Great Lakes Dredge & Dock’s (GLDD) “Market Perform” Rating Reaffirmed at CJS Securities

CJS Securities restated their market perform rating on shares of Great Lakes Dredge & Dock (NASDAQ:GLDD) in a report released on Wednesday,Benzinga reports.

Several other equities research analysts have also issued reports on the stock. Weiss Ratings raised shares of Great Lakes Dredge & Dock from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, January 21st. JPMorgan Chase & Co. reiterated 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. Zacks Research upgraded shares of Great Lakes Dredge & Dock from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Texas Capital cut shares of Great Lakes Dredge & Dock from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Finally, Noble Financial downgraded shares of Great Lakes Dredge & Dock from an “outperform” rating to a “market perform” rating in a report on Thursday, February 12th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $17.00.

Great Lakes Dredge & Dock Price Performance

NASDAQ GLDD opened at $16.95 on Wednesday. The company has a market capitalization of $1.13 billion, a PE ratio of 15.84, a price-to-earnings-growth ratio of 1.25 and a beta of 1.38. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.88 and a current ratio of 1.01. The business’s fifty day moving average is $15.58 and its 200 day moving average is $13.40. Great Lakes Dredge & Dock has a fifty-two week low of $7.51 and a fifty-two week high of $16.99.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its quarterly earnings results on Monday, February 23rd. The construction company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.10. Great Lakes Dredge & Dock had a return on equity of 16.46% and a net margin of 8.27%.The business had revenue of $256.45 million during the quarter, compared to analysts’ expectations of $216.30 million. Sell-side analysts predict that Great Lakes Dredge & Dock will post 0.69 earnings per share for the current year.

Hedge Funds Weigh In On Great Lakes Dredge & Dock

Several hedge funds have recently modified their holdings of GLDD. Financial Management Professionals Inc. purchased a new position in Great Lakes Dredge & Dock during the fourth quarter valued at $25,000. MAI Capital Management boosted its holdings 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 valued at $26,000 after purchasing an additional 955 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings 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 valued at $28,000 after purchasing an additional 1,474 shares during the last quarter. Strs Ohio purchased a new position in shares of Great Lakes Dredge & Dock during the first quarter valued at about $45,000. Finally, State of Alaska Department of Revenue bought a new stake in shares of Great Lakes Dredge & Dock in the third quarter worth about $46,000. Hedge funds and other institutional investors own 89.11% of the company’s stock.

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.