Granite Construction's analyst price target remains unchanged at $132.00, as analysts cite consistent financial projections and steady expectations for growth.
What's in the News
- Granite has begun work on a $138 million rehabilitation project for the historic Lake Street Bascule Bridge in Chicago. The project ensures preservation of its architectural character while improving functionality. Construction is slated for completion in December 2027. (Key Developments)
- The company secured a $24 million contract to replace aging bridges along Route 66 in Amboy, California. Construction is scheduled between December 2025 and April 2027. (Key Developments)
- Granite was awarded a $39 million contract to construct Reach 6 of the Pajaro River Flood Risk Management Project in Watsonville, California. The project will enhance flood protection for local communities. (Key Developments)
- Layne, a Granite subsidiary, received a $13 million contract to build two high-capacity wells for the Lewis and Clark Regional Water System in South Dakota. This project will boost water supply infrastructure. (Key Developments)
- Granite updated its fiscal year 2025 earnings guidance and expects revenues between $4.35 billion and $4.55 billion. Approximately $150 million is anticipated to be contributed by new acquisitions. (Key Developments)
Valuation Changes
- Consensus Analyst Price Target remains unchanged at $132.00, indicating stable market expectations.
- Discount Rate has risen slightly from 8.61% to 8.66%. This reflects a minor uptick in required return assumptions.
- Revenue Growth projections remain virtually unchanged at 10.80%.
- Net Profit Margin is unchanged at 8.03%, suggesting steady profitability expectations.
- Future P/E has increased marginally from 16.71x to 16.73x. This signals a slight adjustment in anticipated earnings valuation.
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