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.
Why the Market Dipped But Great Lakes Dredge & Dock (GLDD) Gained Today
Read MoreHide Full Article
In the latest market close, Great Lakes Dredge & Dock (GLDD - Free Report) reached $9.44, with a +0.21% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.51%. On the other hand, the Dow registered a gain of 0.2%, and the technology-centric Nasdaq decreased by 0.93%.
Shares of the provider of dredging and dock-contracting services witnessed a gain of 5.25% over the previous month, beating the performance of the Construction sector with its gain of 4.24% and the S&P 500's loss of 0.26%.
Analysts and investors alike will be keeping a close eye on the performance of Great Lakes Dredge & Dock in its upcoming earnings disclosure. The company is expected to report EPS of $0.03, unchanged from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $165 million, indicating a 24.37% growth compared to the corresponding quarter of the prior year.
GLDD's full-year Zacks Consensus Estimates are calling for earnings of $0.72 per share and revenue of $746.93 million. These results would represent year-over-year changes of +414.29% and +26.68%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Great Lakes Dredge & Dock. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Currently, Great Lakes Dredge & Dock is carrying a Zacks Rank of #3 (Hold).
Looking at valuation, Great Lakes Dredge & Dock is presently trading at a Forward P/E ratio of 13.08. For comparison, its industry has an average Forward P/E of 21.05, which means Great Lakes Dredge & Dock is trading at a discount to the group.
We can additionally observe that GLDD currently boasts a PEG ratio of 0.37. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Building Products - Heavy Construction industry had an average PEG ratio of 2.05 as trading concluded yesterday.
The Building Products - Heavy Construction industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 105, placing it within the top 42% of over 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Why the Market Dipped But Great Lakes Dredge & Dock (GLDD) Gained Today
In the latest market close, Great Lakes Dredge & Dock (GLDD - Free Report) reached $9.44, with a +0.21% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.51%. On the other hand, the Dow registered a gain of 0.2%, and the technology-centric Nasdaq decreased by 0.93%.
Shares of the provider of dredging and dock-contracting services witnessed a gain of 5.25% over the previous month, beating the performance of the Construction sector with its gain of 4.24% and the S&P 500's loss of 0.26%.
Analysts and investors alike will be keeping a close eye on the performance of Great Lakes Dredge & Dock in its upcoming earnings disclosure. The company is expected to report EPS of $0.03, unchanged from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $165 million, indicating a 24.37% growth compared to the corresponding quarter of the prior year.
GLDD's full-year Zacks Consensus Estimates are calling for earnings of $0.72 per share and revenue of $746.93 million. These results would represent year-over-year changes of +414.29% and +26.68%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Great Lakes Dredge & Dock. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Currently, Great Lakes Dredge & Dock is carrying a Zacks Rank of #3 (Hold).
Looking at valuation, Great Lakes Dredge & Dock is presently trading at a Forward P/E ratio of 13.08. For comparison, its industry has an average Forward P/E of 21.05, which means Great Lakes Dredge & Dock is trading at a discount to the group.
We can additionally observe that GLDD currently boasts a PEG ratio of 0.37. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Building Products - Heavy Construction industry had an average PEG ratio of 2.05 as trading concluded yesterday.
The Building Products - Heavy Construction industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 105, placing it within the top 42% of over 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.