Yahoo Finance Great Lakes Dredge & Dock (GLDD) Rises But Trails Market: What Investors Should Know
In the latest trading session, Great Lakes Dredge & Dock (GLDD) closed at $8.79, marking a +0.11% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 0.77%. Elsewhere, the Dow saw an upswing of 0.49%, while the tech-heavy Nasdaq appreciated by 0.95%.
The provider of dredging and dock-contracting services's shares have seen a decrease of 7.38% over the last month, not keeping up with the Construction sector's loss of 4.01% and the S&P 500's gain of 3.71%.
The investment community will be paying close attention to the earnings performance of Great Lakes Dredge & Dock in its upcoming release. The company is forecasted to report an EPS of $0.03, showcasing no movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $165 million, indicating a 24.37% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.72 per share and revenue of $746.93 million, which would represent changes of +414.29% and +26.68%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Great Lakes Dredge & Dock. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 4% fall in the Zacks Consensus EPS estimate. At present, Great Lakes Dredge & Dock boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Great Lakes Dredge & Dock has a Forward P/E ratio of 12.19 right now. This denotes a discount relative to the industry's average Forward P/E of 19.37.
Investors should also note that GLDD has a PEG ratio of 0.35 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Building Products - Heavy Construction industry held an average PEG ratio of 1.8.
The Building Products - Heavy Construction industry is part of the Construction sector. This industry, currently bearing a Zacks Industry Rank of 16, finds itself in the top 7% echelons of all 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Great Lakes Dredge & Dock Corporation (GLDD) : Free Stock Analysis Report
