Press coverage about Granite Construction (NYSE:GVA) has been trending somewhat positive this week, according to Accern Sentiment. Accern identifies negative and positive news coverage by monitoring more than twenty million news and blog 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 0.23 on Accern’s scale. Accern also assigned news headlines about the construction company an impact score of 46.5867805435124 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
Granite Construction (NYSE:GVA) traded up $0.05 during trading hours on Monday, reaching $65.68. 224,389 shares of the company’s stock traded hands, compared to its average volume of 385,595. The company has a quick ratio of 1.71, a current ratio of 1.79 and a debt-to-equity ratio of 0.24. The firm has a market cap of $2,615.41, a price-to-earnings ratio of 50.88, a price-to-earnings-growth ratio of 5.76 and a beta of 1.24. Granite Construction has a 12 month low of $45.14 and a 12 month high of $67.39.
Granite Construction (NYSE:GVA) last posted its earnings results on Friday, October 27th. The construction company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.04. The company had revenue of $957.10 million for the quarter, compared to analyst estimates of $905.14 million. Granite Construction had a net margin of 1.84% and a return on equity of 5.71%. Granite Construction’s revenue was up 19.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.92 EPS. sell-side analysts anticipate that Granite Construction will post 1.63 EPS for the current year.
Several analysts recently issued reports on GVA shares. Zacks Investment Research raised shares of Granite Construction from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Friday, October 13th. Canaccord Genuity reaffirmed a “buy” rating and set a $70.00 price objective on shares of Granite Construction in a research note on Saturday, August 26th. DA Davidson reaffirmed a “hold” rating and set a $65.00 price objective on shares of Granite Construction in a research note on Monday, October 30th. Cowen reaffirmed a “buy” rating and set a $70.00 price objective on shares of Granite Construction in a research note on Tuesday, September 19th. Finally, Seaport Global Securities cut shares of Granite Construction from a “buy” rating to a “neutral” rating and set a $64.00 price objective for the company. in a research note on Wednesday, October 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. Granite Construction presently has a consensus rating of “Buy” and a consensus target price of $67.00.
In other Granite Construction news, Director William Howard Powell sold 3,103 shares of the business’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $63.85, for a total value of $198,126.55. Following the transaction, the director now directly owns 46,771 shares in the company, valued at approximately $2,986,328.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.
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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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