Great Lakes Dredge & Dock Corp. Trading Down 7.7% Following Weak Earnings (GLDD)
Great Lakes Dredge & Dock Corp. (NASDAQ:GLDD) dropped 7.7% during mid-day trading on Tuesday after the company announced weaker than expected quarterly earnings, Stock Ratings Network reports. The stock traded as low as $7.38 and last traded at $7.93, with a volume of 680,927 shares traded. The stock had previously closed at $8.59.
The company reported ($0.04) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.01) by $0.03. The company had revenue of $174.40 million for the quarter, compared to the consensus estimate of $198.15 million. During the same quarter in the prior year, the company posted $0.01 earnings per share. The company’s quarterly revenue was down 7.6% on a year-over-year basis.
The stock’s 50-day moving average is $8.84 and its 200-day moving average is $8.59. The company’s market cap is $466.2 million.
Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) is a provider of dredging services in the United States.
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