Granite Construction (GVA) to Release Quarterly Earnings on Thursday

Granite Construction (NYSE:GVA) will release its earnings data before the market opens on Thursday, May 2nd. Analysts expect Granite Construction to post earnings of ($0.49) per share for the quarter. Granite Construction has set its FY 2024 guidance at EPS.Parties interested in participating in the company’s conference call can do so using this link.

Granite Construction (NYSE:GVA) last issued its quarterly earnings data on Thursday, February 22nd. The construction company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). Granite Construction had a return on equity of 14.15% and a net margin of 1.24%. The firm had revenue of $933.70 million for the quarter. During the same quarter in the prior year, the company earned $0.56 EPS. 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 Stock Performance

Shares of GVA stock opened at $55.71 on Tuesday. The business’s 50-day moving average price is $54.11 and its 200-day moving average price is $48.66. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of 73.30 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 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 firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.13 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.93%. Granite Construction’s dividend payout ratio (DPR) is presently 68.42%.

Insider Activity

In other Granite Construction news, Director Louis E. Caldera sold 1,263 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $50.00, for a total value of $63,150.00. Following the completion of the sale, the director now directly owns 8,528 shares in the company, valued at $426,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.54% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

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.