Great Lakes Dredge & Dock Corporation (GLDD) eyeing new wave of investors

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Posted November 20, 2019

Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) closed the previous session at $10.01, down by -0.04 or -0.40% lower on its price over the last trading period. Shares of the company have traded -1.48% down in the last 5 days, with the price reaching as high as $10.16 since 11/15/19. The stock however has recovered +7.63% since hitting 5-day low of $9.30. The GLDD stock is -9.90% lower than the $11.11 top value it marked over a period of month. Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) has a 52-week price range of $6.09- $11.81. The stock is 51.21% up year-to-date. Can GLDD go on to record further gains or will the drop below $10.05 be witnessed again in coming days?

In comparison, let’s see recent movement of other stocks the recent users of Yahoo Finance’s stock information-accessing system have also looked at before they searched Great Lakes Dredge & Dock Corporation (GLDD). Shares of Primoris Services Corporation (NASDAQ:PRIM) changed $0.0 or a drop of 0.00% to close at $21.65, while the stock of Granite Construction Incorporated (NYSE:GVA) dropped nearly -0.66% in the last session to close at price of $27.10. Tutor Perini Corporation (NYSE:TPC) lost -$0.69 in value, or -3.77% to see deals exchanging hands at $17.63 in the last period. MYR Group Inc. (NASDAQ:MYRG) dropped -$0.21 or about -0.60 to see its shares trade at $34.63.

The total number of analysts who have rated GLDD as a buy is 2, with just 0 of 2 recommending it as a Sell. 2 analysts of the 0 rated it as underweight; while 0 advised Hold and a further 0 say the stock is Overweight.

Lets us now look at some key statistics for the company and see what they tell us about its books. Great Lakes Dredge & Dock Corporation has a market valuation of $651.95 million, with its Enterprise Value at $853.42 million. The enterprise value (EV) is 23.61% off Great Lakes Dredge & Dock Corporation’s market cap. Shares traded in the last session stood at 227068 while the average trading volume is 444.36K. Insiders own 2.20% of the shares institutions own 86.90% as outstanding shares currently stand at 65.13 million. When we look at the 20-day simple moving average, GLDD is -3.32%, while that moves to -2.39% over its 50-day SMA and the SMA200 is 0.39%.

When we look at the consensus estimate for GLDD shares, we find that Wall Street analysts have given the average target price of $13.90. The earnings estimate for the current quarter is 0.15, lower than the 0.17 expected for the next quarter. The stock has earnings per share estimate ranging between a low of 0.14 and a high of 0.15, with the coefficient variance at 4.88. For this fiscal year, the estimate climbs to 2.00 versus the 2.00 expected for the next year. GLDD has current-year EPS range between a low of 0.78 and a high of 0.79, with the coefficient variance at 0.90.

The stock’s trailing per-earning (P/E) is $12.77 while the forward P/E is $12.21. The company’s trailing 12-month price-to-sales ratio is 0.98. In terms of profitability, the company has a profit margin of 3.90% and a trailing 12-month (ttm) operating margin of 14.70%. The company’s gross margin is 22.70%. GLDD is one of the hottest stocks right now and that shows in its potential upside on returns with a 3.10% ROA for the last 12 months and a return on equity (ROE) of 10.60% over the same period.

For the fiscal quarter ending 12/30/2018, Great Lakes Dredge & Dock Corporation had revenue of $174.05M. The earnings per share for the most recent quarter were -0.12. The EPS for the recent quarter missed consensus estimates by -$0.12 per share after analysts had predicted $0. EPS posted in 3 out of the last 3 quarters have beaten analysts’ estimates.

The investor community is excited about the GLDD stock, with the Barchart 24% Sell showing that the stock could be headed for a massive downtrend. The stock’s 1-month chart already shows that the stock is -7.83% down and -2.44% lower in the last 3 months. Its 12-month performance is showing the stock trending higher by 45.49%. There might be a slight pullback as $10.13 is the first resistance point and if crossed $10.25 should come in play as the second resistance level. GLDD could see support around 9.92 and will later test the 9.83 support.