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Great Lakes Dredge & Dock (GLDD) Surpasses Market Returns: Some Facts Worth Knowing
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Great Lakes Dredge & Dock (GLDD - Free Report) closed the most recent trading day at $11.98, moving +1.61% from the previous trading session. The stock's change was more than the S&P 500's daily gain of 0.3%. On the other hand, the Dow registered a loss of 0.48%, and the technology-centric Nasdaq increased by 0.03%.
Prior to today's trading, shares of the provider of dredging and dock-contracting services had gained 3.51% outpaced the Construction sector's gain of 2.49% and the S&P 500's gain of 2.09%.
Market participants will be closely following the financial results of Great Lakes Dredge & Dock in its upcoming release. The company's earnings per share (EPS) are projected to be $0.17, reflecting a 30.77% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $197.6 million, reflecting a 3.36% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.02 per share and revenue of $831.51 million, indicating changes of +21.43% and +9.02%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in 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 business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 past month, the Zacks Consensus EPS estimate has shifted 2.53% upward. Currently, Great Lakes Dredge & Dock is carrying a Zacks Rank of #1 (Strong Buy).
With respect to valuation, Great Lakes Dredge & Dock is currently being traded at a Forward P/E ratio of 11.62. For comparison, its industry has an average Forward P/E of 24.01, which means Great Lakes Dredge & Dock is trading at a discount to the group.
It is also worth noting that GLDD currently has a PEG ratio of 0.97. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Building Products - Heavy Construction industry was having an average PEG ratio of 1.79.
The Building Products - Heavy Construction industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 10, which puts it in the top 5% 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.
To follow GLDD in the coming trading sessions, be sure to utilize Zacks.com.
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Great Lakes Dredge & Dock (GLDD) Surpasses Market Returns: Some Facts Worth Knowing
Great Lakes Dredge & Dock (GLDD - Free Report) closed the most recent trading day at $11.98, moving +1.61% from the previous trading session. The stock's change was more than the S&P 500's daily gain of 0.3%. On the other hand, the Dow registered a loss of 0.48%, and the technology-centric Nasdaq increased by 0.03%.
Prior to today's trading, shares of the provider of dredging and dock-contracting services had gained 3.51% outpaced the Construction sector's gain of 2.49% and the S&P 500's gain of 2.09%.
Market participants will be closely following the financial results of Great Lakes Dredge & Dock in its upcoming release. The company's earnings per share (EPS) are projected to be $0.17, reflecting a 30.77% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $197.6 million, reflecting a 3.36% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.02 per share and revenue of $831.51 million, indicating changes of +21.43% and +9.02%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in 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 business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 past month, the Zacks Consensus EPS estimate has shifted 2.53% upward. Currently, Great Lakes Dredge & Dock is carrying a Zacks Rank of #1 (Strong Buy).
With respect to valuation, Great Lakes Dredge & Dock is currently being traded at a Forward P/E ratio of 11.62. For comparison, its industry has an average Forward P/E of 24.01, which means Great Lakes Dredge & Dock is trading at a discount to the group.
It is also worth noting that GLDD currently has a PEG ratio of 0.97. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Building Products - Heavy Construction industry was having an average PEG ratio of 1.79.
The Building Products - Heavy Construction industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 10, which puts it in the top 5% 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.
To follow GLDD in the coming trading sessions, be sure to utilize Zacks.com.