In the latest trading session, Great Lakes Dredge & Dock (GLDD) closed at $11.84, marking a -1.82% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.79%. Elsewhere, the Dow saw a downswing of 0.94%, while the tech-heavy Nasdaq depreciated by 0.92%.
The provider of dredging and dock-contracting services's shares have seen an increase of 2.9% over the last month, not keeping up with the Construction sector's gain of 5.56% and the S&P 500's gain of 5.22%.
Market participants will be closely following the financial results of Great Lakes Dredge & Dock in its upcoming release. The company's upcoming EPS is projected at $0.08, signifying a 27.27% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $174.33 million, reflecting a 2.49% rise from the equivalent quarter last year.
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.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Great Lakes Dredge & Dock. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Great Lakes Dredge & Dock presently features a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Great Lakes Dredge & Dock is currently trading at a Forward P/E ratio of 12.61. This signifies a discount in comparison to the average Forward P/E of 23.2 for its industry.
We can also see that GLDD currently has a PEG ratio of 1.05. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Building Products - Heavy Construction industry had an average PEG ratio of 1.46.
The Building Products - Heavy Construction industry is part of the Construction sector. This industry, currently bearing a Zacks Industry Rank of 2, finds itself in the top 1% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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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