Noble Financial Issues Optimistic Estimate for GLDD Earnings

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) – Analysts at Noble Financial upped their Q4 2024 earnings estimates for shares of Great Lakes Dredge & Dock in a report issued on Wednesday, November 6th. Noble Financial analyst J. Gomes now expects that the construction company will post earnings per share of $0.22 for the quarter, up from their previous forecast of $0.21. Noble Financial has a “Outperform” rating and a $14.00 price objective on the stock. The consensus estimate for Great Lakes Dredge & Dock’s current full-year earnings is $0.80 per share. Noble Financial also issued estimates for Great Lakes Dredge & Dock’s FY2025 earnings at $0.93 EPS.

Separately, StockNews.com lowered shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th.

Great Lakes Dredge & Dock Stock Performance

NASDAQ GLDD opened at $12.46 on Thursday. 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 has a market capitalization of $837.19 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’s fifty day moving average is $10.86 and its two-hundred day moving average is $9.52. Great Lakes Dredge & Dock has a 52-week low of $6.11 and a 52-week high of $12.59.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its quarterly earnings results on Tuesday, November 5th. The construction company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.05). The company had revenue of $191.17 million during the quarter, compared to analyst estimates 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 quarter in the prior year, the business earned ($0.09) earnings per share.

Institutional Trading of Great Lakes Dredge & Dock

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Great Lakes Dredge & Dock by 1.4% in the first quarter. Vanguard Group Inc. now owns 3,413,673 shares of the construction company’s stock valued at $29,870,000 after buying an additional 48,760 shares in the last quarter. TCW Group Inc. boosted its position in Great Lakes Dredge & Dock by 2.0% in the second quarter. TCW Group Inc. now owns 1,996,138 shares of the construction company’s stock valued at $17,526,000 after buying an additional 38,200 shares in the last quarter. Private Management Group Inc. boosted its position in Great Lakes Dredge & Dock by 2.9% in the second quarter. Private Management Group Inc. now owns 1,253,165 shares of the construction company’s stock valued at $11,003,000 after buying an additional 35,077 shares in the last quarter. American Century Companies Inc. boosted its position in Great Lakes Dredge & Dock by 36.4% in the second quarter. American Century Companies Inc. now owns 420,055 shares of the construction company’s stock valued at $3,688,000 after buying an additional 112,160 shares in the last quarter. Finally, Essex Investment Management Co. LLC boosted its position in Great Lakes Dredge & Dock by 0.3% in the third quarter. Essex Investment Management Co. LLC now owns 347,517 shares of the construction company’s stock valued at $3,659,000 after buying an additional 915 shares in the last quarter. 89.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Lasse Petterson sold 53,771 shares of Great Lakes Dredge & Dock stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $9.06, for a total transaction of $487,165.26. Following the sale, the chief executive officer now directly owns 987,758 shares in the company, valued at approximately $8,949,087.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have sold 128,990 shares of company stock worth $1,174,747. Corporate insiders own 2.10% of the company’s stock.

About Great Lakes Dredge & Dock

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.