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.

Click here for the latest news about Post Holdings Inc (POST) and Hanger Inc (HGR) Plummet After Gloomy Quarterly Results.

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