Great Lakes Dredge & Dock Corp. (GLDD) Shares Up 2.8%
Shares of Great Lakes Dredge & Dock Corp. (NASDAQ:GLDD) shot up 2.8% during mid-day trading on Tuesday . The stock traded as high as $4.06 and last traded at $3.97, with a volume of 150,566 shares changing hands. The stock had previously closed at $3.86.
Several brokerages have issued reports on GLDD. Zacks Investment Research downgraded shares of Great Lakes Dredge & Dock Corp. from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Imperial Capital downgraded shares of Great Lakes Dredge & Dock Corp. from an “outperform” rating to an “in-line” rating and cut their target price for the company from $5.50 to $4.00 in a research note on Monday. Finally, DA Davidson cut their target price on shares of Great Lakes Dredge & Dock Corp. from $5.00 to $4.00 and set a “neutral” rating on the stock in a research note on Friday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $4.50.
The company’s market cap is $232.52 million. The firm has a 50-day moving average price of $4.46 and a 200-day moving average price of $4.19.
Great Lakes Dredge & Dock Corp. (NASDAQ:GLDD) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by $0.04. During the same quarter in the prior year, the business earned $0.05 earnings per share. The firm had revenue of $192.19 million for the quarter, compared to analyst estimates of $222.13 million. Great Lakes Dredge & Dock Corp.’s revenue was down 19.5% compared to the same quarter last year. On average, analysts predict 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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