Great Lakes Dredge & Dock (NASDAQ:GLDD) Announces Earnings Results, Beats Expectations By $0.09 EPS

Great Lakes Dredge & Dock (NASDAQ:GLDD) announced its earnings results on Tuesday. The construction company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.09, Zacks reports. Great Lakes Dredge & Dock had a net margin of 8.63% and a return on equity of 15.61%.

Great Lakes Dredge & Dock Price Performance

GLDD traded up $0.79 on Tuesday, hitting $12.17. 168,398 shares of the company were exchanged, compared to its average volume of 467,241. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.02 and a current ratio of 1.15. The business’s fifty day moving average is $11.66 and its 200 day moving average is $11.28. Great Lakes Dredge & Dock has a fifty-two week low of $7.51 and a fifty-two week high of $12.89. The firm has a market capitalization of $827.50 million, a P/E ratio of 11.65, a price-to-earnings-growth ratio of 0.94 and a beta of 1.37.

Analysts Set New Price Targets

GLDD has been the subject of a number of research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Great Lakes Dredge & Dock in a report on Wednesday, October 8th. Zacks Research cut shares of Great Lakes Dredge & Dock from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Hedge Funds Weigh In On Great Lakes Dredge & Dock

A number of large investors have recently bought and sold shares of GLDD. Royal Bank of Canada raised its stake in Great Lakes Dredge & Dock by 9.9% during the first quarter. Royal Bank of Canada now owns 35,035 shares of the construction company’s stock worth $305,000 after purchasing an additional 3,169 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in shares of Great Lakes Dredge & Dock in the 1st quarter valued at $304,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Great Lakes Dredge & Dock by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,190 shares of the construction company’s stock valued at $341,000 after acquiring an additional 1,653 shares during the period. Empowered Funds LLC acquired a new stake in Great Lakes Dredge & Dock during the 1st quarter valued at $1,726,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Great Lakes Dredge & Dock by 1.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 246,766 shares of the construction company’s stock valued at $2,147,000 after purchasing an additional 3,042 shares in the last quarter. Hedge funds and other institutional investors own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Company Profile

Great Lakes Dredge & Dock Corp. engages in the provision of dredging services. Its projects include channel and port maintenance, channel deepening and port expansion, coastal protection and restoration, as well as land reclamation. The company was founded by William A. Lydon and Frederick C. Drews in 1890 and is headquartered in Houston, TX.