Research Desk Line-up: Layne Christensen Post Earnings Coverage
LONDON, UK / ACCESSWIRE / September 22, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Granite Construction Inc. (NYSE: GVA) ("Granite"), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/'symbol=GVA. The Company announced on September 20, 2017, that it has received a $23 million runway rehabilitation contract by the San Diego County Regional Airport Authority. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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Discover more of our free reports coverage from other companies within the Heavy Construction industry. Pro-TD has currently selected Layne Christensen Company (NASDAQ: LAYN) for due-diligence and potential coverage as the Company announced on September 11, 2017, its financial and operating results for Q2 FY18 which ended on July 31, 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on Layne Christensen when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on GVA; also brushing on LAYN. Go directly to your stock of interest and access today's free coverage at:
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Details of the Project
The project will be included in Granite's Q3 2017 backlog.
Construction is scheduled to begin in October 2017 and is expected to be concluded in September 2018.
The scope of the work at the San Diego International Airport includes milling and replacing approximately 2.5 million square feet of asphalt concrete pavement; reconstruction of a new taxiway; upgrading of lighting and signage; and new striping and marking.
Other Recent Projects Awarded in 2017
- $41 Million Airport Project in Southern California - On September 14, 2017, Granite was awarded a $41 million contract by the Los Angeles World Airports for the Runway 25R Reconstruction Project at the Los Angeles International Airport.
- $165 Million Military Infrastructure Project in Guam - On August 30, 2017, the Company's joint venture team, comprising of Granite and Obayashi Corp., received a $165 million contract by the Naval Facilities Engineering Command Pacific for the Finegayan Utilities and Site Improvements Phase-I project in Finegayan, Guam.
- $21 Million Bridge Reconstruction Project in Chicago - On August 17, 2017, Granite's wholly-owned subsidiary, Kenny Construction Co., received a $21 million contract by the Illinois Department of Transportation for the reconstruction and widening of the Van Buren Street Bridge in Chicago, Illinois.
- $318 Million Bridge Project in Brooklyn - On July 31, 2017, the Company was awarded a $318 million contract by the New York State Department of Transportation for the construction of phase-2 of the Kosciuszko Bridge in Brooklyn, New York. On the same date, Granite's joint venture team, comprising of Granite Construction Co. and Archer Western received South Capitol Street Corridor Phase-1 design-build contract by the District of Columbia Department of Transportation.
- $20 Million Dam Project in Northern California - On July 27, 2017, Granite was awarded a $20 million contract by the South Feather Water & Power Agency for the Lost Creek Dam Crest Modification Project in Strawberry Valley, CA.
- $855 Million Joint Venture Design-Build Highway Project in Texas - On July 18, 2017, the Company announced that Grand Parkway Infrastructure, LLC, comprised of Granite Construction Co., Ferrovial Agroman US Corp., and Webber, LLC, has been awarded the SH-99 Grand Parkway Design-Build Contract for Segments H, I-1, and I-2 by the Texas Department of Transportation.
About Granite Construction Inc.
Founded in 1922, Granite is one of the largest diversified construction and construction materials Companies in the United States. The Company operates through three segments: (i) Construction, (ii) Large Project Construction, and (iii) Construction Materials. Granite is headquartered in Watsonville, California.
Last Close Stock Review
On Thursday, September 21, 2017, the stock closed the trading session at $57.53, rising 1.11% from its previous closing price of $56.90. A total volume of 226.81 thousand shares have exchanged hands. Granite Construction's stock price surged 21.96% in the last three months, 22.82% in the past six months, and 19.65% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have gained 4.60%. The stock is trading at a PE ratio of 52.59 and has a dividend yield of 0.90%. At Thursday's closing price, the stock's net capitalization stands at $2.29 billion.
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