|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||17.05 - 17.05|
|52 Week Range||14.70 - 20.55|
|Beta (3Y Monthly)||0.93|
|PE Ratio (TTM)||18.43|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Sweden's Skanska does not expect to hit an operating margin target for its construction business this year or next, sending its shares down nearly 3 percent on Wednesday. The Nordic region's biggest building firm, which is also one of the largest in the United States, is restructuring its construction division due to weak profitability and project writedowns, mainly in Poland and the United States. The construction division, which accounts for the bulk of Skanska's group sales, last achieved the target of at least 3.5 percent in 2014 and in 2018 managed just 0.7 percent.
Swedish builder Skanska surprised investors with a proposal to cut its dividend on Friday, sending its shares lower despite a jump in fourth quarter operating profit. The dividend cut will help fund further expansion of the company's residential and commercial property development operations, which have grown at a rapid rate in recent years to account for more than three quarters of profit, it said. Property development involves a greater risk for the builder, but offers higher profits than construction ordered by a client.
Swedish builder Skanska reported on Thursday a decline in third-quarter order intake and confirmed a fall in operating earnings that matched a profit warning issued last month.
Swedish builder Skanska said on Thursday it booked charges of 1.3 billion crowns ($143.81 million) in the third quarter relating to construction projects in the United States and its exit from the power sector in the country. Operating income in the third quarter is expected to be about 500 million crowns, Skanska added. Skanska's new strategy in the U.S. will include divesting operations in the power sector and ending its bidding for mega design-build public-private-partnership projects and engineering, procurement and construction projects, it added.
Shares in Skanska (SKAb.ST) slid on Friday after the Swedish builder reported an unexpected drop in second-quarter profit due to new project writedowns at its struggling U.S. construction business. Operating profit at the Nordic region's biggest builder, and one of the largest in the United States, fell 11 percent to 1.29 billion crowns ($145.1 million), the third quarterly fall in a row. The company said its construction division, which books the bulk of group sales and which has made large writedowns in the United States and Poland in recent quarters, booked additional writedowns at its U.S. business of about 520 million crowns for cost overruns in a civil construction project.
Shares in Skanska slid on Friday after the Swedish builder reported an unexpected drop in second-quarter profit due to new project writedowns at its struggling U.S. construction business. Operating profit at the Nordic region's biggest builder, and one of the largest in the United States, fell 11 percent to 1.29 billion crowns ($145.1 million), the third quarterly fall in a row.