Posted on November 27, 2018
Great Lakes Dredge & Dock (NASDAQ:GLDD) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Thursday, November 1st.
GLDD has been the topic of a number of other reports. ValuEngine raised shares of Great Lakes Dredge & Dock from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 19th. Zacks Investment Research lowered shares of Great Lakes Dredge & Dock from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 4th. Noble Financial set a $8.00 price objective on shares of Great Lakes Dredge & Dock and gave the company a “buy” rating in a research note on Thursday, August 2nd. Finally, TheStreet raised shares of Great Lakes Dredge & Dock from a “d+” rating to a “c-” rating in a research note on Monday, September 10th. Two analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the company. Great Lakes Dredge & Dock presently has an average rating of “Buy” and a consensus price target of $7.88.
Shares of GLDD stock opened at $7.15 on Thursday. Great Lakes Dredge & Dock has a 52 week low of $4.15 and a 52 week high of $7.72. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.56 and a quick ratio of 1.33. The company has a market capitalization of $446.73 million, a price-to-earnings ratio of -26.48 and a beta of 0.62.
Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its earnings results on Tuesday, November 6th. The construction company reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.15. Great Lakes Dredge & Dock had a negative net margin of 1.07% and a negative return on equity of 0.73%. The firm had revenue of $204.32 million for the quarter, compared to analyst estimates of $199.25 million. During the same period in the previous year, the firm posted ($0.08) EPS. The company’s revenue for the quarter was up 25.1% compared to the same quarter last year. On average, analysts predict that Great Lakes Dredge & Dock will post 0.11 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of GLDD. Walthausen & Co. LLC bought a new stake in shares of Great Lakes Dredge & Dock in the 3rd quarter valued at $14,678,000. Essex Investment Management Co. LLC lifted its position in shares of Great Lakes Dredge & Dock by 419.7% during the 3rd quarter. Essex Investment Management Co. LLC now owns 325,593 shares of the construction company’s stock valued at $2,019,000 after acquiring an additional 262,946 shares during the period. TCW Group Inc. lifted its position in shares of Great Lakes Dredge & Dock by 45.3% during the 3rd quarter. TCW Group Inc. now owns 807,995 shares of the construction company’s stock valued at $5,010,000 after acquiring an additional 251,752 shares during the period. BlackRock Inc. lifted its position in shares of Great Lakes Dredge & Dock by 5.5% during the 2nd quarter. BlackRock Inc. now owns 3,950,370 shares of the construction company’s stock valued at $20,739,000 after acquiring an additional 205,172 shares during the period. Finally, Foundry Partners LLC lifted its position in shares of Great Lakes Dredge & Dock by 23.1% during the 2nd quarter. Foundry Partners LLC now owns 685,950 shares of the construction company’s stock valued at $3,601,000 after acquiring an additional 128,575 shares during the period. 76.04% of the stock is currently owned by institutional investors.
About Great Lakes Dredge & Dock
Great Lakes Dredge & Dock Corporation provides dredging services in the United States and internationally. It operates through two segments, Dredging, and Environmental & Infrastructure. The Dredging segment is involved in capital dredging that consists of port expansion projects, coastal restoration and land reclamations, trench digging for pipelines, tunnels and cables, and other dredging related to the construction of breakwaters, jetties, canals, and other marine structures.
Source: Fairfield Current
