Wall Street analysts expect Granite Construction Incorporated (NYSE:GVA) to announce sales of $919.41 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Granite Construction’s earnings. The lowest sales estimate is $903.63 million and the highest is $932.00 million. Granite Construction posted sales of $803.91 million in the same quarter last year, which suggests a positive year-over-year growth rate of 14.4%. The business is scheduled to report its next earnings report on Friday, October 27th.

According to Zacks, analysts expect that Granite Construction will report full year sales of $919.41 million for the current financial year, with estimates ranging from $2.89 billion to $2.98 billion. For the next year, analysts forecast that the company will report sales of $3.23 billion per share, with estimates ranging from $3.11 billion to $3.37 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Granite Construction.

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

Several analysts have recently weighed in on the stock. Canaccord Genuity reissued a “buy” rating and issued a $70.00 price target on shares of Granite Construction in a research note on Tuesday, August 1st. FBR & Co dropped their price target on shares of Granite Construction from $67.00 to $63.00 and set an “outperform” rating for the company in a research note on Wednesday, May 3rd. BidaskClub raised shares of Granite Construction from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 6th. Finally, Zacks Investment Research raised shares of Granite Construction from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. Granite Construction has a consensus rating of “Buy” and an average price target of $62.14.

In other news, Director James Hildebrand Roberts sold 17,442 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $50.34, for a total value 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 accessible through this hyperlink. Also, Director William Howard Powell sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $49.60, for a total transaction of $148,800.00. Following the completion of 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. Corporate insiders own 1.30% of the company’s stock.

Several institutional investors have recently modified their holdings of GVA. Greenwood Capital Associates LLC raised its position in shares of Granite Construction by 1.9% in the second quarter. Greenwood Capital Associates LLC now owns 4,906 shares of the construction company’s stock valued at $237,000 after buying an additional 92 shares in the last quarter. First National Bank of Omaha raised its position in shares of Granite Construction by 0.4% in the second quarter. First National Bank of Omaha now owns 30,058 shares of the construction company’s stock valued at $1,450,000 after buying an additional 110 shares in the last quarter. Liberty Mutual Group Asset Management Inc. raised its position in shares of Granite Construction by 0.7% in the first quarter. Liberty Mutual Group Asset Management Inc. now owns 17,930 shares of the construction company’s stock valued at $900,000 after buying an additional 130 shares in the last quarter. Dubuque Bank & Trust Co. raised its position in shares of Granite Construction by 3.0% in the second quarter. Dubuque Bank & Trust Co. now owns 5,082 shares of the construction company’s stock valued at $245,000 after buying an additional 149 shares in the last quarter. Finally, Advantus Capital Management Inc raised its position in shares of Granite Construction by 3.1% in the first quarter. Advantus Capital Management Inc now owns 5,073 shares of the construction company’s stock valued at $255,000 after buying an additional 151 shares in the last quarter. Hedge funds and other institutional investors own 93.96% of the company’s stock.

Shares of Granite Construction (GVA) opened at 52.36 on Friday. Granite Construction has a 52 week low of $42.59 and a 52 week high of $62.18. The company has a market cap of $2.09 billion, a P/E ratio of 47.64 and a beta of 1.20. The firm has a 50-day moving average of $50.13 and a 200 day moving average of $50.93.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were issued a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $0.52 annualized dividend and a dividend yield of 0.99%. Granite Construction’s dividend payout ratio is currently 48.60%.

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

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