Great Lakes Dredge & Dock (GLDD) closed the most recent trading day at $12.35, moving +1.65% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 1.11% for the day. At the same time, the Dow added 1.19%, and the tech-heavy Nasdaq gained 1.43%.
Prior to today's trading, shares of the provider of dredging and dock-contracting services had gained 11.16% outpaced the Construction sector's gain of 2.35% and the S&P 500's gain of 3.92%.
The upcoming earnings release of Great Lakes Dredge & Dock will be of great interest to investors. The company is predicted to post an EPS of $0.08, indicating a 27.27% decline compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $174.33 million, showing a 2.49% escalation compared to the year-ago quarter.
GLDD's full-year Zacks Consensus Estimates are calling for earnings of $0.96 per share and revenue of $816.02 million. These results would represent year-over-year changes of +14.29% and +6.99%, respectively.
It is also important to note the recent changes to analyst estimates for Great Lakes Dredge & Dock. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 past month, the Zacks Consensus EPS estimate remained stagnant. Great Lakes Dredge & Dock is currently a Zacks Rank #1 (Strong Buy).
Looking at valuation, Great Lakes Dredge & Dock is presently trading at a Forward P/E ratio of 12.7. This indicates a discount in contrast to its industry's Forward P/E of 20.97.
Investors should also note that GLDD has a PEG ratio of 1.06 right now. 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 industry currently had an average PEG ratio of 1.34 as of yesterday's close.
The Building Products - Heavy Construction industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 3, placing it within the top 2% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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 follow all of these stock-moving metrics, and many 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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