In the latest trading session, Great Lakes Dredge & Dock (GLDD) closed at $10.78, marking a -3.58% move from the previous day. This change lagged the S&P 500's 0.53% gain on the day. Meanwhile, the Dow gained 0.52%, and the Nasdaq, a tech-heavy index, added 0.52%.
The provider of dredging and dock-contracting services's stock has dropped by 8.88% in the past month, falling short of the Construction sector's loss of 1.13% and the S&P 500's gain of 0.71%.
Market participants will be closely following the financial results of Great Lakes Dredge & Dock in its upcoming release. On that day, Great Lakes Dredge & Dock is projected to report earnings of $0.17 per share, which would represent year-over-year growth of 30.77%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $197.6 million, up 3.36% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $1.02 per share and a revenue of $831.51 million, demonstrating changes of +21.43% and +9.02%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Great Lakes Dredge & Dock. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
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 is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, Great Lakes Dredge & Dock is currently exchanging hands at a Forward P/E ratio of 11. This expresses a discount compared to the average Forward P/E of 27.28 of its industry.
One should further note that GLDD currently holds a PEG ratio of 0.92. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Building Products - Heavy Construction industry had an average PEG ratio of 2.08.
The Building Products - Heavy Construction industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 31, placing it within the top 13% of over 250 industries.
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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