Headlines about Granite Construction (NYSE:GVA) have trended somewhat positive this week, according to Accern. The research firm scores the sentiment of press coverage by reviewing more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Granite Construction earned a daily sentiment score of 0.15 on Accern’s scale. Accern also assigned media coverage about the construction company an impact score of 46.2687626276386 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
These are some of the headlines that may have impacted Accern’s rankings:
- Granite Construction (GVA) Secures $21M Contract for Bridge Reconstruction Project in Chicago (streetinsider.com)
- Granite Construction : Subsidiary Awarded $21 Million Bridge Reconstruction Project in Chicago (4-traders.com)
- Granite Construction, Inc. breached its 50 day moving average in a Bearish Manner : GVA-US : August 18, 2017 (finance.yahoo.com)
- Granite Construction (GVA) Subsidiary Wins $21M Contract (finance.yahoo.com)
- Head-To-Head Comparison: Argan (AGX) vs. Granite Construction (GVA) (americanbankingnews.com)
Shares of Granite Construction (GVA) opened at 49.40 on Friday. The firm’s 50-day moving average price is $50.52 and its 200 day moving average price is $50.66. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 44.95 and a beta of 1.20. Granite Construction has a 52 week low of $42.59 and a 52 week high of $62.18.
Granite Construction (NYSE:GVA) last issued its earnings results on Tuesday, August 1st. The construction company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by $0.25. The company had revenue of $762.90 million during the quarter, compared to analyst estimates of $684.32 million. Granite Construction had a net margin of 1.61% and a return on equity of 4.80%. The business’s quarterly revenue was up 26.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.35 EPS. On average, analysts anticipate that Granite Construction will post $1.55 EPS for the current year.
Several brokerages have weighed in on GVA. FBR & Co lifted their target price on Granite Construction from $63.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, August 1st. Canaccord Genuity restated a “buy” rating and issued a $70.00 price target on shares of Granite Construction in a research note on Wednesday, May 3rd. BidaskClub upgraded Granite Construction from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 6th. Finally, Zacks Investment Research upgraded Granite Construction from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $63.67.
In related news, Director William Howard Powell sold 3,000 shares of Granite Construction stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $49.60, for a total transaction of $148,800.00. Following the completion of the transaction, the director now owns 49,858 shares of the company’s stock, valued at $2,472,956.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director James Hildebrand Roberts sold 17,442 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $50.34, for a total transaction of $878,030.28. Following the completion of the sale, the director now owns 54,594 shares of the company’s stock, valued at $2,748,261.96. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.
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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