Yahoo Finance Great Lakes Dredge & Dock (GLDD) Ascends While Market Falls: Some Facts to Note
Great Lakes Dredge & Dock (GLDD) closed at $8.89 in the latest trading session, marking a +0.79% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.31%. On the other hand, the Dow registered a gain of 0.67%, and the technology-centric Nasdaq decreased by 1.09%.
The the stock of provider of dredging and dock-contracting services has fallen by 4.13% in the past month, leading the Construction sector's loss of 4.24% and undershooting the S&P 500's gain of 2.73%.
The investment community will be closely monitoring the performance of Great Lakes Dredge & Dock in its forthcoming earnings report. On that day, Great Lakes Dredge & Dock is projected to report earnings of $0.03 per share, which would represent no growth from the year-ago period. Meanwhile, the latest consensus estimate predicts the revenue to be $165 million, indicating a 24.37% 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 $0.72 per share and revenue of $746.93 million. These totals would mark changes of +414.29% and +26.68%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Great Lakes Dredge & Dock. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 4% lower. As of now, Great Lakes Dredge & Dock holds a Zacks Rank of #3 (Hold).
Investors should also note Great Lakes Dredge & Dock's current valuation metrics, including its Forward P/E ratio of 12.25. This valuation marks a discount compared to its industry's average Forward P/E of 19.89.
It's also important to note that GLDD currently trades at a PEG ratio of 0.35. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Building Products - Heavy Construction stocks are, on average, holding a PEG ratio of 1.7 based on yesterday's closing prices.
The Building Products - Heavy Construction industry is part of the Construction sector. This industry, currently bearing a Zacks Industry Rank of 15, finds itself in the top 6% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Great Lakes Dredge & Dock Corporation (GLDD) : Free Stock Analysis Report
