Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) have earned a consensus recommendation of “Hold” from the six analysts that are covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $17.00.

A number of analysts recently issued reports on GLDD shares. JPMorgan Chase & Co. restated a “neutral” rating and issued a $17.00 price target on shares of Great Lakes Dredge & Dock in a research report on Wednesday, March 4th. CJS Securities reiterated a “market perform” rating on shares of Great Lakes Dredge & Dock in a research report on Wednesday, March 11th. Noble Financial downgraded shares of Great Lakes Dredge & Dock from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 12th. Texas Capital lowered shares of Great Lakes Dredge & Dock from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 11th. Finally, Weiss Ratings raised shares of Great Lakes Dredge & Dock from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, January 21st.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Financial Management Professionals Inc. bought a new position in shares of Great Lakes Dredge & Dock during the fourth quarter valued at approximately $25,000. Farther Finance Advisors LLC lifted its stake in shares of Great Lakes Dredge & Dock by 231.4% during the 4th quarter. Farther Finance Advisors LLC now owns 2,111 shares of the construction company’s stock worth $28,000 after acquiring an additional 1,474 shares during the last quarter. MAI Capital Management lifted its stake in shares of Great Lakes Dredge & Dock by 79.2% during the 3rd quarter. MAI Capital Management now owns 2,161 shares of the construction company’s stock worth $26,000 after acquiring an additional 955 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in Great Lakes Dredge & Dock during the 3rd quarter valued at $46,000. Finally, Federated Hermes Inc. boosted its holdings in Great Lakes Dredge & Dock by 43.5% during the 2nd quarter. Federated Hermes Inc. now owns 4,965 shares of the construction company’s stock valued at $61,000 after acquiring an additional 1,505 shares during the period. Hedge funds and other institutional investors own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Trading Up 0.1%

Shares of NASDAQ GLDD opened at $16.95 on Friday. Great Lakes Dredge & Dock has a 1-year low of $7.51 and a 1-year high of $16.99. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.01 and a quick ratio of 0.88. The business’s 50 day moving average is $16.02 and its two-hundred day moving average is $13.60. The stock has a market capitalization of $1.13 billion, a P/E ratio of 15.84, a PEG ratio of 1.25 and a beta of 1.38.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its quarterly earnings data on Monday, February 23rd. The construction company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.10. The business had revenue of $256.45 million during the quarter, compared to analyst estimates of $216.30 million. Great Lakes Dredge & Dock had a return on equity of 16.46% and a net margin of 8.27%. As a group, research analysts expect that Great Lakes Dredge & Dock will post 0.69 EPS for the current year.

Great Lakes Dredge & Dock Company Profile

Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) is a leading provider of dredging and maritime construction services in the United States. The company specializes in the excavation and removal of sediment from waterways, harbors, ports and coastal areas to maintain navigability and support commercial shipping. Its operations encompass both maintenance dredging—removing accumulated material to restore channel depth—and new work projects such as land reclamation and harbor deepening.

In addition to traditional dredging, Great Lakes Dredge & Dock offers a range of complementary marine construction services.