The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has fought back from a soft start and pushed higher in afternoon trade. At the time of writing the benchmark index is up 0.15% to 6,338.1 points.
Four shares that have failed to follow the market higher today are listed below. Here's why they are ending the week in the red:
The Estia Health Ltd (ASX: EHE) share price has fallen 4.5% to $2.99 a day after the release of its disappointing full-year results. One broker that wasn't overly impressed was Ord Minnett. Although the broker held firm with its hold rating, it reduced the price target on Estia Health's shares to $3.35 from $3.55. I thought its results were quite weak and would suggest investors avoid its shares for the time being.
The Evolution Mining Ltd (ASX: EVN) share price has dropped 4% to $2.73. This morning the gold miner released its full-year results and revealed a record underlying net profit after tax of $250.8 million, up 21% on FY 2017's result. While this was a strong result, the miner provided production guidance of 720,000 to 770,000 ounces of gold, down from 802,000 in FY 2018. It also forecast a reasonably sharp increase in its all-in sustaining costs.
The InvoCare Limited (ASX: IVC) share price has continued its decline and is down a further 3.5% to $12.70. The funeral company has come under pressure after the release of a soft half-year result yesterday accompanied with a downgrade to its full-year guidance. Analysts at Deutsche Bank didn't like what they saw and retained their sell rating and lowly $10.80 price target on its shares.
The Sonic Healthcare Limited (ASX: SHL) share price has dropped 2.5% to $25.64. On Thursday the healthcare company released its full-year results and posted an 8.3% increase in underlying EBITDA to $962 million. While this was in line with what analysts at Credit Suisse expected, the broker believes its valuation has become stretched now. As a result, it downgraded its shares to an underperform rating with a $23.50 price target.
