Brokerages Expect Granite Construction Inc. (GVA) Will Announce Quarterly Sales of $513.54 Million
Brokerages expect that Granite Construction Inc. (NYSE:GVA) will announce sales of $513.54 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Granite Construction’s earnings. The lowest sales estimate is $507.00 million and the highest is $520.07 million. Granite Construction reported sales of $468.40 million in the same quarter last year, which indicates a positive year over year growth rate of 9.6%. The business is expected to announce its next earnings results on Friday, February 16th.
According to Zacks, analysts expect that Granite Construction will report full-year sales of $513.54 million for the current financial year, with estimates ranging from $3.26 billion to $3.34 billion. For the next financial year, analysts expect that the firm will report sales of $3.59 billion per share. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Granite Construction.
Granite Construction (NYSE:GVA) last posted its quarterly earnings data on Friday, February 16th. The construction company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. The company had revenue of $801.30 million for the quarter, compared to analyst estimates of $753.83 million. Granite Construction had a net margin of 1.84% and a return on equity of 5.71%. Granite Construction’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.40 earnings per share.
Shares of Granite Construction (GVA) traded up $2.73 during trading on Friday, hitting $60.36. 795,216 shares of the stock were exchanged, compared to its average volume of 304,475. Granite Construction has a twelve month low of $45.14 and a twelve month high of $68.58. 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 firm has a market capitalization of $2,410.00, a price-to-earnings ratio of 46.08, a price-to-earnings-growth ratio of 2.66 and a beta of 1.21.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Friday, March 30th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Wednesday, March 28th. Granite Construction’s payout ratio is 39.69%.
In related news, Director Claes Bjork sold 1,264 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $63.05, for a total transaction of $79,695.20. Following the transaction, the director now owns 50,972 shares of the company’s stock, valued at $3,213,784.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.30% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in GVA. Teachers Advisors LLC lifted its stake in shares of Granite Construction by 4.9% during the second quarter. Teachers Advisors LLC now owns 72,728 shares of the construction company’s stock valued at $3,508,000 after buying an additional 3,394 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Granite Construction by 4.6% during the second quarter. PNC Financial Services Group Inc. now owns 5,686 shares of the construction company’s stock valued at $275,000 after buying an additional 251 shares during the period. New York State Common Retirement Fund lifted its stake in shares of Granite Construction by 2.4% during the second quarter. New York State Common Retirement Fund now owns 42,700 shares of the construction company’s stock valued at $2,060,000 after buying an additional 999 shares during the period. Citigroup Inc. lifted its stake in shares of Granite Construction by 20.0% during the second quarter. Citigroup Inc. now owns 4,093 shares of the construction company’s stock valued at $197,000 after buying an additional 683 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Granite Construction by 1.9% during the second quarter. Vanguard Group Inc. now owns 3,354,135 shares of the construction company’s stock valued at $161,802,000 after buying an additional 62,760 shares during the period. 99.05% of the stock is currently owned by institutional investors and hedge funds.
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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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