It certainly has been a difficult month for the Australian share market and today is no exception.
With every single sector in the red today, a number of shares have been dragged to 52-week lows.
Three shares that have just made this unwanted milestone are listed below. Are they too cheap to ignore?
The Carsales.Com Ltd (ASX: CAR) share price fell to a 52-week low of $12.92 today. Despite the online auto classifieds company being tipped as a share to buy by Credit Suisse, it hasn't been enough to stop its shares from tumbling lower. Investors appear concerned that weak consumer sentiment and rising fuel prices and mortgage rates could be weighing heavily on its performance. I think this could be a buying opportunity, though it may be best to wait for its annual general meeting on Friday before picking up shares.
The Catapult Group International Ltd (ASX: CAT) share price touched on a 52-week low of 97 cents before ending flat on Tuesday. The sports analytics and wearables company's shares have now fallen over 42% since this time last year. A number of factors have weighed on its shares this year including a capital raising and a softer than expected full year result. In FY 2018 Catapult posted a net loss of $17.3 million on revenue of $76.3 million. While its shares may be reasonably priced now, I intend to stay clear of them until it looks closer to breaking even.
The MNF Group Ltd (ASX: MNF) share price continued its poor run today and hit a 52-week low of $4.20. Investors have been heading to the exits in their droves since the telecommunications company provided its guidance for FY 2019. Earlier this month management advised that earnings per share is forecast to grow 7.3% this year. And while it expects its growth to accelerate in FY 2020, it hasn't been enough to keep investors on board in the short term. Although I'm not ready to join those that remained on board just yet, another 5% and I would consider picking up shares with a long-term view.
