Great Lakes Dredge & Dock (NASDAQ:GLDD) Lowered to “Hold” at BidaskClub

Share on StockTwits

BidaskClub cut shares of Great Lakes Dredge & Dock (NASDAQ:GLDD) from a buy rating to a hold rating in a research report released on Thursday morning, BidAskClub reports.

Other analysts have also issued reports about the company. ValuEngine lowered Great Lakes Dredge & Dock from a buy rating to a hold rating in a research report on Tuesday, September 10th. Zacks Investment Research raised Great Lakes Dredge & Dock from a hold rating to a strong-buy rating and set a $12.00 target price for the company in a research report on Friday, August 2nd. Finally, Noble Financial set a $14.00 target price on Great Lakes Dredge & Dock and gave the company a buy rating in a research report on Wednesday, August 21st.

GLDD stock opened at $10.18 on Thursday. The stock has a 50-day moving average price of $10.52 and a 200-day moving average price of $10.18. Great Lakes Dredge & Dock has a 1-year low of $5.37 and a 1-year high of $11.81. The company has a current ratio of 1.31, a quick ratio of 1.18 and a debt-to-equity ratio of 1.50. The firm has a market cap of $637.63 million, a PE ratio of 12.18 and a beta of 0.60.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its quarterly earnings data on Wednesday, July 31st. The construction company reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.06. Great Lakes Dredge & Dock had a return on equity of 22.64% and a net margin of 3.90%. The firm had revenue of $184.81 million during the quarter, compared to analyst estimates of $181.65 million. During the same period last year, the company posted $0.02 EPS. The business’s quarterly revenue was up 36.6% on a year-over-year basis. On average, analysts forecast that Great Lakes Dredge & Dock will post 0.74 earnings per share for the current year.

In other Great Lakes Dredge & Dock news, insider David E. Simonelli sold 3,809 shares of Great Lakes Dredge & Dock stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $10.90, for a total transaction of $41,518.10. Following the completion of the transaction, the insider now owns 322,048 shares in the company, valued at approximately $3,510,323.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ryan Levenson sold 21,905 shares of Great Lakes Dredge & Dock stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $10.14, for a total value of $222,116.70. Following the transaction, the director now owns 35,816 shares of the company’s stock, valued at approximately $363,174.24. The disclosure for this sale can be found here. Insiders sold a total of 26,878 shares of company stock valued at $276,171 over the last ninety days. 4.66% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA lifted its stake in Great Lakes Dredge & Dock by 415.7% in the first quarter. BNP Paribas Arbitrage SA now owns 11,882 shares of the construction company’s stock valued at $106,000 after purchasing an additional 9,578 shares during the last quarter. SG Americas Securities LLC bought a new stake in Great Lakes Dredge & Dock during the 1st quarter valued at $126,000. New York State Teachers Retirement System bought a new stake in Great Lakes Dredge & Dock during the 1st quarter valued at $45,000. Falcon Point Capital LLC raised its holdings in Great Lakes Dredge & Dock by 2.2% during the 1st quarter. Falcon Point Capital LLC now owns 95,576 shares of the construction company’s stock valued at $852,000 after acquiring an additional 2,055 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Great Lakes Dredge & Dock during the 1st quarter valued at $418,000. Institutional investors and hedge funds own 85.74% of the company’s stock.

Great Lakes Dredge & Dock Company Profile

Great Lakes Dredge & Dock Corporation provides dredging services in the United States and internationally. The company is involved 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.

Read More: What is insider trading?

Receive News & Ratings for Great Lakes Dredge & Dock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Great Lakes Dredge & Dock and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

National Bank Financial Equities Analysts Cut Earnings Estimates for Sleep Country Canada Holdings Inc
National Bank Financial Equities Analysts Cut Earnings Estimates for Sleep Country Canada Holdings Inc
Watsco Inc  to Post FY2019 Earnings of $6.40 Per Share, Jefferies Financial Group Forecasts
Watsco Inc to Post FY2019 Earnings of $6.40 Per Share, Jefferies Financial Group Forecasts
Research Analysts Offer Predictions for Union Pacific Co.’s FY2019 Earnings
Research Analysts Offer Predictions for Union Pacific Co.’s FY2019 Earnings
Q3 2019 Earnings Estimate for Aquestive Therapeutics Inc Issued By Wedbush
Q3 2019 Earnings Estimate for Aquestive Therapeutics Inc Issued By Wedbush
Homology Medicines  Upgraded to Buy at ValuEngine
Homology Medicines Upgraded to Buy at ValuEngine
Rand Capital  Cut to “Sell” at ValuEngine
Rand Capital Cut to “Sell” at ValuEngine


 
© 2006-2019 Zolmax.