The latest trading session saw Great Lakes Dredge & Dock (GLDD) ending at $12.07, denoting a -0.82% adjustment from its last day's close. This change lagged the S&P 500's daily gain of 0.53%. Elsewhere, the Dow gained 0.93%, while the tech-heavy Nasdaq added 0.22%.

Shares of the provider of dredging and dock-contracting services have appreciated by 4.55% over the course of the past month, underperforming the Construction sector's gain of 4.6% and outperforming the S&P 500's gain of 2.69%.

The investment community will be closely monitoring the performance of Great Lakes Dredge & Dock in its forthcoming earnings report. The company is expected to report EPS of $0.21, down 16% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $211.8 million, up 16.55% from the year-ago period.

Investors should also note any recent changes to analyst estimates for Great Lakes Dredge & Dock. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Great Lakes Dredge & Dock is holding a Zacks Rank of #3 (Hold) right now.

Digging into valuation, Great Lakes Dredge & Dock currently has a Forward P/E ratio of 13.83. Its industry sports an average Forward P/E of 19.06, so one might conclude that Great Lakes Dredge & Dock is trading at a discount comparatively.

Investors should also note that GLDD has a PEG ratio of 0.4 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Building Products - Heavy Construction industry held an average PEG ratio of 1.36.

The Building Products - Heavy Construction industry is part of the Construction sector. This group has a Zacks Industry Rank of 172, putting it in the bottom 32% of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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