Great Lakes Dredge & Dock (GLDD) closed the most recent trading day at $11.58, moving +1.58% from the previous trading session. The stock exceeded the S&P 500, which registered a loss of 0.27% for the day.
Shares of the provider of dredging and dock-contracting services witnessed a loss of 0.18% over the previous month, trailing the performance of the Construction sector with its gain of 3.59%, and the S&P 500's gain of 6.9%.
The investment community will be closely monitoring the performance of Great Lakes Dredge & Dock in its forthcoming earnings report. The company's upcoming EPS is projected at $0.08, signifying a 27.27% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $174.33 million, up 2.49% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $0.96 per share and a revenue of $816.02 million, demonstrating changes of +14.29% and +6.99%, respectively, from the preceding year.
Any recent changes to analyst estimates for Great Lakes Dredge & Dock should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 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 #1 (Strong Buy).
Digging into valuation, Great Lakes Dredge & Dock currently has a Forward P/E ratio of 11.92. This represents a discount compared to its industry average Forward P/E of 19.75.
One should further note that GLDD currently holds a PEG ratio of 0.99. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Building Products - Heavy Construction was holding an average PEG ratio of 1.33 at yesterday's closing price.
The Building Products - Heavy Construction industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 3, which puts it in the top 2% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
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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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