Why Granite Construction Incorporated (NYSE:GVA) Is In News?


Thomson Reuters, a distinguished brokerage company, has placed a 52-week price target of $56.11 on Granite Construction Incorporated (NYSE:GVA) shares after it surveyed top market analysts. Calculating estimated earnings after taking into consideration different elements, it is predicted to come at $1.58 for the next fiscal and $N/A for underway quarter.

Valuation Estimates

Analysts take into account the price to earnings ratio to estimate the firm’s valuation. This ratio, which is also called as the P/E ratio evaluates the company on relative expense factor. The formula to calculate ratio is stock’s latest price/ per share earnings. The P/E ratio of Granite Construction Incorporated (NYSE:GVA) stands at 31.72.

Analysts also work out Price/Earnings Growth ratio in an attempt to estimate the valuation of a firm. This ratio commonly known as the PEG ratio implies the stock’s valuation compared to earnings growth potential. Investors look to invest in the stocks with a lower PEG ratio. For Granite Construction Incorporat, the PEG ratio for coming 3-5 years is 4.50.

Technical Analysis

The technical analysis highlights that Granite Construction Incorporat current is trading $1.06 points away or +2.20% from its 50-day moving average of $48.27. Further it is trading $5.05 or +11.40% away its 200-day moving average of $44.28.

The 52-week high of Granite Construction Incorporated (NYSE:GVA) was $51.35 while lowest point recorded in 52-week was $28.45. It implies if stock price makes a movement of over $-2.02, it will record a new 52-week high. In the case of +73.39% drop, it will touch a new 52-week low.

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