Why Domino's, Estia Health, Pendal, & Treasury Wine shares are dropping lower

Domino's Pizza Enterprises Ltd (ASX:DMP) and Treasury Wine Estates Ltd (ASX:TWE) shares are two of four dropping lower today…

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The S&P/ASX 200 Index (ASX: XJO) has followed the lead of U.S. markets and is pushing higher on Thursday. At the time of writing, the benchmark index is up 1% to 6,124 points.

Four shares that have failed to follow the market higher today are listed below. Here's why they are dropping lower:

Domino's Pizza Enterprises Ltd (ASX: DMP)

The Domino's share price is down over 3% to $84.25. This follows a lukewarm response to its annual general meeting update by a number of brokers. Although the pizza chain operator delivered strong same store sales growth for the first 17 weeks of the financial year, it has slowed since the 10-week stage. This morning UBS retained its sell rating and lifted its price target slightly to $72.00.

Estia Health Ltd (ASX: EHE)

The Estia Health share price has fallen 2% to $1.33 after the release of its first quarter update. Investors have been selling the aged care operator's shares after it revealed that its total occupancy averaged 91.3% in the first quarter and stood at 89.7% at 31 October 2020. Estia Health has also experienced an increase in costs due to COVID-19.

Pendal Group Ltd (ASX: PDL)

The Pendal share price has tumbled 6.5% to $6.05. This follows the release of its full year results on Wednesday. The fund manager reported cash earnings per share of 45.5 cents per share. This was down 11% from 51.3 cents per share a year earlier. This was driven by a 4% decline in funds under management and a 3% increase in operating expenses.

Treasury Wine Estates Ltd (ASX: TWE)

The Treasury Wine share price fell 6.5% to $8.11 following the release of its annual general meeting presentation. At the event, the wine company spoke about recent media reports regarding its business in China. It said it "has become aware of media reports and speculation relating to a potential embargo of Australian exports, including wine, into China. We have not received any advice or notification from the Chinese authorities in relation to this speculation and are not in a position to comment further at this point in time."

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Treasury Wine Estates Limited. The Motley Fool Australia has recommended Domino's Pizza Enterprises 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.

More on Share Fallers

A young man clasps his hand to his head with his eyes closed and a pained expression on his face as he clasps a laptop computer in front of him, seemingly learning of bad news or a poor investment.
Share Fallers

Why Burgundy Diamond Mines, Clarity Pharmaceuticals, EML, and Zip are sinking today

These ASX shares are ending the week in the red. But why?

Read more »

A worried man holds his head and look at his computer.
Share Fallers

Why 29Metals, Brainchip, Platinum, and Premier Investments shares are falling today

These ASX shares are having a tough time on hump day.

Read more »

Man with his head in his head because of falling share price.
Share Fallers

Why 29Metals, Atlas Arteria, IDP Education, and Mineral Resources shares are falling

These ASX shares are having a tough time on Tuesday. But why?

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why ALS, EOS, NRW, and Patriot Battery Metals are dropping today

These ASX shares are starting the week in the red.

Read more »

A man looking at his laptop and thinking.
Technology Shares

Why are these ASX tech shares getting smashed today?

Owners of these two stocks are missing out today.

Read more »

a man weraing a suit sits nervously at his laptop computer biting into his clenched hand with nerves, and perhaps fear.
Share Fallers

Why AGL, Brickworks, IGO, and New Hope shares are dropping today

These ASX shares are having a poor session. But why?

Read more »

Frustrated stock trader screaming while looking at mobile phone, symbolising a falling share price.
Share Fallers

Why Amcor, Arafura, Brainchip, and South32 shares are tumbling today

These ASX shares are having a tough time on hump day. But why?

Read more »

A young woman holds an open book over her head with a round mouthed expression as if to say oops as she looks at her computer screen in a home office setting with a plant on the desk and shelves of books in the background.
Share Fallers

Why Aussie Broadband, Liontown, Metals Acquisition, and Seek shares are falling

These ASX shares are having a poor session. But why?

Read more »