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Why Blackmores, Breville, Jumbo, & oOh!Media shares are ending the week in the red

James Mickleboro
punished, punishment, red card

The S&P/ASX 200 index has given back its morning gains and edged lower this afternoon. At the time of writing the benchmark index is down slightly to 6,405.2 points.

Four shares that have fallen more than most today are listed below. Here’s why they are ending the week in the red:

The Blackmores Limited (ASX: BKL) share price has continued its slide and is down a further 3% to $68.75. Investors have been heading to the exits in their droves since the health supplements company released a very disappointing full year result. One broker that was not impressed was Citi. This morning it retained its sell rating but slashed the price target on its shares by a quarter to $63.00.

The Breville Group Ltd (ASX: BRG) share price has crashed 11.5% lower to $16.04 a day after the release of the appliance manufacturer’s full year results. News that Goldman Sachs has downgraded its shares to a sell rating with a $14.95 price target appears to be the catalyst for this decline. It felt the company’s earnings quality was weak and its cash conversion rate was poor.

The Jumbo Interactive Ltd (ASX: JIN) share price has sunk 15% lower to $17.13 despite the lottery ticket seller more than doubling its full year net profit after tax in FY 2019. Jumbo reported a 124% increase in net profit after tax to $26.4 million thanks to strong customer growth and engagement and increased large jackpot activity. Some investors appear to have been expecting even better.

The oOh!Media Ltd (ASX: OML) share price has crashed 22% lower to $3.14. Investors have been selling the media and outdoor advertising company’s shares after it downgraded its full year guidance. Challenging trading conditions has led to oOh!Media cutting its FY 2019 EBITDA guidance from between $152 million and $162 million to between $125 million and $135 million.

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Jumbo Interactive Limited. The Motley Fool Australia owns shares of and has recommended Blackmores Limited. The Motley Fool Australia has recommended Jumbo Interactive Limited and oOh!Media Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2019