Granite Construction Incorporated (NYSE:GVA) – Analysts at Seaport Global Securities issued their FY2019 earnings per share (EPS) estimates for Granite Construction in a research note issued to investors on Wednesday. Seaport Global Securities analyst M. Shlisky expects that the construction company will earn $3.55 per share for the year. Seaport Global Securities has a “Neutral” rating and a $64.00 price objective on the stock.

Several other analysts have also recently commented on the stock. FBR & Co reaffirmed a “buy” rating and issued a $68.00 target price on shares of Granite Construction in a research note on Tuesday, October 3rd. Cowen and Company reaffirmed a “buy” rating and issued a $70.00 target price on shares of Granite Construction in a research note on Tuesday, September 19th. Canaccord Genuity reaffirmed a “buy” rating and issued a $70.00 target price on shares of Granite Construction in a research note on Saturday, August 26th. BidaskClub cut shares of Granite Construction from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. 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 analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $63.71.

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Granite Construction (NYSE GVA) traded up 0.21% during midday trading on Thursday, hitting $58.35. The stock had a trading volume of 103,362 shares. The stock has a 50-day moving average price of $56.42 and a 200 day moving average price of $51.58. The firm has a market cap of $2.32 billion, a P/E ratio of 53.09 and a beta of 1.17. Granite Construction has a 12-month low of $42.59 and a 12-month high of $62.18.

Granite Construction (NYSE:GVA) last posted its quarterly earnings results on Tuesday, August 1st. The construction company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.25). The company had revenue of $762.90 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 26.2% on a year-over-year basis. During the same quarter last year, the company earned $0.35 earnings per share.

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

In other Granite Construction news, insider James D. Richards sold 4,000 shares of Granite Construction stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $55.50, for a total value of $222,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in GVA. BlackRock Inc. grew its stake in shares of Granite Construction by 19,890.7% during the 1st quarter. BlackRock Inc. now owns 3,988,954 shares of the construction company’s stock valued at $200,206,000 after buying an additional 3,969,000 shares during the period. Franklin Resources Inc. grew its stake in shares of Granite Construction by 80.4% during the 2nd quarter. Franklin Resources Inc. now owns 1,458,330 shares of the construction company’s stock valued at $70,350,000 after buying an additional 649,831 shares during the period. Voya Investment Management LLC grew its stake in shares of Granite Construction by 3,702.5% during the 2nd quarter. Voya Investment Management LLC now owns 614,566 shares of the construction company’s stock valued at $29,647,000 after buying an additional 598,404 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Granite Construction by 39.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,131,699 shares of the construction company’s stock valued at $54,594,000 after buying an additional 322,720 shares during the period. Finally, Frontier Capital Management Co. LLC grew its stake in shares of Granite Construction by 72.1% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 708,328 shares of the construction company’s stock valued at $34,170,000 after buying an additional 296,681 shares during the period. 98.53% of the stock is owned by institutional investors.

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)

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