FY2024 Earnings Forecast for GLDD Issued By Noble Financial

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) - Analysts at Noble Financial dropped their FY2024 earnings per share estimates for shares of Great Lakes Dredge & Dock in a research note issued to investors on Wednesday, November 6th. Noble Financial analyst J. Gomes now anticipates that the construction company will earn $0.78 per share for the year, down from their prior estimate of $0.81. Noble Financial currently has a "Outperform" rating and a $14.00 target price on the stock. The consensus estimate for Great Lakes Dredge & Dock's current full-year earnings is $0.80 per share.

Separately, StockNews.com downgraded 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 Stock Up 2.5 %

Great Lakes Dredge & Dock stock traded up $0.31 during mid-day trading on Friday, reaching $12.69. The stock had a trading volume of 443,827 shares, compared to its average volume of 428,415. The company has a market capitalization of $853.68 million, a price-to-earnings ratio of 14.49, a PEG ratio of 0.41 and a beta of 1.13. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.32 and a quick ratio of 1.13. Great Lakes Dredge & Dock has a one year low of $6.12 and a one year high of $12.80. The company has a 50-day moving average price of $10.92 and a two-hundred day moving average price of $9.54.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last released its 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 business had revenue of $191.17 million for the quarter, compared to analysts' expectations of $180.80 million. Great Lakes Dredge & Dock had a net margin of 6.61% and a return on equity of 10.05%. During the same quarter in the previous year, the business posted ($0.09) earnings per share.

Institutional Investors Weigh In On Great Lakes Dredge & Dock

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jennison Associates LLC lifted its stake in Great Lakes Dredge & Dock by 1.9% in the third quarter. Jennison Associates LLC now owns 4,333,438 shares of the construction company's stock worth $45,631,000 after acquiring an additional 79,087 shares during the period. Vanguard Group Inc. increased its holdings in Great Lakes Dredge & Dock by 1.4% during 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 during the period. TCW Group Inc. raised its stake 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 worth $17,526,000 after buying an additional 38,200 shares in the last quarter. Minerva Advisors LLC lifted its holdings in Great Lakes Dredge & Dock by 1.5% during the third quarter. Minerva Advisors LLC now owns 1,341,807 shares of the construction company's stock worth $14,116,000 after buying an additional 19,470 shares during the period. Finally, Private Management Group Inc. boosted its position in Great Lakes Dredge & Dock by 2.9% during the 2nd quarter. Private Management Group Inc. now owns 1,253,165 shares of the construction company's stock valued at $11,003,000 after acquiring an additional 35,077 shares in the last quarter. Institutional investors own 89.11% of the company's stock.

Insider Activity at Great Lakes Dredge & Dock

In other Great Lakes Dredge & Dock news, CEO Lasse Petterson sold 53,771 shares of the company's stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $9.06, for a total value of $487,165.26. Following the completion of the transaction, the chief executive officer now directly owns 987,758 shares in the company, valued at $8,949,087.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 128,990 shares of company stock worth $1,174,747. 2.20% of the stock is owned by company insiders.

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.