In the latest trading session, Great Lakes Dredge & Dock (GLDD) closed at $14.95, marking a -3.17% move from the previous day. This change lagged the S&P 500's 0.06% loss on the day. Meanwhile, the Dow experienced a drop of 0.17%, and the technology-dominated Nasdaq saw a decrease of 0.06%.
The stock of provider of dredging and dock-contracting services has risen by 14.88% in the past month, leading the Construction sector's gain of 4.64% and the S&P 500's gain of 1.99%.
The investment community will be closely monitoring the performance of Great Lakes Dredge & Dock in its forthcoming earnings report. The company's upcoming EPS is projected at $0.22, signifying a 24.14% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $219.45 million, up 8.23% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.12 per share and revenue of $851.26 million, indicating changes of +33.33% and 0%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Great Lakes Dredge & Dock. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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, the Zacks Consensus EPS estimate has moved 3.98% higher. Great Lakes Dredge & Dock presently features a Zacks Rank of #3 (Hold).
Investors should also note Great Lakes Dredge & Dock's current valuation metrics, including its Forward P/E ratio of 13.62. For comparison, its industry has an average Forward P/E of 24.88, which means Great Lakes Dredge & Dock is trading at a discount to the group.
Meanwhile, GLDD's PEG ratio is currently 1.14. 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 1.88 at the close of the market yesterday.
The Building Products - Heavy Construction industry is part of the Construction sector. This industry, currently bearing a Zacks Industry Rank of 106, finds itself in the top 44% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming 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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