Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) has a beta value of 0.82 and has seen 0.53 million shares traded in the recent trading session. The company, currently valued at $469.98M, closed the recent trade at $7.07 per share which meant it gained $0.07 on the day or 1.00% during that session. The GLDD stock price is -130.13% off its 52-week high price of $16.27 and 9.34% above the 52-week low of $6.41. If we look at the company’s 10-day average daily trading volume, we find that it stood at 0.43 million shares traded. The 3-month trading volume is 356.01K shares.
The consensus among analysts is that Great Lakes Dredge & Dock Corporation (GLDD) is a Buy stock at the moment, with a recommendation rating of 1.70. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 0 out of 3 have rated it as a Hold, with 3 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $0.03.
Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) trade information
Sporting 1.00% in the green today, the stock has traded in the red over the last five days, with the highest price hit on Tuesday, 11/22/22 when the GLDD stock price touched $7.07 or saw a rise of 0.84%. Year-to-date, Great Lakes Dredge & Dock Corporation shares have moved -55.47%, while the 5-day performance has seen it change -3.18%. Over the past 30 days, the shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) have changed -5.66%. Short interest in the company has seen 1.78 million shares shorted with days to cover at 5.07.
Wall Street analysts have a consensus price target for the stock at $14.33, which means that the shares’ value could jump 50.66% from the levels at last check today. The projected low price target is $12.00 while the price target rests at a high of $17.00. In that case, then, we find that the latest price level in today’s session is -140.45% off the targeted high while a plunge would see the stock gain -69.73% from the levels at last check today.
Great Lakes Dredge & Dock Corporation (GLDD) estimates and forecasts
Figures show that Great Lakes Dredge & Dock Corporation shares have underperformed across the wider relevant industry. The company’s shares have lost -52.12% over the past 6 months, with this year growth rate of -54.67%, compared to -3.50% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2022 fiscal year revenue. Growth estimates for the current quarter are -85.70% and -56.80% for the next quarter. Revenue growth from the last financial year stood is estimated to be -5.10%.
3 analysts offering their estimates for the company have set an average revenue estimate of $160.43 million for the current quarter. 3 have an estimated revenue figure of $185.17 million for the next quarter concluding in Dec 2022. Year-ago sales stood $204.57 million and $209.96 million respectively for this quarter and the next, and analysts expect sales will shrink by -21.60% for the current quarter and -11.80% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 142.30% over the past 5 years. Earnings growth for 2022 is a modest -25.70% while over the next 5 years, the company’s earnings are expected to decrease by -13.00%.
Great Lakes Dredge & Dock Corporation is expected to release its next earnings report between February 14 and February 20 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD)’s Major holders
Insiders own 2.63% of the company shares, while shares held by institutions stand at 88.00% with a share float percentage of 90.38%. Investors are also buoyed by the number of investors in a company, with Great Lakes Dredge & Dock Corporation having a total of 209 institutions that hold shares in the company. The top two institutional holders are Franklin Resources, Inc. with over 5.78 million shares worth more than $75.82 million. As of Jun 29, 2022, Franklin Resources, Inc. held 8.75% of shares outstanding.
The other major institutional holder is Blackrock Inc., with the holding of over 5.53 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $72.46 million and represent 8.37% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Franklin Value Investors Trust-Franklin Small Cap Value and PGIM Jennison Small Company Fd. As of Jul 30, 2022, the former fund manager holds about 6.19% shares in the company for having 4.09 million shares of worth $52.91 million while later fund manager owns 1.96 million shares of worth $14.89 million as of Sep 29, 2022, which makes it owner of about 2.97% of company’s outstanding stock.