 550 shares during the period. Golden State Wealth Management LLC purchased a new stake in shares of Granite Construction in the first quarter valued at $206,000. Fagan Associates Inc. purchased a new stake in shares of Granite Construction in the first quarter valued at $208,000. Finally, Neuburgh Advisers LLC grew its position in shares of Granite Construction by 15.9% in the fourth quarter. Neuburgh Advisers LLC now owns 5,302 shares of the construction company’s stock valued at $214,000 after purchasing an additional 726 shares during the period. 98.59% of the stock is owned by institutional investors.
Granite Construction Company Profile
Granite Construction Incorporated operates as an infrastructure contractor and a construction materials producer in the United States. The company operates through Transportation, Water, Specialty, and Materials segments. The Transportation segment engages in the construction and rehabilitation of roads, pavement preservation, bridges, rail lines, airports, and marine ports.
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