In the latest trading session, Great Lakes Dredge & Dock (GLDD - Free Report) closed at $10.18, marking a +1.9% move from the previous day. This move outpaced the S&P 500's daily loss of 0.07%. At the same time, the Dow added 0.14%, and the tech-heavy Nasdaq lost 0.22%.
Prior to today's trading, shares of the provider of dredging and dock-contracting services had lost 1.38% over the past month. This has lagged the Construction sector's gain of 8.17% and the S&P 500's gain of 4.58% 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 $0.13 per share, which would represent a year-over-year decline of 27.78%.
It is also important to note the recent changes to analyst estimates for GLDD. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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 has moved 2.78% higher within the past month. GLDD is currently a Zacks Rank #1 (Strong Buy).
Valuation is also important, so investors should note that GLDD has a Forward P/E ratio of 13.5 right now. Its industry sports an average Forward P/E of 11.95, so we one might conclude that GLDD is trading at a premium comparatively.
The Building Products - Heavy Construction industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 102, which puts it in the top 40% 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.
To follow GLDD in the coming trading sessions, be sure to utilize Zacks.com.