Granite Construction Incorporated (NYSE:GVA) – Griffin Securities issued their Q2 2018 EPS estimates for shares of Granite Construction in a research note issued to investors on Wednesday. Griffin Securities analyst M. Ajzenman forecasts that the construction company will earn $0.87 per share for the quarter. Griffin Securities also issued estimates for Granite Construction’s Q3 2018 earnings at $1.44 EPS and Q4 2018 earnings at $0.87 EPS.

Other equities analysts have also recently issued reports about the company. FBR & Co increased their price target on Granite Construction from $63.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, August 1st. Canaccord Genuity restated a “buy” rating and set a $70.00 price target on shares of Granite Construction in a report on Wednesday, May 3rd. BidaskClub upgraded Granite Construction from a “strong sell” rating to a “sell” rating in a report on Thursday, July 6th. Finally, Zacks Investment Research upgraded Granite Construction from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. Granite Construction presently has a consensus rating of “Buy” and a consensus price target of $62.14.

COPYRIGHT VIOLATION NOTICE: “Granite Construction Incorporated Expected to Earn Q2 2018 Earnings of $0.87 Per Share (GVA)” was originally reported by Daily Political and is the property of of Daily Political. If you are viewing this story on another site, it was stolen and republished in violation of international copyright and trademark law. The legal version of this story can be viewed at https://www.dailypolitical.com/2017/08/08/granite-construction-incorporated-expected-to-earn-q2-2018-earnings-of-0-87-per-share-gva.html.

Shares of Granite Construction (NYSE GVA) traded up 1.71% on Monday, reaching $54.12. 84,069 shares of the company’s stock were exchanged. Granite Construction has a 52-week low of $42.59 and a 52-week high of $62.18. The stock has a market cap of $2.16 billion, a P/E ratio of 49.24 and a beta of 1.20. The company’s 50 day moving average price is $49.23 and its 200-day moving average price is $50.96.

Granite Construction (NYSE:GVA) last released its quarterly earnings data on Tuesday, August 1st. The construction company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.60 by $0.25. Granite Construction had a return on equity of 4.80% and a net margin of 1.61%. The firm had revenue of $762.90 million for the quarter, compared to the consensus estimate of $684.32 million. During the same period in the previous year, the business earned $0.35 EPS. The firm’s revenue was up 26.2% compared to the same quarter last year.

A number of institutional investors have recently modified their holdings of the stock. State of New Jersey Common Pension Fund D boosted its position in shares of Granite Construction by 39.7% in the first quarter. State of New Jersey Common Pension Fund D now owns 510,000 shares of the construction company’s stock valued at $25,597,000 after buying an additional 145,000 shares during the period. Sapphire Star Partners LP boosted its position in shares of Granite Construction by 9.4% in the first quarter. Sapphire Star Partners LP now owns 7,008 shares of the construction company’s stock valued at $352,000 after buying an additional 604 shares during the period. Dubuque Bank & Trust Co. bought a new position in shares of Granite Construction during the first quarter valued at $248,000. Independent Portfolio Consultants Inc. boosted its position in shares of Granite Construction by 19.8% in the first quarter. Independent Portfolio Consultants Inc. now owns 19,710 shares of the construction company’s stock valued at $989,000 after buying an additional 3,260 shares during the period. Finally, Profund Advisors LLC boosted its position in shares of Granite Construction by 3.5% in the first quarter. Profund Advisors LLC now owns 6,667 shares of the construction company’s stock valued at $335,000 after buying an additional 228 shares during the period. Institutional investors and hedge funds own 93.96% of the company’s stock.

In other Granite Construction news, Director James Hildebrand Roberts sold 17,442 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $50.34, for a total transaction of $878,030.28. Following the transaction, the director now directly owns 54,594 shares in the company, valued at approximately $2,748,261.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William Howard Powell sold 3,000 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $49.60, for a total value of $148,800.00. Following the transaction, the director now owns 49,858 shares in the company, valued at $2,472,956.80. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

The company also recently announced a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date was Wednesday, June 28th. Granite Construction’s dividend payout ratio is currently 48.60%.

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.

Earnings History and Estimates for Granite Construction (NYSE:GVA)

Receive News & Ratings for Granite Construction Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Granite Construction Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.