In the last 12 months the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has managed to gain an impressive 11.5%. This strong performance has left the benchmark index just a fraction lower than its 52-week high of 5,833 points.
Unfortunately not all shares on the market have managed to perform as strongly. In fact, three shares in particular have just hit 52-week lows. Here's why:
The Australian Vintage Limited (ASX: AVG) share price hit a 52-week low of 43 cents yesterday. The wine company behind brands such as Nepenthe, Passion Pop, and McGuigan Wines has seen its shares come under pressure since the release of a disappointing half-year result. As the company has significant exposure to the UK market, the depreciation of the British pound has hit its bottom line. But with a distribution deal recently signed with a top US distributor, it could be worth giving Australian Vintage more time.
The CSG Limited (ASX: CSV) share price has fallen 41% year-to-date and reached a 52-week low of 43 cents on Tuesday. The print and business technology solutions provider's shares took a dive after a disastrous half-year result led to yet another downgrade to full-year revenue and earnings guidance. Although its shares do look cheap now, management's inability to accurately forecast its business performance doesn't fill me with confidence. For this reason I would avoid CSG.
The GBST Holdings Limited (ASX: GBT) share price tumbled to a 52-week low of $2.64 yesterday. Thanks largely to a weaker-than-expected half-year result, the financial technology company's shares have now fallen a massive 29% in 2017. Like Australian Vintage, GBST has significant exposure to the UK. Management blamed much of the 20% drop in half-year revenue on soft economic conditions in the country. But they clearly believe things will improve judging by the way they have been buying up shares.
