Great Lakes Dredge & Dock Corporation (GLDD) was Downgraded by Imperial Capital to ” In-line” while Lowering the Price Target of the company shares to $ 4 from a previous price target of $5.50 . Earlier the firm had a rating of “Outperform ” on the company shares. Imperial Capital advised their investors in a research report released on Aug 8, 2016.
Many Wall Street Analysts have commented on Great Lakes Dredge & Dock Corporation. Shares were Reiterated by DA Davidson on Aug 5, 2016 to “Neutral” and Lowered the Price Target to $ 4 from a previous price target of $5 .
On the company’s financial health, Great Lakes Dredge & Dock Corporation reported $-0.03 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $0.01. The company had revenue of $192.19 million for the quarter, compared to analysts expectations of $217.35 million. The company’s revenue was down -19.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.05 EPS.
Great Lakes Dredge & Dock Corporation opened for trading at $3.68 and hit $3.82 on the upside on Friday, eventually ending the session at $3.73, with a gain of 1.08% or 0.04 points. The heightened volatility saw the trading volume jump to 12,65,876 shares. Company has a market cap of $227 M.
In a different news, on Sep 15, 2015, Nathan Leight (director) purchased 12,900 shares at $5.24 per share price. According to the SEC, on Jun 15, 2015, Maryann Waryjas (SVP & Chief Legal Officer) purchased 5,200 shares at $5.89 per share price. On May 11, 2015, Jonathan W Berger (CEO) purchased 3,595 shares at $5.62 per share price, according to the Form-4 filing with the securities and exchange commission.
Great Lakes Dredge & Dock Corporation (Great Lakes) is a provider of dredging services. Great Lakes provides dredging services in the East West and Gulf Coasts of the United States and around the world. The Company operates in two segments: Dredging Operations which involves in the enhancement or preservation of navigability of waterways or the protection of shorelines through the removal or replenishment of soil sand or rock and Environmental & Remediation Operations which provides soil water and sediment environmental remediation for clients in both the public and private sectors in the United States. The Company has a 50% interest in Amboy Aggregates (Amboy) a sand dredging operation in New Jersey; A 50% interest in Lower Main Street Development LLC (Lower Main) land development and sale business and a 50% interest in TerraSea Environmental Solutions (TerraSea) a remediation business.