The Motley Fool

Why Computershare and these ASX shares crashed to 52-week lows

On Tuesday the S&P/ASX 200 index returned to form and climbed a solid 0.5% to 6,724.6 points. This left the benchmark index trading not too far away from its all-time high.

Unfortunately, not all shares are faring as well the benchmark index. The three ASX shares listed below all hit 52-week lows or worse on Tuesday. Here’s why they are down in the dumps:

The CIMIC Group Ltd (ASX: CIM) share price continued its slide and fell to a 52-week low of $34.63 yesterday. Investors have been selling the contractor’s shares after the release of a disappointing half year result last week. In the first half of FY 2019, CIMIC delivered a 1% increase in net profit after tax to $367 million, which was well short of the expectations. Another disappointment was that CIMIC reported very weak cash flows during the half.

The Computershare Limited (ASX: CPU) share price dropped to a 52-week low of $15.82 on Tuesday. The share transfer and share registration services provider’s shares have come under pressure this year after its growth failed to live up to expectations. The company recently reaffirmed its management earnings per share growth guidance of 12.5% in FY 2019, which appears to have disappointed investors. In addition to this, there are concerns that its UK business could weigh on its performance in the near term.

The Superloop Ltd (ASX: SLC) share price tumbled to a 52-week low of 88 cents on Tuesday before rebounding higher. Investors have been racing to the exits this month after the telco company downgraded its FY 2019 guidance materially. Its shares then came under further pressure last week when its chairman revealed that the company was withdrawing its guidance for FY 2020. It plans to provide an update to its guidance at the start of next month. I suspect this will reveal a sizeable downgrade to its original guidance.

Does your portfolio need a boost after these declines? Then check out these top shares that are too cheap to ignore.

NEW. Five Cheap and Good Stocks to Buy in 2019…

Our Motley Fool experts have just released a brand new FREE report, detailing 5 dirt cheap shares that you can buy today.

Stock #1 is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Stock #2 is another high-growth business trading near a 52-week low all while offering a 4.7% grossed-up yield...

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.

CLICK HERE FOR YOUR FREE REPORT!

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of SUPERLOOP FPO. The Motley Fool Australia has recommended Computershare. 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.

NEW. Five Cheap and Good Stocks to Buy in 2019…

Our Motley Fool experts have just released a brand new FREE report, detailing 5 dirt cheap shares that you can buy today.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading near a 52-week low all while offering a 2.8% fully franked yield…

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.

CLICK HERE FOR YOUR FREE REPORT!