8/25/2023 0 Comments Great lakes dredge and dock stock![]() You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. So, the shares are expected to perform in line with the market in the near future. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.Īhead of this earnings release, the estimate revisions trend for Great Lakes Dredge & Dock was mixed. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.Įmpirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. While Great Lakes Dredge & Dock has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? What's Next for Great Lakes Dredge & Dock? Great Lakes Dredge & Dock shares have added about 17.5% since the beginning of the year versus the S&P 500's gain of 4.8%. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. The company has topped consensus revenue estimates just once over the last four quarters. This compares to year-ago revenues of $164.30 million. Great Lakes Dredge & Dock, which belongs to the Zacks Building Products - Heavy Construction industry, posted revenues of $172.15 million for the quarter ended December 2020, missing the Zacks Consensus Estimate by 8.92%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. A quarter ago, it was expected that this provider of dredging and dock-contracting services would post earnings of $0.17 per share when it actually produced earnings of $0.19, delivering a surprise of 11.76%. ![]() This quarterly report represents an earnings surprise of -20%. ![]() These figures are adjusted for non-recurring items. This compares to earnings of $0.23 per share a year ago. Great Lakes Dredge & Dock ( GLDD Quick Quote GLDD - Free Report) came out with quarterly earnings of $0.16 per share, missing the Zacks Consensus Estimate of $0.20 per share.
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