Granite Construction (GVA) to Release Earnings on Thursday

Granite Construction (NYSE:GVA - Get Free Report) will post its quarterly earnings results before the market opens on Thursday, October 31st. Analysts expect Granite Construction to post earnings of $2.51 per share for the quarter. Granite Construction has set its FY 2024 guidance at EPS.Persons that wish to listen to the company's earnings conference call can do so using this link.

Granite Construction (NYSE:GVA - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The construction company reported $1.73 EPS for the quarter, beating analysts' consensus estimates of $1.32 by $0.41. Granite Construction had a return on equity of 17.82% and a net margin of 2.35%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the business earned $1.03 earnings per share. The business's revenue for the quarter was up 20.5% on a year-over-year basis. 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 Trading Up 0.3 %

Granite Construction stock traded up $0.21 during midday trading on Thursday, reaching $82.83. The stock had a trading volume of 705,956 shares, compared to its average volume of 520,617. The stock's 50-day simple moving average is $77.08 and its 200 day simple moving average is $67.09. Granite Construction has a twelve month low of $33.74 and a twelve month high of $84.10. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.56 and a current ratio of 1.68. The stock has a market capitalization of $3.66 billion, a PE ratio of 140.03 and a beta of 1.38.

Granite Construction Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.63%. Granite Construction's dividend payout ratio is currently 88.14%.

Insider Activity

In related news, SVP Michael G. Tatusko sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $69.22, for a total transaction of $346,100.00. Following the completion of the transaction, the senior vice president now owns 21,943 shares in the company, valued at $1,518,894.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.81% of the company's stock.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group lifted their price target on Granite Construction from $61.00 to $70.00 and gave the stock a "sell" rating in a research note on Wednesday, October 9th.

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.