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Great Lakes Dredge & Dock (GLDD) Stock Sinks As Market Gains: Here's Why
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In the latest close session, Great Lakes Dredge & Dock (GLDD - Free Report) was down 2.16% at $15.41. This change lagged the S&P 500's daily gain of 0.03%. On the other hand, the Dow registered a loss of 0.58%, and the technology-centric Nasdaq increased by 0.28%.
The provider of dredging and dock-contracting services's shares have seen an increase of 16.41% over the last month, surpassing the Construction sector's gain of 6.96% and the S&P 500's gain of 0.6%.
The investment community will be paying close attention to the earnings performance of Great Lakes Dredge & Dock in its upcoming release. On that day, Great Lakes Dredge & Dock is projected to report earnings of $0.21 per share, which would represent a year-over-year decline of 27.59%. In the meantime, our current consensus estimate forecasts the revenue to be $219.45 million, indicating a 8.23% growth compared to the corresponding quarter of the prior year.
GLDD's full-year Zacks Consensus Estimates are calling for earnings of $1.11 per share and revenue of $851.26 million. These results would represent year-over-year changes of +32.14% and 0%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Great Lakes Dredge & Dock. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 remained unchanged. Great Lakes Dredge & Dock is currently sporting a Zacks Rank of #3 (Hold).
With respect to valuation, Great Lakes Dredge & Dock is currently being traded at a Forward P/E ratio of 13.9. Its industry sports an average Forward P/E of 25.64, so one might conclude that Great Lakes Dredge & Dock is trading at a discount comparatively.
One should further note that GLDD currently holds a PEG ratio of 1.16. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Building Products - Heavy Construction industry held an average PEG ratio of 2.
The Building Products - Heavy Construction industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 188, which puts it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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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Great Lakes Dredge & Dock (GLDD) Stock Sinks As Market Gains: Here's Why
In the latest close session, Great Lakes Dredge & Dock (GLDD - Free Report) was down 2.16% at $15.41. This change lagged the S&P 500's daily gain of 0.03%. On the other hand, the Dow registered a loss of 0.58%, and the technology-centric Nasdaq increased by 0.28%.
The provider of dredging and dock-contracting services's shares have seen an increase of 16.41% over the last month, surpassing the Construction sector's gain of 6.96% and the S&P 500's gain of 0.6%.
The investment community will be paying close attention to the earnings performance of Great Lakes Dredge & Dock in its upcoming release. On that day, Great Lakes Dredge & Dock is projected to report earnings of $0.21 per share, which would represent a year-over-year decline of 27.59%. In the meantime, our current consensus estimate forecasts the revenue to be $219.45 million, indicating a 8.23% growth compared to the corresponding quarter of the prior year.
GLDD's full-year Zacks Consensus Estimates are calling for earnings of $1.11 per share and revenue of $851.26 million. These results would represent year-over-year changes of +32.14% and 0%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Great Lakes Dredge & Dock. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 remained unchanged. Great Lakes Dredge & Dock is currently sporting a Zacks Rank of #3 (Hold).
With respect to valuation, Great Lakes Dredge & Dock is currently being traded at a Forward P/E ratio of 13.9. Its industry sports an average Forward P/E of 25.64, so one might conclude that Great Lakes Dredge & Dock is trading at a discount comparatively.
One should further note that GLDD currently holds a PEG ratio of 1.16. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Building Products - Heavy Construction industry held an average PEG ratio of 2.
The Building Products - Heavy Construction industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 188, which puts it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.