Great Lakes Dredge & Dock (GLDD) closed at $15.46 in the latest trading session, marking a +2.25% move from the prior day. This change outpaced the S&P 500's 0.84% loss on the day. Elsewhere, the Dow saw a downswing of 0.34%, while the tech-heavy Nasdaq depreciated by 1.43%.
Coming into today, shares of the provider of dredging and dock-contracting services had gained 10.61% in the past month. In that same time, the Construction sector gained 5.01%, while the S&P 500 gained 1.8%.
The investment community will be closely monitoring the performance of Great Lakes Dredge & Dock in its forthcoming earnings report. In that report, analysts expect Great Lakes Dredge & Dock to post earnings of $0.2 per share. This would mark a year-over-year decline of 31.03%. Meanwhile, the latest consensus estimate predicts the revenue to be $218.67 million, indicating a 7.84% increase compared to the same quarter of the previous year.
GLDD's full-year Zacks Consensus Estimates are calling for earnings of $1.09 per share and revenue of $850.48 million. These results would represent year-over-year changes of +29.76% and 0%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Great Lakes Dredge & Dock. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 2.72% fall in the Zacks Consensus EPS estimate. Great Lakes Dredge & Dock is currently a Zacks Rank #5 (Strong Sell).
In terms of valuation, Great Lakes Dredge & Dock is presently being traded at a Forward P/E ratio of 13.71. For comparison, its industry has an average Forward P/E of 25.99, which means Great Lakes Dredge & Dock is trading at a discount to the group.
Also, we should mention that GLDD has a PEG ratio of 1.14. 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 currently had an average PEG ratio of 1.73 as of yesterday's close.
The Building Products - Heavy Construction industry is part of the Construction sector. With its current Zacks Industry Rank of 96, this industry ranks in the top 40% of all industries, numbering over 250.
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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming 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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