Wall Street brokerages forecast that Granite Construction Inc. (NYSE:GVA) will report $0.89 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Granite Construction’s earnings. The lowest EPS estimate is $0.88 and the highest is $0.90. Granite Construction reported earnings per share of $0.35 in the same quarter last year, which suggests a positive year over year growth rate of 154.3%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, August 7th.

According to Zacks, analysts expect that Granite Construction will report full-year earnings of $3.26 per share for the current fiscal year, with EPS estimates ranging from $3.17 to $3.34. For the next financial year, analysts expect that the firm will report earnings of $4.50 per share, with EPS estimates ranging from $4.31 to $4.69. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Granite Construction.

Granite Construction (NYSE:GVA) last released its quarterly earnings data on Monday, April 30th. The construction company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.24. The company had revenue of $563.40 million during the quarter, compared to the consensus estimate of $534.77 million. Granite Construction had a net margin of 2.64% and a return on equity of 8.82%. The firm’s revenue for the quarter was up 20.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.60) EPS.

A number of equities analysts have recently commented on GVA shares. ValuEngine downgraded shares of Granite Construction from a “hold” rating to a “sell” rating in a report on Monday, April 2nd. DA Davidson raised shares of Granite Construction from a “neutral” rating to a “buy” rating in a report on Thursday, April 5th. Zacks Investment Research downgraded shares of Granite Construction from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Finally, MKM Partners cut their price target on shares of Granite Construction to $74.00 and set a “buy” rating for the company in a report on Friday, May 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $72.29.

Hedge funds have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale bought a new position in Granite Construction during the 1st quarter valued at about $137,000. Global X Management Co. LLC lifted its holdings in Granite Construction by 75.2% during the 4th quarter. Global X Management Co. LLC now owns 2,760 shares of the construction company’s stock valued at $175,000 after purchasing an additional 1,185 shares during the last quarter. Advisor Group Inc. lifted its holdings in Granite Construction by 65.3% during the 4th quarter. Advisor Group Inc. now owns 3,077 shares of the construction company’s stock valued at $195,000 after purchasing an additional 1,215 shares during the last quarter. Tocqueville Asset Management L.P. bought a new position in Granite Construction during the 4th quarter valued at about $203,000. Finally, Natixis bought a new position in Granite Construction during the 1st quarter valued at about $207,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Shares of Granite Construction traded down $1.02, reaching $57.09, during midday trading on Friday, MarketBeat Ratings reports. 514,900 shares of the company’s stock were exchanged, compared to its average volume of 302,374. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 35.22, a PEG ratio of 2.50 and a beta of 1.35. Granite Construction has a 12 month low of $46.88 and a 12 month high of $68.58. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.80 and a current ratio of 1.92.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 13th. Investors of record on Friday, June 29th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.91%. The ex-dividend date is Thursday, June 28th. Granite Construction’s dividend payout ratio is currently 32.10%.

About Granite Construction

Granite Construction Incorporated operates as a heavy civil contractor and a construction materials producer in the United States. The company operates through three segments: Construction, Large Project Construction, and Construction Materials. The Construction segment undertakes various civil construction projects focusing on new construction and improvement of streets, roads, highways, bridges, site work, underground, power-related facilities, water-related facilities, utilities, and other infrastructure projects.

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Earnings History and Estimates for Granite Construction (NYSE:GVA)

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