"Market Gem" and Earnings Play: GVA - Granite Construction expects to exceed expectations: Add granite to your gold stocks!
Last quarters results:
8/05/98 - Granite Construction Reports Record Second Quarter Results
Granite Construction Inc. (NYSE:GVA) announced today that net income for the second quarter ended June 30, 1998 was a record $14,545,000 or $0.80 per share on a diluted basis vs. $8,307,000 or $0.46 per share for the same period in 1997.
7/29/98 - Granite Construction Raises Quarterly Cash Dividend
Granite Construction Inc. (NYSE:GVA) announced today that its board of directors has elected to raise the company's quarterly cash dividend 20% from $0.075 per common share to $0.09 per common share on a pre-split basis. Related stories
Company on a very nice upswing from 24 straight to 34 1/2 until Solomon Smith Barney gives it a downgrade. The downgrade doesn't have a remarkable effect on GVA, and it does not have a substantial loss in the big selloff from August 19.. It's now off its high of 32, with earnings coming out on November 4..
GRANITE CONSTRUCTION INC COM- GVA - DAILY PRICES
DATE OPEN HIGH LOW CLOSE VOLUME
---------------------------------------------------------------
08/06/98 24.666 26.000 24.666 25.750 217,900
08/07/98 25.916 27.166 25.874 27.000 214,400
08/10/98 27.000 27.000 26.062 26.625 50,700
08/11/98 26.437 26.437 26.000 26.375 57,900
08/12/98 26.562 27.875 26.375 27.062 104,000
08/13/98 27.187 27.937 27.062 27.875 135,100
08/14/98 28.062 29.500 28.062 29.500 70,800
08/17/98 29.500 29.750 28.750 29.187 89,500
08/18/98 29.437 32.375 29.250 31.437 189,900
Donwgrade by Solomon Smith Barney
08/19/98 29.625 29.875 25.500 27.125 501,300
08/20/98 27.000 28.500 27.000 28.062 222,300
08/21/98 27.937 27.937 26.750 27.437 165,400
08/24/98 27.500 28.250 27.500 27.875 64,500
08/25/98 27.625 28.937 27.625 28.062 66,200
08/26/98 28.000 28.000 27.437 27.687 48,300
08/27/98 27.562 27.562 26.750 27.250 59,200
08/28/98 27.125 27.437 25.812 26.562 82,400
08/31/98 26.437 26.625 22.875 23.750 90,100
09/01/98 23.750 26.500 23.750 26.000 187,200
09/02/98 26.250 26.250 25.875 25.937 57,900
09/03/98 25.937 26.000 25.500 25.750 40,200
09/04/98 25.812 26.000 25.625 25.750 70,700
09/08/98 26.000 26.500 25.062 25.375 86,700
09/09/98 25.500 25.500 25.000 25.250 147,300
09/10/98 25.000 25.125 24.500 25.125 139,500
09/11/98 24.937 26.625 24.750 26.625 117,100
09/14/98 26.625 27.875 26.625 26.687 86,400
09/15/98 26.750 27.312 26.625 27.125 78,600
09/16/98 27.375 28.562 27.375 28.562 114,200
09/17/98 28.312 28.312 27.562 28.187 44,300
09/18/98 28.750 28.750 28.187 28.500 66,800
09/21/98 28.500 28.937 28.000 28.812 51,700
09/22/98 29.000 29.062 28.812 29.062 73,000
09/23/98 29.000 31.750 29.000 31.375 192,600
09/24/98 31.250 33.500 31.000 31.937 177,800
09/25/98 31.875 32.000 31.625 32.000 132,600
09/28/98 31.000 31.750 31.000 31.562 57,800
09/29/98 31.500 31.500 30.187 30.625 53,300
09/30/98 30.750 30.750 29.187 29.437 45,400
10/01/98 29.937 31.000 29.625 29.625 49,900
10/02/98 29.562 29.562 28.562 29.312 68,100
10/05/98 29.062 29.062 28.000 28.125 64,500
10/06/98 28.250 28.875 28.125 28.625 180,200
10/07/98 28.625 28.687 27.812 28.250 113,900
On august 19, Solomon Smith Barney downgrades it, halting a nice uptrend than nonetheless continues after retreat.
WATSONVILLE, Calif, Oct 7 (Reuters) - Granite Construction
Inc. on Wednesday said it expected to post third-quarter net income that exceeds expectations, thanks to a high volume of work and increased profitability during the three months to Sept. 30.
According to preliminary figures, net income for the quarter could range between $0.70 per share and $0.75 per share on a diluted basis, the company said..
The company, which provides heavy civil construction services throught the United States, is slated to release its third-quarter results after the close of U.S. stock trading on Nov. 4.
Analysts had expected the company to report net income of $0.62 per share versus $0.49 per share in the year ago quarter.
TECHNICALS: MACD is bullish and so is relative strength. Volume indicators could turn more bullish today. Volume on a two day increase. 50 day moving average is bullish. GVS now below its support level of 28 15/16. Stochastics are showin and oversold situation. |
