J.C. Penney, Frontier Communications Sink into Wednesday’s 52-Week Low Club

March 1, 2017 by Paul Ausick

March 1, 2017: Here are four stocks trading with heavy volume among 74 equities making new 52-week lows in Wednesday’s session. On the NYSE, advancers led decliners by about 2 to 1 and on the Nasdaq advancers led by decliners more than 3 to 1.

Frontier Communications Corp. (NASDAQ: FTR) dropped 0.1% Wednesday, to post a new 52-week low of $2.90 after closing at $2.93 on Tuesday. The stock’s 52-week high is $5.85. Volume was about 25% higher than the daily average of around 23 million shares. The company missed estimates badly on Monday, but has managed somehow to hang onto its 12.77% dividend yield..

DryShips Inc. (NASDAQ: DRYS) dropped more than 12% Wednesday to post a new 52-week low of $1.81 after closing Tuesday at $2.06. Volume of more than 28 million shares was about 80% higher than the daily average of around 16 million. The company said Monday that it would pay a dividend amount totaling $2.5 million to common stockholders. That works out to about $0.07 per share based on 36.25 million shares outstanding.

J.C. Penney Co. Inc. (NYSE: JCP) dropped about 3.8% on Wednesday to record a new 52-week low of $6.10 against a high of $11.99. The stock closed at $6.34 on Tuesday. Volume was about 5% higher than the daily average of around 21 million shares. The company had no specific news.

Cobalt International Energy Inc. (NYSE: CIE) dropped about 2.8% Wednesday, to post a new 52-week low of $0.69 after closing at $0.71 on Tuesday. The stock’s 52-week high is $3.81. Volume was about double the daily average of around 5.9 million shares. The New York Stock Exchange on Tuesday notified the company that it is no longer in compliance with the exchange’s listing standard..

ALERT: Take This Retirement Quiz Now  (Sponsored)

Take the quiz below to get matched with a financial advisor today.

Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.

Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future

Take the retirement quiz right here.