Granite Construction Incorporated (NYSE:GVA) Plans $0.13 Quarterly Dividend

by · The Cerbat Gem

Granite Construction Incorporated (NYSE:GVA – Get Free Report) announced a quarterly dividend on Thursday, December 11th. Investors 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 0.5%. The ex-dividend date is Wednesday, December 31st.

Granite Construction has a payout ratio of 8.6% meaning its dividend is sufficiently covered by earnings. 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 Stock Down 1.0%

GVA traded down $1.14 during trading on Friday, reaching $114.06. 49,600 shares of the stock traded hands, compared to its average volume of 631,523. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of 32.80 and a beta of 1.33. Granite Construction has a fifty-two week low of $69.08 and a fifty-two week high of $115.88. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.12. The stock’s 50-day simple moving average is $105.05 and its two-hundred day simple moving average is $101.32.

Granite Construction (NYSE:GVA – Get Free Report) last issued its earnings results on Thursday, November 6th. The construction company reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.14. Granite Construction had a return on equity of 24.04% and a net margin of 4.31%.The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period in the prior year, the firm posted $2.05 EPS. The business’s revenue was up 12.1% compared to the same quarter last year. As a group, equities research analysts expect that Granite Construction will post 5.49 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GVA. Weiss Ratings restated a “buy (b)” rating on shares of Granite Construction in a report on Monday. DA Davidson boosted their target price on shares of Granite Construction from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Wall Street Zen upgraded shares of Granite Construction from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. The Goldman Sachs Group assumed coverage on shares of Granite Construction in a research note on Monday, November 24th. They issued a “neutral” rating and a $109.00 price objective for the company. Finally, Zacks Research cut shares of Granite Construction from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 12th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Granite Construction has a consensus rating of “Hold” and an average target price of $119.50.

Check Out Our Latest Research Report on Granite Construction

Granite Construction Company Profile

(Get Free Report)

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.

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