Somewhat Favorable Media Coverage Somewhat Unlikely to Impact Granite Construction (GVA) Share Price
News headlines about Granite Construction (NYSE:GVA) have trended somewhat positive recently, Accern reports. Accern rates the sentiment of media coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Granite Construction earned a news impact score of 0.11 on Accern’s scale. Accern also assigned press coverage about the construction company an impact score of 46.2576300214091 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
These are some of the media headlines that may have effected Accern’s analysis:
- Granite Names Kyle T. Larkin as Head of Its California Operations (finance.yahoo.com)
- Zacks: Brokerages Anticipate Granite Construction Incorporated (GVA) Will Post Quarterly Sales of $923.73 Million (americanbankingnews.com)
- Comparing Granite Construction (GVA) & Its Rivals (americanbankingnews.com)
- Brokers Offer Predictions for Granite Construction Incorporated’s FY2017 Earnings (GVA) (americanbankingnews.com)
Granite Construction (NYSE:GVA) opened at 59.24 on Wednesday. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 53.90 and a beta of 1.17. The firm has a 50-day moving average price of $56.17 and a 200-day moving average price of $51.53. Granite Construction has a one year low of $42.59 and a one year high of $62.18.
Granite Construction (NYSE:GVA) last issued its earnings results on Tuesday, August 1st. The construction company reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.25). The firm had revenue of $762.90 million during the quarter, compared to the consensus estimate of $684.32 million. Granite Construction had a net margin of 1.61% and a return on equity of 4.80%. The business’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 earnings per share. Analysts expect that Granite Construction will post $1.49 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders 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 annualized dividend and a dividend yield of 0.88%. Granite Construction’s payout ratio is presently 48.60%.
GVA has been the topic of a number of recent analyst reports. Zacks Investment Research raised Granite Construction from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. BidaskClub raised Granite Construction from a “strong sell” rating to a “sell” rating in a report on Thursday, July 6th. FBR & Co boosted their target price on Granite Construction from $63.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, August 1st. Canaccord Genuity reissued a “buy” rating and set a $70.00 target price on shares of Granite Construction in a report on Tuesday, August 1st. Finally, Cowen and Company reissued a “buy” rating and set a $70.00 target price on shares of Granite Construction in a report on Tuesday, September 19th. 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 company’s stock. The stock currently has an average rating of “Buy” and an average price target of $63.67.
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In other Granite Construction news, insider James D. Richards sold 4,000 shares of the business’s stock in a transaction on 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 document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.30% of the company’s stock.
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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