Zacks: Analysts Anticipate Granite Construction Incorporated (NYSE:GVA) to Announce $0.51 EPS

Equities analysts expect Granite Construction Incorporated (NYSE:GVAGet Rating) to report $0.51 earnings per share for the current quarter, according to Zacks. Zero analysts have provided estimates for Granite Construction’s earnings. Granite Construction posted earnings of $0.91 per share during the same quarter last year, which suggests a negative year over year growth rate of 44%. The company is scheduled to report its next earnings report on Monday, January 1st.

On average, analysts expect that Granite Construction will report full year earnings of $2.11 per share for the current year. For the next fiscal year, analysts anticipate that the company will post earnings of $2.99 per share. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that cover Granite Construction.

Granite Construction (NYSE:GVAGet Rating) last posted its quarterly earnings data on Thursday, April 28th. The construction company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.03. Granite Construction had a return on equity of 7.51% and a net margin of 1.95%. The firm had revenue of $547.59 million during the quarter. During the same quarter in the previous year, the company posted ($0.11) earnings per share.

A number of equities research analysts have recently weighed in on GVA shares. Zacks Investment Research raised Granite Construction from a “sell” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Wednesday, May 4th. StockNews.com started coverage on Granite Construction in a research report on Thursday, March 31st. They set a “hold” rating for the company.

NYSE GVA opened at $32.75 on Friday. Granite Construction has a 1-year low of $27.84 and a 1-year high of $44.31. The company has a current ratio of 1.70, a quick ratio of 1.62 and a debt-to-equity ratio of 0.30. The stock has a 50-day moving average of $31.71 and a 200-day moving average of $34.78. The firm has a market cap of $1.49 billion, a PE ratio of 25.19 and a beta of 1.40.

In other news, CEO Kyle T. Larkin sold 8,000 shares of the stock in a transaction that occurred on Friday, May 6th. The stock was sold at an average price of $31.06, for a total value of $248,480.00. Following the completion of the transaction, the chief executive officer now owns 69,294 shares of the company’s stock, valued at approximately $2,152,271.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.99% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the company. US Bancorp DE raised its position in shares of Granite Construction by 20.2% in the 3rd quarter. US Bancorp DE now owns 3,356 shares of the construction company’s stock worth $133,000 after acquiring an additional 563 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of Granite Construction by 11.6% in the 3rd quarter. Captrust Financial Advisors now owns 4,487 shares of the construction company’s stock worth $178,000 after buying an additional 467 shares during the last quarter. Dark Forest Capital Management LP purchased a new stake in shares of Granite Construction in the 3rd quarter worth approximately $192,000. Profund Advisors LLC purchased a new stake in shares of Granite Construction in the 1st quarter worth approximately $208,000. Finally, Guggenheim Capital LLC purchased a new stake in shares of Granite Construction in the 1st quarter worth approximately $213,000. 96.64% of the stock is owned by hedge funds and other institutional investors.

About Granite Construction (Get Rating)

Granite Construction Incorporated operates as an infrastructure contractor and a construction materials producer in the United States. It operates through two segments, Construction and Materials segments. The Construction segment engages in the construction and rehabilitation of roads, pavement preservation, bridges, rail lines, airports, marine ports, dams, reservoirs, aqueducts, infrastructure, and site development for use by the public.

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