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

Great Lakes Dredge & Dock (NASDAQ:GLDD) posted its earnings results on Tuesday. The construction company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.05), Zacks reports. 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 for the quarter, compared to analyst estimates of $180.80 million. During the same quarter in the prior year, the business posted ($0.09) EPS.

Great Lakes Dredge & Dock Price Performance

Shares of Great Lakes Dredge & Dock stock traded up $0.07 during midday trading on Thursday, hitting $12.53. 134,003 shares of the company traded hands, compared to its average volume of 426,750. The stock has a market cap of $841.89 million, a price-to-earnings ratio of 19.17, a PEG 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. The firm’s fifty day moving average price is $10.86 and its 200-day moving average price is $9.52. Great Lakes Dredge & Dock has a 12 month low of $6.11 and a 12 month high of $12.59.

Insider Activity at Great Lakes Dredge & Dock

In other Great Lakes Dredge & Dock news, CEO Lasse Petterson sold 46,510 shares of the business’s 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 directly owns 931,101 shares of the company’s stock, valued at $8,454,397.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last three months, insiders have sold 128,990 shares of company stock valued at $1,174,747. 2.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on GLDD shares. Noble Financial lifted their price objective 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 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.