Sidoti Csr Brokers Decrease Earnings Estimates for GLDD

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) – Stock analysts at Sidoti Csr decreased their FY2024 earnings estimates for Great Lakes Dredge & Dock in a report released on Wednesday, November 6th. Sidoti Csr analyst J. Romero now forecasts that the construction company will earn $0.75 per share for the year, down from their prior 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.

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

Great Lakes Dredge & Dock Stock Performance

Shares of NASDAQ:GLDD opened at $12.46 on Thursday. Great Lakes Dredge & Dock has a 1 year low of $6.11 and a 1 year high of $12.59. The firm has a market capitalization of $837.19 million, a PE ratio of 19.17, a P/E/G ratio of 0.42 and a beta of 1.13. The business’s 50 day moving average price is $10.86 and its 200-day moving average price is $9.52. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.32 and a quick ratio of 1.13.

Great Lakes Dredge & Dock (NASDAQ:GLDD) 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). 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 analysts’ expectations of $180.80 million. During the same period in the prior year, the business posted ($0.09) earnings per share.

Insider Activity at Great Lakes Dredge & Dock

In other Great Lakes Dredge & Dock news, CEO Lasse Petterson sold 28,709 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $9.24, for a total transaction of $265,271.16. Following the completion of the transaction, the chief executive officer now owns 902,392 shares of the company’s stock, valued at $8,338,102.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last ninety days, insiders have sold 128,990 shares of company stock worth $1,174,747. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of GLDD. Essex Investment Management Co. LLC lifted its stake in Great Lakes Dredge & Dock by 0.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 347,517 shares of the construction company’s stock worth $3,659,000 after acquiring an additional 915 shares in the last quarter. ARS Investment Partners LLC lifted its position in shares of Great Lakes Dredge & Dock by 11.0% during the second 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 in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Great Lakes Dredge & Dock by 1.0% in the third quarter. Victory Capital Management Inc. now owns 123,228 shares of the construction company’s stock valued at $1,298,000 after purchasing an additional 1,228 shares during the period. Quarry LP grew its holdings in shares of Great Lakes Dredge & Dock by 68.5% in the second quarter. Quarry LP now owns 3,097 shares of the construction company’s stock valued at $27,000 after purchasing an additional 1,259 shares in the last quarter. Finally, nVerses Capital LLC increased its stake in Great Lakes Dredge & Dock by 400.0% during the 3rd quarter. nVerses Capital LLC now owns 3,500 shares of the construction company’s stock worth $37,000 after buying an additional 2,800 shares during the period. 89.11% of the stock is currently owned by hedge funds and other institutional investors.

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.