Granite Construction (GVA) to Release Earnings on Friday

Granite Construction (NYSE:GVA) is scheduled to be releasing its earnings data before the market opens on Friday, October 26th. Analysts expect Granite Construction to post earnings of $1.24 per share for the quarter.

Granite Construction (NYSE:GVA) last announced its earnings results on Wednesday, August 8th. The construction company reported ($0.20) EPS for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($1.01). The company had revenue of $807.10 million during the quarter, compared to analysts’ expectations of $897.70 million. Granite Construction had a return on equity of 8.35% and a net margin of 1.88%. Granite Construction’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.35 EPS. On average, analysts expect Granite Construction to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Shares of Granite Construction stock opened at $40.86 on Friday. The company has a market capitalization of $2.02 billion, a PE ratio of 25.22, a P/E/G ratio of 2.38 and a beta of 1.21. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.53 and a quick ratio of 1.42. Granite Construction has a one year low of $40.48 and a one year high of $68.58.

The business also recently announced a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Friday, September 28th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend was Thursday, September 27th. Granite Construction’s dividend payout ratio (DPR) is 32.10%.

In other Granite Construction news, Director Claes Bjork acquired 6,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The stock was bought at an average price of $44.25 per share, for a total transaction of $287,625.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by insiders.

A number of brokerages have recently commented on GVA. Zacks Investment Research upgraded Granite Construction from a “hold” rating to a “strong-buy” rating and set a $62.00 target price for the company in a report on Wednesday, August 1st. ValuEngine cut Granite Construction from a “hold” rating to a “sell” rating in a report on Wednesday, July 25th. Canaccord Genuity reiterated a “buy” rating and issued a $65.00 target price (down previously from $75.00) on shares of Granite Construction in a report on Thursday, August 9th. Finally, TheStreet cut Granite Construction from a “b” rating to a “c+” rating in a report on Monday, August 13th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. Granite Construction has a consensus rating of “Buy” and an average target price of $70.80.

Granite Construction Company Profile

Granite Construction Incorporated operates as a heavy civil contractor and a construction materials producer in the United States. The company operates through three segments: Construction, Large Project Construction, and Construction Materials. The Construction segment undertakes various civil construction projects focusing on new construction and improvement of streets, roads, highways, bridges, site work, underground, power-related facilities, water-related facilities, utilities, and other infrastructure projects.

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Earnings History for Granite Construction (NYSE:GVA)

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