We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Great Lakes Dredge & Dock (GLDD) Stock Sinks As Market Gains: Here's Why
Read MoreHide Full Article
Great Lakes Dredge & Dock (GLDD - Free Report) closed the most recent trading day at $8.24, moving -0.12% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.07%. On the other hand, the Dow registered a loss of 0.13%, and the technology-centric Nasdaq increased by 0.14%.
The provider of dredging and dock-contracting services's shares have seen a decrease of 9.44% over the last month, not keeping up with the Construction sector's loss of 3.35% and the S&P 500's gain of 4.34%.
The investment community will be closely monitoring the performance of Great Lakes Dredge & Dock in its forthcoming earnings report. The company's upcoming EPS is projected at $0.03, signifying steadiness compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $165 million, up 24.37% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.72 per share and revenue of $746.93 million, indicating changes of +414.29% and +26.68%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Great Lakes Dredge & Dock. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 4% fall in the Zacks Consensus EPS estimate. Great Lakes Dredge & Dock presently features 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 11.46. This valuation marks a discount compared to its industry's average Forward P/E of 18.86.
One should further note that GLDD currently holds a PEG ratio of 0.33. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Building Products - Heavy Construction industry stood at 1.76 at the close of the market yesterday.
The Building Products - Heavy Construction industry is part of the Construction sector. This industry, currently bearing a Zacks Industry Rank of 57, finds itself in the top 23% echelons 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Great Lakes Dredge & Dock (GLDD) Stock Sinks As Market Gains: Here's Why
Great Lakes Dredge & Dock (GLDD - Free Report) closed the most recent trading day at $8.24, moving -0.12% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.07%. On the other hand, the Dow registered a loss of 0.13%, and the technology-centric Nasdaq increased by 0.14%.
The provider of dredging and dock-contracting services's shares have seen a decrease of 9.44% over the last month, not keeping up with the Construction sector's loss of 3.35% and the S&P 500's gain of 4.34%.
The investment community will be closely monitoring the performance of Great Lakes Dredge & Dock in its forthcoming earnings report. The company's upcoming EPS is projected at $0.03, signifying steadiness compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $165 million, up 24.37% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.72 per share and revenue of $746.93 million, indicating changes of +414.29% and +26.68%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Great Lakes Dredge & Dock. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 4% fall in the Zacks Consensus EPS estimate. Great Lakes Dredge & Dock presently features 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 11.46. This valuation marks a discount compared to its industry's average Forward P/E of 18.86.
One should further note that GLDD currently holds a PEG ratio of 0.33. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Building Products - Heavy Construction industry stood at 1.76 at the close of the market yesterday.
The Building Products - Heavy Construction industry is part of the Construction sector. This industry, currently bearing a Zacks Industry Rank of 57, finds itself in the top 23% echelons 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.