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Great Lakes Dredge & Dock Corporation Releases Earnings Results, Reports EPS of $-0.07

Posted on May 5, 2016

By Andy Golston, TheMarketDigest

Great Lakes Dredge & Dock Corporation (GLDD) reported quarterly earnings results on Tuesday, May-3-2016. The company reported $-0.07 EPS for the quarter. Analysts had a consensus estimate of $-0.07. The company posted revenue of $163.10 million in the period, compared to analysts expectations of $178.42 million. The company’s revenue was down -6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.14 EPS.

Many Wall Street Analysts have commented on Great Lakes Dredge & Dock Corporation. Shares were Reiterated by Imperial Capital on Feb 24, 2016 to “Outperform” and Lowered the Price Target to $ 5.50 from a previous price target of $6.50 .

Great Lakes Dredge & Dock Corporation opened for trading at $4.62 and hit $4.72 on the upside on Monday, eventually ending the session at $4.61, with a gain of 0.88% or 0.04 points. The heightened volatility saw the trading volume jump to 1,27,438 shares. Company has a market cap of $279 M.

Great Lakes Dredge & Dock Corporation (Great Lakes) is a provider of dredging services. Great Lakes provides dredging services in the East West and Gulf Coasts of the United States and around the world. The Company operates in two segments: Dredging Operations which involves in the enhancement or preservation of navigability of waterways or the protection of shorelines through the removal or replenishment of soil sand or rock and Environmental & Remediation Operations which provides soil water and sediment environmental remediation for clients in both the public and private sectors in the United States. The Company has a 50% interest in Amboy Aggregates (Amboy) a sand dredging operation in New Jersey; A 50% interest in Lower Main Street Development LLC (Lower Main) land development and sale business and a 50% interest in TerraSea Environmental Solutions (TerraSea) a remediation business.

Source: The Market Digest

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