8 Companies That Destroyed Shareholders This Week

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First Solar

Though First Solar Inc. (NASDAQ: FSLR) has been a leader among U.S. solar outfits, solar has fallen very much out of favor, and the fate of post-2016 subsidies remains up in the air. Shares got demolished on Thursday after the company reported its third-quarter results. The company actually had a strong quarter on the bottom line, with $1.22 in EPS, versus the consensus estimate of $0.74. However, revenues failed to live up to expectations, coming in at $688 million instead of the $988 million forecast.

Over the past week shares dropped about 20% to close out the week at $32.48, with a consensus price target of $47.91 and a 52-week trading range of $32.41 to $74.29.

Fitbit

Shares of Fitbit Inc. (NYSE: FIT) lost about a third of their value on Thursday after the company reported its third-quarter earnings after the close on Wednesday. Essentially, the company posted $0.19 in EPS and $503.8 million in revenue. However consensus estimates called for EPS of $0.17 and $506.9 million in revenue. Despite the earnings beat, investors are concerned that Fitbit might not be growing fast enough to compete with its larger wearables competitors like Apple or even Nike.

The company is truly proving to be a one-hit wonder. It has great products and is building a solid ecosystem, but the strategy for continued growth ahead feels more than just muted. It has seen many post-earnings analyst downgrades.

Over the past week, Fitbit shares retreated 35%. They were last trading at $8.71. The consensus price target is $13.35, and the 52-week range is $8.37 to $38.15.

GoPro

Ahead of earnings, GoPro Inc. (NASDAQ: GPRO) was already down 7%, but the story only got worse after the company reported. In fact at that time, GoPro shares were halted for the news and now shareholders know why.

GoPro posted a net loss of $0.60 per share, and revenue came in at $240.57 million. That compares to the earnings of $0.25 per share from a year ago, and revenues were down a sharp 29.9%. The consensus estimates called for a net loss of $0.36 per share and $316 million in revenues.

Fourth-quarter guidance was offered at $625 million (plus or minus $25 million) and the company’s adjusted earnings guidance was $0.30 per share, plus or minus five cents. The consensus estimates were $0.46 EPS and $675.5 million in revenues.

Over the previous week, shares were down 16%. The stock closed Friday at $11.12, with a consensus price target of $13.92 and a 52-week trading range of $8.62 to $26.12.

Lumber Liquidators

The third-quarter financial results for Lumber Liquidators Holdings Inc. (NYSE: LL) were reported before the markets opened on Monday. The company posted a net loss of $0.21 per share and $244.1 million in revenue. Consensus estimates had called for a net loss of $0.19 per share and $231.57 million in revenue. In the same period of last year, the company posted a net loss of $0.31 per share and revenue of $236.06 million.

Comparable store net sales increase of 1.0%, reflecting a 0.5% increase in customers invoiced in comparable stores. Non-comparable store net sales increased $5.6 million from in the prior-year period.

Over the past week, the stock dropped by more than 15%. Shares were trading at $15.31 on Friday’s close, with a consensus price target of $13.81 and a 52-week range of $10.01 to $20.10.

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PTC Therapeutics

Late on Wednesday, PTC Therapeutics Inc. (NASDAQ: PTCT) reported its third-quarter financial results. Just a couple weeks ago PTC made the list of destroyed stocks after the company reported that it received a denial from the U.S. Food and Drug Administration (FDA). However, this week it is earnings related.

The company posted a net loss of $1.03 per share and revenues of $23 million, versus consensus estimates of a net loss of $1.21 per share and $19.7 million in revenues.

These numbers look good at first glance but guidance was not as favorable. The company expects to have net sales in the middle of its guidance of $65 million to $85 million for Translarna, a treatment aimed at nonsense mutation Duchenne muscular dystrophy. It is worth pointing out that the company also reported that for the last nine months, ended September 2016, Translarna sales totaled $56.3 million. So for the remainder of 2016, the company is only looking to post revenues of roughly $19 million, whereas the consensus estimate called for about 20% more at $25.55 million.

Over the past week, PTC shares retreated 22%. They ended the week at $5.00. The consensus price target is $11.63, and the 52-week range is $4.03 to $35.40.