Granite Construction Incorporated (NYSE:GVA) – Stock analysts at FBR & Co issued their FY2017 EPS estimates for shares of Granite Construction in a research report issued on Tuesday. FBR & Co analyst A. Rygiel expects that the construction company will post earnings of $1.50 per share for the year. FBR & Co currently has a “Buy” rating and a $68.00 price objective on the stock. FBR & Co also issued estimates for Granite Construction’s Q4 2017 earnings at $0.67 EPS.

GVA has been the subject of several other reports. Cowen and Company reissued a “buy” rating and set a $70.00 target price on shares of Granite Construction in a research report on Tuesday, September 19th. Canaccord Genuity reissued a “buy” rating and set a $70.00 target price on shares of Granite Construction in a research report on Saturday, August 26th. BidaskClub raised shares of Granite Construction from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 6th. Finally, Zacks Investment Research raised shares of Granite Construction from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $63.67.

ILLEGAL ACTIVITY NOTICE: “Brokers Offer Predictions for Granite Construction Incorporated’s FY2017 Earnings (GVA)” was posted by American Banking News and is owned by of American Banking News. If you are reading this news story on another site, it was stolen and reposted in violation of US and international copyright and trademark laws. The original version of this news story can be viewed at https://www.americanbankingnews.com/2017/10/05/brokers-offer-predictions-for-granite-construction-incorporateds-fy2017-earnings-gva.html.

Granite Construction (GVA) opened at 58.48 on Thursday. The stock has a 50 day moving average price of $55.09 and a 200 day moving average price of $51.14. The company has a market cap of $2.33 billion, a PE ratio of 53.21 and a beta of 1.17. Granite Construction has a one year low of $42.59 and a one year high of $62.18.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Thursday, September 28th. Granite Construction’s payout ratio is 48.60%.

In other Granite Construction news, insider James D. Richards sold 4,000 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $55.50, for a total value of $222,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. grew its position in Granite Construction by 19,890.7% in the 1st quarter. BlackRock Inc. now owns 3,988,954 shares of the construction company’s stock worth $200,206,000 after purchasing an additional 3,969,000 shares in the last quarter. Vanguard Group Inc. grew its position in Granite Construction by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 3,354,135 shares of the construction company’s stock worth $161,802,000 after purchasing an additional 62,760 shares in the last quarter. Franklin Resources Inc. grew its position in Granite Construction by 80.4% in the 2nd quarter. Franklin Resources Inc. now owns 1,458,330 shares of the construction company’s stock worth $70,350,000 after purchasing an additional 649,831 shares in the last quarter. State Street Corp grew its position in Granite Construction by 4.5% in the 2nd quarter. State Street Corp now owns 1,278,930 shares of the construction company’s stock worth $61,697,000 after purchasing an additional 55,202 shares in the last quarter. Finally, Northern Trust Corp grew its position in Granite Construction by 6.5% in the 2nd quarter. Northern Trust Corp now owns 1,237,204 shares of the construction company’s stock worth $59,682,000 after purchasing an additional 75,265 shares in the last quarter. 98.55% of the stock is owned by institutional investors and hedge funds.

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.

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

Receive News & Ratings for Granite Construction Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Granite Construction Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.