Great Lakes Dredge & Dock (GLDD) closed the most recent trading day at $9.04, moving -1.31% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 0.06%. Meanwhile, the Dow experienced a rise of 0.28%, and the technology-dominated Nasdaq saw a decrease of 0.1%.
Prior to today's trading, shares of the provider of dredging and dock-contracting services had gained 3.62% over the past month. This has outpaced the Construction sector's loss of 6.22% and the S&P 500's loss of 4.29% in that time.
The investment community will be closely monitoring the performance of Great Lakes Dredge & Dock in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0.25, reflecting a 19.35% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $209.9 million, reflecting a 5.66% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.69 per share and a revenue of $775.45 million, signifying shifts of -17.86% and +1.67%, respectively, from the last year.
Any recent changes to analyst estimates for Great Lakes Dredge & Dock should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. Currently, Great Lakes Dredge & Dock is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Great Lakes Dredge & Dock is presently being traded at a Forward P/E ratio of 13.37. This signifies a discount in comparison to the average Forward P/E of 14.56 for its industry.
We can additionally observe that GLDD currently boasts a PEG ratio of 1.11. 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 industry had an average PEG ratio of 1.11 as trading concluded yesterday.
The Building Products - Heavy Construction industry is part of the Construction sector. With its current Zacks Industry Rank of 29, this industry ranks in the top 12% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during 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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