Wall Street analysts predict that Granite Construction Inc. (NYSE:GVA) will announce $1.07 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Granite Construction’s earnings. The highest EPS estimate is $1.15 and the lowest is $0.99. Granite Construction posted earnings of $0.72 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 48.6%. The firm is scheduled to issue its next earnings report on Friday, February 15th.

According to Zacks, analysts expect that Granite Construction will report full year earnings of $1.98 per share for the current year, with EPS estimates ranging from $1.89 to $2.06. For the next financial year, analysts forecast that the company will post earnings of $3.68 per share, with EPS estimates ranging from $3.15 to $4.08. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow Granite Construction.

Granite Construction (NYSE:GVA) last released its quarterly earnings data on Friday, October 26th. The construction company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.18. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.14 billion. Granite Construction had a net margin of 2.13% and a return on equity of 9.37%. The firm’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.14 earnings per share.

GVA has been the topic of a number of research reports. ValuEngine downgraded Granite Construction from a “hold” rating to a “sell” rating in a research report on Wednesday, January 2nd. Zacks Investment Research lowered shares of Granite Construction from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. MKM Partners set a $59.00 target price on shares of Granite Construction and gave the company a “buy” rating in a report on Wednesday, November 7th. Goldman Sachs Group cut shares of Granite Construction from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $58.00 to $50.00 in a research report on Monday, December 10th. Finally, TheStreet raised shares of Granite Construction from a “c+” rating to a “b” rating in a report on Wednesday, November 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $63.50.

In other Granite Construction news, Director James Hildebrand Roberts sold 2,200 shares of the stock in a transaction on Monday, November 26th. The stock was sold at an average price of $53.08, for a total transaction of $116,776.00. Following the completion of the transaction, the director now directly owns 61,394 shares in the company, valued at $3,258,793.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in GVA. Fuller & Thaler Asset Management Inc. bought a new stake in Granite Construction during the 3rd quarter valued at approximately $64,479,000. BlackRock Inc. increased its holdings in Granite Construction by 18.0% in the second quarter. BlackRock Inc. now owns 4,908,757 shares of the construction company’s stock valued at $273,220,000 after buying an additional 747,059 shares in the last quarter. Wynnefield Capital Inc. acquired a new position in Granite Construction in the 2nd quarter valued at about $26,057,000. Victory Capital Management Inc. increased its stake in Granite Construction by 40.1% during the 3rd quarter. Victory Capital Management Inc. now owns 1,292,287 shares of the construction company’s stock worth $59,057,000 after buying an additional 369,850 shares during the period. Finally, Investment Counselors of Maryland LLC boosted its stake in Granite Construction by 87.8% during the 3rd quarter. Investment Counselors of Maryland LLC now owns 484,584 shares of the construction company’s stock worth $22,145,000 after purchasing an additional 226,504 shares during the period. 96.00% of the stock is owned by institutional investors and hedge funds.

NYSE GVA opened at $43.67 on Wednesday. The company has a current ratio of 1.84, a quick ratio of 1.73 and a debt-to-equity ratio of 0.23. Granite Construction has a one year low of $38.55 and a one year high of $68.58. The stock has a market cap of $2.02 billion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 1.67 and a beta of 1.26.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, December 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.19%. Granite Construction’s dividend payout ratio is currently 32.10%.

About Granite Construction

Granite Construction Incorporated operates as a heavy civil contractor and a construction materials producer in the United States. The company operates through three segments: Construction, Large Project Construction, and Construction Materials. The Construction segment undertakes various civil construction projects focusing on new construction and improvement of streets, roads, highways, bridges, site work, underground, power-related facilities, water-related facilities, utilities, and other infrastructure projects.

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