What is Noble Financial’s Forecast for GLDD Q4 Earnings?

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) – Equities research analysts at Noble Financial raised their Q4 2024 earnings per share (EPS) estimates for Great Lakes Dredge & Dock in a research note issued to investors on Wednesday, November 6th. Noble Financial analyst J. Gomes now anticipates that the construction company will post earnings of $0.22 per share for the quarter, up from their prior forecast of $0.21. Noble Financial has a “Outperform” rating and a $14.00 price target on the stock. The consensus estimate for Great Lakes Dredge & Dock’s current full-year earnings is $0.80 per share. Noble Financial also issued estimates for Great Lakes Dredge & Dock’s FY2025 earnings at $0.93 EPS.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last announced its earnings results on Tuesday, November 5th. The construction company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.05). The firm had revenue of $191.17 million during the quarter, compared to analyst estimates of $180.80 million. Great Lakes Dredge & Dock had a return on equity of 10.05% and a net margin of 6.61%. During the same quarter in the previous year, the business earned ($0.09) earnings per share.

Separately, StockNews.com downgraded shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th.

Great Lakes Dredge & Dock Stock Performance

Shares of GLDD opened at $12.38 on Thursday. Great Lakes Dredge & Dock has a 52 week low of $6.11 and a 52 week high of $12.59. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.13 and a current ratio of 1.32. The company has a market capitalization of $831.81 million, a PE ratio of 19.05, a PEG ratio of 0.41 and a beta of 1.13. The company’s 50 day moving average price is $10.92 and its 200 day moving average price is $9.54.

Insider Buying and Selling

In other Great Lakes Dredge & Dock news, CEO Lasse Petterson sold 46,510 shares of Great Lakes Dredge & Dock stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $9.08, for a total value of $422,310.80. Following the completion of the sale, the chief executive officer now directly owns 931,101 shares in the company, valued at $8,454,397.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 128,990 shares of company stock worth $1,174,747. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Great Lakes Dredge & Dock

Several institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP raised its holdings in Great Lakes Dredge & Dock by 68.5% during the second quarter. Quarry LP now owns 3,097 shares of the construction company’s stock valued at $27,000 after buying an additional 1,259 shares in the last quarter. Innealta Capital LLC acquired a new stake in Great Lakes Dredge & Dock in the 2nd quarter worth approximately $30,000. nVerses Capital LLC boosted its position in Great Lakes Dredge & Dock by 400.0% during the third quarter. nVerses Capital LLC now owns 3,500 shares of the construction company’s stock worth $37,000 after purchasing an additional 2,800 shares during the period. CWM LLC boosted its position in Great Lakes Dredge & Dock by 520.5% during the second quarter. CWM LLC now owns 5,051 shares of the construction company’s stock worth $44,000 after purchasing an additional 4,237 shares during the period. Finally, ARS Investment Partners LLC grew its holdings in Great Lakes Dredge & Dock by 11.0% during the second quarter. ARS Investment Partners LLC now owns 12,150 shares of the construction company’s stock valued at $107,000 after purchasing an additional 1,200 shares during the last quarter. Institutional investors and hedge funds own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Company Profile

Great Lakes Dredge & Dock Corporation provides dredging services in the United States. The company engages 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.