America On-Line: will it survive ...? Message Board

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Technology Stocks : America On-Line: will it survive ...?

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To: J.S. who wrote (4936)	10/1/1997 9:49:00 PM
From: Todd Daniels	of 13594

Fun with earnings estimates..... Hot on heels of Robbie Stephen's bump of FY99E, Nesbitt `House Of Bre-X' Burns dittoed, followed Monday by Cowen's Jamie `The Reiterator' Kiggen, who raised RS by $0.30. All of this goosed consensus FY99E to 1.61 from 1.54 just the week before and 1.50 before that (which is what it was for a week after the CSRV deal) Why raise between 9/23-9, when no particular news? One reason AOL dropped from 80 was increased of premium of PE to growth rate -- which many institutional guys look at. In fact, the AOL consensus 5 year growth rate had declined from 55% to 47%-50% depending upon estimating service. This meant that FY99 PE was even more out of whack with growth rate. It would have looked silly to goose growth rate from 55% in order to close the PE/GR premium gap. So that leaves earnings. But just one guy alone raising wouldn't have fixed it. So, three did. No collusion per se. More like communication among bats.

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