Granite Construction (GVA) Scheduled to Post Quarterly Earnings on Thursday

Granite Construction (NYSE:GVA) is scheduled to issue its quarterly earnings data before the market opens on Thursday, May 2nd. Analysts expect the company to announce earnings of ($0.49) per share for the quarter. Granite Construction has set its FY 2024 guidance at EPS.Parties that are interested in participating in the company’s conference call can do so using this link.

Granite Construction (NYSE:GVA) last released its quarterly earnings data on Thursday, February 22nd. The construction company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). Granite Construction had a net margin of 1.24% and a return on equity of 14.15%. The business had revenue of $933.70 million during the quarter. During the same quarter last year, the business earned $0.56 earnings per share. On average, analysts expect Granite Construction to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Granite Construction Stock Down 0.8 %

Granite Construction stock opened at $54.48 on Thursday. Granite Construction has a 1-year low of $33.74 and a 1-year high of $57.93. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of 71.68 and a beta of 1.46. The firm’s fifty day moving average price is $53.70 and its two-hundred day moving average price is $48.19. The company has a current ratio of 1.60, a quick ratio of 1.49 and a debt-to-equity ratio of 0.60.

Granite Construction Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date was Wednesday, March 27th. Granite Construction’s payout ratio is currently 68.42%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GVA shares. The Goldman Sachs Group boosted their target price on shares of Granite Construction from $44.00 to $50.00 and gave the company a “sell” rating in a research note on Tuesday, April 16th. DA Davidson boosted their target price on shares of Granite Construction from $60.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th.

Insider Activity

In other news, Director Louis E. Caldera sold 1,263 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $50.00, for a total transaction of $63,150.00. Following the sale, the director now owns 8,528 shares of the company’s stock, valued at approximately $426,400. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.54% of the company’s stock.

About Granite Construction

Granite Construction Incorporated operates as an infrastructure contractor in the United States. It operates through two segments: Construction and Materials segments. The Construction segment engages in the construction and rehabilitation of roads, pavement preservation, bridges, rail lines, airports, marine ports, dams, reservoirs, aqueducts, infrastructure, and site development for use by the public and water-related construction for municipal agencies, commercial water suppliers, industrial facilities, and energy companies; and construction of various complex projects, including infrastructure/site development, mining, public safety, tunnel, solar storage, and power related projects.