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.
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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.
Groupon Inc. (NASDAQ: GRPN), one of the lost children of Internet stocks, failed its shareholders on earnings and guidance. Revenue missed expectations by only 3%, but that alone does not warrant a 26% crash. It was fourth-quarter EBITDA guidance that caused such a reaction, as it missed Wall Street estimates by 50%. Over the course of the week, shares fell 18%, but the initial reaction had shares down around 30%. The stock was changing hands at $2.73 at the end of the week. It has a consensus price target of $3.79 and a 52-week range of $2.67 to $8.43.
Iconix Brand Group Inc. (NASDAQ: ICON) announced a restatement of certain financial information between 2013 and 2015. Analysts got even more cautious on the stock. This company had already fallen from grace, even before this accounting disclosure. Over the course of the week, shares fell 3% (to Thursday’s close), but initially shares were down about 52%. Shares of Iconix closed at $6.88 on Friday. The consensus price target is $17.13. The 52-week trading range is $6.60 to $41.03.
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Men’s Wearhouse Inc. (NYSE: MW) saw an incredibly negative reaction from investors after it provided preliminary sales results for its fiscal third quarter, as well as fourth-quarter estimates. It now expects earnings per share (EPS) to be between $0.46 and $0.51, down from its previous expectation of $0.87. The consensus estimate for the third quarter was $0.99. Much of this heartache was due to a significant sales weakness at the Jos. A. Bank segment; comparable sales decreased by 14.6%, far below earlier expectations. Last week, shares were flat, but initially on Friday, they were down about 45%. The stock closed at $22.70 on Friday. The consensus price target is $56.60. The 52-week trading range is $21.44 to $66.18.
Qualcomm Inc. (NASDAQ: QCOM) tanked after poor earnings and hit a 52-week low this week. It was indicated down 5.5% at $56.93 after earnings. We have seen multiple price target cuts: Cowen (Outperform) to $69 from $72, Topeka Capital Markets (Hold) to $61 from $65 and Mizuho (Neutral) to $64 from $68. There were other lower targets from Brean, Canaccord Genuity, Credit Suisse, BNP Paribas and Bernstein. The stock was changing hands at $53.42 at the end of the week. It has a consensus price target of $67.15 and a 52-week range of $49.92 to $75.72.
Time Warner Inc. (NYSE: TWX) saw big bad drops two days in a row on earnings: -6% one day and -4% the second. The stock was downgraded to Neutral from Buy with a $79.00 price target at Bank of America Merrill Lynch. Also concerning the earnings, Jim Cramer called it an atrocious quarter. Over the course of the week, shares fell 8%, but the initial reaction pushed shares down around 13%. The stock was trading at $68.86 by week’s end. It has a consensus price target of $86.80 and a 52-week range of $65.25 to $91.34.
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