Great Lakes Dredge & Dock (GLDD) closed at $12.23 in the latest trading session, marking a +1.75% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 0.52%. On the other hand, the Dow registered a gain of 1%, and the technology-centric Nasdaq increased by 0.52%.
Coming into today, shares of the provider of dredging and dock-contracting services had gained 6.47% in the past month. In that same time, the Construction sector gained 3.08%, while the S&P 500 gained 5.95%.
Investors will be eagerly watching for the performance of Great Lakes Dredge & Dock in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.08, marking a 27.27% fall compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $174.33 million, indicating a 2.49% increase compared to the same quarter of the previous 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 might also notice recent changes to analyst estimates for Great Lakes Dredge & Dock. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 has remained steady. Great Lakes Dredge & Dock is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Great Lakes Dredge & Dock is holding a Forward P/E ratio of 12.56. This valuation marks a discount compared to its industry average Forward P/E of 21.66.
One should further note that GLDD currently holds a PEG ratio of 1.05. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The average PEG ratio for the Building Products - Heavy Construction industry stood at 1.37 at the close of the market yesterday.
The Building Products - Heavy Construction industry is part of the Construction sector. This group has a Zacks Industry Rank of 3, putting it in the top 2% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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