Equities research analysts predict that Granite Construction Inc. (NYSE:GVA) will report sales of $952.36 million for the current quarter, according to Zacks. Two analysts have made estimates for Granite Construction’s earnings, with the highest sales estimate coming in at $975.00 million and the lowest estimate coming in at $929.72 million. Granite Construction reported sales of $807.12 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 18%. The firm is expected to announce its next earnings report on Wednesday, August 14th.
On average, analysts expect that Granite Construction will report full year sales of $3.71 billion for the current year, with estimates ranging from $3.68 billion to $3.74 billion. For the next financial year, analysts expect that the business will post sales of $4.05 billion, with estimates ranging from $3.93 billion to $4.18 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Granite Construction.
Granite Construction (NYSE:GVA) last announced its quarterly earnings results on Friday, April 26th. The construction company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.35). The company had revenue of $619.80 million for the quarter, compared to analyst estimates of $644.46 million. Granite Construction had a return on equity of 6.03% and a net margin of 0.57%. Granite Construction’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.13) earnings per share.
A number of hedge funds have recently bought and sold shares of GVA. NumerixS Investment Technologies Inc acquired a new stake in Granite Construction in the 4th quarter worth about $48,000. Tompkins Financial Corp boosted its holdings in Granite Construction by 47.8% in the 1st quarter. Tompkins Financial Corp now owns 1,700 shares of the construction company’s stock worth $73,000 after buying an additional 550 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in Granite Construction in the 1st quarter worth about $206,000. Fagan Associates Inc. acquired a new stake in Granite Construction in the 1st quarter worth about $208,000. Finally, Neuburgh Advisers LLC boosted its holdings in Granite Construction by 15.9% in the 4th quarter. Neuburgh Advisers LLC now owns 5,302 shares of the construction company’s stock worth $214,000 after buying an additional 726 shares during the last quarter. Institutional investors own 98.59% of the company’s stock.
GVA traded up $0.62 during midday trading on Friday, hitting $41.87. 371,328 shares of the company were exchanged, compared to its average volume of 444,883. The business has a 50 day moving average of $44.13. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 17.89, a price-to-earnings-growth ratio of 2.08 and a beta of 1.34. The company has a quick ratio of 1.97, a current ratio of 2.12 and a debt-to-equity ratio of 0.24. Granite Construction has a 1-year low of $38.55 and a 1-year high of $58.93.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend was Thursday, June 27th. Granite Construction’s payout ratio is 22.22%.
Granite Construction Company Profile
Granite Construction Incorporated operates as an infrastructure contractor and a construction materials producer in the United States. The company operates through Transportation, Water, Specialty, and Materials segments. The Transportation segment engages in the construction and rehabilitation of roads, pavement preservation, bridges, rail lines, airports, and marine ports.
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