With the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) sinking lower yesterday it will come as no surprise to learn that a number of shares fell to 52-week lows.
Three shares which are trading at 52-week lows at the moment are listed below. Is this a buying opportunity?
The HT&E Ltd (ASX: HT1) share price fell to a 52-week low of $1.76 on Wednesday. HT&E, formerly known as APN News & Media Limited, came under heavy selling pressure this week after it announced the loss of a key contract. The company's Adshel business lost the Yarra Trams contract it had held for six years, leading management to forecast a $15 million hit to its EBITDA. I think the sell-off may have been overdone, creating an opportunity for investors.
The Netcomm Wireless Ltd (ASX: NTC) share price tumbled to a two-year low of $1.03 yesterday. Investors have been heading to the exits in their droves since the broadband technology company released its full-year results. Despite posting a 26.3% increase in revenue to $107.6 million, NetComm saw EBITDA fall 41.1% to $3.6 million. The company does however expect to deliver record revenues and earnings in FY 2018, so it could be worth a closer look today.
The Southern Cross Media Group Ltd (ASX: SXL) share price hit a new 52-week low of $1.09 on Wednesday. In recent weeks the radio and television broadcaster has been linked with a move for event ticketing and digital marketing company TEG Group. Though reports in The Australian this week speculate that the deal is now off, possibly leading to a touch of disappointment amongst existing shareholders. As I'm not very bullish on the media sector right now, I plan to stay clear of Southern Cross despite how cheap it may appear.
