Last Updated: 09 Nov 2024
Executive Summary
Great Lakes Dredge & Dock (GLDD) is a leading provider of dredging services in the United States. The company has a strong track record of financial performance, with a market capitalization of $836.86 million and an EBITDA of $125.89 million. GLDD's PE ratio of 14.07 and PEG ratio of 0.444 indicate that the stock is currently undervalued. The company's strong fundamentals and technical indicators suggest that it is a good investment for both short-term and long-term investors.
Company Overview
Great Lakes Dredge & Dock Corporation was founded in 1902 and is headquartered in Houston, Texas. The company provides a variety of dredging services, including channel deepening, harbor maintenance, and environmental remediation. GLDD operates a fleet of over 100 dredges and support vessels, and has a workforce of over 1,000 employees.
Fundamental Analysis
GLDD's financial performance has been strong in recent years. The company's revenue has grown from $691.65 million in 2020 to $741.65 million in 2023. GLDD's net income has also increased from $38.91 million in 2020 to $59.12 million in 2023. The company's profit margin has remained relatively stable at around 8%.
GLDD's balance sheet is also strong. The company has a total debt of $180.4 million, which is less than its total equity of $492.1 million. GLDD's current ratio is 1.23, which indicates that the company has enough liquidity to meet its short-term obligations.
Technical Analysis
GLDD's stock price has been trending upwards in recent months. The stock price is currently trading at $12.69, which is above its 50-day moving average of $10.87 and its 200-day moving average of $9.18. The relative strength index (RSI) is currently at 62, which indicates that the stock is overbought. However, the moving average convergence divergence (MACD) is currently positive, which indicates that the stock is still in a bullish trend.
Short Term Outlook
The short-term outlook for GLDD is positive. The company's financial performance is strong, and its stock price is trending upwards. The RSI is currently overbought, which could indicate that the stock is due for a pullback. However, the MACD is still positive, which suggests that the stock is still in a bullish trend. Overall, the short-term outlook for GLDD is positive.
Long Term Outlook
The long-term outlook for GLDD is also positive. The company's strong fundamentals and technical indicators suggest that it is a good investment for long-term investors. GLDD's dredging services are essential for maintaining the nation's waterways, and the company is well-positioned to benefit from the growing demand for dredging services. Overall, the long-term outlook for GLDD is positive.
Analyst Recommendations
The majority of analysts recommend buying GLDD stock. The average analyst price target is $14.75, which is above the current stock price of $12.69. One analyst has a strong buy rating on the stock, two analysts have buy ratings, and no analysts have hold, sell, or strong sell ratings. Overall, the analyst recommendations for GLDD are positive.
