Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Expected to Post FY2024 Earnings of $0.75 Per Share

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) - Equities research analysts at Noble Financial raised their FY2024 EPS estimates for Great Lakes Dredge & Dock in a research note issued on Thursday, May 9th. Noble Financial analyst J. Gomes now anticipates that the construction company will post earnings of $0.75 per share for the year, up from their previous forecast of $0.45. The consensus estimate for Great Lakes Dredge & Dock's current full-year earnings is $0.73 per share. Noble Financial also issued estimates for Great Lakes Dredge & Dock's FY2025 earnings at $0.86 EPS.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last released its earnings results on Wednesday, February 14th. The construction company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.09 by $0.16. Great Lakes Dredge & Dock had a net margin of 6.05% and a return on equity of 8.83%. The firm had revenue of $181.73 million for the quarter, compared to the consensus estimate of $190.05 million.

GLDD has been the topic of several other research reports. StockNews.com upgraded shares of Great Lakes Dredge & Dock from a "hold" rating to a "buy" rating in a research report on Thursday. TheStreet upgraded shares of Great Lakes Dredge & Dock from a "d+" rating to a "c-" rating in a research report on Tuesday, February 20th.

Great Lakes Dredge & Dock Price Performance

Shares of GLDD stock traded up $0.28 during mid-day trading on Monday, hitting $9.35. The company had a trading volume of 483,277 shares, compared to its average volume of 387,277. Great Lakes Dredge & Dock has a 52-week low of $6.11 and a 52-week high of $9.78. The stock's 50 day moving average price is $8.17 and its 200-day moving average price is $7.76. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.25 and a quick ratio of 1.06. The company has a market capitalization of $626.54 million, a P/E ratio of 15.91, a P/E/G ratio of 1.25 and a beta of 1.00.

Institutional Investors Weigh In On Great Lakes Dredge & Dock

Several large investors have recently bought and sold shares of the business. Group One Trading L.P. bought a new position in Great Lakes Dredge & Dock during the third quarter valued at $30,000. Mackenzie Financial Corp purchased a new stake in shares of Great Lakes Dredge & Dock during the third quarter valued at about $83,000. AXQ Capital LP purchased a new stake in shares of Great Lakes Dredge & Dock during the third quarter valued at about $92,000. Quadrature Capital Ltd purchased a new stake in shares of Great Lakes Dredge & Dock during the fourth quarter valued at about $113,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Great Lakes Dredge & Dock by 23.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,955 shares of the construction company's stock valued at $123,000 after buying an additional 3,011 shares during the last quarter. Institutional investors own 89.11% 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.