NYSE:GVA

Granite Construction (GVA) Stock Forecast, Price & News

$38.02

-0.12 (-0.31%)

(As of 09/29/2023 ET)

Compare

Today's Range: $37.77
▼
$38.40
50-Day Range: $36.68
▼
$43.48
52-Week Range: $25.35
▼
$44.15

Volume: 294,819 shs
Average Volume: 309,463 shs
Market Capitalization: $1.67 billion

P/E Ratio: 38.80
Dividend Yield: 1.37%
Price Target: $45.50

Granite Construction MarketRank™ Forecast

Analyst Rating: Sell
1.00 Rating Score
Upside/Downside: 19.7% Upside
$45.50 Price Target
Short Interest: Bearish
9.52% of Float Sold Short
Dividend Strength: Moderate
Based on Four Factors
Sustainability: N/A
News Sentiment: 1.27
Based on 3 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: 40.49%
From $2.84 to $3.99 Per Share

Overall MarketRank^™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

1.66 out of 5 stars

Construction Sector

89th out of 101 stocks

Heavy Construction, Except Building Construction - Contractors Industry

5th out of 9 stocks

1.5

Analyst's Opinion

Consensus Rating
Granite Construction has received a consensus rating of Sell. The company's average rating score is 1.00, and is based on no buy ratings, no hold ratings, and 1 sell rating.
Price Target Upside/Downside
According to analysts' consensus price target of $45.50, Granite Construction has a forecasted upside of 19.7% from its current price of $38.02.
Amount of Analyst Coverage
Granite Construction has received no research coverage in the past 90 days.

0.0

Short Interest

Percentage of Shares Shorted
9.52% of the float of Granite Construction has been sold short.
Short Interest Ratio / Days to Cover
Granite Construction has a short interest ratio ("days to cover") of 15.6, which indicates bearish sentiment.
Change versus previous month
Short interest in Granite Construction has recently increased by 1.22%, indicating that investor sentiment is decreasing.

2.5

Dividend Strength

Dividend Yield
Granite Construction pays a meaningful dividend of 1.37%, higher than the bottom 25% of all stocks that pay dividends.
Dividend Growth
Granite Construction does not have a long track record of dividend growth.
Dividend Coverage
The dividend payout ratio of Granite Construction is 53.06%. This payout ratio is at a healthy, sustainable level, below 75%.
Dividend Sustainability
Based on earnings estimates, Granite Construction will have a dividend payout ratio of 13.03% next year. This indicates that Granite Construction will be able to sustain or increase its dividend.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for GVA.

2.9

News and Social Media Coverage

News Sentiment
Granite Construction has a news sentiment score of 1.27. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.68 average news sentiment score of Construction companies.
News Coverage This Week
MarketBeat has tracked 3 news articles for Granite Construction this week, compared to 3 articles on an average week.
MarketBeat Follows
1 people have added Granite Construction to their MarketBeat watchlist in the last 30 days.

0.0

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Granite Construction insiders have not sold or bought any company stock.
Percentage Held by Insiders
Only 0.54% of the stock of Granite Construction is held by insiders.

2.5

Earnings and Valuation

Earnings Growth
Earnings for Granite Construction are expected to grow by 40.49% in the coming year, from $2.84 to $3.99 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Granite Construction is 38.80, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 110.28.
Price to Earnings Ratio vs. Sector
The P/E ratio of Granite Construction is 38.80, which means that it is trading at a more expensive P/E ratio than the Construction sector average P/E ratio of about 14.31.
Price to Book Value per Share Ratio
Granite Construction has a P/B Ratio of 1.69. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Granite Construction (NYSE:GVA) Stock

Granite Construction Incorporated operates as an infrastructure contractor and a construction materials producer in the United States. The company 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. The Materials segment is involved in the production of aggregates and asphalt for internal use, as well as for sale to third parties. It also focuses on water-related construction for municipal agencies, commercial water suppliers, industrial facilities, and energy companies; and constructs various complex projects, including infrastructure/site development, mining, public safety, tunnel, solar, and power projects. In addition, the company offers site preparation, mining, and infrastructure services for residential development, energy development, commercial and industrial sites, and other facilities; and provides construction management professional services. It serves federal agencies, state departments of transportation, local transit authorities, county and city public works departments, school districts and developers, utilities, contractors, landscapers, manufacturers of products requiring aggregate materials, retailers, homeowners, farmers, brokers, and private owners of industrial, commercial, and residential sites. The company was incorporated in 1922 and is headquartered in Watsonville, California.

GVA Price History

30 days | 90 days | 365 days | Advanced Chart

GVA Stock News Headlines

September 27, 2023 | finance.yahoo.com

ENR Ranks Granite Number One in Highways for the Third Consecutive Year

September 27, 2023 | ca.investing.com

Glasshouse Research short report says Granite Construction faces substantial revenue headwinds

October 1, 2023 | Behind the Markets (Ad)

Laser breakthrough could send stock soaring 2,467%

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September 26, 2023 | finance.yahoo.com

Granite Wins Six Safety and Environmental Awards From NSSGA

September 17, 2023 | finance.yahoo.com

Granite Construction (NYSE:GVA) Will Pay A Dividend Of $0.13

September 14, 2023 | finance.yahoo.com

Caltrans Awards Granite Sequoia National Forest Storm Damage Repair Project

September 12, 2023 | finance.yahoo.com

Granite Takes Home Gold and Silver at the 2023 MerComm ARC Awards

September 8, 2023 | finance.yahoo.com

Granite Construction Incorporated (NYSE:GVA) Stock's Been Sliding But Fundamentals Look Decent: Will The Market Correct The Share Price In The Future?

October 1, 2023 | Behind the Markets (Ad)

Laser breakthrough could send stock soaring 2,467%

September 3, 2023 | news.yahoo.com

Fire roars through Granite Grinder Cafe building in Granite Falls, Minnesota; firefighter injured

August 31, 2023 | finance.yahoo.com

AGC of California Announces Granite Construction as Presenting Partner for Inclusive Leaders Institute

August 31, 2023 | markets.businessinsider.com

Granite Construction On A Contract Winning Spree: Bags Utah's Major Dam Project Work

August 30, 2023 | finance.yahoo.com

Granite Selected for Approximately $73 Million CM/GC Water Project in Utah

August 23, 2023 | finance.yahoo.com

Granite (GVA) Wins $72M Caltrans Contract, Fortifies Q2 CAP

August 23, 2023 | markets.businessinsider.com

Granite Construction Bags $75M California Transportation Contract

August 22, 2023 | marketwatch.com

Granite Gets $72M Contract for Highway Project in California

August 22, 2023 | finance.yahoo.com

Granite Selected for Approximately $72 Million Project in Capitola, California

August 15, 2023 | finance.yahoo.com

Granite Selected for Approximately $215 Million Tunnel Project in Akron Ohio

August 9, 2023 | finance.yahoo.com

Those who invested in Granite Construction (NYSE:GVA) three years ago are up 127%

August 8, 2023 | msn.com

Granite Construction: Good Long-Term Growth Prospects At Attractive Valuation

July 27, 2023 | seekingalpha.com

Granite Construction Incorporated 2023 Q2 - Results - Earnings Call Presentation

July 27, 2023 | markets.businessinsider.com

Granite Construction Reports Loss In Q2, Cuts Annual Revenue Guidance

July 27, 2023 | finanznachrichten.de

Granite Construction Incorporated Reports Second Quarter 2023 Results

July 27, 2023 | msn.com

Granite Construction Non-GAAP EPS of $1.03, revenue of $899M

July 27, 2023 | finance.yahoo.com

Granite Reports Second Quarter 2023 Results

July 27, 2023 | seekingalpha.com

Granite Construction Q2 2023 Earnings Preview

July 22, 2023 | news.yahoo.com

Granite Falls Town Council awards contracts for first-ever splash pad

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GVA Company Calendar

Ex-Dividend for 7/14 Dividend: 6/29/2023
Dividend Payable: 7/14/2023
Last Earnings: 7/27/2023
Ex-Dividend for 10/13 Dividend: 9/28/2023
Today: 10/01/2023
Dividend Payable: 10/13/2023
Next Earnings (Estimated): 10/26/2023
Fiscal Year End: 12/31/2023

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Industry, Sector and Symbol

Stock Exchange: NYSE
Industry: Heavy construction, except building construction - contractors
Sub-Industry: Construction & Engineering
Sector: Construction
Current Symbol: NYSE:GVA
CUSIP: 38732810
CIK: 861459
Web: www.graniteconstruction.com
Phone: (831) 724-1011
Fax: 831-761-7871
Employees: 3,800
Year Founded: N/A

Price Target and Rating

Average Stock Price Forecast: $45.50
High Stock Price Forecast: $55.00
Low Stock Price Forecast: $36.00
Forecasted Upside/Downside: +19.7%
Consensus Rating: Sell
Rating Score (0-4): 1.00
Research Coverage: 1 Analysts

Profitability

EPS (Most Recent Fiscal Year): $0.98
Trailing P/E Ratio: 38.80
Forward P/E Ratio: 13.39
P/E Growth: N/A
Net Income: $83.30 million
Net Margins: 1.70%
Pretax Margin: 0.99%
Return on Equity: 11.88%
Return on Assets: 5.11%

Debt

Debt-to-Equity Ratio: 0.49
Current Ratio: 1.72
Quick Ratio: 1.61

Sales & Book Value

Annual Sales: $3.30 billion
Price / Sales: 0.51
Cash Flow: $4.32 per share
Price / Cash Flow: 8.81
Book Value: $22.53 per share
Price / Book: 1.69

Miscellaneous

Outstanding Shares: 43,920,000
Free Float: 43,683,000
Market Cap: $1.67 billion
Optionable: Optionable
Beta: 1.42

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Key Executives

Mr. Kyle T. Larkin (Age 51)
Pres, CEO & Director
Comp: $1.52M

Ms. Elizabeth Lisa Curtis (Age 56)
Exec. VP & CFO
Comp: $793.64k

Mr. James A. Radich (Age 64)
Exec. VP & COO
Comp: $789.81k

Ms. Staci M. Woolsey (Age 46)
Chief Accounting Officer
Comp: $863.36k

Mr. Michael G. Tatusko (Age 58)
Sr. VP & Mountain Group Mang.
Comp: $745.11k

Mr. Kenneth B. Olson
Sr. VP of Corp. Fin. & Treasurer

Mr. M. Craig Hall
Sr. VP, Gen. Counsel, Corp. Compliance Officer & Sec.

Ms. Erin Kuhlman
Sr. VP and Chief Marketing & Communications Officer

Mr. Tim Gruber
Sr. VP of HR

Mr. Brian A. Dowd (Age 59)
Sr. VP & California Group Mang.

Key Competitors

View All Competitors

Institutional Ownership

View All Institutional Transactions

GVA Stock - Frequently Asked Questions

Should I buy or sell Granite Construction stock right now?: 1 Wall Street equities research 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 equities research analysts is that investors should "sell" GVA shares.
View GVA analyst ratings or view top-rated stocks.
What is Granite Construction's stock price forecast for 2023?: 1 equities research analysts have issued 12-month price targets for Granite Construction's shares. Their GVA share price forecasts range from $36.00 to $55.00. On average, they anticipate the company's stock price to reach $45.50 in the next year. This suggests a possible upside of 19.7% from the stock's current price.
View analysts price targets for GVA or view top-rated stocks among Wall Street analysts.
How have GVA shares performed in 2023?: Granite Construction's stock was trading at $35.07 at the beginning of the year. Since then, GVA shares have increased by 8.4% and is now trading at $38.02.
View the best growth stocks for 2023 here.
When is Granite Construction's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Thursday, October 26th 2023.
View our GVA earnings forecast.
How were Granite Construction's earnings last quarter?: Granite Construction Incorporated (NYSE:GVA) posted its earnings results on Thursday, July, 27th. The construction company reported $1.03 earnings per share (EPS) for the quarter, topping 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%.
How often does Granite Construction pay dividends? What is the dividend yield for Granite Construction?: Granite Construction announced a quarterly dividend on Wednesday, September 13th. Investors of record on Friday, September 29th will be given a dividend of $0.13 per share on Friday, October 13th. This represents a $0.52 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Thursday, September 28th.
Read our dividend analysis for GVA.
What ETFs hold Granite Construction's stock?: 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).
Is Granite Construction a good dividend stock?: Granite Construction (NYSE:GVA) pays an annual dividend of $0.52 per share and currently has a dividend yield of 1.37%. 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.

What guidance has Granite Construction issued on next quarter's earnings?: Granite Construction issued an update on its FY 2023 earnings guidance on Thursday, July, 27th. The company provided 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.
What is Kyle T. Larkin's approval rating as Granite Construction's CEO?: 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.
What other stocks do shareholders of Granite Construction own?: 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).
What is Granite Construction's stock symbol?: Granite Construction trades on the New York Stock Exchange (NYSE) under the ticker symbol "GVA."
How do I buy shares of Granite Construction?: 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.
Compare Top Brokerages Here.
What is Granite Construction's stock price today?: One share of GVA stock can currently be purchased for approximately $38.02.
How much money does Granite Construction make?: Granite Construction (NYSE:GVA) has a market capitalization of $1.67 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.
How many employees does Granite Construction have?: The company employs 3,800 workers across the globe.
How can I contact Granite Construction?: 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.

This page (NYSE:GVA) was last updated on 10/1/2023 by MarketBeat.com Staff

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