Granite Construction Incorporated (NYSE:GVA) – Analysts at Griffin Securities lowered their FY2017 EPS estimates for Granite Construction in a note issued to investors on Tuesday. Griffin Securities analyst M. Ajzenman now anticipates that the construction company will earn $1.54 per share for the year, down from their prior estimate of $1.56. Griffin Securities also issued estimates for Granite Construction’s Q3 2018 earnings at $1.62 EPS.

A number of other equities analysts have also weighed in on GVA. BidaskClub upgraded shares of Granite Construction from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 6th. FBR & Co lifted their price objective on shares of Granite Construction from $63.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, August 1st. Canaccord Genuity reiterated a “buy” rating and issued a $70.00 price objective on shares of Granite Construction in a research report on Tuesday, August 1st. Cowen and Company reiterated a “buy” rating and issued a $70.00 price objective on shares of Granite Construction in a research report on Tuesday, September 19th. Finally, Seaport Global Securities lowered shares of Granite Construction from a “buy” rating to a “neutral” rating and set a $64.00 target price on the stock. in a research report on Wednesday, October 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. Granite Construction presently has an average rating of “Buy” and an average price target of $67.00.

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Granite Construction (NYSE:GVA) last posted its earnings results on Friday, October 27th. The construction company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.04. Granite Construction had a net margin of 1.84% and a return on equity of 5.71%. The firm had revenue of $957.10 million during the quarter, compared to analysts’ expectations of $905.14 million. During the same period in the previous year, the business posted $0.92 EPS. The business’s revenue was up 19.1% compared to the same quarter last year.

The business also recently announced a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.52 annualized dividend and a dividend yield of 0.82%. Granite Construction’s payout ratio is currently 40.31%.

In other Granite Construction news, insider James D. Richards sold 4,000 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $55.50, for a total transaction of $222,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its position 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 worth $200,206,000 after purchasing an additional 3,969,000 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Granite Construction by 1.9% during 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. boosted its position 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 worth $70,350,000 after purchasing an additional 649,831 shares in the last quarter. State Street Corp boosted its position in shares of Granite Construction by 4.5% during 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 boosted its position in shares of Granite Construction by 6.5% during 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. Institutional investors own 98.85% of the company’s stock.

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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