Granite Construction Plans Quarterly Dividend of $0.13 (GVA)

Granite Construction (NYSE:GVA) announced a quarterly dividend on Wednesday, June 5th, Stock Ratings Network.com reports. Stockholders of record on Friday, June 28th will be paid a dividend of $0.13 per share on Friday, July 12th. This represents a $0.52 annualized dividend and a dividend yield of 1.74%.

Several analysts have also recently commented on the stock. Analysts at Goldman Sachs upgraded shares of Granite Construction to a “neutral” rating in a research note to investors on Monday, May 20th. On a related note, analysts at B&T Markets cut their price target on shares of Granite Construction from $39.00 to $36.00 in a research note to investors on Friday, May 10th. They now have a “buy” rating on the stock. Finally, analysts at Sterne Agee upgraded shares of Granite Construction from an “underperform” rating to a “neutral” rating in a research note to investors on Friday, May 10th.

One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $30.08.

Shares of Granite Construction (NYSE: GVA) traded down 1.45% during mid-day trading on Wednesday, hitting $29.90. Granite Construction has a 52 week low of $21.58 and a 52 week high of $37.74. The stock’s 50-day moving average is currently $29.46. The company has a market cap of $1.154 billion and a P/E ratio of 34.09.

Granite Construction (NYSE: GVA) last released its earnings data on Thursday, May 9th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by $0.37. The company had revenue of $378.70 million for the quarter, compared to the consensus estimate of $353.93 million. During the same quarter last year, the company posted ($0.31) earnings per share. Granite Construction’s revenue was up 22.1% compared to the same quarter last year. On average, analysts predict that Granite Construction will post $1.07 earnings per share for the current fiscal year.

Granite Construction Incorporated (NYSE: GVA) is a heavy civil construction contractor in the United States.

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