Wall Street analysts expect Great Lakes Dredge & Dock (GLDD) to post quarterly earnings of $0.08 per share in its upcoming report, which indicates a year-over-year decline of 27.3%. Revenues are expected to be $174.33 million, up 2.5% from the year-ago quarter.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Bearing this in mind, let's now explore the average estimates of specific Great Lakes Dredge & Dock metrics that are commonly monitored and projected by Wall Street analysts.
The average prediction of analysts places 'Contract Revenues- Dredging- Capital [$M]' at $76.00 million. The estimate indicates a year-over-year change of +7.4%.
Analysts expect 'Contract Revenues- Dredging- Maintenance [$M]' to come in at $21.60 million. The estimate indicates a year-over-year change of -24.1%.
The consensus estimate for 'Contract Revenues- Dredging- Coastal protection' stands at $78.65 million. The estimate indicates a year-over-year change of +12.1%.
View all Key Company Metrics for Great Lakes Dredge & Dock here>>>
Shares of Great Lakes Dredge & Dock have experienced a change of -12.7% in the past month compared to the +0.6% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), GLDD is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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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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