Investing

6 Top Companies That Destroyed Shareholders Last Week

Chris Lange

Published: March 13, 2016 10:10 am

Last Updated: January 13, 2020 12:01 pm

Both the Dow Jones Industrial Average and S&P 500 felt a huge downward push in the first two months of this year, but now they look to be on the road to recovery. Although stocks now are beginning to make a comeback, some are still slowing that recovery and punishing their shareholders.

We have picked out some companies that punished shareholders last 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.

Performance Sports Group

Following an update to its fiscal third-quarter and fiscal full-year financial results, the bears mauled Performance Sports Group Ltd. (NYSE: PSG) in Tuesday’s session. Whenever companies adjust guidance ahead of an earnings report, usually we can expect some serious movement, and considering the adjustments, this is not surprising for PSG.

For the third quarter, PSG expects a net loss of $0.29 per share, or a net loss of $0.16 per share on a constant currency basis. The same period of last year had $0.13 in earnings per share (EPS). The consensus estimate calls for $0.09 per share loss for the third quarter. In terms of revenue, PSG now expects $125 million, or $130 million on a constant currency basis. The third quarter from last year had $137.75 million in revenue. The consensus estimate is $136.15 million.

Last week, the stock dropped roughly 53.5%. Shares of ended the week at $4.25, with a consensus price target of $11.81 and a 52-week trading range of $2.80 to $21.72.

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