Equities Analysts Set Expectations for GLDD FY2024 Earnings

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) – Sidoti Csr reduced their FY2024 earnings per share (EPS) estimates for Great Lakes Dredge & Dock in a research note issued on Wednesday, November 6th. Sidoti Csr analyst J. Romero now forecasts that the construction company will post earnings of $0.75 per share for the year, down from their prior estimate of $0.79. The consensus estimate for Great Lakes Dredge & Dock’s current full-year earnings is $0.80 per share. Sidoti Csr also issued estimates for Great Lakes Dredge & Dock’s Q1 2025 earnings at $0.13 EPS, Q2 2025 earnings at $0.19 EPS, Q3 2025 earnings at $0.24 EPS, FY2025 earnings at $0.83 EPS, Q1 2026 earnings at $0.16 EPS, Q2 2026 earnings at $0.22 EPS, Q3 2026 earnings at $0.27 EPS and FY2026 earnings at $0.95 EPS.

A number of other research analysts also recently commented on the company. StockNews.com downgraded Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a report on Thursday, August 15th. Noble Financial upped their price target on Great Lakes Dredge & Dock from $11.00 to $14.00 and gave the company an “outperform” rating in a report on Monday, September 23rd.

Great Lakes Dredge & Dock Stock Performance

NASDAQ:GLDD opened at $12.46 on Thursday. Great Lakes Dredge & Dock has a 12 month low of $6.11 and a 12 month high of $12.59. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.32 and a quick ratio of 1.13. The firm has a market capitalization of $837.19 million, a PE ratio of 19.17, a price-to-earnings-growth ratio of 0.42 and a beta of 1.13. The business’s fifty day moving average price is $10.86 and its 200 day moving average price is $9.52.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its quarterly earnings results on Tuesday, November 5th. The construction company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.05). Great Lakes Dredge & Dock had a return on equity of 10.05% and a net margin of 6.61%. The firm had revenue of $191.17 million for the quarter, compared to analyst estimates of $180.80 million. During the same quarter last year, the firm earned ($0.09) EPS.

Hedge Funds Weigh In On Great Lakes Dredge & Dock

A number of hedge funds have recently modified their holdings of the business. Quarry LP raised its position in Great Lakes Dredge & Dock by 68.5% in the 2nd quarter. Quarry LP now owns 3,097 shares of the construction company’s stock valued at $27,000 after purchasing an additional 1,259 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of Great Lakes Dredge & Dock in the second quarter valued at about $30,000. nVerses Capital LLC boosted its stake in shares of Great Lakes Dredge & Dock by 400.0% during the third quarter. nVerses Capital LLC now owns 3,500 shares of the construction company’s stock worth $37,000 after buying an additional 2,800 shares during the period. CWM LLC grew its holdings in shares of Great Lakes Dredge & Dock by 520.5% during the second quarter. CWM LLC now owns 5,051 shares of the construction company’s stock worth $44,000 after buying an additional 4,237 shares during the last quarter. Finally, ARS Investment Partners LLC increased its position in Great Lakes Dredge & Dock by 11.0% in the 2nd quarter. ARS Investment Partners LLC now owns 12,150 shares of the construction company’s stock valued at $107,000 after acquiring an additional 1,200 shares during the period. 89.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Great Lakes Dredge & Dock

In other Great Lakes Dredge & Dock news, CEO Lasse Petterson sold 46,510 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $9.08, for a total transaction of $422,310.80. Following the transaction, the chief executive officer now owns 931,101 shares of the company’s stock, valued at approximately $8,454,397.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 128,990 shares of company stock valued at $1,174,747 over the last ninety days. Insiders own 2.10% of the company’s stock.

Great Lakes Dredge & Dock Company Profile

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.