BidaskClub Upgrades Great Lakes Dredge and Dock (GLDD) to “Hold”

BidaskClub upgraded shares of Great Lakes Dredge and Dock (NASDAQ:GLDD) from a sell rating to a hold rating in a research report report published on Wednesday morning.

Several other analysts also recently commented on GLDD. Noble Financial reaffirmed a buy rating on shares of Great Lakes Dredge and Dock in a research note on Wednesday, February 21st. Zacks Investment Research raised Great Lakes Dredge and Dock from a sell rating to a hold rating in a research note on Friday, March 9th. Finally, Cantor Fitzgerald reaffirmed a hold rating on shares of Great Lakes Dredge and Dock in a research note on Sunday, December 31st. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $7.00.

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Shares of NASDAQ GLDD opened at $4.50 on Wednesday. The stock has a market capitalization of $283.99, a P/E ratio of -16.67 and a beta of 0.80. The company has a quick ratio of 1.51, a current ratio of 1.75 and a debt-to-equity ratio of 1.93. Great Lakes Dredge and Dock has a 52-week low of $3.60 and a 52-week high of $5.70.

Great Lakes Dredge and Dock (NASDAQ:GLDD) last posted its quarterly earnings data on Tuesday, February 20th. The construction company reported ($0.12) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.06. The firm had revenue of $191.70 million during the quarter, compared to the consensus estimate of $181.90 million. Great Lakes Dredge and Dock had a negative return on equity of 6.64% and a negative net margin of 4.45%. The firm’s revenue was down 10.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.11) EPS. research analysts forecast that Great Lakes Dredge and Dock will post -0.15 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Doheny Asset Management CA raised its stake in Great Lakes Dredge and Dock by 38.7% during the 4th quarter. Doheny Asset Management CA now owns 333,500 shares of the construction company’s stock valued at $1,801,000 after acquiring an additional 93,000 shares during the last quarter. Segall Bryant & Hamill LLC raised its stake in Great Lakes Dredge and Dock by 75.6% during the 4th quarter. Segall Bryant & Hamill LLC now owns 1,965,621 shares of the construction company’s stock valued at $10,614,000 after acquiring an additional 846,044 shares during the last quarter. Crestline Management LP purchased a new stake in Great Lakes Dredge and Dock during the 4th quarter valued at approximately $775,000. Deutsche Bank AG raised its stake in Great Lakes Dredge and Dock by 143.1% during the 4th quarter. Deutsche Bank AG now owns 128,667 shares of the construction company’s stock valued at $693,000 after acquiring an additional 75,749 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Great Lakes Dredge and Dock during the 4th quarter worth approximately $417,000. 77.17% of the stock is owned by hedge funds and other institutional investors.

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About Great Lakes Dredge and Dock

Great Lakes Dredge & Dock Corporation provides dredging services in the United States and internationally. It operates through two segments, Dredging, and Environmental & Infrastructure. The Dredging segment is involved 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.

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