Equities research analysts expect Granite Construction (NYSE:GVA) to post sales of $848.33 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Granite Construction’s earnings. The lowest sales estimate is $846.66 million and the highest is $850.00 million. Granite Construction reported sales of $762.91 million during the same quarter last year, which indicates a positive year-over-year growth rate of 11.2%. The firm is expected to issue its next quarterly earnings results on Tuesday, August 7th.
On average, analysts expect that Granite Construction will report full year sales of $3.35 billion for the current financial year, with estimates ranging from $3.35 billion to $3.36 billion. For the next year, analysts expect that the company will post sales of $3.65 billion per share, with estimates ranging from $3.59 billion to $3.71 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Granite Construction.
Granite Construction (NYSE:GVA) last announced its quarterly earnings data on Monday, April 30th. The construction company reported ($0.13) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.24. The firm had revenue of $563.40 million during the quarter, compared to analyst estimates of $534.77 million. Granite Construction had a net margin of 2.64% and a return on equity of 8.82%. The business’s quarterly revenue was up 20.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.60) EPS.
GVA has been the subject of a number of recent research reports. Cowen boosted their price objective on shares of Granite Construction from $70.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, January 18th. DA Davidson upgraded shares of Granite Construction from a “neutral” rating to a “buy” rating in a report on Thursday, April 5th. Zacks Investment Research lowered shares of Granite Construction from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Finally, ValuEngine lowered shares of Granite Construction from a “hold” rating to a “sell” rating in a report on Monday, April 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $72.00.
A number of large investors have recently bought and sold shares of GVA. DekaBank Deutsche Girozentrale bought a new stake in Granite Construction during the 1st quarter valued at $137,000. Global X Management Co. LLC raised its holdings in Granite Construction by 75.2% during the 4th quarter. Global X Management Co. LLC now owns 2,760 shares of the construction company’s stock valued at $175,000 after buying an additional 1,185 shares during the last quarter. Advisor Group Inc. raised its holdings in Granite Construction by 65.3% during the 4th quarter. Advisor Group Inc. now owns 3,077 shares of the construction company’s stock valued at $195,000 after buying an additional 1,215 shares during the last quarter. Tocqueville Asset Management L.P. bought a new stake in Granite Construction during the 4th quarter valued at $203,000. Finally, Investment House LLC bought a new stake in Granite Construction during the 4th quarter valued at $214,000. Institutional investors own 95.19% of the company’s stock.
Shares of GVA traded up $0.07 during mid-day trading on Monday, reaching $57.29. The company’s stock had a trading volume of 325,491 shares, compared to its average volume of 312,620. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 35.36, a PEG ratio of 2.44 and a beta of 1.36. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.80 and a current ratio of 1.92. Granite Construction has a 52 week low of $57.14 and a 52 week high of $57.63.
About Granite Construction
Granite Construction Incorporated operates as a heavy civil contractor and a construction materials producer in the United States. The company operates through three segments: Construction, Large Project Construction, and Construction Materials. The Construction segment undertakes various civil construction projects focusing on new construction and improvement of streets, roads, highways, bridges, site work, underground, power-related facilities, water-related facilities, utilities, and other infrastructure projects.
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