I'll go with Spekulatius here on MIR now.
Co. is attempting to strengthen their balance sheet with asset sales, stock issuance, deferral of capital spending projects.
Company projects about $2/sh earnings for '02. If it happens, that's a p/e of about 7 at current stock price.
Price/sales is low. (Might change though with asset sales and increase in stock outstanding.)
Stock is selling near stated book value. (Given ENE and other companies in the sector, book value, at best, imo, can only be used as a reference point now. So I make reference to it and move on -g-)
Not much public history for this company. And other negatives, mentioned earlier on this thread, are a valid concern.
Entire sector seems to be in turmoil. Hard for me to believe that companies here which provide services that consumers want and expect, won't somehow get the funding they need or be able to provide those services at a profit. Ultimately. I hope.
I've been buying MIR yesterday and today.
Paul Senior
who has been wrong many, many times. |
