Cobalt International (CIE), Lumber Liquidators (LL) and Ocwen (OCN) Are Trading Near To Their 52-Week Lows

Cobalt International Energy, Inc. (NYSE:CIE) reported a loss in its second quarter financials and the company’s shares lost 2.5 percent on Thursday and fell down to its 52-week low of $13.54. Cobalt International Energy, Inc. (NYSE:CIE) reported a loss of $95 million for the second quarter of 2014 ($0.23 per share) which is slightly higher than the net loss of $79 million in the same quarter last year ($0.19 per share). Cobalt International Energy, Inc. (NYSE:CIE) incurred impairment charges of $42 million related to its drilling activity near U.S. Gulf of Mexico along with seismic and exploration cost of $12 million and $22 million in administrative expenses.

Cobalt International (CIE)

Lumber Liquidators Holdings Inc (NYSE:LL) is also trading near to its 52-week low $52.76 for the past one month. Lumber Liquidators Holdings Inc (NYSE:LL) reported its quarterly earnings on July 30 with revenue of $263.10 million, which is 2.3% higher than the revenue of $257.1 million in the same quarter in 2013. The earnings per share stood at $0.60 unlike the market expectations of $0.90. The company reported a net income of $16.6 million for the quarter.

Ocwen Financial Corp (NYSE:OCN) joins the group with the current share price of $25.83 and the share has a 52-week low price of $25.37. Ocwen Financial Corp (NYSE:OCN) reported its second quarter earnings with revenue of $553.1 million doing 2% improvement from the same quarter last year. Its net income was reduced to $67 million as compared to the net income of $77 million in the second quarter of 2013. Ocwen Financial Corp (NYSE:OCN) increased its income by 22% to $207.6 million. However, the company is facing strong price degradation with most of the analyst firms lowering the target price and share status.

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This article has been written by Prakash Pandey and edited by Serkan Ünal.
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