In the latest trading session, Great Lakes Dredge & Dock (GLDD) closed at $11.58, marking a -1.53% move from the previous day. This move lagged the S&P 500's daily loss of 0.84%. Elsewhere, the Dow saw a downswing of 0.7%, while the tech-heavy Nasdaq depreciated by 0.91%.
Shares of the provider of dredging and dock-contracting services have appreciated by 5% over the course of the past month, outperforming the Construction sector's loss of 0%, and the S&P 500's gain of 1.44%.
Investors will be eagerly watching for the performance of Great Lakes Dredge & Dock in its upcoming earnings disclosure. The company is expected to report EPS of $0.08, down 27.27% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $174.33 million, indicating a 2.49% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.96 per share and revenue of $816.02 million. These totals would mark changes of +14.29% and +6.99%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Great Lakes Dredge & Dock. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, Great Lakes Dredge & Dock boasts a Zacks Rank of #1 (Strong Buy).
Looking at valuation, Great Lakes Dredge & Dock is presently trading at a Forward P/E ratio of 12.29. This represents a discount compared to its industry average Forward P/E of 20.6.
One should further note that GLDD currently holds a PEG ratio of 1.02. 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 had an average PEG ratio of 1.38 as trading concluded yesterday.
The Building Products - Heavy Construction industry is part of the Construction sector. With its current Zacks Industry Rank of 3, this industry ranks in the top 2% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming 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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