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Great Lakes Dredge & Dock (GLDD) Stock Falls Amid Market Uptick: What Investors Need to Know
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Great Lakes Dredge & Dock (GLDD - Free Report) closed at $11.52 in the latest trading session, marking a -1.62% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.27%. On the other hand, the Dow registered a gain of 0.65%, and the technology-centric Nasdaq increased by 0.26%.
Coming into today, shares of the provider of dredging and dock-contracting services had gained 11.84% in the past month. In that same time, the Construction sector lost 2.03%, while the S&P 500 gained 2%.
The investment community will be closely monitoring the performance of Great Lakes Dredge & Dock in its forthcoming earnings report. The company is forecasted to report an EPS of $0.18, showcasing a 300% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $180.8 million, indicating a 54.28% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.80 per share and a revenue of $749.53 million, representing changes of +471.43% and +27.12%, respectively, from the prior year.
Any recent changes to analyst estimates for Great Lakes Dredge & Dock should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Great Lakes Dredge & Dock is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Great Lakes Dredge & Dock is currently exchanging hands at a Forward P/E ratio of 14.64. This valuation marks a discount compared to its industry's average Forward P/E of 20.16.
It is also worth noting that GLDD currently has a PEG ratio of 0.42. 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. GLDD's industry had an average PEG ratio of 2.17 as of yesterday's close.
The Building Products - Heavy Construction industry is part of the Construction sector. This group has a Zacks Industry Rank of 154, putting it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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 (GLDD) Stock Falls Amid Market Uptick: What Investors Need to Know
Great Lakes Dredge & Dock (GLDD - Free Report) closed at $11.52 in the latest trading session, marking a -1.62% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.27%. On the other hand, the Dow registered a gain of 0.65%, and the technology-centric Nasdaq increased by 0.26%.
Coming into today, shares of the provider of dredging and dock-contracting services had gained 11.84% in the past month. In that same time, the Construction sector lost 2.03%, while the S&P 500 gained 2%.
The investment community will be closely monitoring the performance of Great Lakes Dredge & Dock in its forthcoming earnings report. The company is forecasted to report an EPS of $0.18, showcasing a 300% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $180.8 million, indicating a 54.28% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.80 per share and a revenue of $749.53 million, representing changes of +471.43% and +27.12%, respectively, from the prior year.
Any recent changes to analyst estimates for Great Lakes Dredge & Dock should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Great Lakes Dredge & Dock is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Great Lakes Dredge & Dock is currently exchanging hands at a Forward P/E ratio of 14.64. This valuation marks a discount compared to its industry's average Forward P/E of 20.16.
It is also worth noting that GLDD currently has a PEG ratio of 0.42. 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. GLDD's industry had an average PEG ratio of 2.17 as of yesterday's close.
The Building Products - Heavy Construction industry is part of the Construction sector. This group has a Zacks Industry Rank of 154, putting it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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.