In the latest close session, Great Lakes Dredge & Dock (GLDD) was up +1.07% at $13.26. The stock's change was more than the S&P 500's daily gain of 0.19%. At the same time, the Dow added 0.66%, and the tech-heavy Nasdaq lost 0.03%.
Heading into today, shares of the provider of dredging and dock-contracting services had gained 1.78% over the past month, outpacing the Construction sector's loss of 2.51% and the S&P 500's gain of 0.54%.
The upcoming earnings release of Great Lakes Dredge & Dock will be of great interest to investors. The company's earnings per share (EPS) are projected to be $0.23, reflecting a 20.69% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $219.45 million, up 8.23% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.09 per share and a revenue of $851.26 million, indicating changes of +29.76% and 0%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Great Lakes Dredge & Dock. Recent revisions tend to reflect the latest 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. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Great Lakes Dredge & Dock currently has a Zacks Rank of #1 (Strong Buy).
Investors should also note Great Lakes Dredge & Dock's current valuation metrics, including its Forward P/E ratio of 12.04. This represents a discount compared to its industry average Forward P/E of 21.4.
It's also important to note that GLDD currently trades at a PEG ratio of 1. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Building Products - Heavy Construction was holding an average PEG ratio of 1.65 at yesterday's closing price.
The Building Products - Heavy Construction industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 20, which puts it in the top 9% of all 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Great Lakes Dredge & Dock Corporation (GLDD): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
