REXI is jumping up! Message Board

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Strategies & Market Trends : REXI is jumping up!

REXI 9.780

0.0%

Sep 9 5:00 PM EST

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To: majormember who wrote (24)	8/24/1998 9:03:00 PM
From: steve kennedy	of 83

The full article from JANNEY MONTGOMERY SCOTT INC IS posted in 2 parts on Yahoo thread messages.yahoo.com@m2.yahoo.com messages.yahoo.com@m2.yahoo.com partial quote from article: --- JANNEY MONTGOMERY SCOTT INC. --- August 24, 1998 Claire M. Percarpio, CFA (215) 655-XXXX Resource America, Inc. (REXI^#-$29) No Fundamental Reason for Price Drop EARNINGS PER SHARE (Sept.) 1998 VS 1997 OLD NEW P/E RATIOS F1QA $0.27 VS $0.22 1999E $2.75 10.5x F2QA $0.43 VS $0.18 1998E $1.61 17.9x F3QA $0.45 VS $0.21 1997A $0.84 34.3x F4QE $0.46 VS $0.24 Yield: 0.5 % Market Cap.: $610 Mil. 5-Yr Growth Rate: 50% Dividend: $0.13 Rating: BUY 12-Mo. Target Price: $55 Note: Calendar year estimates are: 1997, $0.91; 1998, $1.93; 1999, $2.90. Friday's price drop of over 15% as of late afternoon, appears to have been driven by false rumors, a negative announcement at another specialty finance company, Sirrom Capital (SIR-$9) and perhaps some profit taking in what is a nervous and illiquid market overall. * We have spoken with a number of executives at Resource and feel comfortable that there is not any negative event in the wings and no change our positive fundamental outlook. In fact, there appear to be additional positive developments occurring in both commercial real estate and leasing. (more...)

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