Granite Construction Inc. (NYSE:GVA) – Investment analysts at B. Riley issued their Q1 2018 EPS estimates for Granite Construction in a research note issued to investors on Tuesday. B. Riley analyst A. Rygiel expects that the construction company will post earnings per share of ($0.37) for the quarter. B. Riley currently has a “Buy” rating on the stock. B. Riley also issued estimates for Granite Construction’s Q4 2018 earnings at $1.24 EPS and FY2018 earnings at $3.25 EPS.
Granite Construction (NYSE:GVA) last posted its earnings results on Friday, February 16th. The construction company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. Granite Construction had a net margin of 2.31% and a return on equity of 6.97%. The business had revenue of $801.30 million during the quarter, compared to the consensus estimate of $753.83 million. During the same quarter in the previous year, the firm posted $0.40 EPS. The firm’s revenue was up 20.2% on a year-over-year basis.
A number of other equities research analysts also recently commented on GVA. DA Davidson reaffirmed a “hold” rating and issued a $65.00 target price on shares of Granite Construction in a research report on Monday, October 30th. Canaccord Genuity lifted their target price on shares of Granite Construction from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, October 30th. Zacks Investment Research raised shares of Granite Construction from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a research report on Tuesday, October 31st. Finally, Cowen lifted their target price on shares of Granite Construction from $70.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $69.38.
Shares of Granite Construction (GVA) opened at $59.54 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.88 and a quick ratio of 1.78. Granite Construction has a 1 year low of $45.14 and a 1 year high of $68.58. The company has a market cap of $2,393.42, a P/E ratio of 35.02, a price-to-earnings-growth ratio of 2.55 and a beta of 1.21.
Hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio boosted its holdings in Granite Construction by 7.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,282 shares of the construction company’s stock worth $158,000 after buying an additional 218 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Granite Construction by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 87,919 shares of the construction company’s stock worth $4,241,000 after buying an additional 372 shares during the period. Royal Bank of Canada boosted its holdings in Granite Construction by 56.3% in the 2nd quarter. Royal Bank of Canada now owns 2,441 shares of the construction company’s stock worth $118,000 after buying an additional 879 shares during the period. Teachers Advisors LLC boosted its holdings in Granite Construction by 1.3% in the 4th quarter. Teachers Advisors LLC now owns 73,768 shares of the construction company’s stock worth $4,679,000 after buying an additional 923 shares during the period. Finally, New York State Common Retirement Fund boosted its holdings in Granite Construction by 2.4% in the 2nd quarter. New York State Common Retirement Fund now owns 42,700 shares of the construction company’s stock worth $2,060,000 after buying an additional 999 shares during the period. 96.80% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Claes Bjork sold 1,264 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $63.05, for a total transaction of $79,695.20. Following the completion of the sale, the director now owns 50,972 shares of the company’s stock, valued at approximately $3,213,784.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Friday, March 30th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Wednesday, March 28th. Granite Construction’s payout ratio is 30.59%.
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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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