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Why these 4 ASX shares are ending the week in the red

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has fought back from a soft start and pushed higher in afternoon trade. At the time of writing the benchmark index is up 0.15% to 6,338.1 points.

Four shares that have failed to follow the market higher today are listed below. Here’s why they are ending the week in the red:

The Estia Health Ltd (ASX: EHE) share price has fallen 4.5% to $2.99 a day after the release of its disappointing full-year results. One broker that wasn’t overly impressed was Ord Minnett. Although the broker held firm with its hold rating, it reduced the price target on Estia Health’s shares to $3.35 from $3.55. I thought its results were quite weak and would suggest investors avoid its shares for the time being.

The Evolution Mining Ltd (ASX: EVN) share price has dropped 4% to $2.73. This morning the gold miner released its full-year results and revealed a record underlying net profit after tax of $250.8 million, up 21% on FY 2017’s result. While this was a strong result, the miner provided production guidance of 720,000 to 770,000 ounces of gold, down from 802,000 in FY 2018. It also forecast a reasonably sharp increase in its all-in sustaining costs.

The InvoCare Limited (ASX: IVC) share price has continued its decline and is down a further 3.5% to $12.70. The funeral company has come under pressure after the release of a soft half-year result yesterday accompanied with a downgrade to its full-year guidance. Analysts at Deutsche Bank didn’t like what they saw and retained their sell rating and lowly $10.80 price target on its shares.

The Sonic Healthcare Limited (ASX: SHL) share price has dropped 2.5% to $25.64. On Thursday the healthcare company released its full-year results and posted an 8.3% increase in underlying EBITDA to $962 million. While this was in line with what analysts at Credit Suisse expected, the broker believes its valuation has become stretched now. As a result, it downgraded its shares to an underperform rating with a $23.50 price target.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended InvoCare Limited. 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 Scott Phillips.