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Granite Construction (NYSE:GVA) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Tuesday. They currently have a $34.20 target price on the stock. Zacks‘s target price would indicate a potential downside of 7.24% from the company’s current price.

Shares of Granite Construction (NYSE:GVA) traded up 2.47% during mid-day trading on Tuesday, hitting $36.87. 281,403 shares of the company’s stock traded hands. Granite Construction has a 1-year low of $27.88 and a 1-year high of $40.55. The stock’s 50-day moving average is $35.6 and its 200-day moving average is $35.96. The company’s market cap is $1.442 billion.

Granite Construction (NYSE:GVA) last released its earnings data on Wednesday, April 30th. The company reported ($0.49) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.33) by $0.16. The company had revenue of $379.80 million for the quarter, compared to the consensus estimate of $426.95 million. During the same quarter in the prior year, the company posted ($0.57) earnings per share. The company’s quarterly revenue was up .3% on a year-over-year basis. On average, analysts predict that Granite Construction will post $1.47 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Thursday, June 26th.

Separately, analysts at Ned Davis Research upgraded shares of Granite Construction from a “sell” rating to a “neutral” rating in a research note on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Granite Construction has an average rating of “Hold” and a consensus target price of $35.30.

Granite Construction Incorporated is a diversified heavy civil contractors and construction materials producers in the United States.

To view Zacks’ full report, visit Zacks’ official website.

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