Sure has been quiet around these parts. Here's some interesting news -- DLJ is now projecting earnings of around $7 per share. SFP just keeps cranking out the earnings.
Tuesday August 22, 3:27 pm Eastern Time
RSEARCH ALERT-DLJ sees Salton beating Q4 estimates
CHICAGO, Aug 22 (Reuters) - Donaldson, Lufkin & Jenrette on Tuesday said it expected small appliance maker Salton Inc. (NYSE:SFP - news) to beat analysts' estimates when it reports fiscal 2000 fourth-quarter earnings next month, and the stock jumped almost 11 percent.
--"We anticipate earnings in excess of $1 per share despite both our and consensus estimates of $0.95," analyst Peter Schaeffer said in a research report. The estimate compares to 48 cents a share posted in the year-ago quarter by Mount Prospect, Ill.-based Salton, which sells the popular George Foreman indoor grill and other household products with Farberware, Juiceman, Maxim and other brand names.
--Salton shares were up 2-5/8 at 35-7/8 Tuesday after rising as high as 36-7/8 earlier in the day. The stock has a 52-week low of 24-4/16 and a 52-week high of 60-14/16.
--"Obviously, investors' indifference to the housewares industry and specifically small appliance companies has led to an irrational short position on the stock which has severely restricted upward movement," Schaeffer said.
--All of Salton's product categories should show significant growth in fiscal 2000 except for the Breadman brand, which has been hit by falling demand for breadmakers, Schaeffer said.
--"Salton is a unique company that has distanced itself from the competition by becoming a marketing driven distributor of high demand, strong visibility, consumer products," Schaeffer said.
--DLJ rates the stock a top pick and Schaeffer said his $6.45 a share fiscal 2001 earnings estimate is likely to be raised to the $7 range after the fourth-quarter earnings release. |
