The 10 Best Stocks of 2013 Through Q3

See how the picks stack up heading into the homestretch

      View All  
The 10 Best Stocks of 2013 Through Q3

trans The 10 Best Stocks of 2013 Through Q3#9: Great Lakes Dredge & Dock

GREATLAKES185 The 10 Best Stocks of 2013 Through Q3Q3 Return: -4%
YTD Return: 
Greg Harmon

Greg Harmon’s pick of Great Lakes Dredge & Dock (GLDD) has been consistent so far this year, but only as a member of the bottom three.

GLDD was actually the biggest Q2 gainer, lifting it out of last place. However, the stock’s 4% slide during the past three months still puts its year-to-date total return an ugly 16% in the red.

Great Lakes Dredge & Dock has been weighed down by a host of issues, including an accounting error that forced the company to restate earnings for the second and third quarters of 2012. That event led to a class-action lawsuit and a selloff.

On top of that, the company’s recent earnings report left a lot to be desired as revenue, gross profit margin and adjusted EBITDA all fell … while expenses and the company’s net loss grew.

That’s a tough turn of events for Harmon, who was banking on the dredging company’s technical strength at the start of the year.

Article printed from InvestorPlace Media,

©2015 InvestorPlace Media, LLC

Comments are currently unavailable. Please check back soon.