Investing

The Ten Worst Performing S&P 500 Stocks of 2011 (JNS, HCBK, GNW, NFLX, X, AIG, CVC, ANR, MWW, FSLR)

Although the month of October put up a big gain in the S&P 500 stocks, for the year-to-date S&P stocks have risen just 1.2%.  The ten worst performers have all lost more than -49% of their share prices since December 31, 2010. Here’s a look at the worst performers and a bit of color, together with implied upside based on Thomson/Reuters data on consensus price targets.

Janus Capital Group, Inc. (NYSE: JNS) fell -49.4%, from $12.97 to $6.56. The consensus price target is $7.00. Janus has struggled with high redemptions so far this year and the company’s assets under management could fall further by the end of the year.

Hudson City Bancorp, Inc. (NASDAQ: HCBK) fell -50.9%, from $12.74 to $6.25. The consensus price target is $6.50. Hudson’s mortgage business has been beaten up by low mortgage interest rates, which currently show now signs of rising significantly.

Genworth Financial Inc. (NYSE: GNW) fell -51.4%, from $13.14 to $6.38. The consensus price target is $8.50. Genworth, an insurance company, has suffered from mortgage insurance woes, as the risk of default on the company’s insured loans rises.

Netflix, Inc. (NASDAQ: NFLX) fell -53.3%, from $175.70 to $82.08. The consensus price target is $185.00. This stock was our worst performer in the month of October, but its decline started in July.

United States Steel Corp. (NYSE: X) fell -56.6%, from $58.42 to #25.36. The consensus price target is $35.00. Like other steelmakers, US steel has struggled with reduced construction and lower levels of automobile manufacturing. The outlook continues weak.

American International Group, Inc. (NYSE: AIG) fell -57.2%, from $57.62 to $24.69. The consensus price target is $29.00. AIG continues to feel the weight of its majority ownership by the federal government and its rising cost of capital.

Cablevision Systems Corp. (NYSE: CVC) fell -57.2%, from $33.84 to $14.47. The consensus price target is $22.00. This was another of our biggest October losers.

Alpha Natural Resources, Inc. (NYSE: ANR) fell -60%, from $60.03 to $24.04. The consensus price target is $35.50. Alpha’s $8.5 billion purchase of Massey Energy came at a high point in the coal business, which has since seen asset values fall. Alpha’s overhang on litigation from an explosion at a Massey mine that killed 29 miners.

Monster Worldwide Inc. (NYSE: MWW) fell -60.9%, from $23.63 to $9.23. The consensus price target is $15.00. Monster has suffered from high US unemployment as employers have not been looking to hire new employees.

First Solar Inc. (NASDAQ: FSLR) fell -61.8%, from $130.14 to $49.77. The consensus price target is $100.00. First Solar was the second-worst performer in our list of the worst stocks in the month of October.

Paul Ausick

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