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New York, NY -- (SBWIRE) -- 03/20/2013 -- StockRunway.com issues special report on the Downbeat Heavy Construction Stocks – Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD), MasTec, Inc.(NYSE:MTZ), Fluor Corporation (NYSE:FLR)
Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) lost -3.71% with the closing price of $7.01 after Barclays reduced its price target on the stock to $9 from $10. The stock extended fall after saying that it will restate its second- and third-quarter results because of problems with the way it recorded revenue. It also declared the exit of its president and chief operating officer.
It mistakenly recorded some orders as revenue that were actually not finalized, resulting in overstatement of the second-quarter revenue by $3.9 million and third-quarter revenue by $4.3 million. The company said another $5.6 million in fourth-quarter revenue was not in accordance with its standards. The company also anticipates reporting additional expenses of $1.3 million for the second quarter and $900,000 for the third quarter related to the cost of preparing vessels for a project in Australia.
Has GLDD Found The Bottom and Ready To Move Up? Find Out Here
The overall volume in the last trading session was 2.33 million shares. Its fifty two week range was $6.14-$10.07. The total market capitalization remained $415.55million. The stock is ahead its 52 week low with 17.73% and its last month price volatility remained 4.15%. Its beta coefficient was 1.83 with a target price of $9.13.
In its share capital, the company has 59.28 million outstanding shares while 55.73 million shares have been floated in market. It has insider ownership of 0.57% with institutional ownership remained 90.11%. Earnings per share this year dropped-52.53% while the five year EPS growth rate was +21.42%.
MasTec, Inc.(NYSE:MTZ) slipped -3.05% and closed at $28.90 in the last trading session with the overall traded volume of 1.85 million shares, more versus the average volume of 940,058 shares. The decline was seen after it called for redemption of all of its outstanding 7.625% senior notes due 2017 (the "2017 Notes") not purchased in its formerly declared tender offer, with a redemption date of April 1, 2013 (the "Redemption Date").
Its 52 weeks high price was $31.47 and suffered lowest price of $12.86 in the same period. MTZ has current ratio of 1.48 and its total debt-to-equity ratio is 0.70. It has market cap of $2.21 billion while its total outstanding shares are 76.60 million. The stock beta value stands at 1.40 times.
Has MTZ Found The Bottom And Ready To Gain Momentum? Find Out Here
Fluor Corporation (NYSE:FLR) declined -0.08% with the closing price of $63.50. The company is set to participate at BB&T Commercial and Industrial Conference on Thursday at 11:45AM EDT.
The overall volume in the last trading session was 1.38 million shares. Its fifty two week range was $44.99-$66.67. The total market capitalization remained $10.32 billion.
Why Should Investors Buy FLR After the Recent Fall? Just Go Here and Find Out
FLR is ahead its 52 week low with 42.37% and its last month price volatility remained 2.27%. Its beta coefficient was 1.43 with a target price of $74.82. In its share capital, the company has 162.84million outstanding shares while 162.01million shares have been floated in market. It has insider ownership of 0.38% with its institutional ownership remained 86.19%. EPS this year plunged-20.37% while the five year EPS growth rate was -1.23%.
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