The S&P/ASX 200 index has given back its morning gains and edged lower this afternoon. At the time of writing the benchmark index is down slightly to 6,405.2 points.
Four shares that have fallen more than most today are listed below. Here’s why they are ending the week in the red:
The Blackmores Limited (ASX: BKL) share price has continued its slide and is down a further 3% to $68.75. Investors have been heading to the exits in their droves since the health supplements company released a very disappointing full year result. One broker that was not impressed was Citi. This morning it retained its sell rating but slashed the price target on its shares by a quarter to $63.00.
The Breville Group Ltd (ASX: BRG) share price has crashed 11.5% lower to $16.04 a day after the release of the appliance manufacturer’s full year results. News that Goldman Sachs has downgraded its shares to a sell rating with a $14.95 price target appears to be the catalyst for this decline. It felt the company’s earnings quality was weak and its cash conversion rate was poor.
The Jumbo Interactive Ltd (ASX: JIN) share price has sunk 15% lower to $17.13 despite the lottery ticket seller more than doubling its full year net profit after tax in FY 2019. Jumbo reported a 124% increase in net profit after tax to $26.4 million thanks to strong customer growth and engagement and increased large jackpot activity. Some investors appear to have been expecting even better.
The oOh!Media Ltd (ASX: OML) share price has crashed 22% lower to $3.14. Investors have been selling the media and outdoor advertising company’s shares after it downgraded its full year guidance. Challenging trading conditions has led to oOh!Media cutting its FY 2019 EBITDA guidance from between $152 million and $162 million to between $125 million and $135 million.
You’re invited! For a limited time, The Motley Fool Australia is giving away an urgent new investment report detailing our 3 TOP BLUE CHIP SHARES to own in 2019.
So if you like trustworthy, stable, high-performing companies that pay fat fully franked dividends – we’ve got you covered!
Stock #1 is a beloved old Australian company turning its attention to high-margin businesses... and rapidly returning cash to shareholders with its hefty dividend...
While Stock #2 is an online powerhouse that’s rapidly gaining market share all around the globe... poised for years (or even decades) of tremendous growth...
Even better, Stock #3 offers a whopping 6.5% grossed-up dividend! Which beats the rates on term deposits right out of the water – and offers the potential for capital gains, too.
You can discover all three shares inside our new report right now. To scoop up your FREE copy, simply click the link below right now. But you will want to hurry – this free report is available for a LIMITED TIME ONLY!
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 Jumbo Interactive Limited. The Motley Fool Australia owns shares of and has recommended Blackmores Limited. The Motley Fool Australia has recommended Jumbo Interactive Limited and oOh!Media Ltd. 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.