Granite Construction Incorporated (GVA) to Issue Quarterly Dividend of $0.13 on January 15th

Granite Construction Incorporated (NYSE:GVA) declared a quarterly dividend on Wednesday, December 11th,RTT News reports. Stockholders of record on Tuesday, December 31st will be paid 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 dividend yield of 0.54%. 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. 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 1.7 %

Shares of GVA stock opened at $95.52 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.46 and a current ratio of 1.56. Granite Construction has a fifty-two week low of $43.92 and a fifty-two week high of $105.20. The stock has a 50 day simple moving average of $90.83 and a two-hundred day simple moving average of $76.07. The company has a market cap of $4.18 billion, a P/E ratio of 43.82 and a beta of 1.41.

Granite Construction (NYSE:GVA) last posted its earnings results on Thursday, October 31st. The construction company reported $2.05 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.46). The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.29 billion. Granite Construction had a return on equity of 19.04% and a net margin of 2.80%. The company’s revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.69 earnings per share. Research analysts forecast that Granite Construction will post 4.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group increased their price target on Granite Construction from $61.00 to $70.00 and gave the company a “sell” rating in a research report 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.