Rogers came out with its quarterly earnings today.
I have 122.26993 Rogers B shares through the company share acquisition plan.
The "book value" -- which considers the average price paid for the shares -- is $5106.36.
At this moment, the shares are worth $4252.55. A difference of a little more than $850.
See, the shares fell today. Fell about 5%.
According to forbes.com, "Rogers said it earned C$301 million, or 47 Canadian cents per share, in the three months ended June 30. That compares with a loss of C$56 million, or 9 Canadian cents, in the same period a year earlier. Adjusted net income rose to C$364 million, or 57 Canadian cents a share, from C$299 million, or 47 Canadian cents."
Sounds keen, huh? Earnings are way up, net income is up, profit is up. So why the heck would the shares fall like this?
I asked 680News money honey Leah Walker, and she summed it up: the results missed analysts' estimates.
Ah, of course. Forbes explains, "Analysts expected Rogers to earn 51 Canadian cents a share, according to Reuters Estimates. Earnings before one-time items were expected to be 53 Canadian cents a share."
So what do I think? I think all my non-RRSP savings are locked up in this stock! And I think I'll get a helluva bargain next time the ESAP purchase rolls around if the stock is still this low. And I think that when it goes up to about $50/share (it was $51 a year ago), I'm gonna cash a bunch out, take the profit, and diversify a bit.
I'm just not, y'know, smart enough to know how to do that efficiently right now. I know I can transfer some of my shares 'in kind' to the group RRSP program run by Manulife. That'd let me max out my RRSP for this year without actually shelling out cash. I know I can transfer shares to a brokerage account -- dunno if that includes online discount brokers.
I dunno ... any financial wizzes out there with 2 cents' worth of free advice?
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