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

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

Great Lakes Dredge & Dock Trading Up 7.2 %

GLDD traded up $0.84 during trading on Wednesday, hitting $12.45. 472,616 shares of the stock traded hands, compared to its average volume of 425,743. The firm has a 50-day moving average of $10.81 and a 200 day moving average of $9.50. Great Lakes Dredge & Dock has a 12-month low of $6.11 and a 12-month high of $12.50. The firm has a market capitalization of $836.52 million, a P/E ratio of 19.03, a price-to-earnings-growth ratio of 0.42 and a beta of 1.13. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.32 and a quick ratio of 1.13.

Analyst Ratings Changes

Several research firms have commented on GLDD. Noble Financial lifted 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. StockNews.com downgraded Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a report on Thursday, August 15th.

Insider Activity

In related news, CEO Lasse Petterson sold 46,510 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $9.08, for a total transaction of $422,310.80. Following the transaction, the chief executive officer now owns 931,101 shares in the company, valued at $8,454,397.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders sold 128,990 shares of company stock valued at $1,174,747. Insiders own 2.10% of the company’s stock.

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.