Great Lakes Dredge & Dock (GLDD) closed the most recent trading day at $13.31, moving +1.6% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 0.65% for the day. Elsewhere, the Dow gained 0.48%, while the tech-heavy Nasdaq added 0.82%.
Heading into today, shares of the provider of dredging and dock-contracting services had lost 5.62% over the past month, lagging the Construction sector's gain of 0.07% and the S&P 500's gain of 1.15%.
The investment community will be closely monitoring the performance of Great Lakes Dredge & Dock in its forthcoming earnings report. The company is predicted to post an EPS of $0.23, indicating a 20.69% decline compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $219.45 million, reflecting a 8.23% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $1.09 per share and a revenue of $851.26 million, demonstrating changes of +29.76% and 0%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Great Lakes Dredge & Dock. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. Right now, Great Lakes Dredge & Dock possesses a Zacks Rank of #3 (Hold).
With respect to valuation, Great Lakes Dredge & Dock is currently being traded at a Forward P/E ratio of 12.02. This valuation marks a discount compared to its industry average Forward P/E of 21.53.
We can additionally observe that GLDD currently boasts a PEG ratio of 1. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Building Products - Heavy Construction industry had an average PEG ratio of 1.66 as trading concluded yesterday.
The Building Products - Heavy Construction industry is part of the Construction sector. With its current Zacks Industry Rank of 195, this industry ranks in the bottom 21% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow GLDD in the coming trading sessions, be sure to utilize Zacks.com.
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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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