In the latest market close, Great Lakes Dredge & Dock (GLDD) reached $8.60, with a +0.58% movement compared to the previous day. This change lagged the S&P 500's 2.51% gain on the day. Meanwhile, the Dow experienced a rise of 2.66%, and the technology-dominated Nasdaq saw an increase of 2.71%.
The provider of dredging and dock-contracting services's stock has dropped by 7.27% in the past month, exceeding the Construction sector's loss of 9.21% and the S&P 500's loss of 8.86%.
Investors will be eagerly watching for the performance of Great Lakes Dredge & Dock in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.25, signifying a 19.35% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $209.9 million, indicating a 5.66% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.69 per share and revenue of $775.45 million, which would represent changes of -17.86% and +1.67%, respectively, from the prior year.
Any recent changes to analyst estimates for Great Lakes Dredge & Dock should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, Great Lakes Dredge & Dock possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Great Lakes Dredge & Dock is currently exchanging hands at a Forward P/E ratio of 12.48. For comparison, its industry has an average Forward P/E of 14.63, which means Great Lakes Dredge & Dock is trading at a discount to the group.
Investors should also note that GLDD has a PEG ratio of 1.04 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Building Products - Heavy Construction industry held an average PEG ratio of 1.04.
The Building Products - Heavy Construction industry is part of the Construction sector. This group has a Zacks Industry Rank of 42, putting it in the top 17% 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.
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
