Great Lakes Dredge & Dock (GLDD) closed at $11.18 in the latest trading session, marking a -1.5% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.63%. Elsewhere, the Dow lost 0.65%, while the tech-heavy Nasdaq lost 0.47%.
Prior to today's trading, shares of the provider of dredging and dock-contracting services had lost 5.18% lagged the Construction sector's loss of 0.63% and the S&P 500's gain of 0.92%.
The investment community will be paying close attention to the earnings performance of Great Lakes Dredge & Dock in its upcoming release. The company is forecasted to report an EPS of $0.17, showcasing a 30.77% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $197.6 million, indicating a 3.36% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.02 per share and a revenue of $831.51 million, signifying shifts of +21.43% and +9.02%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Great Lakes Dredge & Dock. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, Great Lakes Dredge & Dock holds a Zacks Rank of #3 (Hold).
In the context of valuation, Great Lakes Dredge & Dock is at present trading with a Forward P/E ratio of 11.16. This denotes a discount relative to the industry average Forward P/E of 27.19.
We can also see that GLDD currently has a PEG ratio of 0.93. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Building Products - Heavy Construction industry currently had an average PEG ratio of 2.04 as of yesterday's close.
The Building Products - Heavy Construction industry is part of the Construction sector. With its current Zacks Industry Rank of 25, this industry ranks in the top 11% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming 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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