$0.97 EPS Expected for Granite Construction Inc. (GVA) This Quarter

Equities analysts expect Granite Construction Inc. (NYSE:GVA) to post $0.97 earnings per share for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Granite Construction’s earnings. The highest EPS estimate is $1.06 and the lowest is $0.87. Granite Construction posted earnings per share of $0.72 during the same quarter last year, which indicates a positive year over year growth rate of 34.7%. The firm is expected to announce its next quarterly earnings report on Friday, February 15th.

According to Zacks, analysts expect that Granite Construction will report full year earnings of $1.91 per share for the current year, with EPS estimates ranging from $1.87 to $1.94. For the next fiscal year, analysts anticipate that the business will report earnings of $4.33 per share, with EPS estimates ranging from $4.05 to $4.73. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Granite Construction.

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



Several equities research analysts have recently issued reports on the company. Zacks Investment Research raised Granite Construction from a “hold” rating to a “strong-buy” rating and set a $62.00 price objective for the company in a research note on Wednesday, August 1st. ValuEngine lowered Granite Construction from a “hold” rating to a “sell” rating in a research note on Wednesday, July 25th. Canaccord Genuity reaffirmed a “buy” rating and issued a $65.00 price objective (down from $75.00) on shares of Granite Construction in a research note on Thursday, August 9th. MKM Partners set a $55.00 price objective on Granite Construction and gave the company a “buy” rating in a research note on Tuesday. Finally, DA Davidson set a $60.00 price objective on Granite Construction and gave the company a “buy” rating in a research note on Monday. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $65.40.

In related news, Director Claes Bjork acquired 6,500 shares of the stock in a transaction dated Tuesday, August 14th. The stock was acquired at an average cost of $44.25 per share, with a total value of $287,625.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the stock. Oregon Public Employees Retirement Fund lifted its stake in shares of Granite Construction by 17.0% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 18,042 shares of the construction company’s stock worth $825,000 after acquiring an additional 2,624 shares during the last quarter. Frontier Capital Management Co. LLC lifted its stake in shares of Granite Construction by 16.9% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 511,197 shares of the construction company’s stock worth $23,362,000 after acquiring an additional 74,046 shares during the last quarter. Palouse Capital Management Inc. bought a new stake in shares of Granite Construction during the 3rd quarter worth approximately $312,000. Russell Investments Group Ltd. lifted its stake in shares of Granite Construction by 211.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 282,616 shares of the construction company’s stock worth $12,913,000 after acquiring an additional 192,011 shares during the last quarter. Finally, Carnick & Kubik Group LLC bought a new stake in shares of Granite Construction during the 3rd quarter worth approximately $283,000. 96.19% of the stock is owned by hedge funds and other institutional investors.

NYSE:GVA opened at $45.72 on Thursday. The company has a market capitalization of $2.07 billion, a PE ratio of 28.22, a P/E/G ratio of 2.48 and a beta of 1.21. Granite Construction has a 1 year low of $39.51 and a 1 year high of $68.58. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.84 and a quick ratio of 1.73.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Friday, September 28th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend was Thursday, September 27th. Granite Construction’s payout ratio is 32.10%.

Granite Construction Company Profile

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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Earnings History and Estimates for Granite Construction (NYSE:GVA)

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