5 Companies That Destroyed Shareholders Last Week

Investing

Published: March 6, 2016 10:25 am

Last Updated: March 13, 2020 3:05 pm

Both the Dow Jones Industrial Average and S&P 500 felt a huge downward push in the first two months of the New Year, but now it looks like they are on the road to recovery. Although stocks are beginning to make a comeback at this time, there are still those that are caught in the downturn slowing this recovery and punishing their shareholders.

We decided to pick out some companies that punished shareholders over the course of the past week. While these were not the five biggest absolute losers of the week, among the active stocks, these all issued or had news that pushed shares down. 24/7 Wall St. has included their recent trading history, as well as the 52-week trading range and the consensus analyst price target.

Intrepid Potash Inc. (NYSE: IPI) led the bears early on Monday after it reported its most recent financial results. It had a net loss of $0.26 per share on $42.8 million in revenue, versus consensus estimates from Thomson Reuters of a net loss of $0.11 per share on revenue of $61.67 million. The company sold 89,000 tons of potash in the fourth quarter for a full-year total of 587,000 tons, which is down 36% from 2014. Average net realized sales price per ton in the fourth quarter was $277, a 20% decrease year over year, and was $339 for 2015, up slightly from full-year 2014. Last week, the stock dropped roughly 41%. Shares of Intrepid ended the week at $1.27, with a consensus price target of $2.84 and a 52-week trading range of $0.65 to $13.29.

Ocwen Financial Corp. (NYSE: OCN) has been under much scrutiny in the past year following its mortgage debacle. But now this company faces another obstacle in the form of its most recent earnings report. Its shares dropped tremendously over the course of the week, following the release of its earnings report on Monday. Ocwen said it had a net loss of $0.98 per share on $362.5 million in revenue. Consensus estimates called for a net loss of $0.34 per share. Over the past week, the stock dropped 61.5%. Ocwen shares closed at $2.38 on Friday, with a consensus price target of $4.00 and a 52-week range of $2.05 to $11.82.