The stock of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) increased by $0.4 on Friday to finish at $8.79, up 4.77 percent. The last five days have seen an average of 381,600 shares of common stock traded. 29 times new highs were reached in the current year, with a gain of $2.84. The average number of shares traded over the last 20 days was 543,620, while the average volume over the last 50 days totaled 484,344.
GLDD stock appreciated 7.06% since last month. On 07/24/23, the company’s shares reached a one-month low of $7.65. The stock touched a high of $10.65 on 08/02/23, after rallying from a low of $4.74 in 52 weeks. The price of GLDD stock has risen by 47.73% or $2.84 this year, reaching a new high 29 times. Still, the stock price is down -17.46% from the 52-week high.
Insider Transactions
GLDD stock investors should be aware that Great Lakes Dredge & Dock Corporation (GLDD) stock had its last reported insider trading activity 87 days ago on May 19. On May 19, Director Levenson Ryan acquired 121,721 shares at $6.82 each. This transaction resulted in the insider spending $830,490. On May 18, Levenson Ryan added 6,860 shares at a price of US$6.75. After the transaction, the insider now owns 212,167 shares. Director Levenson Ryan had earlier bought 5,207 shares on May 17 for $6.64 a share. The transaction was completed for $34,552.
Valuation Metrics
Beta for the stock is 1.03. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 0.94, the price-to-book (PB) ratio of 1.59.
Financial Health
For the recent quarter, Great Lakes Dredge & Dock Corporation’s quick ratio was 1.10, while its current ratio was 1.30, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the recent quarter is 1.02, and the total debt to equity ratio is 1.02. As far as profitability goes, gross margin for the trailing twelve months is 3.00% percent. Great Lakes Dredge & Dock Corporation’s EBITDA margin for the recent year was 6.25%, whereas its operating margin stood at -7.30% for the same period. Based on annual data, it had gross profit of $31.17 million and revenue of $648.78 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 -4.20%. There was a -2.70% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -11.40%.
Earnings Surprise
A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $132.67 million, while revenues fell by -12.63% to $158.04 million. EBITDA was $14.86 million for the quarter. At the end of Great Lakes Dredge & Dock Corporation’s most recent quarter, its liabilities totaled 639.07 million, while its total debt was $457.5 million. Equity owned by shareholders amounts to $66.49 million.
Technical Picture
Here’s a quick look at Great Lakes Dredge & Dock Corporation’s (GLDD) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 59.59%, suggesting the stock is Neutral, with a 74.49% historical volatility rate.
The stochastic %K and %D were 43.99% and 43.10% respectively, while the average true range (ATR) was 0.37. Based on the 14-day stochastic reading of 50.28%, the RSI (14) reading is 59.50%. On the 9-day MACD Oscillator, the stock is at -0.16, and the 14-day reading is at 0.03.
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 $11.00 and $14.00, with a median target price of $12.00. In analyzing these forecasts, the average price target given by analysts for Great Lakes Dredge & Dock Corporation (GLDD) is $12.33.
