HOUSTON, Oct. 29, 2024 (GLOBE NEWSWIRE) -- Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) today announced that it will release the financial results for its three and nine months ended September 30, 2024 on Tuesday, November 5, 2024 at 7:00 a.m. C.S.T. A conference call with the Company will be held the same day at 9:00 a.m. C.S.T. Investors and analysts are encouraged to pre-register for the conference call by using the link below. Participants who pre-register will be given a unique PIN to gain imme ...

Great Lakes Dredge & Dock (GLDD) closed at $11.52 in the latest trading session, marking a -1.62% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.27%. On the other hand, the Dow registered a gain of 0.65%, and the technology-centric Nasdaq increased by 0.26%. Coming into today, shares of the provider of dredging and dock-contracting services had gained 11.84% in the past month. In that same time, the Construction sector lost 2.03%, while the S&P 500 gained 2%. The ...

Great Lakes Dredge & Dock Corporation (GLDD) is benefiting from its focus on the new build program and the ongoing demand strength for dredging services. The consistent award wins reflect the favorable market trends and the strategic initiatives undertaken by the company. Other industry players that share space with GLDD, including EMCOR Group, Inc. (EME) , Granite Construction Incorporated (GVA) and MasTec, Inc. (MTZ) , are also benefiting from the favorable market trends and solid demand for public constr ...

Company Performance - Great Lakes Dredge & Dock (GLDD) closed at $11.62, reflecting a -0.09% change from the previous session, underperforming the S&P 500's gain of 0.71% [1] - Over the past month, GLDD shares have increased by 23.85%, surpassing the Construction sector's gain of 8.51% and the S&P 500's gain of 6.41% [1] Earnings Projections - The upcoming EPS for GLDD is projected at $0.18, indicating a 300% increase compared to the same quarter of the previous year [2] - Revenue is forecasted to be $180.8 million, representing a 54.28% growth compared to the corresponding quarter of the prior year [2] Fiscal Year Estimates - For the entire fiscal year, earnings are projected at $0.80 per share, reflecting a +471.43% change from the prior year [3] - Revenue for the fiscal year is estimated at $749.53 million, indicating a +27.12% change from the previous year [3] Analyst Estimates - Changes in analyst estimates for GLDD are crucial as they reflect near-term business trends, with positive revisions indicating a favorable business outlook [4] - The Zacks Rank system, which incorporates estimate changes, currently ranks GLDD at 3 (Hold) [6] Valuation Metrics - GLDD has a Forward P/E ratio of 14.54, which is below the industry average of 22.04, suggesting it is trading at a discount [7] - The company has a PEG ratio of 0.42, significantly lower than the industry average PEG ratio of 2.19 [8] Industry Context - The Building Products - Heavy Construction industry, which includes GLDD, holds a Zacks Industry Rank of 159, placing it in the bottom 37% of over 250 industries [9] - Research indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [9]

The most recent trading session ended with Great Lakes Dredge & Dock (GLDD) standing at $11.27, reflecting a -0.62% shift from the previouse trading day's closing. This move lagged the S&P 500's daily loss of 0.17%. Meanwhile, the Dow lost 0.44%, and the Nasdaq, a tech-heavy index, lost 0.04%. Shares of the provider of dredging and dock-contracting services witnessed a gain of 21.28% over the previous month, beating the performance of the Construction sector with its gain of 3.88% and the S&P 500's gain of ...

Great Lakes Dredge & Dock Corporation (GLDD) has announced receiving $342.3 million worth of several dredging awards, thus further enhancing its backlog and revenue visibility in the upcoming years. Besides this, the company also has approximately $350 million in low bids and options pending award. This includes three works for which GLDD was a low bidder in the past two months, thereby bringing its potential total pipeline of work to more than $1.5 billion. More on Great Lakes' New Awards The company highl ...

Core Insights - Great Lakes Dredge & Dock Corp (GLDD) shares increased by 9.84% on October 2, reaching an intraday high of $11.78, which is 0.04% below its 52-week high and 92.56% above its 52-week low of $6.12 [1] - The average target price for GLDD, based on forecasts from 4 analysts, is $14.00, indicating an upside potential of 18.90% from the current price [2] - The average brokerage recommendation for GLDD is 1.7, suggesting an "Outperform" status, with a rating scale from 1 (Strong Buy) to 5 (Sell) [2] Stock Performance - GLDD's stock closed at $11.78, up from the previous close of $10.72, with a trading volume of 492,764 shares, which is 91.7% of the average daily volume of 537,448 [1] - The stock's performance places it at 0.04% below its 52-week high and 92.56% above its 52-week low [1] Analyst Projections - The high estimate for GLDD's price target is $15.00, while the low estimate is $13.00 [2] - GuruFocus estimates the GF Value for GLDD in one year to be $10.76, suggesting a downside of 8.62% from the current price [2]

Core Viewpoint - Great Lakes Dredge & Dock Corporation has secured several dredging awards totaling $342.3 million, enhancing its project backlog and revenue visibility into 2026 [1][7]. Project Summaries - **Sabine-Neches Waterway Channel Improvement, Contract 6 Project**: This project, valued at $219.1 million, aims to deepen the channel for larger vessels, reduce transportation costs, and improve safety. It is federally funded and expected to start in mid-2025, with completion in late 2026. There are approximately $16 million in options pending [1]. - **Canaveral Harbor Sand Bypass Project 5**: Valued at $40.6 million, this project involves maintenance dredging and is expected to start and complete in the first quarter of 2025. It is federally funded [2]. - **Brigantine Inlet to Great Egg Harbor Inlet, Absecon Island Beach Renourishment Project**: This $38.2 million project includes beachfill material placement along the coastline and has $29.2 million in options pending. It is federally funded and expected to start in Q4 2024, completing in Q1 2025 [3]. - **Captiva Island Beach Renourishment Project**: This project, valued at $26.7 million, involves beach renourishment over five miles on Captiva Island. It is locally funded and expected to start in Q3 2025, with completion later that year [4]. - **Cape Cod Canal and Sandwich Beaches Renourishment Project**: Valued at $8.9 million, this project aims to replenish storm-eroded beaches. It is federally funded and expected to start in fall 2024, completing in winter 2024 [5]. - **Brazos Island Harbor, Texas Entrance and Jetty Channels Dredging Project**: This $8.8 million project focuses on maintaining channel depths and beneficial reuse of dredged material. It is federally funded with some state funding, expected to start and complete in Q4 2024 [6]. Company Overview - Great Lakes Dredge & Dock Corporation is the largest provider of dredging services in the U.S. and is expanding into the offshore wind energy sector. The company has a strong track record of completing marine projects and operates a diverse fleet of approximately 200 specialized vessels [8]. - The company emphasizes a disciplined training program for engineers and integrates a safety management program, Incident-and Injury-Free® (IIF®), into its culture to prioritize employee safety [8]. - As of 2024, the company has a robust bid market with approximately $350 million in low bids and options pending, bringing its total potential pipeline to over $1.5 billion [7].

Company Performance - Great Lakes Dredge & Dock (GLDD) closed at $10.58, with a daily increase of +0.86%, outperforming the S&P 500's gain of 0.4% [1] - The stock has increased by 5.43% over the last month, surpassing the Construction sector's gain of 2.56% and the S&P 500's gain of 1.71% [1] Upcoming Earnings - The company is projected to report earnings of $0.18 per share, indicating a year-over-year growth of 300% [2] - Revenue is estimated at $180.8 million, reflecting a 54.28% increase from the same quarter last year [2] Fiscal Year Estimates - For the entire fiscal year, earnings are expected to be $0.80 per share, representing a growth of +471.43% [3] - Revenue for the fiscal year is projected at $749.53 million, indicating a +27.12% change from the previous year [3] Analyst Forecasts - Recent revisions to analyst forecasts are crucial, as upward revisions indicate positive sentiment towards the company's operations and profit generation capabilities [4] Zacks Rank and Valuation - Great Lakes Dredge & Dock currently holds a Zacks Rank of 2 (Buy), with a proven track record of outperformance [6] - The Forward P/E ratio is 13.11, which is a discount compared to the industry average of 21.46 [7] - The PEG ratio stands at 0.37, significantly lower than the industry average of 2.5, indicating favorable valuation metrics [7] Industry Context - The Building Products - Heavy Construction industry is part of the Construction sector and has a Zacks Industry Rank of 13, placing it in the top 6% of over 250 industries [8]

Group 1 - The focus is on GARP (Growth at Reasonable Price) opportunities within the industrial, consumer, and technology sectors [1] - The article encourages readers to follow for the latest research updates and invites questions through comments or messaging [1] Group 2 - The article is authored by Gayatri S. [2] - There is a disclosure stating that past performance does not guarantee future results and that no specific investment recommendations are provided [3] - The analysts contributing to the article may not be licensed or certified by any regulatory body [3]