Shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) have earned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.
Brokers have set a twelve-month consensus price objective of $6.50 for the company, according to Zacks. Zacks has also assigned Great Lakes Dredge & Dock Corporation an industry rank of 168 out of 265 based on the ratings given to its competitors.
GLDD has been the subject of a number of analyst reports. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $6.50 price target on shares of Great Lakes Dredge & Dock Corporation in a research report on Tuesday, July 11th. ValuEngine lowered Great Lakes Dredge & Dock Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th.
In other Great Lakes Dredge & Dock Corporation news, Director Robert B. Uhler acquired 10,000 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were acquired at an average cost of $4.55 per share, for a total transaction of $45,500.00. Following the completion of the purchase, the director now owns 92,311 shares of the company’s stock, valued at approximately $420,015.05. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.24% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in Great Lakes Dredge & Dock Corporation during the first quarter worth approximately $101,000. KBC Group NV acquired a new position in Great Lakes Dredge & Dock Corporation during the first quarter worth approximately $122,000. Oxford Asset Management acquired a new position in Great Lakes Dredge & Dock Corporation during the first quarter worth approximately $146,000. American International Group Inc. raised its position in Great Lakes Dredge & Dock Corporation by 7.1% in the first quarter. American International Group Inc. now owns 36,391 shares of the construction company’s stock worth $146,000 after buying an additional 2,414 shares during the last quarter. Finally, Menta Capital LLC raised its position in Great Lakes Dredge & Dock Corporation by 28.7% in the first quarter. Menta Capital LLC now owns 38,266 shares of the construction company’s stock worth $153,000 after buying an additional 8,522 shares during the last quarter. Institutional investors and hedge funds own 71.91% of the company’s stock.
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Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) traded down 3.53% during midday trading on Monday, hitting $4.10. The stock had a trading volume of 469,383 shares. The company’s 50-day moving average price is $4.18 and its 200 day moving average price is $4.45. Great Lakes Dredge & Dock Corporation has a 12-month low of $3.05 and a 12-month high of $5.45. The stock’s market cap is $251.22 million.
Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) last announced its quarterly earnings results on Wednesday, May 3rd. The construction company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by $0.02. Great Lakes Dredge & Dock Corporation had a negative return on equity of 0.23% and a negative net margin of 2.70%. The company had revenue of $170.59 million during the quarter, compared to analyst estimates of $170.10 million. During the same period in the prior year, the firm earned ($0.07) EPS. Great Lakes Dredge & Dock Corporation’s quarterly revenue was up 4.6% on a year-over-year basis. On average, equities research analysts predict that Great Lakes Dredge & Dock Corporation will post $0.05 earnings per share for the current fiscal year.
About Great Lakes Dredge & Dock Corporation
Great Lakes Dredge & Dock Corporation is a provider of dredging services. The Company provides dredging services in the East, West and Gulf Coasts of the United States and around the world. It operates in two segments: Dredging Operations, which involves enhancement or preservation of navigability of waterways or the protection of shorelines through the removal or replenishment of soil, sand or rock, and Environmental & Remediation Operations, which provides construction services on soil, water and sediment for clients in both the public and private sectors.
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