Great Lakes Dredge & Dock (GLDD - Free Report) closed the most recent trading day at $10.71, moving +0.75% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.08%. Elsewhere, the Dow lost 0.07%, while the tech-heavy Nasdaq lost 0.59%.
Prior to today's trading, shares of the provider of dredging and dock-contracting services had gained 1.72% over the past month. This has lagged the Construction sector's gain of 5.26% and the S&P 500's gain of 2.7% in that time.
GLDD will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.13, down 27.78% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for GLDD. 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 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. GLDD is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, GLDD is currently trading at a Forward P/E ratio of 14.36. This valuation marks a premium compared to its industry's average Forward P/E of 12.54.
The Building Products - Heavy Construction industry is part of the Construction sector. This group has a Zacks Industry Rank of 27, putting it in the top 11% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.