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Is Great Lakes Dredge & Dock (GLDD) Stock Outpacing Its Construction Peers This Year?
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For those looking to find strong Construction stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Great Lakes Dredge & Dock (GLDD - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Great Lakes Dredge & Dock is a member of the Construction sector. This group includes 91 individual stocks and currently holds a Zacks Sector Rank of #4. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Great Lakes Dredge & Dock is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for GLDD's full-year earnings has moved 11.1% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, GLDD has moved about 36.3% on a year-to-date basis. Meanwhile, the Construction sector has returned an average of 24.5% on a year-to-date basis. This means that Great Lakes Dredge & Dock is outperforming the sector as a whole this year.
Tutor Perini (TPC - Free Report) is another Construction stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 184%.
For Tutor Perini, the consensus EPS estimate for the current year has increased 1.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Great Lakes Dredge & Dock belongs to the Building Products - Heavy Construction industry, a group that includes 10 individual stocks and currently sits at #14 in the Zacks Industry Rank. On average, stocks in this group have gained 76.4% this year, meaning that GLDD is slightly underperforming its industry in terms of year-to-date returns. Tutor Perini is also part of the same industry.
Investors interested in the Construction sector may want to keep a close eye on Great Lakes Dredge & Dock and Tutor Perini as they attempt to continue their solid performance.
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Is Great Lakes Dredge & Dock (GLDD) Stock Outpacing Its Construction Peers This Year?
For those looking to find strong Construction stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Great Lakes Dredge & Dock (GLDD - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Great Lakes Dredge & Dock is a member of the Construction sector. This group includes 91 individual stocks and currently holds a Zacks Sector Rank of #4. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Great Lakes Dredge & Dock is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for GLDD's full-year earnings has moved 11.1% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, GLDD has moved about 36.3% on a year-to-date basis. Meanwhile, the Construction sector has returned an average of 24.5% on a year-to-date basis. This means that Great Lakes Dredge & Dock is outperforming the sector as a whole this year.
Tutor Perini (TPC - Free Report) is another Construction stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 184%.
For Tutor Perini, the consensus EPS estimate for the current year has increased 1.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Great Lakes Dredge & Dock belongs to the Building Products - Heavy Construction industry, a group that includes 10 individual stocks and currently sits at #14 in the Zacks Industry Rank. On average, stocks in this group have gained 76.4% this year, meaning that GLDD is slightly underperforming its industry in terms of year-to-date returns. Tutor Perini is also part of the same industry.
Investors interested in the Construction sector may want to keep a close eye on Great Lakes Dredge & Dock and Tutor Perini as they attempt to continue their solid performance.