Great Lakes Dredge & Dock - GLDD Stock Forecast, Price & News

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. It is also involved in coastal protection projects that comprises of moving sand from the ocean floor to shoreline locations where erosion threatens shoreline assets; maintenance dredging, which consists of the re-dredging of previously deepened waterways and harbors to remove silt, sand, and other accumulated sediments; land reclamations, channel deepening, and port infrastructure development; and lake and river dredging, inland levee and construction dredging, environmental restoration and habitat improvement, and other marine construction projects. The company serves federal, state, and local governments; foreign governments; and domestic and foreign private concerns, such as utilities, oil, and other energy companies. It operates a fleet of 18 dredges, 17 material transportation barges, 1 drillboat, and various other support vessels. The company was formerly known as Lydon & Drews Partnership and changed its name to Great Lakes Dredge & Dock Corporation in 1905. Great Lakes Dredge & Dock Corporation was founded in 1890 and is headquartered in Houston, Texas.

Analyst Ratings Changes

GLDD has been the subject of a number of analyst reports. TheStreet cut Great Lakes Dredge & Dock from a "b-" rating to a "c" rating in a report on Wednesday, August 3rd. StockNews.com cut Great Lakes Dredge & Dock from a "buy" rating to a "hold" rating in a report on Wednesday, August 3rd.

Great Lakes Dredge & Dock Price Performance

Shares of NASDAQ:GLDD traded up $0.28 during midday trading on Friday, reaching $10.43. 425,747 shares of the company traded hands, compared to its average volume of 247,003. The firm has a market cap of $689.06 million, a PE ratio of 15.12 and a beta of 0.70. The stock's 50-day simple moving average is $12.51 and its 200-day simple moving average is $13.65. Great Lakes Dredge & Dock has a 12 month low of $9.39 and a 12 month high of $16.27. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.78 and a current ratio of 2.00.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Rating) last issued its quarterly earnings data on Tuesday, August 2nd. The construction company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.17 by ($0.23). Great Lakes Dredge & Dock had a net margin of 6.30% and a return on equity of 11.38%. During the same period in the prior year, the firm earned $0.03 EPS. As a group, equities analysts anticipate that Great Lakes Dredge & Dock will post 0.34 earnings per share for the current fiscal year.

Insider Activity

In other Great Lakes Dredge & Dock news, CEO Lasse Petterson bought 10,000 shares of the stock in a transaction dated Friday, August 5th. The stock was bought at an average cost of $9.65 per share, for a total transaction of $96,500.00. Following the completion of the purchase, the chief executive officer now owns 1,003,630 shares in the company, valued at approximately $9,685,029.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.22% of the stock is currently owned by corporate insiders.