Disciplined Investing, especially the NAIC way Message Board

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Strategies & Market Trends : Disciplined Investing, especially the NAIC way

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To: - with a K who wrote (392)	3/15/2003 9:52:17 PM
From: - with a K	Read Replies (1) of 469

Does anyone have any thoughts on ADP after its shellacking? It too has EPS growth of linear beauty. But its been hit hard and now I have to do the OPPOSITE of BMET and FRX to not have it such a screaming buy: lower the low price $9 below any of the choices offered, severely cut back the high PE and use a very conservative EPS estimate. After all that pessimism I get a buy up to $36 and an up/down of 5.3 to 1. It pays a real small dividend and is a popular holding of NAIC clubs. I don't have a VL on them..... any thoughts? News snip: ADP said it now expects fiscal 2003 earnings to range between $1.68 and $1.73 a share, compared with earnings of $1.75 a share for the fiscal year that ended June 30, 2002. The company also said revenue will be flat with the $7 billion in fiscal 2002. ADP trimmed its fiscal 2003 earnings and revenue growth forecasts in January, but at that time expected low-single digit percentage growth compared to a previous mid-single digit estimate. Analysts currently expect earnings of about $1.79 a share and revenue of $7.12 billion for fiscal 2003. The company's revised guidance primarily reflects the company's plan to increase investments in promising growth areas, cost reductions that include exiting "nonperforming" product lines and investments to retain "quality associates."

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