Somewhat Favorable News Coverage Somewhat Unlikely to Impact Granite Construction (GVA) Share Price
Media headlines about Granite Construction (NYSE:GVA) have trended somewhat positive on Sunday, according to Accern. The research firm ranks the sentiment of media coverage by reviewing 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 media sentiment score of 0.13 on Accern’s scale. Accern also assigned news headlines about the construction company an impact score of 47.3260859182177 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
Shares of Granite Construction (NYSE:GVA) traded up $0.58 during midday trading on Friday, reaching $62.38. The company’s stock had a trading volume of 775,363 shares, compared to its average volume of 252,225. The company has a current ratio of 1.79, a quick ratio of 1.71 and a debt-to-equity ratio of 0.24. The company has a market cap of $2,490.00, a P/E ratio of 48.36, a P/E/G ratio of 5.48 and a beta of 1.24. Granite Construction has a 52 week low of $45.14 and a 52 week high of $67.39.
Granite Construction (NYSE:GVA) last issued its quarterly earnings results on Friday, October 27th. The construction company reported $1.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.04. The company had revenue of $957.10 million for the quarter, compared to the consensus estimate of $905.14 million. Granite Construction had a return on equity of 5.71% and a net margin of 1.84%. The company’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.92 EPS. sell-side analysts expect that Granite Construction will post 1.63 earnings per share for the current year.
GVA has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded Granite Construction from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Seaport Global Securities downgraded Granite Construction from a “buy” rating to a “neutral” rating and set a $64.00 price objective on the stock. in a research note on Wednesday, October 11th. Canaccord Genuity reissued a “buy” rating and issued a $70.00 price objective on shares of Granite Construction in a research note on Saturday, August 26th. FBR & Co reissued a “buy” rating and issued a $68.00 price objective on shares of Granite Construction in a research note on Tuesday, October 3rd. Finally, Cowen reissued a “buy” rating and issued a $70.00 price objective on shares of Granite Construction in a research note on Tuesday, September 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. Granite Construction presently has an average rating of “Buy” and an average price target of $67.00.
In other Granite Construction news, Director William Howard Powell sold 3,103 shares of Granite Construction stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $63.85, for a total value of $198,126.55. Following the transaction, the director now directly owns 46,771 shares of the company’s stock, valued at approximately $2,986,328.35. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Claes Bjork sold 1,264 shares of Granite Construction stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $63.05, for a total value of $79,695.20. Following the completion of the transaction, the director now directly owns 50,972 shares in the company, valued at $3,213,784.60. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
About Granite Construction
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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