Brokerages Expect Granite Construction Incorporated (GVA) Will Post Earnings of $0.73 Per Share

Equities analysts predict that Granite Construction Incorporated (NYSE:GVA) will report $0.73 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Granite Construction’s earnings, with the lowest EPS estimate coming in at $0.60 and the highest estimate coming in at $0.93. Granite Construction posted earnings of $0.40 per share during the same quarter last year, which suggests a positive year over year growth rate of 82.5%. The firm is scheduled to report its next earnings report on Friday, February 16th.

On average, analysts expect that Granite Construction will report full year earnings of $1.63 per share for the current financial year, with EPS estimates ranging from $1.50 to $1.83. For the next financial year, analysts forecast that the company will post earnings of $3.05 per share, with EPS estimates ranging from $2.85 to $3.47. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Granite Construction.

Granite Construction (NYSE:GVA) last issued its earnings results on Friday, October 27th. The construction company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.10 by $0.04. The company had revenue of $957.10 million for the quarter, compared to analyst estimates of $905.14 million. Granite Construction had a net margin of 1.84% and a return on equity of 5.71%. The business’s revenue was up 19.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.92 EPS.

Several equities research analysts recently commented on the stock. B. Riley reiterated a “buy” rating on shares of Granite Construction in a research report on Wednesday, November 1st. Zacks Investment Research upgraded shares of Granite Construction from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research report on Tuesday, October 31st. Canaccord Genuity boosted their price objective on shares of Granite Construction from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, October 30th. DA Davidson reiterated a “hold” rating and issued a $65.00 price objective on shares of Granite Construction in a research report on Monday, October 30th. Finally, Seaport Global Securities lowered shares of Granite Construction from a “buy” rating to a “neutral” rating and set a $64.00 price objective on the stock. in a research report on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $67.00.

Shares of Granite Construction (GVA) opened at $62.02 on Wednesday. The company has a market cap of $2,529.33, a price-to-earnings ratio of 49.20, a price-to-earnings-growth ratio of 5.57 and a beta of 1.24. Granite Construction has a 1 year low of $45.14 and a 1 year high of $67.20. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.71 and a current ratio of 1.79.

In related news, Director William Howard Powell sold 3,103 shares of the business’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $63.85, for a total value of $198,126.55. Following the completion of the transaction, the director now owns 46,771 shares of the company’s stock, valued at approximately $2,986,328.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James D. Richards sold 4,000 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $55.50, for a total transaction of $222,000.00. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cubist Systematic Strategies LLC increased its stake in shares of Granite Construction by 364.5% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 5,109 shares of the construction company’s stock valued at $296,000 after acquiring an additional 4,009 shares during the last quarter. Asset Management One Co. Ltd. acquired a new position in shares of Granite Construction during the 3rd quarter valued at about $10,719,000. Engineers Gate Manager LP acquired a new position in shares of Granite Construction during the 3rd quarter valued at about $1,491,000. Graticule Asia Macro Advisors LLC acquired a new position in shares of Granite Construction during the 3rd quarter valued at about $1,308,000. Finally, Pier Capital LLC increased its stake in shares of Granite Construction by 2.5% during the 3rd quarter. Pier Capital LLC now owns 127,529 shares of the construction company’s stock valued at $7,390,000 after acquiring an additional 3,055 shares during the last quarter. 97.68% of the stock is owned by institutional investors.

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Granite Construction Company Profile

Granite Construction Incorporated is a heavy civil contractor and construction materials producer in the United States. The Company operates through three segments: Construction, Large Project Construction and Construction Materials. The Company operates across the nation, serving both public and private sector clients.

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Earnings History and Estimates for Granite Construction (NYSE:GVA)

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