Although a number of shares have come out of earnings season with big gains, some shares have unfortunately not fared so well.
In fact, the three shares listed below have fared so poorly they have just hit 52-week lows. Here's why they are down in the dumps:
The Coca-Cola Amatil Ltd (ASX: CCL) share price fell to a 52-week low of $8.03 today. Investors have been heading to the exits in their droves since the beverage company posted a 29.3% drop in half-year net profit to $140.1 million. Whilst this was a disappointing result, the company continues to target mid single-digit earnings per share growth in the medium term. If it can achieve this then I think it could prove to be a good investment at the current share price.
The Specialty Fashion Group Ltd. (ASX: SFH) share price fell to a 52-week low of 29 cents this morning. It's not hard to see why its shares have sunk lower, earlier this week the fashion retailer reported a net loss after tax of $8.4 million. This loss included $4.9 million for USA store exit costs and a $2.5 million impairment on those stores. I would suggest investors stay away from Specialty Fashion Group until there has been marked improvement in its performance.
The Vocus Group Ltd (ASX: VOC) share price tumbled to a new 52-week low of $2.31 on Thursday. Significant selling pressure has been placed on the telecommunications company's shares following the decision by both Affinity Equity Partners and Kohlberg Kravis Roberts & Co. to not follow through on their respective takeover transactions. Both private equity firms had tabled non-binding offers worth $3.50 per share. While Vocus may prove to be a bargain buy at the current share price, I plan to watch this one from the safety of the sidelines.
