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

Granite Construction Incorporated (NYSE:GVA) declared a quarterly dividend on Thursday, December 11th. Stockholders of record on Wednesday, December 31st will be paid a dividend of 0.13 per share by the construction company on Thursday, January 15th. This represents a c) annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Wednesday, December 31st.

Granite Construction has a dividend payout ratio of 8.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Granite Construction to earn $6.97 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 7.5%.

Granite Construction Trading Up 0.9%

Shares of GVA stock opened at $119.46 on Monday. The stock has a market cap of $5.21 billion, a P/E ratio of 34.43 and a beta of 1.33. Granite Construction has a 1 year low of $69.08 and a 1 year high of $119.74. The company has a current ratio of 1.21, a quick ratio of 1.12 and a debt-to-equity ratio of 0.80. The stock has a 50 day simple moving average of $107.27 and a 200 day simple moving average of $103.54.

Granite Construction (NYSE:GVA) last announced its quarterly earnings data on Thursday, November 6th. The construction company reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.14. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Granite Construction had a return on equity of 24.04% and a net margin of 4.31%.The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.05 EPS. On average, research analysts predict that Granite Construction will post 5.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GVA has been the subject of several analyst reports. The Goldman Sachs Group initiated coverage on shares of Granite Construction in a research report on Monday, November 24th. They issued a “neutral” rating and a $109.00 target price for the company. Zacks Research cut Granite Construction from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 12th. DA Davidson lifted their price target on Granite Construction from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. Weiss Ratings restated a “buy (b)” rating on shares of Granite Construction in a research report on Monday, December 22nd. Finally, Wall Street Zen cut Granite Construction from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $119.50.

Granite Construction Company Profile

Granite Construction Inc is a publicly traded heavy civil contractor and construction materials producer based in Watsonville, California. The company specializes in delivering large-scale infrastructure projects for government and private clients, focusing on the development, rehabilitation and maintenance of transportation, water resource and industrial facilities. Its turnkey solutions span the full project lifecycle, from preconstruction and design-build to construction management and facilities maintenance.

In its construction segment, Granite undertakes highway and bridge building, airport runway and taxiway construction, marine terminal and port improvements, dam and reservoir projects, transit systems and underground utilities.