Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) was downgraded by research analysts at StockNews.com from a "buy" rating to a "hold" rating in a report issued on Thursday.
Great Lakes Dredge & Dock Stock Performance
GLDD stock traded up $0.15 during midday trading on Thursday, hitting $9.05. The company's stock had a trading volume of 427,367 shares, compared to its average volume of 402,933. The stock's 50-day moving average price is $8.89 and its 200 day moving average price is $8.61. The company has a quick ratio of 1.06, a current ratio of 1.25 and a debt-to-equity ratio of 0.93. Great Lakes Dredge & Dock has a 1 year low of $6.11 and a 1 year high of $9.93. The stock has a market cap of $606.43 million, a price-to-earnings ratio of 15.88, a PEG ratio of 0.36 and a beta of 1.14.
Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.08. Great Lakes Dredge & Dock had a return on equity of 8.83% and a net margin of 6.05%. The business had revenue of $170.09 million for the quarter, compared to analysts' expectations of $165.00 million. During the same quarter in the previous year, the firm earned $0.03 earnings per share. On average, equities analysts forecast that Great Lakes Dredge & Dock will post 0.72 EPS for the current year.
Institutional Trading of Great Lakes Dredge & Dock
Several hedge funds have recently made changes to their positions in the company. Innealta Capital LLC bought a new stake in shares of Great Lakes Dredge & Dock during the 2nd quarter valued at $30,000. CWM LLC raised its stake 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 purchasing an additional 4,237 shares during the period. ARS Investment Partners LLC raised its stake 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 purchasing an additional 1,200 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Great Lakes Dredge & Dock during the 4th quarter valued at $113,000. Finally, Bayesian Capital Management LP bought a new stake in shares of Great Lakes Dredge & Dock during the 1st quarter valued at $137,000. 89.11% of the stock is currently owned by institutional investors.
Great Lakes Dredge & Dock Company Profile
(
Get Free Report)
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.
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