Great Lakes Dredge & Dock (NASDAQ:GLDD) posted its earnings results on Tuesday. The construction company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.15, MarketWatch Earnings reports. The firm had revenue of $204.32 million for the quarter, compared to the consensus estimate of $199.25 million. Great Lakes Dredge & Dock had a negative return on equity of 8.35% and a negative net margin of 3.69%. The business’s quarterly revenue was up 25.1% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.08) earnings per share.
Shares of GLDD stock traded up $0.27 on Wednesday, reaching $7.00. The company’s stock had a trading volume of 17,958 shares, compared to its average volume of 116,558. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.54 and a current ratio of 1.79. Great Lakes Dredge & Dock has a 12-month low of $4.15 and a 12-month high of $6.97. The company has a market capitalization of $371.34 million, a PE ratio of -26.04 and a beta of 0.62.
In other Great Lakes Dredge & Dock news, CEO Lasse Petterson acquired 50,000 shares of the stock in a transaction that occurred on Tuesday, August 14th. The shares were bought at an average price of $5.30 per share, for a total transaction of $265,000.00. Following the completion of the transaction, the chief executive officer now owns 675,609 shares of the company’s stock, valued at approximately $3,580,727.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 9.13% of the company’s stock.
Several equities research analysts have issued reports on the company. ValuEngine upgraded Great Lakes Dredge & Dock from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 2nd. BidaskClub downgraded Great Lakes Dredge & Dock from a “hold” rating to a “sell” rating in a research report on Tuesday, October 23rd. TheStreet upgraded Great Lakes Dredge & Dock from a “d+” rating to a “c-” rating in a research report on Monday, September 10th. Noble Financial set a $8.00 target price on Great Lakes Dredge & Dock and gave the stock a “buy” rating in a research report on Thursday, September 27th. Finally, Zacks Investment Research upgraded Great Lakes Dredge & Dock from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a research report on Monday, October 1st. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Great Lakes Dredge & Dock has a consensus rating of “Buy” and a consensus target price of $7.50.
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Great Lakes Dredge & Dock Company Profile
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.
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