Posted on December 11, 2018
Great Lakes Dredge & Dock (NASDAQ:GLDD) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Wednesday, November 21st.
A number of other equities analysts have also recently commented on the company. Noble Financial set a $8.00 price target on Great Lakes Dredge & Dock and gave the stock a “buy” rating in a research note on Thursday, August 2nd. TheStreet raised Great Lakes Dredge & Dock from a “d+” rating to a “c-” rating in a research note on Monday, September 10th. Zacks Investment Research cut Great Lakes Dredge & Dock from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Finally, ValuEngine cut Great Lakes Dredge & Dock from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 18th. One investment analyst has rated the stock with a hold rating, one has issued a buy rating and three have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $7.88.
NASDAQ:GLDD opened at $7.07 on Wednesday. The company has a market capitalization of $452.98 million, a P/E ratio of -26.19 and a beta of 0.64. Great Lakes Dredge & Dock has a 1-year low of $4.15 and a 1-year high of $7.72. The company has a quick ratio of 1.33, a current ratio of 1.56 and a debt-to-equity ratio of 1.57.
Great Lakes Dredge & Dock (NASDAQ:GLDD) last released 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. The company had revenue of $204.32 million during the quarter, compared to the consensus estimate of $199.25 million. Great Lakes Dredge & Dock had a negative return on equity of 0.73% and a negative net margin of 1.07%. Great Lakes Dredge & Dock’s quarterly revenue was up 25.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.08) EPS. On average, equities analysts forecast that Great Lakes Dredge & Dock will post 0.11 EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its stake in Great Lakes Dredge & Dock by 129.5% in the third quarter. JPMorgan Chase & Co. now owns 26,596 shares of the construction company’s stock worth $165,000 after purchasing an additional 15,005 shares during the period. Metropolitan Life Insurance Co. NY grew its stake in Great Lakes Dredge & Dock by 135.6% in the second quarter. Metropolitan Life Insurance Co. NY now owns 26,679 shares of the construction company’s stock worth $140,000 after purchasing an additional 15,353 shares during the period. MetLife Investment Advisors LLC grew its stake in Great Lakes Dredge & Dock by 42.3% in the third quarter. MetLife Investment Advisors LLC now owns 39,535 shares of the construction company’s stock worth $245,000 after purchasing an additional 11,760 shares during the period. HighPoint Advisor Group LLC purchased a new stake in Great Lakes Dredge & Dock in the second quarter worth $216,000. Finally, Laurel Wealth Advisors Inc. purchased a new stake in Great Lakes Dredge & Dock in the third quarter worth $356,000. 76.14% 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: Baseball Daily News
