Equities research analysts expect that Granite Construction Inc. (NYSE:GVA) will announce earnings of $1.07 per share for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Granite Construction’s earnings. The highest EPS estimate is $1.15 and the lowest is $0.99. Granite Construction reported earnings per share of $0.72 in the same quarter last year, which suggests a positive year-over-year growth rate of 48.6%. The firm is scheduled to issue its next quarterly earnings report on Friday, February 15th.

On average, analysts expect that Granite Construction will report full year earnings of $1.98 per share for the current year, with EPS estimates ranging from $1.89 to $2.06. For the next year, analysts expect that the business will report earnings of $3.68 per share, with EPS estimates ranging from $3.15 to $4.08. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for Granite Construction.

Granite Construction (NYSE:GVA) last released its quarterly earnings data on Friday, October 26th. The construction company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.18. Granite Construction had a return on equity of 9.37% and a net margin of 2.13%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the company posted $1.14 EPS. The company’s revenue was up 10.3% compared to the same quarter last year.

GVA has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Granite Construction from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. DA Davidson set a $60.00 price objective on shares of Granite Construction and gave the company a “buy” rating in a research report on Monday, October 29th. They noted that the move was a valuation call. ValuEngine lowered shares of Granite Construction from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. Goldman Sachs Group lowered shares of Granite Construction from a “buy” rating to a “neutral” rating and reduced their target price for the company from $58.00 to $50.00 in a report on Monday, December 10th. Finally, MKM Partners set a $59.00 target price on shares of Granite Construction and gave the company a “buy” rating in a report on Wednesday, November 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $63.50.

In related news, Director James Hildebrand Roberts sold 2,200 shares of the stock in a transaction on Monday, November 26th. The shares were sold at an average price of $53.08, for a total transaction of $116,776.00. Following the transaction, the director now owns 61,394 shares of the company’s stock, valued at approximately $3,258,793.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in GVA. Retirement Systems of Alabama raised its position in Granite Construction by 2.9% in the fourth quarter. Retirement Systems of Alabama now owns 60,791 shares of the construction company’s stock worth $2,449,000 after acquiring an additional 1,739 shares in the last quarter. Teachers Advisors LLC raised its position in shares of Granite Construction by 0.7% during the third quarter. Teachers Advisors LLC now owns 86,968 shares of the construction company’s stock worth $3,974,000 after purchasing an additional 605 shares during the period. Vanguard Group Inc raised its position in shares of Granite Construction by 4.4% during the third quarter. Vanguard Group Inc now owns 4,032,420 shares of the construction company’s stock worth $184,282,000 after purchasing an additional 171,712 shares during the period. Vanguard Group Inc. raised its position in shares of Granite Construction by 4.4% during the third quarter. Vanguard Group Inc. now owns 4,032,420 shares of the construction company’s stock worth $184,282,000 after purchasing an additional 171,712 shares during the period. Finally, Glenmede Trust Co. NA grew its holdings in shares of Granite Construction by 3.0% during the third quarter. Glenmede Trust Co. NA now owns 967,325 shares of the construction company’s stock valued at $44,206,000 after buying an additional 28,330 shares in the last quarter. 96.00% of the stock is currently owned by institutional investors and hedge funds.

Shares of GVA stock traded down $0.57 during trading hours on Wednesday, hitting $43.10. The company had a trading volume of 3,179 shares, compared to its average volume of 326,712. Granite Construction has a 12 month low of $38.55 and a 12 month high of $68.58. The firm has a market cap of $2.02 billion, a P/E ratio of 26.62, a P/E/G ratio of 1.67 and a beta of 1.26. The company has a current ratio of 1.84, a quick ratio of 1.73 and a debt-to-equity ratio of 0.23.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 31st will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Friday, December 28th. Granite Construction’s dividend payout ratio is currently 32.10%.

Granite Construction Company Profile

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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