What’s a Penny Worth?

One-cent Miss Drives Down AutoCanada Stock

August 8, 2014

Gary Lamphier, Edmonton Journal – For AutoCanada Inc., the answer is apparently $139 million in market value. That’s how much was erased from the company’s market cap Friday, after AutoCanada posted second-quarter earnings that were a penny below Bay Street’s consensus estimate.

AutoCanada reported final net earnings of $12.8 million or 59 cents a share for the quarter ended June 30. But after adjusting for non-cash based stock compensation, earnings were 61 cents a share — one cent shy of the consensus forecast.

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