Great Lakes Dredge & Dock (NASDAQ:GLDD) Releases Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Great Lakes Dredge & Dock (NASDAQ:GLDD) announced its quarterly earnings results on Tuesday. The construction company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.05), Zacks reports. Great Lakes Dredge & Dock had a return on equity of 10.05% and a net margin of 6.61%. The company had revenue of $191.17 million during the quarter, compared to analysts’ expectations of $180.80 million. During the same quarter in the previous year, the firm earned ($0.09) EPS.

Great Lakes Dredge & Dock Trading Up 7.4 %

GLDD traded up $0.86 during trading on Wednesday, reaching $12.47. The company had a trading volume of 526,990 shares, compared to its average volume of 425,913. The company has a quick ratio of 1.13, a current ratio of 1.32 and a debt-to-equity ratio of 0.98. The business has a 50 day simple moving average of $10.81 and a 200-day simple moving average of $9.50. The stock has a market cap of $837.86 million, a P/E ratio of 19.03, a PEG ratio of 0.42 and a beta of 1.13. Great Lakes Dredge & Dock has a 52 week low of $6.11 and a 52 week high of $12.56.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GLDD. Noble Financial upped their price objective on Great Lakes Dredge & Dock from $11.00 to $14.00 and gave the stock an “outperform” rating in a report on Monday, September 23rd. StockNews.com lowered shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th.

Insider Buying and Selling at Great Lakes Dredge & Dock

In related news, CEO Lasse Petterson sold 46,510 shares of Great Lakes Dredge & Dock stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $9.08, for a total transaction of $422,310.80. Following the completion of the transaction, the chief executive officer now directly owns 931,101 shares of the company’s stock, valued at approximately $8,454,397.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 128,990 shares of company stock worth $1,174,747 over the last quarter. Insiders own 2.10% of the company’s stock.

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.