Great Lakes Dredge & Dock Corp. (GLDD) Sees Strong Trading Volume
Shares of Great Lakes Dredge & Dock Corp. (NASDAQ:GLDD) saw unusually-strong trading volume on Friday . Approximately 1,080,610 shares were traded during mid-day trading, an increase of 446% from the previous session’s volume of 198,026 shares.The stock last traded at $3.57 and had previously closed at $3.69.
Several equities research analysts recently commented on GLDD shares. DA Davidson reduced their price objective on Great Lakes Dredge & Dock Corp. from $5.00 to $4.00 and set a “neutral” rating for the company in a report on Friday. Zacks Investment Research upgraded Great Lakes Dredge & Dock Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, April 26th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $5.00.
The stock has a 50-day moving average of $4.49 and a 200 day moving average of $4.17. The stock’s market cap is $226.25 million.
Great Lakes Dredge & Dock Corp. (NASDAQ:GLDD) last issued its earnings results on Thursday, August 4th. The company reported ($0.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by $0.04. The business earned $192.19 million during the quarter, compared to analyst estimates of $222.13 million. During the same period last year, the company earned $0.05 EPS. The company’s revenue for the quarter was down 19.5% on a year-over-year basis. Equities analysts anticipate that Great Lakes Dredge & Dock Corp. will post $0.02 EPS for the current fiscal year.
Great Lakes Dredge & Dock Corporation is a provider of dredging services. The Company provides dredging services in the East, West and Gulf Coasts of the United States and around the world. It operates in two segments: Dredging Operations, which involves enhancement or preservation of navigability of waterways or the protection of shorelines through the removal or replenishment of soil, sand or rock, and Environmental & Remediation Operations, which provides construction services on soil, water and sediment for clients in both the public and private sectors in the United States.
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