In the latest market close, Great Lakes Dredge & Dock (GLDD) reached $11.77, with a +0.86% movement compared to the previous day. This change lagged the S&P 500's 1.83% gain on the day. Elsewhere, the Dow gained 1.65%, while the tech-heavy Nasdaq added 2.45%.

Shares of the provider of dredging and dock-contracting services have depreciated by 1.77% over the course of the past month, outperforming the Construction sector's loss of 6.05% and the S&P 500's loss of 3.31%.

The investment community will be closely monitoring the performance of Great Lakes Dredge & Dock in its forthcoming earnings report. On that day, Great Lakes Dredge & Dock is projected to report earnings of $0.21 per share, which would represent a year-over-year decline of 16%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $211.8 million, up 16.55% from the year-ago period.

It is also important to note the recent changes to analyst estimates for Great Lakes Dredge & Dock. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, Great Lakes Dredge & Dock holds a Zacks Rank of #3 (Hold).

Looking at its valuation, Great Lakes Dredge & Dock is holding a Forward P/E ratio of 13.26. This signifies a discount in comparison to the average Forward P/E of 17.92 for its industry.

Investors should also note that GLDD has a PEG ratio of 0.38 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Building Products - Heavy Construction industry was having an average PEG ratio of 1.23.

The Building Products - Heavy Construction industry is part of the Construction sector. With its current Zacks Industry Rank of 153, this industry ranks in the bottom 40% of all industries, numbering over 250.

The Zacks Industry Rank is ordered 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.

You can find more information on all of these metrics, and much more, on Zacks.com.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Great Lakes Dredge & Dock Corporation (GLDD) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research