Granite Construction (GVA) Getting Somewhat Favorable News Coverage, Report Shows

Media coverage about Granite Construction (NYSE:GVA) has been trending somewhat positive on Tuesday, Accern reports. The research firm identifies positive and negative media coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Granite Construction earned a news sentiment score of 0.21 on Accern’s scale. Accern also gave media stories about the construction company an impact score of 47.1811264770046 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.

A number of research firms have issued reports on GVA. B. Riley reiterated a “buy” rating on shares of Granite Construction in a research 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 price target on the stock in a research note on Tuesday, October 31st. Canaccord Genuity increased their price target on shares of Granite Construction from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, October 30th. DA Davidson restated a “hold” rating and set a $65.00 price target on shares of Granite Construction in a research note on Monday, October 30th. Finally, Cowen restated a “buy” rating and set a $70.00 price target on shares of Granite Construction in a research note on Tuesday, September 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. Granite Construction presently has a consensus rating of “Buy” and a consensus target price of $67.00.

Shares of Granite Construction (NYSE:GVA) traded up $0.68 on Tuesday, hitting $64.18. 128,768 shares of the stock traded hands, compared to its average volume of 378,578. Granite Construction has a 52 week low of $45.14 and a 52 week high of $67.39. The firm has a market cap of $2,530.52, a price-to-earnings ratio of 49.75, a price-to-earnings-growth ratio of 5.57 and a beta of 1.24. The company has a current ratio of 1.79, a quick ratio of 1.71 and a debt-to-equity ratio of 0.24.

Granite Construction (NYSE:GVA) last announced its quarterly earnings results on Friday, October 27th. The construction company reported $1.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 for the quarter, compared to analyst estimates of $905.14 million. During the same quarter in the prior year, the business posted $0.92 EPS. Granite Construction’s quarterly revenue was up 19.1% on a year-over-year basis. research analysts anticipate that Granite Construction will post 1.63 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.52 dividend on an annualized basis and a yield of 0.81%. Granite Construction’s payout ratio is presently 40.31%.

In related news, Director Claes Bjork sold 1,264 shares of the firm’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $63.05, for a total value of $79,695.20. Following the transaction, the director now directly owns 50,972 shares in the company, valued at approximately $3,213,784.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William Howard Powell sold 3,103 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 46,771 shares in the company, valued at $2,986,328.35. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

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Granite Construction Company Profile

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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