In the latest market close, Great Lakes Dredge & Dock (GLDD) reached $9.14, with a +1.11% movement compared to the previous day. The stock's change was more than the S&P 500's daily gain of 0.58%. Elsewhere, the Dow saw an upswing of 0.75%, while the tech-heavy Nasdaq appreciated by 0.55%.
Prior to today's trading, shares of the provider of dredging and dock-contracting services had gained 3.91% over the past month. This has outpaced the Construction sector's loss of 1.18% and the S&P 500's loss of 0.84% in that time.
The investment community will be closely monitoring the performance of Great Lakes Dredge & Dock in its forthcoming earnings report. The company is expected to report EPS of $0.25, down 19.35% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $209.9 million, up 5.66% from the year-ago period.
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.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Great Lakes Dredge & Dock. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Right now, Great Lakes Dredge & Dock possesses a Zacks Rank of #3 (Hold).
Looking at valuation, Great Lakes Dredge & Dock is presently trading at a Forward P/E ratio of 13.2. 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.
We can additionally observe that GLDD currently boasts a PEG ratio of 1.1. 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. Building Products - Heavy Construction stocks are, on average, holding a PEG ratio of 1.1 based on yesterday's closing prices.
The Building Products - Heavy Construction industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 83, which puts it in the top 34% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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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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