In the latest trading session, Great Lakes Dredge & Dock (GLDD) closed at $11.17, marking a +2.29% move from the previous day. The stock's change was more than the S&P 500's daily gain of 0.32%. On the other hand, the Dow registered a gain of 0.53%, and the technology-centric Nasdaq increased by 0.26%.
Heading into today, shares of the provider of dredging and dock-contracting services had lost 5.78% over the past month, lagging the Construction sector's gain of 4.6% and the S&P 500's gain of 4.51%.
The upcoming earnings release of Great Lakes Dredge & Dock will be of great interest to investors. On that day, Great Lakes Dredge & Dock is projected to report earnings of $0.08 per share, which would represent a year-over-year decline of 27.27%. Alongside, our most recent consensus estimate is anticipating revenue of $174.33 million, indicating a 2.49% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $0.96 per share and a revenue of $816.02 million, demonstrating changes of +14.29% and +6.99%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Great Lakes Dredge & Dock. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Great Lakes Dredge & Dock currently has a Zacks Rank of #3 (Hold).
Looking at valuation, Great Lakes Dredge & Dock is presently trading at a Forward P/E ratio of 11.41. For comparison, its industry has an average Forward P/E of 23.31, which means Great Lakes Dredge & Dock is trading at a discount to the group.
Meanwhile, GLDD's PEG ratio is currently 0.95. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Building Products - Heavy Construction was holding an average PEG ratio of 1.48 at yesterday's closing price.
The Building Products - Heavy Construction industry is part of the Construction sector. With its current Zacks Industry Rank of 11, this industry ranks in the top 5% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Great Lakes Dredge & Dock Corporation (GLDD): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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