Great Lakes Dredge & Dock Corporation (GLDD) is Reiterated by DA Davidson to Neutral, Lowers Price Target to $ 4

Great Lakes Dredge & Dock Corporation (GLDD) was Reiterated by DA Davidson to “Neutral” while Lowering the Price Target of the company shares to $ 4 from a previous price target of $5 . DA Davidson advised their investors in a research report released on Aug 5, 2016.

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 closed down -0.67 points or -15.37% at $3.69 with 5,16,285 shares getting traded on Thursday. Post opening the session at $4.34, the shares hit an intraday low of $3.515 and an intraday high of $4.5 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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.

Great Lakes Dredge & Dock Corporation

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