Granite Construction Incorporated (GVA) To Go Ex-Dividend on September 30th

Granite Construction Incorporated (NYSE:GVA) declared a quarterly dividend on Thursday, September 10th. Shareholders of record on Wednesday, September 30th will be given a dividend of 0.13 per share by the construction company on Thursday, October 15th. This represents a c) annualized dividend and a yield of 0.4%. The ex-dividend date is Wednesday, September 30th.

Granite Construction has a dividend payout ratio of 8.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Granite Construction to earn $8.24 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 6.3%.

Granite Construction Trading Up 3.3%

Shares of GVA stock opened at $119.01 on Friday. Granite Construction has a 12-month low of $97.26 and a 12-month high of $162.08. The company has a market capitalization of $5.21 billion, a PE ratio of -27.61 and a beta of 1.32. The firm has a 50 day moving average price of $123.94 and a two-hundred day moving average price of $129.87. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 1.46.

Granite Construction (NYSE:GVA) last posted its earnings results on Thursday, July 30th. The construction company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.09). The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.41 billion. Granite Construction had a negative net margin of 3.32% and a positive return on equity of 27.83%. Granite Construction’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.42 EPS. As a group, analysts predict that Granite Construction will post 6.36 earnings per share for the current year.

About Granite Construction

Granite Construction Incorporated (NYSE:GVA) is a civil infrastructure contractor that delivers construction and engineering services for public and private-sector customers. The company’s work includes the development and rehabilitation of transportation infrastructure such as highways, roads, bridges, airports, rail systems and mass-transit facilities.

Granite also provides services for water and wastewater systems, dams, utilities and other complex infrastructure projects. Its capabilities include project development, construction management, design-build delivery, general contracting, excavation, paving and related construction services.