Back to top

Image: Bigstock

Great Lakes Dredge & Dock (GLDD) Gains But Lags Market: What You Should Know

Read MoreHide Full Article

Great Lakes Dredge & Dock (GLDD - Free Report) closed at $8.53 in the latest trading session, marking a +0.47% move from the prior day. This move lagged the S&P 500's daily gain of 1.24%. Meanwhile, the Dow gained 0.61%, and the Nasdaq, a tech-heavy index, added 1.35%.

Coming into today, shares of the provider of dredging and dock-contracting services had lost 8.32% in the past month. In that same time, the Construction sector gained 14.26%, while the S&P 500 gained 7.09%.

Wall Street will be looking for positivity from GLDD as it approaches its next earnings report date. This is expected to be August 4, 2020. The company is expected to report EPS of $0.13, down 27.78% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $161 million, down 12.88% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $1.06 per share and revenue of $738.70 million, which would represent changes of +23.26% and +3.82%, respectively, from the prior year.

Any recent changes to analyst estimates for GLDD should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. GLDD currently has a Zacks Rank of #3 (Hold).

Investors should also note GLDD's current valuation metrics, including its Forward P/E ratio of 8.01. This represents a discount compared to its industry's average Forward P/E of 10.27.

The Building Products - Heavy Construction industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 201, which puts it in the bottom 21% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.


In-Depth Zacks Research for the Tickers Above


Normally $25 each - click below to receive one report FREE:


Great Lakes Dredge Dock Corporation (GLDD) - free report >>

Published in