Movers and SHAKERS
Great Lakes Dredge & Dock (GLDD)
Positive Outlook Drives Up Price Target
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.
- 2H2019 Backlog rebound remains likely. Since the start of 3Q2019, total low bids equal ~$91 million and most of the awards should be announced shortly. ~$110 million of low bids not awarded in 2Q2019 includes $93 million of option work in Jacksonville.
- Introducing 2020 EBITDA estimate of $140.5 million, up from $131.2 million in 2019. The outlook into next year appears positive with continued high bidding activity on port/channel deepening projects 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.