Sponsored By:

The 10 Best Stocks of 2013 Through Q3

See how the picks stack up heading into the homestretch

      View All  

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: 
-17%
Investor: 
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, http://investorplace.com/2013/09/10-best-stocks-of-2013-through-q3/.

©2014 InvestorPlace Media, LLC

Comments are currently unavailable. Please check back soon.