Midway Games has recently recovered in price on news that sales have jumped 117% over last year and earnings have advanced to .29, beating street estimates by 14%. This growth comes on the strength of 4 major multi-platfrom hits. The company says that it has 16 new multi-platform titles due out over the next few months and a few arcade game consoles due out this (Sept.) quarter.
With a current P/E of only 18.5 on trailing earnings, earnings forecast to grow at about a 30% rate compunded by the fact that they have soundly exceeded analysts estimates for the second quarter in a row, this stock, IMO, is due to rise substantially in the strong Christmas consumer buying season and throughout next year. I am looking for a double during the next 6 to 12 months. |
