Great Lakes Dredge & Dock (GLDD) closed the latest trading day at $11.15, indicating a +1.55% change from the previous session's end. The stock exceeded the S&P 500, which registered a gain of 0.53% for the day. Elsewhere, the Dow gained 0.38%, while the tech-heavy Nasdaq added 0.25%.
The provider of dredging and dock-contracting services's stock has dropped by 2.75% in the past month, falling short of the Construction sector's loss of 0.13% and the S&P 500's gain of 1.24%.
Market participants will be closely following the financial results of Great Lakes Dredge & Dock in its upcoming release. The company is predicted to post an EPS of $0.21, indicating a 16% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $211.8 million, up 16.55% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Great Lakes Dredge & Dock. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding 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 sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Great Lakes Dredge & Dock is presently being traded at a Forward P/E ratio of 12.48. This valuation marks a discount compared to its industry's average Forward P/E of 16.8.
It's also important to note that GLDD currently trades at a PEG ratio of 0.36. 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. As of the close of trade yesterday, the Building Products - Heavy Construction industry held an average PEG ratio of 1.24.
The Building Products - Heavy Construction industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 172, placing it within the bottom 32% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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