It hasn’t been a great start to the week for the S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) with the benchmark index losing 0.25% to 5,791 points.
Most sectors are struggling today, although the biggest falls have come from the energy and industrials sectors.
A number of shares have been hammered on the back of disappointing profit results, including:
Brambles Limited (ASX: BXB)
The Brambles share price has plunged more than 10% today after the pallet company reported flat first-half profits. In addition to the weak result, Brambles also said it expects full year earnings to remain flat as its North American division faces higher costs and increasing competition. Unfortunately, this is the second time in the space of just one month that the company has disappointed the market with a much weaker-than-expected announcement.
CSG Limited (ASX: CSV)
The CSG share price has fallen more than 30% today after the print and equipment leasing company announced another disappointing result. Unfortunately, revenue growth and cost management continue to remain a challenge for its core Business Solutions segment, and this has seen overall profit before tax decline by 29% in the first-half. CSG also lowered its full-year revenue and EBITDA guidance on the back of the weak result. The shares have now lost around 72% of their value over the past eight months.
Hansen Technologies Limited (ASX: HSN)
The Hansen Technologies share price has dropped by more than 8% today as investors continue to digest last Thursday’s weaker-than-expected interim result. Although the company managed to grow sales and profits in the first half, the result was still below what the shares had been priced for. The shares have now fallen around 17% since the announcement but it may be prudent for investors to wait until the share price has consolidated before taking a position in the company.
Worleyparsons Limited (ASX: WOR)
The Worleyparsons share price has crashed more than 18% today after the energy services company reported a 22.7% decline in underlying net profit after tax (NPAT). This was clearly a surprising result considering the share price has nearly tripled over the past 12 months on the expectation of a huge leap in earnings. On top of this, cash-outflows during the period were significant and this limited the company’s ability to pay down any debt or declare a dividend.
Our experts here at The Motley Fool Australia have just released a fantastic report, detailing 5 dirt cheap shares that you can buy in 2020.
One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…
Another is a diversified conglomerate trading over 40% off its high, all while offering a fully franked dividend yield over 3%...
Plus 3 more cheap bets that could position you to profit over the next 12 months!
See for yourself now. Simply click here or the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.
Motley Fool contributor Christopher Georges has no position in any stocks mentioned. The Motley Fool Australia owns shares of Hansen Technologies. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.