Granite Construction (GVA) Stock Forecast, Price & News

1 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Granite Construction in the last twelve months. There are currently 1 sell rating for the stock. The consensus among Wall Street analysts is that investors should "sell" GVA shares.
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1 brokerages have issued 12-month price targets for Granite Construction's stock. Their GVA share price forecasts range from $36.00 to $55.00. On average, they predict the company's share price to reach $45.50 in the next year. This suggests a possible upside of 22.0% from the stock's current price.
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Granite Construction's stock was trading at $35.07 at the beginning of the year. Since then, GVA stock has increased by 6.4% and is now trading at $37.31.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, October 26th 2023.
View our GVA earnings forecast.

Granite Construction Incorporated (NYSE:GVA) released its earnings results on Thursday, July, 27th. The construction company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.20. The construction company earned $898.55 million during the quarter. Granite Construction had a net margin of 1.70% and a trailing twelve-month return on equity of 11.88%.

Granite Construction announced a quarterly dividend on Wednesday, September 13th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.13 per share on Friday, October 13th. This represents a $0.52 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Thursday, September 28th.
Read our dividend analysis for GVA.

ETFs with the largest weight of Granite Construction (NYSE:GVA) stock in their portfolio include First Trust RBA American Industrial Renaissance ETF (AIRR), Profound Medical (PRN) and Invesco S&P SmallCap Industrials ETF (PSCI).SPDR S&P 600 Small Cap ETF (SLY).

Granite Construction (NYSE:GVA) pays an annual dividend of $0.52 per share and currently has a dividend yield of 1.40%. The dividend payout ratio is 53.06%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, GVA will have a dividend payout ratio of 13.03% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for GVA.

Granite Construction issued an update on its FY 2023 earnings guidance on Thursday, July, 27th. The company provided earnings per share (EPS) guidance of for the period. The company issued revenue guidance of $3.35 billion-$3.45 billion, compared to the consensus revenue estimate of $3.43 billion.

4 employees have rated Granite Construction Chief Executive Officer Kyle T. Larkin on Glassdoor.com. Kyle T. Larkin has an approval rating of 100% among the company's employees. This puts Kyle T. Larkin in the top 10% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other Granite Construction investors own include U.S. Silica (SLCA), Alibaba Group (BABA), Enterprise Products Partners (EPD), AT&T (T), Applied Materials (AMAT), JD.com (JD), NVIDIA (NVDA), Ford Motor (F), The Hain Celestial Group (HAIN) and Carnival Co. & (CCL).

Granite Construction trades on the New York Stock Exchange (NYSE) under the ticker symbol "GVA."

Granite Construction's stock is owned by a number of retail and institutional investors. Top institutional investors include BlackRock Inc. (16.58%), Dimensional Fund Advisors LP (6.30%), State Street Corp (6.13%), William Blair Investment Management LLC (2.61%), Bank of New York Mellon Corp (2.16%) and Franklin Resources Inc. (2.03%).
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Shares of GVA stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of GVA stock can currently be purchased for approximately $37.31.

Granite Construction (NYSE:GVA) has a market capitalization of $1.64 billion and generates $3.30 billion in revenue each year. The construction company earns $83.30 million in net income (profit) each year or $0.98 on an earnings per share basis.

The company employs 3,800 workers across the globe.

Granite Construction's mailing address is 585 WEST BEACH ST, WATSONVILLE CA, 95076. The official website for the company is www.graniteconstruction.com. The construction company can be reached via phone at (831) 724-1011, via email at ronald.botoff@gcinc.com, or via fax at 831-761-7871.