Granite Construction (GVA) Set to Announce Earnings on Thursday

Granite Construction (NYSE:GVAGet Rating) will announce its earnings results before the market opens on Thursday, April 28th. Analysts expect the company to announce earnings of ($0.31) per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Granite Construction (NYSE:GVAGet Rating) last posted its quarterly earnings results on Friday, February 25th. The construction company reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.34). The business had revenue of $683.20 million for the quarter. Granite Construction had a net margin of 0.30% and a return on equity of 8.37%. During the same quarter in the previous year, the company posted $0.41 earnings per share. On average, analysts expect Granite Construction to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

NYSE:GVA opened at $32.56 on Thursday. The company has a quick ratio of 1.65, a current ratio of 1.71 and a debt-to-equity ratio of 0.33. The business’s 50-day simple moving average is $32.46 and its two-hundred day simple moving average is $36.61. The stock has a market cap of $1.49 billion, a PE ratio of 232.59 and a beta of 1.44. Granite Construction has a 52 week low of $27.84 and a 52 week high of $44.31.

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 14th. Shareholders of record on Thursday, March 31st were issued a dividend of $0.13 per share. The ex-dividend date was Wednesday, March 30th. This represents a $0.52 dividend on an annualized basis and a yield of 1.60%. Granite Construction’s dividend payout ratio is presently 371.46%.

A number of research analysts have recently weighed in on the company. Sidoti assumed coverage on Granite Construction in a research report on Thursday, December 30th. They set a “buy” rating and a $50.00 price objective for the company. Zacks Investment Research lowered Granite Construction from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 2nd. Finally, StockNews.com assumed coverage on Granite Construction in a research report on Thursday, March 31st. They set a “hold” rating for the company.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GVA. LPL Financial LLC grew its position in Granite Construction by 26.6% in the fourth quarter. LPL Financial LLC now owns 9,144 shares of the construction company’s stock worth $354,000 after acquiring an additional 1,922 shares in the last quarter. Squarepoint Ops LLC purchased a new position in Granite Construction in the fourth quarter worth about $361,000. Jaffetilchin Investment Partners LLC grew its position in Granite Construction by 8.2% in the fourth quarter. Jaffetilchin Investment Partners LLC now owns 11,290 shares of the construction company’s stock worth $437,000 after acquiring an additional 859 shares in the last quarter. Deutsche Bank AG grew its position in Granite Construction by 4.4% in the fourth quarter. Deutsche Bank AG now owns 30,739 shares of the construction company’s stock worth $1,190,000 after acquiring an additional 1,300 shares in the last quarter. Finally, Sei Investments Co. grew its position in Granite Construction by 35.6% in the fourth quarter. Sei Investments Co. now owns 51,162 shares of the construction company’s stock worth $1,982,000 after acquiring an additional 13,442 shares in the last quarter. Institutional investors own 96.69% of the company’s stock.

Granite Construction Company Profile (Get Rating)

Granite Construction Incorporated operates as an infrastructure contractor and a construction materials producer 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.

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Earnings History for Granite Construction (NYSE:GVA)

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