Target, Signet Jewelers Tumble into Tuesday's 52-Week Low Club

Investing

Published: February 28, 2017 4:04 pm

Last Updated: January 12, 2020 2:23 pm

February 28, 2017: Here are four stocks trading with heavy volume among 64 equities making new 52-week lows in Tuesday’s session. On the NYSE, decliners led advancers by nearly 2 to 1 and on the Nasdaq decliners led advancers by more than 3 to 1.

Frontier Communications Corp. (NASDAQ: FTR) dropped more than 11% Tuesday, to post a new 52-week low of $2.91 after closing at $3.29 on Monday. The stock’s 52-week high is $5.85. Volume was nearly 5 times the daily average of around 21 million shares. The company missed estimates badly last night, but has managed somehow to hang onto its 12.46% dividend yield..

Target Corp. (NYSE: TGT) dropped more than 14% Tuesday to post a new 52-week low of $57.32 after closing Monday at $66.91. Volume of nearly 40 million shares was more than 7 times the daily average of around 5.6 million. The company had a poor fourth-quarter and a damaging outlook. Is CEO Brian Cornell the man for the job?

QVC Group (NASDAQ: QVCA) dropped about 13.6% on Tuesday to record a new 52-week low of $17.24 against a high of $27.25. The stock closed at $19.95 on Monday. Volume was more than 3 times the daily average of around 2.8 million shares. Parent company Liberty Interactive posted a lower-than-expected profit this morning.

Signet Jewelers Ltd. (NYSE: SIG) dropped about 13.2% Tuesday, to post a new 52-week low of $63.25 after closing at $72.88 on Monday. The stock’s 52-week high is $125.45. Volume was about 7 times the daily average of around 1.4 million shares. The Washington Post reported this morning that subsidiary Sterling Jewelers has been hit with a class-action arbitration case of sexual harassment on behalf of 69,000 current and former female employees.

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