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Tuesday, March 3, 2020
Great Lakes Dredge & Dock (GLDD)
New Awards Reinforce Positive Outlook
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.
Awards of $71.6 million announced, including new awards of $40.8 million. YTD awards now total ~$85.5 million and low bids pending award are now ~$110 million. Awards ~$31 million were previously disclosed but not identified.
Larger projects are on horizon and 2H2020 backlog rebound likely. News expected on Corpus Christi RFP and Brownsville LNG work by end of 1Q2020 and Jacksonville C in 3Q/4Q2020. Major work in...
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.