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Great Lakes Dredge & Dock (GLDD) Outpaces Stock Market Gains: What You Should Know
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Great Lakes Dredge & Dock (GLDD - Free Report) closed the most recent trading day at $11.41, moving +1.88% from the previous trading session. This change outpaced the S&P 500's 0.23% gain on the day. Meanwhile, the Dow gained 0.85%, and the Nasdaq, a tech-heavy index, lost 0.08%.
Prior to today's trading, shares of the provider of dredging and dock-contracting services had gained 4.28% over the past month. This has outpaced the Construction sector's gain of 0.8% and the S&P 500's gain of 3.84% in that time.
Wall Street will be looking for positivity from GLDD as it approaches its next earnings report date. On that day, GLDD is projected to report earnings of $0.12 per share, which would represent year-over-year growth of 700%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $207.50 million, up 37.79% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.68 per share and revenue of $747.50 million, which would represent changes of +300% and +10.78%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for GLDD. 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 shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. GLDD is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that GLDD has a Forward P/E ratio of 16.47 right now. This valuation marks a premium compared to its industry's average Forward P/E of 11.91.
The Building Products - Heavy Construction industry is part of the Construction sector. This group has a Zacks Industry Rank of 158, 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Great Lakes Dredge & Dock (GLDD) Outpaces Stock Market Gains: What You Should Know
Great Lakes Dredge & Dock (GLDD - Free Report) closed the most recent trading day at $11.41, moving +1.88% from the previous trading session. This change outpaced the S&P 500's 0.23% gain on the day. Meanwhile, the Dow gained 0.85%, and the Nasdaq, a tech-heavy index, lost 0.08%.
Prior to today's trading, shares of the provider of dredging and dock-contracting services had gained 4.28% over the past month. This has outpaced the Construction sector's gain of 0.8% and the S&P 500's gain of 3.84% in that time.
Wall Street will be looking for positivity from GLDD as it approaches its next earnings report date. On that day, GLDD is projected to report earnings of $0.12 per share, which would represent year-over-year growth of 700%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $207.50 million, up 37.79% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.68 per share and revenue of $747.50 million, which would represent changes of +300% and +10.78%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for GLDD. 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 shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. GLDD is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that GLDD has a Forward P/E ratio of 16.47 right now. This valuation marks a premium compared to its industry's average Forward P/E of 11.91.
The Building Products - Heavy Construction industry is part of the Construction sector. This group has a Zacks Industry Rank of 158, 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.
You can find more information on all of these metrics, and much more, on Zacks.com.