Great Lakes Dredge & Dock Corporation [GLDD] Stock trading around $9.85 per share: What’s Next?

Great Lakes Dredge & Dock Corporation [NASDAQ: GLDD] surged by $0.24 during the normal trading session on Monday and reaching a high of $9.95 during the day while it closed the day at $9.85. The company report on August 4, 2020 that Great Lakes Announces Share Repurchase Program.

Great Lakes Dredge & Dock Corporation (“Great Lakes” or the “Company”) (NASDAQ:GLDD), the largest provider of dredging services in the United States announced that the Board of Directors has authorized a share repurchase program pursuant to which the Company may repurchase up to $75 million of its common stock.

Lasse Petterson, Chief Executive Officer and President commented, “This repurchase program demonstrates the Board’s confidence in our future and our commitment to delivering value to all of our shareholders. Our strong cash flow and balance sheet enable us to repurchase our stock, while maintaining ample liquidity to have the flexibility to support our growth.”.

Great Lakes Dredge & Dock Corporation stock has also gained 14.06% of its value over the past 7 days. However, GLDD stock has inclined by 6.54% in the 3 months of the year. Over the past six months meanwhile, it has lost -5.87% and lost -13.02% year-on date.

The market cap for GLDD stock reached $629.73 million, with 64.86 million shares outstanding and 63.11 million shares in the current float. Compared to the average trading volume of 465.49K shares, GLDD reached a trading volume of 1092639 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Great Lakes Dredge & Dock Corporation [GLDD]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GLDD shares is $15.18 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GLDD stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Imperial Capital have made an estimate for Great Lakes Dredge & Dock Corporation shares, keeping their opinion on the stock as In-line, with their previous recommendation back on August 08, 2016. While these analysts kept the previous recommendation, DA Davidson dropped their target price from $5 to $4. The new note on the price target was released on August 05, 2016, representing the official price target for Great Lakes Dredge & Dock Corporation stock. Previously, the target price had yet another drop from $6.50 to $5.50, while Imperial Capital kept a Outperform rating on GLDD stock. On November 04, 2015, analysts decreased their price target for GLDD shares from 8.50 to 6.50.

The Average True Range (ATR) for Great Lakes Dredge & Dock Corporation is set at 0.32, with the Price to Sales ratio for GLDD stock in the period of the last 12 months amounting to 0.87. The Price to Book ratio for the last quarter was 1.99, with the Price to Cash per share for the same quarter was set at 3.65. Price to Free Cash Flow for GLDD in the course of the last twelve months was 5.84 with Quick ratio for the last quarter at 1.60.

GLDD stock trade performance evaluation

Great Lakes Dredge & Dock Corporation [GLDD] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 14.06. With this latest performance, GLDD shares gained by 17.39% in over the last four-week period, additionally sinking by -5.87% over the last 6 months – not to mention a drop of -6.76% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GLDD stock in for the last two-week period is set at 68.52, with the RSI for the last a single of trading hit 75.21, and the three-weeks RSI is set at 62.06 for Great Lakes Dredge & Dock Corporation [GLDD]. The present Moving Average for the last 50 days of trading for this stock 9.05, while it was recorded at 9.61 for the last single week of trading, and 9.60 for the last 200 days.

Great Lakes Dredge & Dock Corporation [GLDD]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Great Lakes Dredge & Dock Corporation [GLDD] shares currently have an operating margin of +13.02 and a Gross Margin at +21.33. Great Lakes Dredge & Dock Corporation’s Net Margin is presently recorded at +7.82.

Return on Total Capital for GLDD is now 15.15, given the latest momentum, and Return on Invested Capital for the company is 9.35. Return on Equity for this stock inclined to 22.52, with Return on Assets sitting at 6.37. When it comes to the capital structure of this company, Great Lakes Dredge & Dock Corporation [GLDD] has a Total Debt to Total Equity ratio set at 141.49. Additionally, GLDD Total Debt to Total Capital is recorded at 58.59, with Total Debt to Total Assets ending up at 41.07. Long-Term Debt to Equity for the company is recorded at 133.85, with the Long-Term Debt to Total Capital now at 55.43.

Reflecting on the efficiency of the workforce at the company, Great Lakes Dredge & Dock Corporation [GLDD] managed to generate an average of $144,592 per employee. Receivables Turnover for the company is 11.38 with a Total Asset Turnover recorded at a value of 0.81.Great Lakes Dredge & Dock Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 1.80.

Earnings per share (EPS) analysis for Great Lakes Dredge & Dock Corporation [GLDD] stock

With the latest financial reports released by the company, Great Lakes Dredge & Dock Corporation posted 0.14/share EPS, while the average EPS was predicted by analysts to be reported at 0.12/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 16.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GLDD. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Great Lakes Dredge & Dock Corporation go to -13.00%.

Great Lakes Dredge & Dock Corporation [GLDD]: Insider Ownership positions

There are presently around $575 million, or 91.00% of GLDD stock, in the hands of institutional investors. The top three institutional holders of GLDD stocks are: DIMENSIONAL FUND ADVISORS LP with ownership of 5,049,254, which is approximately 0.031% of the company’s market cap and around 3.10% of the total institutional ownership; BLACKROCK INC., holding 4,676,639 shares of the stock with an approximate value of $46.09 million in GLDD stocks shares; and JENNISON ASSOCIATES LLC, currently with $45.23 million in GLDD stock with ownership of nearly 9.651% of the company’s market capitalization.

Positions in Great Lakes Dredge & Dock Corporation stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 73 institutional holders increased their position in Great Lakes Dredge & Dock Corporation [NASDAQ:GLDD] by around 6,278,697 shares. Additionally, 94 investors decreased positions by around 7,290,797 shares, while 15 investors held positions by with 44,728,611 shares. The mentioned changes placed institutional holdings at 58,298,105 shares, according to the latest SEC report filing. GLDD stock had 20 new institutional investments in for a total of 2,054,118 shares, while 24 institutional investors sold positions of 1,190,439 shares during the same period.

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