Sidoti Csr Has Pessimistic Outlook of GLDD FY2024 Earnings

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) - Investment analysts at Sidoti Csr reduced their FY2024 EPS estimates for shares of Great Lakes Dredge & Dock in a note issued to investors on Wednesday, November 6th. Sidoti Csr analyst J. Romero now expects that the construction company will post earnings of $0.75 per share for the year, down from their previous estimate of $0.79. The consensus estimate for Great Lakes Dredge & Dock's current full-year earnings is $0.80 per share. Sidoti Csr also issued estimates for Great Lakes Dredge & Dock's Q1 2025 earnings at $0.13 EPS, Q2 2025 earnings at $0.19 EPS, Q3 2025 earnings at $0.24 EPS, FY2025 earnings at $0.83 EPS, Q1 2026 earnings at $0.16 EPS, Q2 2026 earnings at $0.22 EPS, Q3 2026 earnings at $0.27 EPS and FY2026 earnings at $0.95 EPS.

Other research analysts also recently issued reports about the stock. StockNews.com downgraded shares of Great Lakes Dredge & Dock from a "buy" rating to a "hold" rating in a research report on Thursday, August 15th. Noble Financial boosted their price target on shares of Great Lakes Dredge & Dock from $11.00 to $14.00 and gave the company an "outperform" rating in a report on Monday, September 23rd.

Great Lakes Dredge & Dock Stock Down 0.6 %

NASDAQ:GLDD traded down $0.08 on Thursday, hitting $12.38. 465,465 shares of the company's stock traded hands, compared to its average volume of 428,344. The company has a market cap of $831.81 million, a PE ratio of 19.05, a price-to-earnings-growth ratio of 0.42 and a beta of 1.13. Great Lakes Dredge & Dock has a 1 year low of $6.11 and a 1 year high of $12.59. The company has a current ratio of 1.32, a quick ratio of 1.13 and a debt-to-equity ratio of 0.98. The firm has a 50-day moving average price of $10.92 and a 200-day moving average price of $9.54.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The construction company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates 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 prior year, the firm posted ($0.09) EPS.

Insider Activity at Great Lakes Dredge & Dock

In other news, CEO Lasse Petterson sold 46,510 shares of the firm's stock in a transaction 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 transaction, the chief executive officer now owns 931,101 shares in the company, valued at approximately $8,454,397.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders sold 128,990 shares of company stock valued at $1,174,747. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of Great Lakes Dredge & Dock

Large investors have recently modified their holdings of the company. Quarry LP grew its holdings in Great Lakes Dredge & Dock by 68.5% in the 2nd quarter. Quarry LP now owns 3,097 shares of the construction company's stock valued at $27,000 after buying an additional 1,259 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Great Lakes Dredge & Dock in the second quarter worth $30,000. nVerses Capital LLC increased its position in Great Lakes Dredge & Dock by 400.0% during the third quarter. nVerses Capital LLC now owns 3,500 shares of the construction company's stock worth $37,000 after acquiring an additional 2,800 shares during the period. CWM LLC raised its stake in 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 last quarter. Finally, ARS Investment Partners LLC boosted its holdings in Great Lakes Dredge & Dock by 11.0% in 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. 89.11% of the stock is owned by institutional investors.

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.