Research Analysts Offer Predictions for GLDD FY2024 Earnings

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) – Equities researchers at Noble Financial decreased their FY2024 earnings estimates for Great Lakes Dredge & Dock in a report released on Wednesday, November 6th. Noble Financial analyst J. Gomes now expects that the construction company will earn $0.78 per share for the year, down from their prior forecast of $0.81. Noble Financial currently has a “Outperform” rating and a $14.00 target price on the stock. The consensus estimate for Great Lakes Dredge & Dock’s current full-year earnings is $0.80 per share.

Separately, StockNews.com lowered 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 Stock Down 0.6 %

Shares of NASDAQ:GLDD opened at $12.38 on Friday. The firm’s 50 day moving average price is $10.92 and its 200 day moving average price is $9.54. The stock has a market cap of $831.81 million, a price-to-earnings ratio of 19.05, a price-to-earnings-growth ratio of 0.41 and a beta of 1.13. Great Lakes Dredge & Dock has a fifty-two week low of $6.11 and a fifty-two week high of $12.59. The company has a quick ratio of 1.13, a current ratio of 1.32 and a debt-to-equity ratio of 0.98.

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 the consensus estimate of $0.18 by ($0.05). The company had revenue of $191.17 million for the quarter, compared to analysts’ expectations of $180.80 million. Great Lakes Dredge & Dock had a return on equity of 10.05% and a net margin of 6.61%. During the same period last year, the business earned ($0.09) EPS.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Quarry LP grew its holdings in shares of Great Lakes Dredge & Dock by 68.5% during the 2nd quarter. Quarry LP now owns 3,097 shares of the construction company’s stock worth $27,000 after purchasing an additional 1,259 shares during the period. Innealta Capital LLC acquired a new stake in shares of Great Lakes Dredge & Dock during the 2nd quarter valued at approximately $30,000. nVerses Capital LLC raised its position in shares of Great Lakes Dredge & Dock by 400.0% during the 3rd quarter. nVerses Capital LLC now owns 3,500 shares of the construction company’s stock valued at $37,000 after acquiring an additional 2,800 shares in the last quarter. CWM LLC raised its position in shares of Great Lakes Dredge & Dock by 520.5% during the 2nd quarter. CWM LLC now owns 5,051 shares of the construction company’s stock valued at $44,000 after acquiring an additional 4,237 shares in the last quarter. Finally, ARS Investment Partners LLC raised its position in shares of Great Lakes Dredge & Dock by 11.0% during the 2nd quarter. ARS Investment Partners LLC now owns 12,150 shares of the construction company’s stock valued at $107,000 after acquiring an additional 1,200 shares in the last quarter. Institutional investors and hedge funds own 89.11% of the company’s stock.

Insider Activity at Great Lakes Dredge & Dock

In other Great Lakes Dredge & Dock news, CEO Lasse Petterson sold 46,510 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $9.08, for a total value of $422,310.80. Following the completion of the sale, the chief executive officer now owns 931,101 shares of the company’s stock, valued at approximately $8,454,397.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 128,990 shares of company stock worth $1,174,747 in the last three months. Insiders own 2.10% 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.