Stocks That Fell to 3-Year Lows

Cenovus Energy, Signet Jewelers, DDR and JCPenney decline

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May 06, 2017
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Cenovus Energy Inc. (CVE, Financial), Signet Jewelers Ltd. (SIG, Financial), DDR Corp. (DDR, Financial) and JCPenney Co. Inc. (JCP, Financial) have fallen to three-year lows.

Cenovus Energy declines to $9.46

The price of Cenovus Energy shares declined to $9.46 on May 5, only 3.8% above the three-year low of $9.10.

Cenovus Energy is a Canadian integrated oil company that is known for developing Canada’s oil sands with an emphasis on innovation, safety and environmental stewardship. The company’s business strategy focuses on creating value through the development of its oil sands assets and achieving predictable reliable performance.

Cenovus Energy has a market cap of $10.47 billion; its shares were traded around $9.46 with a price-sales (P/S) ratio of 0.77. Cenovus Energy's trailing 12-month dividend yield is 1.59%. The forward dividend yield is 1.60%.

Cenovus Energy announced on April 26Ă‚ that Susan F. Dabarno was elected to its board of directors. Dabarno is a director of Manulife Financial Corp. (MFC, Financial) and has extensive wealth management and financial expertise. She also spent seven years with Richardson Partners Financial Ltd., an independent wealth management services firm

Signet Jewelers declines to $65.01

The price of Signet Jewelers shares declined to $65.01 on May 5, which is only 4.5% above the three-year low of $62.10

Signet Jewelers is an American jewelry company domiciled in Bermuda. The company is the world’s largest retailer of diamond jewelry and owns and operates the companies Zale, Kay Jewelers and Jared. The group operates mainly in the middle market jewelry segment and has No. 1 positions in both the U.S. and United Kingdom jewelry markets.

Signet Jewelers has a market cap of $4.58 billion; its shares were traded around $65.01 with a price-earnings (P/E) ratio of 9.26 and P/S ratio of 0.78. Signet Jewelers' trailing 12-month dividend yield is 1.68%. The forward dividend yield is 1.94%. Signet Jewelers had an annual average earnings growth of 12.10% over the past five years.

Signet Jewelers announced on May 5Â that it reached an agreement with the Equal Employment Opportunity Commission to resolve all claims related to the pay and promotion of female retail sales employees at the company in EEOC v. Sterling Jewelers Inc. The consent decree states there were “no findings of liability or wrongdoing” and does not require the company to pay a monetary award.

DDR declines to $9.89

The price of DDR shares declined to $9.89 on May 5, only 1.8% above the three-year low of $9.71.

DDR is an American real estate investment trust company that owns and manages value-oriented open air retail shopping centers in the U.S. and Puerto Rico. Tenants include Walmart (WMT, Financial), Kohl’s (KSS, Financial), PetSmart (PEM, Financial) and Michaels (MIK, Financial). It operates in 40 continental U.S. states and Puerto Rico.

DDR has a market cap of $3.98 billion; its shares were traded around $9.89 with a P/S ratio of 3.57. DDR's trailing 12-month dividend yield is 7.70%. The forward dividend yield is 7.72%.

DDR announced financial results for the first quarter on April 25. The first quarter net loss attributable to common shareholders was $59.8 million, or 16 cents per diluted share as compared to net income of $40.0 million, or 11 cents per diluted share, in the first quarter of 2016. Furthermore, first-quarter operating funds from operations attributable to common shareholders was $108.5 million or 30 cents per diluted share, compared to $114.2 million or 31 cents per diluted share in the first quarter of 2016.

JCPenney declines to $5.49

The price of JCPenney shares declined to $5.49 on May 5, which is only 3.1% above the three-year low of $5.32.

JCPenney is an American department store chain with 1,014 locations in 49 U.S. states and Puerto Rico. Some of its products include clothing, cosmetics, electronics and housewares. The company often houses several leased departments in addition to selling conventional merchandise. Most of the company’s locations are in suburban shopping malls.

JCPenney has a market cap of $1.69 billion; its shares were traded around $5.49 with and P/S ratio of 0.13.

On May 5, JCPenney announced that it has reached an agreement in principle to settle the securities class action lawsuit Alan B. Marcus v. JCPenney Co. Inc. The lawsuit alleges that statements made by the company and its former chief executive and chief financial officers in August and September 2013 misled investors regarding the company's liquidity. The $97.5 million settlement will be funded by insurance and will have no financial impact to the company.

Disclosure: I do not own stock in any of the companies mentioned in the article.

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