$ 0.44 earnings per share expected for Granite Construction Incorporated (NYSE: GVA) this quarter
Brokerages expect Granite Construction Incorporated (NYSE: GVA) to report earnings of $ 0.44 per share for the current quarter, Zacks investment research reports. Zero analysts provided revenue estimates for Granite Construction. Granite Construction reported earnings per share of $ 0.07 for the same quarter last year, suggesting a positive year-over-year growth rate of 528.6%. The company is expected to announce its next quarterly results before the market opens on Thursday, July 29.
According to Zacks, analysts expect Granite Construction to report annual earnings of $ 1.68 per share for the current year. For next year, analysts expect the company to post earnings of $ 1.74 per share. Zacks’ EPS calculations are an average based on a survey of sales-side research companies that track Granite Construction.
Granite Construction (NYSE: GVA) last reported its quarterly results on Thursday, May 6. The construction company reported ($ 1.45) EPS for the quarter, missing Zacks’ consensus estimate of ($ 0.64) by ($ 0.81). Granite Construction recorded a negative net margin of 4.06% and a positive return on equity of 5.83%. The company achieved sales of $ 669.91 million in the quarter.
Several brokerage firms have published reports on GVA. DA Davidson downgraded Granite Construction shares from a ‘neutral’ to a ‘buy’ rating and raised its price target for the stock from $ 35 to $ 55 in a research report on Thursday 15 April. Zacks investment research reduced Granite Construction shares from a “buy” note to a “hold” note in a research note on Monday, July 12.
NYSE GVA opened at $ 37.26 on Monday. The company has a leverage ratio of 0.36, a current ratio of 1.45, and a quick ratio of 1.36. The company has a fifty-day moving average of $ 39.84. The stock has a market cap of $ 1.71 billion, a P / E ratio of -11.61 and a beta of 1.55. Granite Construction has a 12 month minimum of $ 16.51 and a 12 month maximum of $ 44.31.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 15. Investors of record on Wednesday, June 30 received a dividend of $ 0.13. This represents an annualized dividend of $ 0.52 and a dividend yield of 1.40%. The ex-dividend date of this dividend was Tuesday, June 29. Granite Construction’s dividend payout ratio (DPR) is 40.00%.
A number of institutional investors and hedge funds have recently changed their positions in GVA. Vantage Consulting Group Inc acquired a new position in Granite Construction during the fourth quarter valued at approximately $ 37,000. Harvest Fund Management Co. Ltd. acquired a new position in Granite Construction during the first quarter valued at approximately $ 77,000. Eaton Vance Management acquired a new position in Granite Construction during the first quarter valued at approximately $ 92,000. Rowland & Co. Investment Counsel ADV acquired a new position in Granite Construction during the first quarter valued at approximately $ 104,000. Finally, US Bancorp DE increased its position in Granite Construction by 13.8% during the first quarter. US Bancorp DE now owns 2,731 shares of the construction company valued at $ 110,000 after acquiring 332 additional shares in the last quarter. Institutional investors hold 95.10% of the shares of the company.
Granite Construction Company Profile
Granite Construction Incorporated operates as an infrastructure contractor and producer of building materials in the United States. The company operates in the transportation, water, specialty and materials sectors. The Transport segment deals with the construction and rehabilitation of roads, the preservation of pavements, bridges, railways, airports and seaports.
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