Somewhat Positive Press Coverage Somewhat Unlikely to Affect Granite Construction (GVA) Share Price
Headlines about Granite Construction (NYSE:GVA) have been trending somewhat positive this week, Accern Sentiment reports. The research group scores the sentiment of media coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Granite Construction earned a news sentiment score of 0.14 on Accern’s scale. Accern also assigned media stories about the construction company an impact score of 45.8822950810407 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
Several research analysts have issued reports on the company. FBR & Co reissued a “buy” rating and issued a $68.00 target price on shares of Granite Construction in a research report on Tuesday. Cowen and Company reissued a “buy” rating and issued a $70.00 target price on shares of Granite Construction in a research report on Tuesday, September 19th. Canaccord Genuity reaffirmed a “buy” rating and set a $70.00 price objective on shares of Granite Construction in a research report on Tuesday, August 1st. BidaskClub raised Granite Construction from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 6th. Finally, Zacks Investment Research raised Granite Construction from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $63.67.
Granite Construction (NYSE:GVA) opened at 58.48 on Thursday. Granite Construction has a 52-week low of $42.59 and a 52-week high of $62.18. The stock has a market capitalization of $2.33 billion, a PE ratio of 53.21 and a beta of 1.17. The stock’s 50 day moving average price is $55.09 and its 200-day moving average price is $51.14.
Granite Construction (NYSE:GVA) last issued its earnings results on Tuesday, August 1st. The construction company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.25). Granite Construction had a return on equity of 4.80% and a net margin of 1.61%. The company had revenue of $762.90 million during the quarter, compared to analysts’ expectations of $684.32 million. During the same quarter in the previous year, the company earned $0.35 EPS. The firm’s quarterly revenue was up 26.2% compared to the same quarter last year. On average, equities analysts expect that Granite Construction will post $1.49 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.89%. Granite Construction’s payout ratio is 48.60%.
In other news, insider James D. Richards sold 4,000 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $55.50, for a total value of $222,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.30% of the stock is owned by corporate insiders.
TRADEMARK VIOLATION WARNING: “Somewhat Positive Press Coverage Somewhat Unlikely to Affect Granite Construction (GVA) Share Price” was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this news story on another domain, it was illegally copied and republished in violation of U.S. and international copyright & trademark laws. The legal version of this news story can be accessed at https://www.thecerbatgem.com/2017/10/05/somewhat-positive-press-coverage-somewhat-unlikely-to-affect-granite-construction-gva-share-price.html.
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.
Receive News & Stock Ratings for Granite Construction Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Granite Construction Incorporated and related stocks with our FREE daily email newsletter.