Movers and SHAKERS
Great Lakes Dredge & Dock (GLDD)
Large Low Bid Pending Award and 3Q2021 Awards Announced
Great Lakes Dredge & Dock Corp is a provider of dredging services in the United States. The company only's operating segments is Dredging. Dredging involves the enhancement or preservation of navigability of waterways or the protection of shorelines through the removal or replenishment of soil, sand or rock. Its projects portfolio includes Coastal Restoration, Coastal Protection, Port expansion, and others.
Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
New low bid pending award of $47.7 million for work on the Jersey shore moves potential 3Q2021 awards into the $308 million range. GLDD was recently low bidder on the Sandy Hook to Barnegat Inlet Beach Erosion Control Project Section II (W912DS21B0015) at $47.7 million, or $15.9 million below the other bid of $63.6 million submitted by Weeks Marine.
Announced 3Q2021 awards currently in the $261 million range, but potential awards exceed $308 million. Dredging market outlook remains solid and potential infrastructure spending creates a tailwind. Bidding has been active, and announced 3Q2021 awards of $261.3 million yesterday is positive. As highlighted above, GLDD was also low bidder on the Sandy Hook to Barnegat Inlet Beach erosion control ...
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.