Great Lakes Dredge & Dock (NASDAQ:GLDD) Announces Earnings Results

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

Great Lakes Dredge & Dock Price Performance

GLDD traded up $0.07 on Thursday, reaching $12.53. The company had a trading volume of 134,003 shares, compared to its average volume of 426,750. The business has a 50 day simple moving average of $10.86 and a 200 day simple moving average of $9.52. The company has a market cap of $841.89 million, a price-to-earnings ratio of 19.17, a P/E/G ratio of 0.42 and a beta of 1.13. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.13 and a current ratio of 1.32. Great Lakes Dredge & Dock has a 52-week low of $6.11 and a 52-week high of $12.59.

Insider Activity at Great Lakes Dredge & Dock

In related news, CEO Lasse Petterson sold 53,771 shares of the firm’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 sale, the chief executive officer now directly owns 987,758 shares of the company’s stock, valued at $8,949,087.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 128,990 shares of company stock valued at $1,174,747 over the last three months. 2.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on GLDD shares. Noble Financial upped their target price on shares of Great Lakes Dredge & Dock from $11.00 to $14.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd. StockNews.com downgraded shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a report on Thursday, August 15th.

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.