Granite Construction (GVA) Set to Announce Quarterly Earnings on Thursday

Granite Construction (NYSE:GVA) will be issuing its quarterly earnings data before the market opens on Thursday, August 1st. Analysts expect the company to announce earnings of $1.32 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Granite Construction (NYSE:GVA) last issued its quarterly earnings data on Thursday, May 2nd. The construction company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.28. The business had revenue of $672.28 million during the quarter. Granite Construction had a net margin of 0.98% and a return on equity of 14.91%. On average, analysts expect Granite Construction to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Granite Construction Price Performance

NYSE:GVA traded up $0.32 on Tuesday, hitting $68.17. The company had a trading volume of 7,648 shares, compared to its average volume of 488,340. The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of 114.93 and a beta of 1.41. The company has a current ratio of 1.51, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The firm has a 50 day moving average of $62.55 and a two-hundred day moving average of $56.34. Granite Construction has a 52 week low of $33.74 and a 52 week high of $69.30.

Granite Construction Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.76%. The ex-dividend date was Friday, June 28th. Granite Construction’s payout ratio is 88.14%.

Insider Buying and Selling at Granite Construction

In other Granite Construction news, SVP Bradley Jay Williams sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $61.21, for a total value of $45,907.50. Following the completion of the transaction, the senior vice president now directly owns 7,423 shares in the company, valued at approximately $454,361.83. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.81% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group increased their price objective on shares of Granite Construction from $44.00 to $50.00 and gave the company a “sell” rating in a research note on Tuesday, April 16th.

Granite Construction Company Profile

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.