Noble Financial Has Optimistic Outlook of GLDD Q4 Earnings

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) - Noble Financial boosted their Q4 2024 earnings per share (EPS) estimates for Great Lakes Dredge & Dock in a report released on Wednesday, November 6th. Noble Financial analyst J. Gomes now anticipates that the construction company will earn $0.22 per share for the quarter, up from their previous forecast of $0.21. Noble Financial currently 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.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last announced its earnings results on Tuesday, November 5th. The construction company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.05). The company had revenue of $191.17 million for 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 last year, the business posted ($0.09) earnings per share.

Separately, StockNews.com downgraded Great Lakes Dredge & Dock from a "buy" rating to a "hold" rating in a research note on Thursday, August 15th.

Great Lakes Dredge & Dock Stock Down 0.6 %

Shares of NASDAQ:GLDD traded down $0.08 during midday trading on Thursday, reaching $12.38. 465,465 shares of the company were exchanged, compared to its average volume of 428,344. The firm has a market cap of $831.81 million, a PE ratio of 19.05, a P/E/G ratio of 0.42 and a beta of 1.13. Great Lakes Dredge & Dock has a fifty-two week low of $6.11 and a fifty-two week high of $12.59. The stock has a fifty day simple moving average of $10.92 and a two-hundred day simple moving average of $9.54. The company has a quick ratio of 1.13, a current ratio of 1.32 and a debt-to-equity ratio of 0.98.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Victory Capital Management Inc. raised its stake in shares of Great Lakes Dredge & Dock by 1.0% during the 3rd quarter. Victory Capital Management Inc. now owns 123,228 shares of the construction company's stock worth $1,298,000 after purchasing an additional 1,228 shares in the last quarter. GSA Capital Partners LLP lifted its stake in Great Lakes Dredge & Dock by 138.5% in the third quarter. GSA Capital Partners LLP now owns 154,451 shares of the construction company's stock valued at $1,626,000 after acquiring an additional 89,684 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Great Lakes Dredge & Dock in the 3rd quarter valued at about $1,079,000. nVerses Capital LLC increased its stake in shares of Great Lakes Dredge & Dock by 400.0% during the 3rd quarter. nVerses Capital LLC now owns 3,500 shares of the construction company's stock worth $37,000 after purchasing an additional 2,800 shares during the last quarter. Finally, Bfsg LLC raised its holdings in shares of Great Lakes Dredge & Dock by 1,465.4% in the 3rd quarter. Bfsg LLC now owns 185,035 shares of the construction company's stock valued at $1,948,000 after purchasing an additional 173,215 shares during the period. 89.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Lasse Petterson sold 53,771 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $9.06, for a total transaction of $487,165.26. Following the completion of the transaction, the chief executive officer now owns 987,758 shares in the company, valued at approximately $8,949,087.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 128,990 shares of company stock worth $1,174,747 over the last ninety days. Insiders own 2.10% of the company's stock.

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.