Noble Financial Issues Positive Estimate for GLDD Earnings

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) – Research analysts at Noble Financial upped their Q4 2024 earnings estimates for Great Lakes Dredge & Dock in a note issued to investors on Wednesday, November 6th. Noble Financial analyst J. Gomes now forecasts that the construction company will post earnings of $0.22 per share for the quarter, up from their prior estimate of $0.21. Noble Financial currently has a “Outperform” rating and a $14.00 price objective on the stock. The consensus estimate for Great Lakes Dredge & Dock’s current full-year earnings is $0.80 per share. Noble Financial also issued estimates for Great Lakes Dredge & Dock’s FY2025 earnings at $0.93 EPS.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last announced its earnings results on Tuesday, November 5th. The construction company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.05). Great Lakes Dredge & Dock had a return on equity of 10.05% and a net margin of 6.61%. The company had revenue of $191.17 million during the quarter, compared to the consensus estimate of $180.80 million. During the same period in the prior year, the firm posted ($0.09) earnings per share.

Separately, StockNews.com downgraded shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th.

Great Lakes Dredge & Dock Trading Up 7.3 %

Shares of NASDAQ GLDD opened at $12.46 on Thursday. The company has a current ratio of 1.32, a quick ratio of 1.13 and a debt-to-equity ratio of 0.98. The company has a market cap of $837.19 million, a PE ratio of 19.17, a P/E/G ratio of 0.42 and a beta of 1.13. The company has a 50-day moving average of $10.86 and a two-hundred day moving average of $9.52. Great Lakes Dredge & Dock has a 1-year low of $6.11 and a 1-year high of $12.59.

Insider Buying and Selling at Great Lakes Dredge & Dock

In other Great Lakes Dredge & Dock news, CEO Lasse Petterson sold 53,771 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $9.06, for a total value of $487,165.26. Following the completion of the sale, the chief executive officer now owns 987,758 shares of the company’s stock, valued at approximately $8,949,087.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders sold 128,990 shares of company stock valued at $1,174,747. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Great Lakes Dredge & Dock

Several large investors have recently bought and sold shares of the company. Sequoia Financial Advisors LLC acquired a new position in shares of Great Lakes Dredge & Dock in the third quarter valued at approximately $1,079,000. Marshall Wace LLP acquired a new position in shares of Great Lakes Dredge & Dock in the second quarter valued at approximately $1,823,000. Hsbc Holdings PLC acquired a new position in shares of Great Lakes Dredge & Dock in the second quarter valued at approximately $227,000. Sanctuary Advisors LLC acquired a new position in shares of Great Lakes Dredge & Dock in the second quarter valued at approximately $2,057,000. Finally, Bank of Montreal Can boosted its holdings in shares of Great Lakes Dredge & Dock by 600.5% in the second quarter. Bank of Montreal Can now owns 116,867 shares of the construction company’s stock valued at $1,038,000 after buying an additional 100,183 shares during the period. Institutional investors own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Company Profile

Great Lakes Dredge & Dock Corporation provides dredging services in the United States. The company engages 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.