Great Lakes Dredge & Dock (NASDAQ:GLDD) Announces Earnings Results, Misses Estimates By $0.05 EPS

Great Lakes Dredge & Dock (NASDAQ:GLDD) issued its quarterly earnings results on Tuesday. The construction company reported $0.13 earnings per share 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 company had revenue of $191.17 million during the quarter, compared to analysts’ expectations of $180.80 million. During the same period in the prior year, the business posted ($0.09) earnings per share.

Great Lakes Dredge & Dock Trading Up 2.7 %

Shares of GLDD stock traded up $0.33 during trading on Friday, hitting $12.71. 173,523 shares of the stock traded hands, compared to its average volume of 427,170. The firm has a market capitalization of $855.03 million, a P/E ratio of 14.49, a price-to-earnings-growth ratio of 0.41 and a beta of 1.13. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.32 and a quick ratio of 1.13. The firm’s fifty day moving average price is $10.92 and its 200-day moving average price is $9.54. Great Lakes Dredge & Dock has a 52-week low of $6.12 and a 52-week high of $12.77.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Noble Financial raised 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 lowered shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th.

Insider Activity

In other news, CEO Lasse Petterson sold 46,510 shares of Great Lakes Dredge & Dock stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $9.08, for a total transaction of $422,310.80. Following the sale, the chief executive officer now owns 931,101 shares of the company’s stock, valued at approximately $8,454,397.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have sold 128,990 shares of company stock valued at $1,174,747. 2.20% of the stock is currently owned by company insiders.

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.