Granite Construction Inc. Stock Upgraded (GVA)
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- The revenue growth came in higher than the industry average of 13.3%. Since the same quarter one year prior, revenues slightly increased by 6.5%. Growth in the company's revenue appears to have helped boost the earnings per share.
- The current debt-to-equity ratio, 0.36, is low and is below the industry average, implying that there has been successful management of debt levels. Along with the favorable debt-to-equity ratio, the company maintains an adequate quick ratio of 1.02, which illustrates the ability to avoid short-term cash problems.
- The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Construction & Engineering industry. The net income increased by 861.2% when compared to the same quarter one year prior, rising from $1.42 million to $13.64 million.
- GRANITE CONSTRUCTION INC reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, GRANITE CONSTRUCTION INC swung to a loss, reporting -$0.94 versus $1.14 in the prior year. This year, the market expects an improvement in earnings ($1.47 versus -$0.94).
- In its most recent trading session, GVA has closed at a price level that was not very different from its closing price of one year earlier. This is probably due to its weak earnings growth as well as other mixed factors. Looking ahead, unless broad bear market conditions prevail, we still see more upside potential for this stock, despite the fact that it has already risen over the past year.
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