Great Lakes Dredge & Dock (GLDD) closed the most recent trading day at $11.15, moving +1.73% from the previous trading session. The stock's performance was ahead of the S&P 500's daily gain of 0.79%. Meanwhile, the Dow experienced a rise of 1.01%, and the technology-dominated Nasdaq saw an increase of 1.15%.
Shares of the provider of dredging and dock-contracting services have depreciated by 6.8% over the course of the past month, underperforming the Construction sector's loss of 0.94%, and the S&P 500's gain of 1.27%.
Investors will be eagerly watching for the performance of Great Lakes Dredge & Dock in its upcoming earnings disclosure. In that report, analysts expect Great Lakes Dredge & Dock to post earnings of $0.17 per share. This would mark 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.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.02 per share and revenue of $831.51 million, indicating changes of +21.43% and +9.02%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Great Lakes Dredge & Dock. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Great Lakes Dredge & Dock currently has 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 10.78. This expresses a discount compared to the average Forward P/E of 26.8 of its industry.
It is also worth noting that GLDD currently has a PEG ratio of 0.9. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Building Products - Heavy Construction industry stood at 2.06 at the close of the market yesterday.
The Building Products - Heavy Construction industry is part of the Construction sector. This group has a Zacks Industry Rank of 98, putting it in the top 40% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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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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