Barclays Capital Analysts Reduce Target Price on GLDD Shares (USA)

Barclays Capital Analysts Reduce Target Price on GLDD Shares

Analysts at Barclays Capital reduced their target price on shares of Great Lakes Dredge & Dock Corp. from $9.00 to $8.00 in a research report issued to clients and investors on Monday, StockRatingsNetwork reports. Barclays Capital’s target price points to a potential upside of 15.94% from the stock’s previous close.

Great Lakes Dredge & Dock Corp. traded down 1.43% on Monday, hitting $6.90. Great Lakes Dredge & Dock Corp. has a 52-week low of $6.30 and a 52-week high of $10.07. The stock’s 50-day moving average is currently $8.00. The company’s market cap is $410.1 million.

Great Lakes Dredge & Dock Corp. last announced its earnings results on Thursday, August 8th. The company reported ($0.42) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.08 by $0.50. The company had revenue of $152.86 million for the quarter, compared to the consensus estimate of $191.83 million.

During the same quarter last year, the company posted $0.07 earnings per share. Great Lakes Dredge & Dock Corp.’s revenue was down 6.3% compared to the same quarter last year. On average, analysts predict that Great Lakes Dredge & Dock Corp. will post $0.32 earnings per share for the current fiscal year.

[mappress]

Press Release, August 13, 2013

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