Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) was the recipient of unusually large options trading activity on Tuesday. Traders purchased 520 call options on the stock. This is an increase of approximately 900% compared to the typical volume of 52 call options.
Shares of Great Lakes Dredge & Dock opened at $5.55 on Wednesday, MarketBeat reports. The company has a current ratio of 1.78, a quick ratio of 1.53 and a debt-to-equity ratio of 1.95. The stock has a market cap of $345.36 million, a price-to-earnings ratio of -20.56 and a beta of 0.74. Great Lakes Dredge & Dock has a 1-year low of $3.60 and a 1-year high of $5.70.
Get Great Lakes Dredge & Dock alerts:Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its quarterly earnings data on Wednesday, May 2nd. The construction company reported ($0.07) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.07. The firm had revenue of $146.59 million for the quarter, compared to analysts’ expectations of $184.20 million. Great Lakes Dredge & Dock had a negative net margin of 3.51% and a negative return on equity of 7.17%. The company’s quarterly revenue was down 14.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.28) earnings per share. equities analysts anticipate that Great Lakes Dredge & Dock will post -0.01 EPS for the current year.
A number of institutional investors have recently modified their holdings of the business. KBC Group NV grew its stake in Great Lakes Dredge & Dock by 23.2% during the first quarter. KBC Group NV now owns 57,047 shares of the construction company’s stock worth $262,000 after buying an additional 10,730 shares during the last quarter. Northern Trust Corp grew its stake in Great Lakes Dredge & Dock by 1.7% during the first quarter. Northern Trust Corp now owns 681,150 shares of the construction company’s stock worth $3,133,000 after buying an additional 11,074 shares during the last quarter. Levin Capital Strategies L.P. grew its stake in Great Lakes Dredge & Dock by 78.2% during the first quarter. Levin Capital Strategies L.P. now owns 37,000 shares of the construction company’s stock worth $170,000 after buying an additional 16,238 shares during the last quarter. MetLife Investment Advisors LLC grew its stake in Great Lakes Dredge & Dock by 164.5% during the first quarter. MetLife Investment Advisors LLC now owns 27,775 shares of the construction company’s stock worth $128,000 after buying an additional 17,274 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in Great Lakes Dredge & Dock during the fourth quarter worth about $103,000. 78.02% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Great Lakes Dredge & Dock from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 4th. ValuEngine raised shares of Great Lakes Dredge & Dock from a “hold” rating to a “buy” rating in a research report on Monday, May 7th. BidaskClub raised shares of Great Lakes Dredge & Dock from a “sell” rating to a “hold” rating in a research note on Wednesday, April 4th. Finally, Noble Financial set a $8.00 price objective on shares of Great Lakes Dredge & Dock and gave the stock a “buy” rating in a research note on Thursday, May 31st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Great Lakes Dredge & Dock currently has an average rating of “Hold” and an average target price of $8.00.
Great Lakes Dredge & Dock Company Profile
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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