FY2024 Earnings Estimate for Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Issued By Sidoti Csr

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) – Analysts at Sidoti Csr boosted their FY2024 earnings estimates for shares of Great Lakes Dredge & Dock in a report issued on Wednesday, August 7th. Sidoti Csr analyst J. Romero now expects that the construction company will earn $0.79 per share for the year, up from their previous estimate of $0.69. The consensus estimate for Great Lakes Dredge & Dock’s current full-year earnings is $0.72 per share.

Separately, StockNews.com raised shares of Great Lakes Dredge & Dock from a “hold” rating to a “buy” rating in a research note on Wednesday.

Great Lakes Dredge & Dock Price Performance

Shares of GLDD traded down $0.18 during trading hours on Thursday, reaching $8.73. The company had a trading volume of 382,485 shares, compared to its average volume of 404,266. The firm has a 50 day simple moving average of $8.91 and a 200-day simple moving average of $8.56. The company has a current ratio of 1.25, a quick ratio of 1.06 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $584.99 million, a price-to-earnings ratio of 15.32, a PEG ratio of 0.36 and a beta of 1.14. Great Lakes Dredge & Dock has a 12-month low of $6.11 and a 12-month high of $9.93.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its earnings results on Tuesday, August 6th. The construction company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.08. The business had revenue of $170.09 million during the quarter, compared to analysts’ expectations of $165.00 million. Great Lakes Dredge & Dock had a net margin of 6.05% and a return on equity of 8.83%. During the same quarter in the prior year, the business posted $0.03 EPS.

Institutional Investors Weigh In On Great Lakes Dredge & Dock

A number of large investors have recently added to or reduced their stakes in GLDD. Innealta Capital LLC acquired a new stake in shares of Great Lakes Dredge & Dock during the 2nd quarter worth about $30,000. CWM LLC boosted 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 worth $44,000 after purchasing an additional 4,237 shares during the last quarter. ARS Investment Partners LLC boosted 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 worth $107,000 after purchasing an additional 1,200 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Great Lakes Dredge & Dock during the 4th quarter worth about $113,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Great Lakes Dredge & Dock by 23.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,955 shares of the construction company’s stock worth $123,000 after purchasing an additional 3,011 shares during the last quarter. 89.11% of the stock is owned by institutional investors and hedge funds.

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.