Movers and SHAKERS
Great Lakes Dredge & Dock (GLDD)
Large Award Sets Tone for Upcoming Bidding Season
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.
Large award in New York out. Late Friday, a $47.5 million award (W912DS21C0018) was posted on the DoD web site. GLDD was one of two bidders for work to be performed in New York, New York, with an estimated completion date of March 31, 2022. We don't have any additional details, but the short-term work helps fill the near-term pipeline.
Dredging market outlook remains solid and potential infrastructure spending creates a tailwind. After falling again in 2Q2021 to $454 million from $486 million in 1Q2021 and $559 million in 4Q2020, recent awards have been secured and we remain positive on the dredging market outlook. 3Q2021 bidding activity is off to a good start with potential 3Q2021 awards currently in the $251 million range. Bids on several other projects are slated for ...
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.