Great Lakes Dredge & Dock (GLDD) came out with quarterly earnings of $0.11 per share, beating the Zacks Consensus Estimate of $0.03 per share. This compares to earnings of $0.03 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 266.67%. A quarter ago, it was expected that this provider of dredging and dock-contracting services would post earnings of $0.06 per share when it actually produced earnings of $0.31, delivering a surpr ...

Second quarter net income of $7.7 million Second quarter adjusted EBITDA of $25.8 million Dredging backlog of $807.9 million at June 30, 2024 HOUSTON, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Great Lakes Dredge & Dock Corporation ("Great Lakes" or the "Company") (Nasdaq: GLDD), the largest provider of dredging services in the United States, today reported financial results for the second quarter ended June 30, 2024. Second Quarter 2024 Highlights Revenue was $170.1 million Total operating income was $14.6 million ...

Second quarter net income of $7.7 million Second quarter adjusted EBITDA of $25.8 million Dredging backlog of $807.9 million at June 30, 2024 HOUSTON, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Great Lakes Dredge & Dock Corporation ("Great Lakes" or the "Company") (Nasdaq: GLDD), the largest provider of dredging services in the United States, today reported financial results for the second quarter ended June 30, 2024. Second Quarter 2024 Highlights Revenue was $170.1 million Total operating income was $14.6 million ...

Great Lakes Dredge & Dock (GLDD) closed at $9.46 in the latest trading session, marking a +0.21% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 1.11%. Meanwhile, the Dow experienced a rise of 1.64%, and the technology-dominated Nasdaq saw an increase of 1.03%. Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estim ...

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%. 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. Empirical research indicates that these revisions in estimates have a direct c ...

Core Insights - The primary purpose of a business is to generate profits for reinvestment or shareholder rewards, with net profit margin being a key metric for measuring profitability [1][5][19] Company Analysis - Virco Manufacturing designs, produces, and distributes quality furniture for contract and education markets globally, holding a Zacks Rank 1 and a VGM Score of A [4] - HNI Corporation is a leading global provider and designer of office furniture, currently holding a Zacks Rank 2 and a VGM Score of A [26] - Great Lakes Dredge & Dock is the largest provider of dredging services in the U.S., with a Zacks Rank of 2 and a VGM Score of A [27] - Teekay Tankers specializes in international marine transportation of crude oil, currently holding a Zacks Rank of 2 and a VGM Score of B [28] Financial Metrics - A higher net profit margin indicates a company's efficiency in converting sales into actual profits, providing insights into operational strength and cost control [5][6][8] - The Zacks Consensus Estimate for Virco Manufacturing's fiscal 2025 earnings has increased by 16.3% to $1.86 per share, with an average surprise of 74.9% over the last four quarters [13] - HNI's 2024 earnings estimate remains at $3.10 per share, with an average surprise of 67.5% in the last four quarters [14] - Great Lakes Dredge & Dock's 2024 earnings estimate is unchanged at 72 cents per share, with an average surprise of 184.3% [15] - Teekay Tankers' 2024 earnings estimate has been revised upward by 3 cents to $14.70 per share, with an average negative surprise of 6.3% [16] Investment Strategy - Stocks with a Zacks Rank of 1 or 2 and a VGM Score of A or B are identified as having the best upside potential [12][24] - The screening process identified four stocks—Virco Manufacturing, HNI, Great Lakes Dredge & Dock, and Teekay Tankers—from a larger pool of 20 stocks [25]

The trend often reverses before exiting the trade, leading to a short-term capital loss for investors. So, for a profitable trade, one should confirm factors such as sound fundamentals, positive earnings estimate revisions, etc. that could keep the momentum in the stock alive. A solid price increase over a period of 12 weeks reflects investors' continued willingness to pay more for the potential upside in a stock. GLDD is quite a good fit in this regard, gaining 23.5% over this period. Looking at the fundam ...

The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks. Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at ...

Company Performance - Great Lakes Dredge & Dock (GLDD) closed at $8.24, a decrease of -0.12% from the previous trading session, underperforming the S&P 500 which gained 0.07% [1] - The upcoming earnings report is projected to show an EPS of $0.03, indicating stability compared to the same quarter last year, with expected quarterly revenue of $165 million, up 24.37% year-over-year [2] - Over the last month, GLDD shares have decreased by 9.44%, contrasting with the Construction sector's loss of 3.35% and the S&P 500's gain of 4.34% [6] Analyst Estimates and Rankings - Recent modifications to analyst estimates reflect shifting business dynamics, with upward revisions indicating positive sentiment towards the company's operations [3] - The Zacks Rank system currently places GLDD at 3 (Hold), with a 4% decline in the Zacks Consensus EPS estimate over the past month [4] - The Zacks Consensus Estimates forecast earnings of $0.72 per share and revenue of $746.93 million for the year, representing increases of +414.29% and +26.68% respectively compared to the previous year [7] Valuation Metrics - GLDD has a PEG ratio of 0.33, significantly lower than the industry average PEG ratio of 1.76, indicating potential undervaluation relative to expected earnings growth [9] - The company is currently traded at a Forward P/E ratio of 11.46, which is a discount compared to the industry's average Forward P/E of 18.86 [11] Industry Context - The Building Products - Heavy Construction industry is part of the Construction sector and holds a Zacks Industry Rank of 57, placing it in the top 23% of over 250 industries [5] - Research indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1, highlighting the competitive landscape within the industry [12]

Great Lakes Dredge & Dock (GLDD) closed at $8.89 in the latest trading session, marking a +0.79% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.31%. On the other hand, the Dow registered a gain of 0.67%, and the technology-centric Nasdaq decreased by 1.09%. The the stock of provider of dredging and dock-contracting services has fallen by 4.13% in the past month, leading the Construction sector's loss of 4.24% and undershooting the S&P 500's gain of 2.73%. Looking at the full year, ...