Great Lakes Dredge & Dock (GLDD) ended the recent trading session at $14.89, demonstrating a -3.37% change from the preceding day's closing price. The stock's performance was behind the S&P 500's daily gain of 0.5%. Elsewhere, the Dow saw an upswing of 0.64%, while the tech-heavy Nasdaq appreciated by 0.43%.
Prior to today's trading, shares of the provider of dredging and dock-contracting services had gained 15.52% outpaced the Construction sector's gain of 5.42% and the S&P 500's gain of 0.18%.
Market participants will be closely following the financial results of Great Lakes Dredge & Dock in its upcoming release. In that report, analysts expect Great Lakes Dredge & Dock to post earnings of $0.21 per share. This would mark a year-over-year decline of 27.59%. 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.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.11 per share and revenue of $851.26 million. These totals would mark changes of +32.14% and 0%, respectively, from last year.
It's also important for investors to be aware of any recent modifications 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 suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Great Lakes Dredge & Dock is currently sporting 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 13.6. This expresses a discount compared to the average Forward P/E of 25.32 of its industry.
Also, we should mention that GLDD has a PEG ratio of 1.13. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Building Products - Heavy Construction was holding an average PEG ratio of 1.96 at yesterday's closing price.
The Building Products - Heavy Construction industry is part of the Construction sector. This industry, currently bearing a Zacks Industry Rank of 98, finds itself in the top 40% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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