Somewhat Favorable Media Coverage Somewhat Unlikely to Impact Granite Construction (GVA) Share Price

Media coverage about Granite Construction (NYSE:GVA) has trended somewhat positive this week, Accern Sentiment reports. The research group identifies positive and negative press coverage by reviewing more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Granite Construction earned a media sentiment score of 0.11 on Accern’s scale. Accern also assigned media headlines about the construction company an impact score of 47.1952008812559 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the near future.

These are some of the media headlines that may have impacted Accern’s scoring:

Several research firms have recently issued reports on GVA. B. Riley restated a “buy” rating on shares of Granite Construction in a report on Wednesday, November 1st. Zacks Investment Research upgraded shares of Granite Construction from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a report on Tuesday, October 31st. Canaccord Genuity raised their target price on shares of Granite Construction from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, October 30th. DA Davidson restated a “hold” rating and issued a $65.00 target price on shares of Granite Construction in a report on Monday, October 30th. Finally, Seaport Global Securities lowered shares of Granite Construction from a “buy” rating to a “neutral” rating and set a $64.00 target price for the company. in a report on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $67.00.

Shares of Granite Construction (GVA) traded down $0.10 on Wednesday, reaching $63.47. 272,184 shares of the company were exchanged, compared to its average volume of 381,217. Granite Construction has a one year low of $45.14 and a one year high of $67.39. The company has a market cap of $2,523.35, a price-to-earnings ratio of 49.08, a price-to-earnings-growth ratio of 5.56 and a beta of 1.24. The company has a quick ratio of 1.71, a current ratio of 1.79 and a debt-to-equity ratio of 0.24.

Granite Construction (NYSE:GVA) last announced its quarterly earnings data on Friday, October 27th. The construction company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. Granite Construction had a net margin of 1.84% and a return on equity of 5.71%. The company had revenue of $957.10 million during the quarter, compared to analyst estimates of $905.14 million. During the same quarter last year, the business posted $0.92 EPS. The firm’s revenue for the quarter was up 19.1% on a year-over-year basis. equities analysts predict that Granite Construction will post 1.63 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be issued a dividend of $0.13 per share. The ex-dividend date is Thursday, December 28th. This represents a $0.52 dividend on an annualized basis and a yield of 0.82%. Granite Construction’s payout ratio is 40.31%.

In related news, Director William Howard Powell sold 3,103 shares of Granite Construction stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $63.85, for a total transaction of $198,126.55. Following the completion of the sale, the director now owns 46,771 shares in the company, valued at approximately $2,986,328.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.30% of the company’s stock.

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About Granite Construction

Granite Construction Incorporated is a heavy civil contractor and construction materials producer in the United States. The Company operates through three segments: Construction, Large Project Construction and Construction Materials. The Company operates across the nation, serving both public and private sector clients.

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