Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) stock fell -0.71% on Wednesday to $6.95 against a previous-day closing price of $7.00. With 0.86 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.36 million shares. The 52-week range on GLDD shows that it touched its highest point at $16.27 and its lowest point at $6.41 during that stretch. It currently has a 1-year price target of $13.33. Beta for the stock currently stands at 0.82.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of GLDD was down-trending over the past week, with a drop of -1.42%, but this was down by -8.55% over a month. Three-month performance dropped to -32.52% while six-month performance fell -52.79%. The stock lost -56.99% in the past year, while it has lost -55.79% so far this year. A look at the trailing 12-month EPS for GLDD yields 0.33 with Next year EPS estimates of 0.43. For the next quarter, that number is -0.05. This implies an EPS growth rate of -25.70% for this year and 577.80% for next year. EPS is expected to decline by -13.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 142.30%.
Float and Shares Shorts:
At present, 66.11 million GLDD shares are outstanding with a float of 64.43 million shares on hand for trading. On Oct 13, 2022, short shares totaled 1.78 million, which was 2.70% higher than short shares on Sep 14, 2022. In addition to Mr. Lasse J. Petterson as the firm’s CEO, Pres & Director, Mr. Scott Lee Kornblau serves as its Sr. VP, Treasurer & CFO.
Through their ownership of 88.00% of GLDD’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 51.09% of GLDD, in contrast to 45.81% held by mutual funds. Shares owned by individuals account for 44.13%. As the largest shareholder in GLDD with 8.36% of the stake, Franklin Mutual Advisers LLC holds 5,521,660 shares worth 5,521,660. A second-largest stockholder of GLDD, BlackRock Fund Advisors, holds 5,085,439 shares, controlling over 7.70% of the firm’s shares. Jennison Associates LLC is the third largest shareholder in GLDD, holding 4,900,918 shares or 7.42% stake. With a 5.90% stake in GLDD, the Franklin Small Cap Value Fund is the largest stakeholder. A total of 3,900,693 shares are owned by the mutual fund manager. The PGIM Jennison Small Company Fund, which owns about 3.06% of GLDD stock, is the second-largest Mutual Fund holder. It holds 2,018,737 shares valued at 15.26 million. Vanguard Total Stock Market Index holds 2.79% of the stake in GLDD, owning 1,843,428 shares worth 13.94 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for GLDD since 3 analysts follow the stock currently. There are 3 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With GLDD analysts setting a high price target of $17.00 and a low target of $12.00, the average target price over the next 12 months is $14.33. Based on these targets, GLDD could surge 144.6% to reach the target high and rise by 72.66% to reach the target low. Reaching the average price target will result in a growth of 106.19% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. GLDD will report FY 2022 earnings on 02/22/2023. Analysts have provided yearly estimates in a range of -$0.08 being high and -$0.10 being low. For GLDD, this leads to a yearly average estimate of -$0.09. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Great Lakes Dredge & Dock Corporation surprised analysts by -$0.18 when it reported -$0.15 EPS against a consensus estimate of $0.03. The surprise factor in the prior quarter was -$0.18. Based on analyst estimates, the high estimate for the next quarter is -$0.03 and the low estimate is -$0.06. The average estimate for the next quarter is thus -$0.05.
Summary of Insider Activity:
Insiders traded GLDD stock several times over the past three months with 7 Buys and 0 Sells. In these transactions, 17,310 shares were bought while 0 shares were sold. The number of buy transactions has increased to 48 while that of sell transactions has risen to 17 over the past year. The total number of shares bought during that period was 446,933 while 104,832 shares were sold.