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

Great Lakes Dredge & Dock (NASDAQ:GLDD) posted its earnings results on Tuesday. The construction company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.05), Zacks reports. Great Lakes Dredge & Dock had a net margin of 6.61% and a return on equity of 10.05%. The company had revenue of $191.17 million during the quarter, compared to analyst estimates of $180.80 million. During the same quarter last year, the business posted ($0.09) EPS.

Great Lakes Dredge & Dock Stock Up 2.7 %

Shares of NASDAQ:GLDD traded up $0.33 during trading on Friday, hitting $12.71. The company’s stock had a trading volume of 173,523 shares, compared to its average volume of 427,170. The business has a 50 day moving average price of $10.92 and a two-hundred day moving average price of $9.54. The company has a market capitalization of $855.03 million, a PE ratio of 14.49, a P/E/G ratio of 0.41 and a beta of 1.13. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.13 and a current ratio of 1.32. Great Lakes Dredge & Dock has a fifty-two week low of $6.12 and a fifty-two week high of $12.77.

Insiders Place Their Bets

In other Great Lakes Dredge & Dock news, CEO Lasse Petterson sold 28,709 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $9.24, for a total value of $265,271.16. Following the completion of the transaction, the chief executive officer now owns 902,392 shares in the company, valued at $8,338,102.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders sold a total of 128,990 shares of company stock worth $1,174,747 over the last 90 days. Corporate insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. StockNews.com downgraded shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a 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 stock an “outperform” rating in a research note on Monday, September 23rd.

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.