Noble Financial Comments on Great Lakes Dredge & Dock Co.’s FY2024 Earnings (NASDAQ:GLDD)

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) – Noble Financial boosted their FY2024 earnings per share estimates for Great Lakes Dredge & Dock in a note issued to investors on Thursday, August 8th. Noble Financial analyst J. Gomes now expects that the construction company will earn $0.81 per share for the year, up from their previous estimate of $0.75. The consensus estimate for Great Lakes Dredge & Dock’s current full-year earnings is $0.72 per share. Noble Financial also issued estimates for Great Lakes Dredge & Dock’s FY2025 earnings at $0.90 EPS.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its earnings results on Tuesday, August 6th. The construction company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.03 by $0.08. Great Lakes Dredge & Dock had a return on equity of 8.83% and a net margin of 6.05%. The company had revenue of $170.09 million for the quarter, compared to the consensus estimate of $165.00 million. During the same quarter in the prior year, the business earned $0.03 earnings per share.

Separately, StockNews.com upgraded Great Lakes Dredge & Dock from a “hold” rating to a “buy” rating in a research note on Wednesday.

Great Lakes Dredge & Dock Price Performance

Great Lakes Dredge & Dock stock opened at $8.73 on Friday. Great Lakes Dredge & Dock has a 12 month low of $6.11 and a 12 month high of $9.93. The stock’s 50 day moving average is $8.90 and its 200-day moving average is $8.57. The company has a current ratio of 1.25, a quick ratio of 1.06 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $584.99 million, a price-to-earnings ratio of 15.32, a PEG ratio of 0.36 and a beta of 1.14.

Institutional Investors Weigh In On Great Lakes Dredge & Dock

Institutional investors have recently made changes to their positions in the stock. Innealta Capital LLC bought a new stake in shares of Great Lakes Dredge & Dock in the second quarter valued at approximately $30,000. CWM LLC lifted its stake in 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 purchasing an additional 4,237 shares during the last quarter. ARS Investment Partners LLC lifted its stake in Great Lakes Dredge & Dock by 11.0% during the second quarter. ARS Investment Partners LLC now owns 12,150 shares of the construction company’s stock worth $107,000 after purchasing an additional 1,200 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Great Lakes Dredge & Dock during the fourth quarter worth $113,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Great Lakes Dredge & Dock by 23.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,955 shares of the construction company’s stock worth $123,000 after purchasing an additional 3,011 shares during the last quarter. 89.11% of the stock is currently owned by institutional investors.

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.