Granite Construction (GVA) Earning Somewhat Positive News Coverage, Analysis Shows
Headlines about Granite Construction (NYSE:GVA) have been trending somewhat positive recently, according to AlphaOne Sentiment. The research firm, a service of Accern, rates the sentiment of media coverage by monitoring more than 20 million news and blog sources in real time. AlphaOne ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Granite Construction earned a news impact score of 0.13 on AlphaOne’s scale. AlphaOne also gave news headlines about the construction company an impact score of 65 out of 100, meaning that recent media coverage is somewhat likely to have an impact on the stock’s share price in the immediate future.
Here are some of the news headlines that may have impacted Alpha One Sentiment’s analysis:
- Granite Construction Declares Quarterly Dividend (finance.yahoo.com)
- Granite Construction (GVA) & Great Lakes Dredge & Dock Co. (GLDD) Head to Head Comparison (americanbankingnews.com)
- Granite Awarded $54 Million Highway Rehabilitation Project in Alaska (finance.yahoo.com)
- $678.43 Million in Sales Expected for Granite Construction Inc. (GVA) This Quarter (americanbankingnews.com)
- Brokerages Anticipate Granite Construction Inc. (GVA) to Announce $0.60 Earnings Per Share (americanbankingnews.com)
GVA has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Granite Construction from a “sell” rating to a “hold” rating in a research note on Tuesday, February 14th. Griffin Securities reiterated a “buy” rating on shares of Granite Construction in a research note on Friday, March 10th. Goldman Sachs Group Inc raised shares of Granite Construction from a “neutral” rating to a “buy” rating and boosted their price target for the company from $50.19 to $61.00 in a report on Monday, April 3rd. MKM Partners reissued a “buy” rating and issued a $62.00 price target on shares of Granite Construction in a report on Wednesday, March 15th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $70.00 price target on shares of Granite Construction in a report on Wednesday, March 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. Granite Construction presently has an average rating of “Buy” and an average price target of $61.25.
Shares of Granite Construction (GVA) traded up 2.34% during midday trading on Thursday, reaching $47.61. 292,924 shares of the company’s stock traded hands. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 44.00 and a beta of 1.47. Granite Construction has a 52-week low of $41.27 and a 52-week high of $62.18. The stock has a 50 day moving average of $49.65 and a 200-day moving average of $53.25.
Granite Construction (NYSE:GVA) last posted its earnings results on Tuesday, May 2nd. The construction company reported ($0.60) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.25) by $0.35. Granite Construction had a return on equity of 7.85% and a net margin of 2.77%. The firm had revenue of $468.40 million for the quarter, compared to analyst estimates of $458.65 million. During the same period in the prior year, the business posted ($0.26) EPS. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, equities research analysts expect that Granite Construction will post $1.82 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.09%. Granite Construction’s dividend payout ratio is currently 30.41%.
In other news, insider Laurel J. Krzeminski sold 3,174 shares of Granite Construction stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $50.11, for a total transaction of $159,049.14. Following the completion of the sale, the insider now owns 54,854 shares of the company’s stock, valued at $2,748,733.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is currently owned by company insiders.
Granite Construction Company Profile
Granite Construction Incorporated is a heavy civil contractor and construction materials producer in the United States. The Company operates through three segments: Construction, Large Project Construction and Construction Materials. The Company operates across the nation, serving both public and private sector clients.
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