Granite Construction Incorporated (GVA) To Go Ex-Dividend on December 31st

Granite Construction Incorporated (NYSE:GVA) declared a quarterly dividend on Wednesday, December 11th,RTT News reports. Shareholders of record on Tuesday, December 31st will be given a dividend of 0.13 per share by the construction company on Wednesday, January 15th. This represents a $0.52 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Tuesday, December 31st.

Granite Construction has a payout ratio of 10.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Granite Construction to earn $5.68 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 9.2%.

Granite Construction Trading Down 1.4 %

Shares of Granite Construction stock opened at $89.10 on Friday. Granite Construction has a 12-month low of $43.92 and a 12-month high of $105.20. The company has a quick ratio of 1.46, a current ratio of 1.56 and a debt-to-equity ratio of 0.69. The business’s 50 day moving average is $92.92 and its 200-day moving average is $78.50. The stock has a market cap of $3.89 billion, a P/E ratio of 40.87 and a beta of 1.41.

Granite Construction (NYSE:GVA) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $2.05 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.46). The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.29 billion. Granite Construction had a net margin of 2.80% and a return on equity of 19.04%. The business’s revenue was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.69 EPS. Equities research analysts predict that Granite Construction will post 4.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group upped their price objective on Granite Construction from $61.00 to $70.00 and gave the company a “sell” rating in a research note on Wednesday, October 9th.

Granite Construction Company Profile

Granite Construction Incorporated operates as an infrastructure contractor in the United States. It operates through two segments: Construction and Materials segments. The Construction segment engages in the construction and rehabilitation of roads, pavement preservation, bridges, rail lines, airports, marine ports, dams, reservoirs, aqueducts, infrastructure, and site development for use by the public and water-related construction for municipal agencies, commercial water suppliers, industrial facilities, and energy companies; and construction of various complex projects, including infrastructure/site development, mining, public safety, tunnel, solar storage, and power related projects.