Great Lakes Dredge & Dock (GLDD) closed at $10.11 in the latest trading session, marking a -0.2% move from the prior day. This change lagged the S&P 500's 0% on the day. Elsewhere, the Dow lost 0.19%, while the tech-heavy Nasdaq added 0.07%.
Prior to today's trading, shares of the provider of dredging and dock-contracting services had lost 7.83% over the past month. This has lagged the Construction sector's gain of 7.57% and the S&P 500's gain of 4.25% in that time.
Investors will be hoping for strength from GLDD as it approaches its next earnings release. The company is expected to report EPS of $0.13, down 27.78% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for GLDD. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 2.78% higher. GLDD is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note GLDD's current valuation metrics, including its Forward P/E ratio of 13.69. For comparison, its industry has an average Forward P/E of 12.2, which means GLDD is trading at a premium to the group.
The Building Products - Heavy Construction industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 155, which puts it in the bottom 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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