Somewhat Positive Press Coverage Somewhat Unlikely to Affect Granite Construction (GVA) Stock Price
News articles about Granite Construction (NYSE:GVA) have trended somewhat positive recently, Accern Sentiment Analysis reports. Accern identifies positive and negative news coverage by monitoring more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Granite Construction earned a coverage optimism score of 0.19 on Accern’s scale. Accern also gave news headlines about the construction company an impact score of 45.9611274443202 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
These are some of the headlines that may have impacted Accern Sentiment’s scoring:
- Pro-Trader Daily: Corporate News Blog – Granite Receives $23 Million Runway Rehabilitation Project in San Diego (finanznachrichten.de)
- Granite Construction Incorporat (NYSE:GVA) Sees Unusual Trading Volume in Its Shares (4-traders.com)
- Stocks Flashing Renewed Technical Strength: Granite Construction (finance.yahoo.com)
- Granite Awarded USD 23m Runway Rehabilitation Project (financial-news.co.uk)
- Granite Construction : Awarded $23 Million Runway Rehabilitation Project in San Diego (4-traders.com)
Shares of Granite Construction (NYSE:GVA) opened at 58.05 on Friday. The company has a market capitalization of $2.31 billion, a P/E ratio of 52.82 and a beta of 1.17. The stock’s 50 day moving average is $53.41 and its 200 day moving average is $50.59. Granite Construction has a 12 month low of $42.59 and a 12 month high of $62.18.
Granite Construction (NYSE:GVA) last announced its quarterly earnings results on Tuesday, August 1st. The construction company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ 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 analysts’ expectations of $684.32 million. During the same period last year, the company posted $0.35 earnings per share. The business’s quarterly revenue was up 26.2% on a year-over-year basis. On average, equities analysts predict that Granite Construction will post $1.49 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, September 28th. Granite Construction’s dividend payout ratio (DPR) is presently 48.60%.
Several brokerages have recently weighed in on GVA. Cowen and Company reiterated a “buy” rating and set a $70.00 price target on shares of Granite Construction in a research note on Tuesday. Canaccord Genuity reiterated a “buy” rating and set a $70.00 price target on shares of Granite Construction in a research note on Saturday, August 26th. FBR & Co lifted their price target on shares of Granite Construction from $63.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 1st. BidaskClub cut shares of Granite Construction from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Finally, Zacks Investment Research upgraded shares of Granite Construction from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $63.67.
In related news, insider James D. Richards sold 4,000 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $55.50, for a total transaction of $222,000.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.30% of the company’s stock.
About Granite Construction
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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