Analysts expect Granite Construction Inc. (NYSE:GVA) to report earnings per share of ($0.26) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Granite Construction’s earnings, with the highest EPS estimate coming in at ($0.05) and the lowest estimate coming in at ($0.37). Granite Construction reported earnings of ($0.60) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 56.7%. The firm is scheduled to issue its next earnings results on Tuesday, May 1st.
On average, analysts expect that Granite Construction will report full-year earnings of $3.27 per share for the current fiscal year, with EPS estimates ranging from $3.06 to $3.47. For the next fiscal year, analysts forecast that the company will post earnings of $4.32 per share, with EPS estimates ranging from $4.00 to $4.64. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for Granite Construction.
Granite Construction (NYSE:GVA) last released its earnings results on Friday, February 16th. The construction company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.68 by $0.04. Granite Construction had a return on equity of 6.97% and a net margin of 2.31%. The business had revenue of $801.30 million during the quarter, compared to analysts’ expectations of $753.83 million. During the same quarter last year, the firm posted $0.40 earnings per share. The firm’s revenue was up 20.2% on a year-over-year basis.
In other Granite Construction news, Director Claes Bjork sold 1,264 shares of the 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 transaction, the director now owns 50,972 shares in the company, valued at $3,213,784.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the business. Fieldpoint Private Securities LLC bought a new position in shares of Granite Construction in the third quarter valued at approximately $106,000. Advisor Group Inc. lifted its holdings in shares of Granite Construction by 169.1% in the third quarter. Advisor Group Inc. now owns 1,862 shares of the construction company’s stock valued at $108,000 after purchasing an additional 1,170 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Granite Construction by 56.3% in the second quarter. Royal Bank of Canada now owns 2,441 shares of the construction company’s stock valued at $118,000 after purchasing an additional 879 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Granite Construction by 7.1% in the second quarter. Public Employees Retirement System of Ohio now owns 3,282 shares of the construction company’s stock valued at $158,000 after purchasing an additional 218 shares in the last quarter. Finally, Global X Management Co. LLC lifted its holdings in shares of Granite Construction by 75.2% in the fourth quarter. Global X Management Co. LLC now owns 2,760 shares of the construction company’s stock valued at $175,000 after purchasing an additional 1,185 shares in the last quarter. Institutional investors and hedge funds own 96.80% of the company’s stock.
Granite Construction (NYSE:GVA) traded down $0.14 during midday trading on Monday, reaching $60.38. The company had a trading volume of 42,818 shares, compared to its average volume of 297,163. Granite Construction has a fifty-two week low of $45.14 and a fifty-two week high of $68.58. The firm has a market capitalization of $2,414.16, a PE ratio of 35.42, a P/E/G ratio of 2.65 and a beta of 1.21. The company has a quick ratio of 1.78, a current ratio of 1.88 and a debt-to-equity ratio of 0.18.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Friday, March 30th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.52 annualized dividend and a yield of 0.86%. Granite Construction’s payout ratio is currently 30.59%.
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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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