Brokerages forecast that Granite Construction Inc. (NYSE:GVA) will announce $0.64 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Granite Construction’s earnings, with estimates ranging from $0.63 to $0.65. Granite Construction reported earnings of $0.43 per share in the same quarter last year, which suggests a positive year over year growth rate of 48.8%. The firm is scheduled to announce its next earnings report on Wednesday, August 14th.
On average, analysts expect that Granite Construction will report full year earnings of $2.83 per share for the current financial year, with EPS estimates ranging from $2.75 to $2.93. For the next year, analysts expect that the business will report earnings of $4.05 per share, with EPS estimates ranging from $3.60 to $4.55. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that that provide coverage for Granite Construction.
Granite Construction (NYSE:GVA) last posted its earnings results on Friday, April 26th. The construction company reported ($0.57) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.35). The business had revenue of $619.80 million for the quarter, compared to analyst estimates of $644.46 million. Granite Construction had a return on equity of 6.03% and a net margin of 0.57%. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the company posted ($0.13) EPS.
Several analysts have issued reports on GVA shares. ValuEngine raised shares of Granite Construction from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. MKM Partners set a $61.00 price objective on shares of Granite Construction and gave the company a “buy” rating in a research report on Friday, March 22nd. Zacks Investment Research raised shares of Granite Construction from a “sell” rating to a “hold” rating in a research report on Tuesday, January 8th. Finally, B. Riley reaffirmed a “buy” rating and issued a $53.00 price objective (down previously from $66.00) on shares of Granite Construction in a research report on Monday. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Granite Construction has an average rating of “Buy” and an average price target of $58.50.
Large investors have recently modified their holdings of the business. Janney Montgomery Scott LLC boosted its stake in shares of Granite Construction by 5.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 9,312 shares of the construction company’s stock valued at $375,000 after buying an additional 516 shares during the last quarter. Tompkins Financial Corp boosted its stake in shares of Granite Construction by 47.8% during the 1st quarter. Tompkins Financial Corp now owns 1,700 shares of the construction company’s stock valued at $73,000 after buying an additional 550 shares during the last quarter. Rowland & Co. Investment Counsel ADV boosted its stake in shares of Granite Construction by 13.6% during the 4th quarter. Rowland & Co. Investment Counsel ADV now owns 5,020 shares of the construction company’s stock valued at $202,000 after buying an additional 600 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of Granite Construction by 0.7% during the 3rd quarter. Teachers Advisors LLC now owns 86,968 shares of the construction company’s stock valued at $3,974,000 after buying an additional 605 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Granite Construction by 9.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,482 shares of the construction company’s stock worth $302,000 after purchasing an additional 669 shares during the last quarter. 96.76% of the stock is owned by institutional investors.
NYSE:GVA traded up $1.54 during trading hours on Friday, hitting $46.98. The stock had a trading volume of 458,178 shares, compared to its average volume of 333,528. The company has a quick ratio of 1.97, a current ratio of 2.12 and a debt-to-equity ratio of 0.24. Granite Construction has a 1-year low of $38.55 and a 1-year high of $60.11. The company has a market capitalization of $2.13 billion, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 2.27 and a beta of 1.20.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.11%. The ex-dividend date was Thursday, March 28th. Granite Construction’s dividend payout ratio (DPR) is 22.22%.
About Granite Construction
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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