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Thurday, November 21, 2019
Great Lakes Dredge & Dock (GLDD)
Investor Meetings Renew Confidence
Great Lakes Dredge & Dock is a marine and environmental infrastructure contractor, and the largest dredging company in the United States. Headquartered in suburban Chicago, the company provides port expansion and maintenance, coastal restoration, river dredging and environmental restoration for public and private entities worldwide. In June 2019, the Environmental & industrial (E&I) business was sold for $17.5 million in cash and the company is now pure play on the dredging market.
Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to full report for price target, fundamental analysis and rating.
- Tone was positive. Recently, we hosted investor meetings with the CEO and CFO. The meetings touched on every aspect of the dredging market and focused on how restructuring and deleveraging have positioned the company to capitalize on the positive outlook and pursue growth opportunities. We walked away with renewed confidence in the macro/micro outlook.
- Favorable dredging outlook over next three years. Competitive pressures after the
Panama Canal widening have driven East Coast ports to deepen, and the energy export wave is driving more work along Gulf Coast. Coastal protection and...
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 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.