Granite Construction (GVA) Scheduled to Post Quarterly Earnings on Thursday

Granite Construction (NYSE:GVA) is scheduled to be issuing its quarterly earnings data before the market opens on Thursday, May 2nd. Analysts expect the company to announce earnings of ($0.49) per share for the quarter. Granite Construction has set its FY 2024 guidance at EPS.Parties that wish to register for the company’s conference call can do so using this link.

Granite Construction (NYSE:GVA) last posted its quarterly earnings data on Thursday, February 22nd. The construction company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.02). The company had revenue of $933.70 million during the quarter. Granite Construction had a net margin of 1.24% and a return on equity of 14.15%. During the same quarter in the prior year, the company earned $0.56 earnings per share. On average, analysts expect Granite Construction to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Granite Construction Trading Down 0.4 %

GVA opened at $55.47 on Wednesday. The stock has a market capitalization of $2.45 billion, a P/E ratio of 72.99 and a beta of 1.46. Granite Construction has a 12 month low of $33.74 and a 12 month high of $57.93. The firm’s fifty day simple moving average is $54.22 and its 200 day simple moving average is $48.79. The company has a current ratio of 1.60, a quick ratio of 1.49 and a debt-to-equity ratio of 0.60.

Granite Construction Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.52 annualized dividend and a yield of 0.94%. Granite Construction’s dividend payout ratio is currently 68.42%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. The Goldman Sachs Group boosted their price objective on shares of Granite Construction from $44.00 to $50.00 and gave the company a “sell” rating in a research report on Tuesday, April 16th. DA Davidson boosted their price target on shares of Granite Construction from $60.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th.

Insiders Place Their Bets

In other Granite Construction news, Director Louis E. Caldera sold 1,263 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $50.00, for a total transaction of $63,150.00. Following the sale, the director now directly owns 8,528 shares of the company’s stock, valued at approximately $426,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.54% of the company’s stock.

About Granite Construction

Granite Construction Incorporated operates as an infrastructure contractor 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 and water-related construction for municipal agencies, commercial water suppliers, industrial facilities, and energy companies; and construction of various complex projects, including infrastructure/site development, mining, public safety, tunnel, solar storage, and power related projects.