Movers and SHAKERS
Wednesday, April 1, 2020
Great Lakes Dredge & Dock (GLDD)
Volatile Quarter But Favorable Outlook Intact
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.
No change in dredging market outlook We believe that the widespread disruption caused by the Coronavirus will have a minimal impact since dredging is defined as an essential service, per advisories from the Department of Homeland Security (DHS).
Adjusting year to date awards to $71.6 million. Our previous note included a $14 million job that was awarded at year-end 2019, not this year. More than $100 million of low bids pending award remain outstanding, and the next phase of stimulus seems likely to be...
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.