Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) Receives $17.00 Consensus PT from Brokerages

Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) has been given a consensus rating of “Hold” by the six research firms that are presently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $17.00.

Several brokerages recently weighed in on GLDD. 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. Zacks Research upgraded Great Lakes Dredge & Dock from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Weiss Ratings raised Great Lakes Dredge & Dock from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, January 21st. Texas Capital cut Great Lakes Dredge & Dock from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 11th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $17.00 target price on shares of Great Lakes Dredge & Dock in a research note on Wednesday, March 4th.

Institutional Investors Weigh In On Great Lakes Dredge & Dock

Several large investors have recently made changes to their positions in GLDD. Financial Management Professionals Inc. bought a new stake in Great Lakes Dredge & Dock in the 4th quarter worth approximately $25,000. MAI Capital Management grew its holdings in shares of Great Lakes Dredge & Dock by 79.2% in the third 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 in the last quarter. Farther Finance Advisors LLC increased its position in Great Lakes Dredge & Dock by 231.4% in the fourth quarter. Farther Finance Advisors LLC now owns 2,111 shares of the construction company’s stock worth $28,000 after purchasing an additional 1,474 shares during the last quarter. Strs Ohio bought a new stake in Great Lakes Dredge & Dock in the first quarter worth $45,000. Finally, State of Alaska Department of Revenue purchased a new stake in Great Lakes Dredge & Dock during the third quarter valued at $46,000. 89.11% of the stock is owned by institutional investors.

Great Lakes Dredge & Dock Price Performance

NASDAQ GLDD opened at $16.94 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.88 and a debt-to-equity ratio of 0.73. Great Lakes Dredge & Dock has a 12 month low of $7.51 and a 12 month high of $16.99. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 15.83, a PEG ratio of 1.25 and a beta of 1.38. The company’s 50 day moving average is $16.09 and its two-hundred day moving average is $13.66.

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

About Great Lakes Dredge & Dock

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.