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

Granite Construction Incorporated (NYSE:GVA) announced a quarterly dividend on Thursday, June 4th. Investors of record on Tuesday, June 30th will be given a dividend of 0.13 per share by the construction company on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Tuesday, June 30th.

Granite Construction has a payout ratio of 8.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Granite Construction to earn $7.94 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 6.5%.

Granite Construction Trading Up 2.4%

Shares of GVA stock opened at $160.44 on Friday. Granite Construction has a 1-year low of $89.80 and a 1-year high of $162.08. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 0.80. The stock has a market cap of $7.02 billion, a price-to-earnings ratio of 46.24 and a beta of 1.32. The stock has a 50-day moving average of $137.25 and a 200-day moving average of $127.90.

Granite Construction (NYSE:GVA) last posted its quarterly earnings data on Thursday, April 30th. The construction company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of ($0.77) by $1.03. The company had revenue of $912.47 million for the quarter, compared to analyst estimates of $782.26 million. Granite Construction had a return on equity of 24.90% and a net margin of 3.99%.The firm’s quarterly revenue was up 30.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.01 earnings per share. On average, equities research analysts forecast that Granite Construction will post 6.14 earnings per share for the current year.

About Granite Construction

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.