Great Lakes Dredge & Dock’s (GLDD) “Market Perform” Rating Reiterated at CJS Securities

CJS Securities restated their market perform rating on shares of Great Lakes Dredge & Dock (NASDAQ:GLDD) in a report published on Wednesday morning,Benzinga reports.

A number of other analysts have also recently weighed in on the company. Wall Street Zen cut Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research report on Saturday, January 24th. Weiss Ratings raised Great Lakes Dredge & Dock from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, January 21st. Noble Financial downgraded shares of Great Lakes Dredge & Dock from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 12th. Texas Capital lowered shares of Great Lakes Dredge & Dock from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 11th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $17.00 target price on shares of Great Lakes Dredge & Dock in a research report on Wednesday, March 4th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Great Lakes Dredge & Dock presently has a consensus rating of “Hold” and an average price target of $17.00.

Great Lakes Dredge & Dock Stock Down 0.2%

NASDAQ GLDD opened at $16.92 on Wednesday. Great Lakes Dredge & Dock has a 1-year low of $7.51 and a 1-year high of $16.99. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 15.81, a PEG ratio of 1.26 and a beta of 1.38. The stock’s 50 day moving average is $15.73 and its two-hundred day moving average is $13.46. 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 (NASDAQ:GLDD) last issued its earnings results on Monday, February 23rd. The construction company reported $0.30 earnings per share (EPS) 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 analysts’ expectations of $216.30 million. Great Lakes Dredge & Dock had a return on equity of 16.46% and a net margin of 8.27%. Equities analysts forecast that Great Lakes Dredge & Dock will post 0.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Great Lakes Dredge & Dock

A number of institutional investors and hedge funds have recently bought and sold shares of GLDD. Financial Management Professionals Inc. bought a new stake in shares of Great Lakes Dredge & Dock during the fourth quarter worth $25,000. MAI Capital Management lifted its position in Great Lakes Dredge & Dock by 79.2% during the 3rd quarter. MAI Capital Management now owns 2,161 shares of the construction company’s stock worth $26,000 after buying an additional 955 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Great Lakes Dredge & Dock by 231.4% during the 4th quarter. Farther Finance Advisors LLC now owns 2,111 shares of the construction company’s stock worth $28,000 after acquiring an additional 1,474 shares during the last quarter. Strs Ohio bought a new position in shares of Great Lakes Dredge & Dock in the first quarter worth about $45,000. Finally, State of Alaska Department of Revenue bought a new position in shares of Great Lakes Dredge & Dock in the third quarter worth about $46,000. Institutional investors and hedge funds own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Company Profile

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.