Granite Construction Inc. (NYSE: GVA) has reported E.P.S. of $-0.70 for its first fiscal quarter (ending March 31) versus $-0.53 for the same period a year ago. For the latest four quarters through March 31, E.P.S. were $0.81 versus $1.97 for the same period a year ago — a decline of -59%.
Recent Price Action
On 5/2/24, Granite Construction Inc. (NYSE: GVA) stock enjoyed a large increase of 4.1%, closing at $57.26. Moreover, exceptionally high trading volume at 228% of normal accompanied the advance. Relative to the market the stock has been exceptionally strong over the last nine months and has risen 5.2% during the last week.
Current PriceTarget Research Rating
GVA is expected to continue to be a major Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
Granite Construction has a current Value Trend Rating of C (High Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. Granite Construction has a slightly negative Appreciation Score of 31 but a very high Power Rating of 93, resulting in the High Neutral Value Trend Rating.
Rating Review
In light of this new information and positive market action we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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