Wall Street brokerages forecast that Granite Construction Incorporated (NYSE:GVA – Get Rating) will report ($0.31) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Granite Construction’s earnings. Granite Construction posted earnings per share of ($0.11) in the same quarter last year, which would suggest a negative year-over-year growth rate of 181.8%. The firm is expected to issue its next earnings report before the market opens on Monday, January 1st.
On average, analysts expect that Granite Construction will report full-year earnings of $1.97 per share for the current year. For the next financial year, analysts forecast that the firm will post earnings of $2.75 per share. Zacks’ EPS calculations are a mean average based on a survey of research firms that that provide coverage for Granite Construction.
Granite Construction (NYSE:GVA – Get Rating) last announced its quarterly earnings data on Friday, February 25th. The construction company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.34). Granite Construction had a return on equity of 8.37% and a net margin of 0.30%. The firm had revenue of $683.20 million for the quarter. During the same quarter in the previous year, the business earned $0.41 EPS.
GVA traded down $1.13 during trading hours on Friday, hitting $30.68. 193,780 shares of the stock were exchanged, compared to its average volume of 390,452. The stock has a 50-day simple moving average of $32.39 and a 200-day simple moving average of $36.55. Granite Construction has a 12 month low of $27.84 and a 12 month high of $44.31. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 219.16 and a beta of 1.44. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.71 and a quick ratio of 1.65.
The firm also recently declared a quarterly dividend, which was paid on Thursday, April 14th. Stockholders of record on Thursday, March 31st were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend was Wednesday, March 30th. Granite Construction’s dividend payout ratio (DPR) is 371.46%.
Several institutional investors and hedge funds have recently modified their holdings of the company. Rock Point Advisors LLC increased its holdings in shares of Granite Construction by 0.3% during the third quarter. Rock Point Advisors LLC now owns 138,945 shares of the construction company’s stock valued at $5,495,000 after purchasing an additional 460 shares during the period. Captrust Financial Advisors grew its holdings in Granite Construction by 11.6% during the third quarter. Captrust Financial Advisors now owns 4,487 shares of the construction company’s stock worth $178,000 after acquiring an additional 467 shares during the period. Swiss National Bank grew its holdings in Granite Construction by 0.5% during the third quarter. Swiss National Bank now owns 101,200 shares of the construction company’s stock worth $4,002,000 after acquiring an additional 500 shares during the period. Royce & Associates LP grew its holdings in Granite Construction by 3.4% during the fourth quarter. Royce & Associates LP now owns 16,099 shares of the construction company’s stock worth $623,000 after acquiring an additional 533 shares during the period. Finally, US Bancorp DE grew its holdings in Granite Construction by 20.2% during the third quarter. US Bancorp DE now owns 3,356 shares of the construction company’s stock worth $133,000 after acquiring an additional 563 shares during the period. 96.69% of the stock is currently owned by institutional investors.
About Granite Construction (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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