Shareholders Should Be Pleased With Granite Construction Incorporated’s (NYSE:GVA) Price
When close to half the companies in the United States have price-to-earnings ratios (or “P/E’s”) below 17x, you may consider Granite Construction Incorporated (NYSE:GVA) as a stock to avoid entirely with its 31.6x P/E ratio. Nonetheless, we’d need to dig a little deeper to determine if there is a rational basis for the highly elevated P/E.
Granite Construction certainly has been doing a good job lately as it’s been growing earnings more than most other companies. It seems that many are expecting the strong earnings…
