Dividend yield is still good, even at a SP of $3.20 - about 5.6%. So no real worries there (yet). We knew a div cut was coming so it shouldn't be a surprise to anyone.
It's become an even riskier stock now though, the days of it being a defensive stock are long gone. Good scope for capital gains if this Project Diamond works, but if it doesn't, profits will continue to decline.
Personally I am not buying any time soon. As I said above I would short this stock if I were going to do anything with it. Even if just a covered short. But I think I'll just hold. As of today it's down to 2.25% of my portfolio, so I'm not really worried about it.
But I think this will easily head into the low 2s, possibly into the 1s. Money to be made from going short IMO.
Ann: FY14 Guidance Update , page-38
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$3.69 |
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Mkt cap ! $4.027B | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
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| 10 | 314432 | $3.69 |
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| Price($) | Vol. | No. |
|---|---|---|
| $3.70 | 263969 | 7 |
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