8 Companies That Destroyed Shareholders Last Week
Most companies that reported earnings last week beat or matched their estimates. This has been the case for most of this earnings season. In fact, this is perhaps the best performance by the broad markets for the month of October in the past four years. However, there still are a few companies that missed their earnings, contrary to the trend. 24/7 Wall St. has highlighted a few of them from this past week, and we have included a recent trading history, consensus targets and a 52-week trading range.
Bluebird Bio Inc. (NASDAQ: BLUE) had a massive sell off during the past week on updated news on its earnings call and clinical trial data for its beta-thalassemia treatment. Some might call this an overreaction despite some analysts saying the data looked fantastic. Over the course of the week, shares fell 11%, but initially, they were down about 20%. The stock closed at $73.64 on Friday. It has a consensus analyst price target of $170.22 and a 52-week trading range of $38.60 to $197.35.
Chipotle Mexican Grill Inc. (NYSE: CMG) had a big downgrade Friday that marked the ninth day in a row of a lower stock price. We called that there could still be $200 in downside left, or about $160 from current prices. This is all based around an E. coli scare and resulting closures. Over the week, shares fell nearly 5%. Chipotle ended the week at $612.40. The consensus analyst price target is $747.22, and the 52-week range is $594.00 to $754.83.
FireEye Inc. (NASDAQ: FEYE) has been slammed after disappointing guidance with earnings, and analysts did not hold back. Bank of America Merrill Lynch downgraded FireEye to Neutral from Buy with a $30 price objective. FBR downgraded it to Market Perform from Outperform, and Wells Fargo downgraded it to Market Perform from Outperform. Lower price targets were issued by Barclays, Morgan Stanley and Stifel. Last week, shares fell nearly 16%, but initially shares were down about 25%. FireEye closed at $23.83 on Friday, in a 52-week range of $21.75 to $55.33. The consensus price target is $34.91.