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Strategies & Market Trends : CANSLIM - COAST TO COAST

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To: froche who wrote (4341)2/18/1999 5:03:00 PM
From: kendall harmon   of 6445
 

Firm: Hambrecht & Quist
Date: 2/18/99
Total Renal Care Holdings, Inc. (TRL) BUY $9.00 FY98 A: 1.22 FY99 E: -
Rob Lunbeck rlunbeck@hamquist.com

TRC: Stock Crushed on Disappointing Report; Cut Rating and Estimates Total Renal Care (TRC) reported 4Q98 revenue and recurring EPS of $339.2 mil. and $0.30, below our estimates of $345.6 mil. and $0.37, respectively. Excluding certain unusual expenses in the quarter, it appears TRC would have reported EPS of $0.35. TRC also reported a $12.3 mil. charge primarily related to acquired A/R.
We have lowered our rating to BUY and expect to cut our 1999 EPS estimate to the $1.55 range. At $9 the stock appears very cheap.
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