Posted on November 9, 2017
By Mickey Rousseau, dispatch tribunal
Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) announced its quarterly earnings data on Tuesday. The construction company reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.07), Briefing.com reports. The company had revenue of $163.31 million during the quarter, compared to the consensus estimate of $175.95 million. Great Lakes Dredge & Dock Corporation had a negative net margin of 2.62% and a positive return on equity of 1.00%. Great Lakes Dredge & Dock Corporation’s revenue was down 17.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.08 EPS.
Shares of Great Lakes Dredge & Dock Corporation (NASDAQ GLDD) traded down $0.30 during midday trading on Tuesday, hitting $4.85. The stock had a trading volume of 269,276 shares, compared to its average volume of 230,448. The company has a market cap of $297.82, a PE ratio of 101.00 and a beta of 0.83. The company has a debt-to-equity ratio of 1.82, a current ratio of 2.03 and a quick ratio of 1.74. Great Lakes Dredge & Dock Corporation has a 12 month low of $3.05 and a 12 month high of $5.45.
Several equities analysts have recently weighed in on GLDD shares. Cantor Fitzgerald restated a “buy” rating and issued a $6.50 price objective on shares of Great Lakes Dredge & Dock Corporation in a report on Tuesday, July 11th. BidaskClub cut Great Lakes Dredge & Dock Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, ValuEngine upgraded Great Lakes Dredge & Dock Corporation from a “sell” rating to a “hold” rating in a report on Friday, August 4th.
In other news, CEO Lasse Petterson acquired 17,255 shares of Great Lakes Dredge & Dock Corporation stock in a transaction dated Thursday, August 10th. The stock was bought at an average price of $3.70 per share, for a total transaction of $63,843.50. Following the completion of the acquisition, the chief executive officer now directly owns 349,176 shares in the company, valued at approximately $1,291,951.20. The transaction was disclosed in a legal filing with the SEC. Insiders bought a total of 286,904 shares of company stock valued at $1,077,155 in the last 90 days. 8.24% of the stock is owned by corporate insiders.
Source: dispatch tribunal
