Analysts From Major Brokerage Firms Release Report On Great Lakes Dredge & Dock Corporation (GLDD)

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The stock of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) increased by $0.06 on Wednesday to $7.06, up 0.86 percent. The last five days have seen an average of 432,197 shares of common stock traded. 2 times new highs were reached in the current year, with a fall of -$8.61. The average number of shares traded over the last 20 days was 468,314, while the average volume over the last 50 days totaled 388,488.

GLDD stock dropped -5.66% since last month. On 11/09/22, the company’s shares reached a one-month low of $6.41. The stock touched a high of $16.27 on 01/04/22, after rallying from a low of $6.41 in 52 weeks. The price of GLDD stock has declined by -55.47% or -$8.61 this year, reaching a new high 2 times. Still, the stock price is down -56.60% from the 52-week high.


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Insider Transactions

GLDD stock investors should be aware that Great Lakes Dredge & Dock Corporation (GLDD) stock had its last reported insider trading activity 110 days ago on Aug 05. On Aug 05, CEO & President Petterson Lasse acquired 10,000 shares at $9.65 each. This transaction resulted in the insider spending $96,540. On May 09, Simonelli David E sold 17,700 shares at a price of US$14.12. After the transaction, the insider now owns 245,866 shares. SVP, Gov’t Relations & Bus Dev HANSON WILLIAM H had earlier sold 1,119 shares on Feb 28 for $14.06 a share. The transaction was completed for $15,734.

Valuation Metrics

Great Lakes Dredge & Dock Corporation (GLDD) has a trailing price-to-earnings (P/E) ratio of 21.41. Beta for the stock is 0.82. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 0.66, the price-to-book (PB) ratio of 1.17.

Financial Health

For the three months ended September 29, Great Lakes Dredge & Dock Corporation’s quick ratio was 1.40, while its current ratio was 1.60, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending September 29 is 0.81, and the total debt to equity ratio is 0.81. As far as profitability goes, gross margin for the trailing twelve months is 14.10% percent. Great Lakes Dredge & Dock Corporation’s operating margin stood at 6.40% for the same period. Based on annual data, it had gross profit of $145.27 million and revenue of $726.15 million.

Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. GLDD’s return on assets (ROA) during the last 12 months has been 2.20%. There was a 9.60% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 5.40%.

Earnings Surprise

According to Great Lakes Dredge & Dock Corporation’s quarterly financial report for the quarter that ended September 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $158.35 million, while revenues fell by -6.5% to $149.43 million. It was predicted that Great Lakes Dredge & Dock Corporation’s quarterly earnings would be -$0.15, but it ended up being $0.03. EBITDA was $1.86 million for the quarter. At the end of Great Lakes Dredge & Dock Corporation’s most recent quarter ended September 29, its liabilities totaled 606.61 million, while its total debt was $408.37 million. Equity owned by shareholders amounts to $66.17 million.

Technical Picture

Here’s a quick look at Great Lakes Dredge & Dock Corporation’s (GLDD) price momentum from a technical perspective. As of 22 November, the RSI 9-day stood at 50.51%, suggesting the stock is Neutral, with a 35.23% historical volatility rate.

The stochastic %K and %D were 51.57% and 42.48% respectively, while the average true range (ATR) was 0.30. Based on the 14-day stochastic reading of 62.61%, the RSI (14) reading is 46.13%. On the 9-day MACD Oscillator, the stock is at -0.06, and the 14-day reading is at 0.05.

Analyst Ratings

Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) was downgraded by Imperial Capital to a an In-line rating in its latest research report. The stock was previously rated as a an Outperform. Analysts have assigned Great Lakes Dredge & Dock Corporation (GLDD) an Buy rating. GLDD is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 3 others recommend it as a buy.

What is GLDD’s price target for the next 12 months?

The current consensus forecast for the stock is between $12.00 and $17.00, with a median target price of $14.00. In analyzing these forecasts, the average price target given by analysts for Great Lakes Dredge & Dock Corporation (GLDD) is $14.33.

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