With no change in the discount rate or future P/E multiple, analysts have left Granite Construction’s consensus price target unchanged at $110.33.
What's in the News
- Secured $230 million in work packages for the Garnet Valley Wastewater System project, part of a $900 million infrastructure program in Southern Nevada; construction underway with completion targeted for December 2027.
- Awarded $158 million federally funded contract (joint venture with Obayashi Corp) for missile defense infrastructure construction for the Missile Defense Agency in Guam, with project completion expected by July 2028.
- Selected for key water infrastructure contracts in Nevada, including a $2 million preconstruction agreement and joint venture leadership for the Horizon Lateral Program, potentially transitioning into a $70 million construction phase beginning 2027.
- Won multiple transportation infrastructure contracts, including $111 million for Utah’s I-215 corridor, $17 million bridge replacement in Riverdale, Utah, $21 million for a multi-modal project in Carson City, and $54 million Parks Highway realignment in Alaska.
- Added to Russell 2000 Defensive, Value-Defensive, and Growth-Defensive Indexes, reflecting increased institutional recognition; upcoming Q2 2025 results expected on July 31.
Valuation Changes
Summary of Valuation Changes for Granite Construction
- The Consensus Analyst Price Target remained effectively unchanged, at $110.33.
- The Discount Rate for Granite Construction remained effectively unchanged, at 8.11%.
- The Future P/E for Granite Construction remained effectively unchanged, at 11.55x.
Disclaimer
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