Undervalued Stocks = Low P/E to Growth Ratios Message Board

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Strategies & Market Trends : Undervalued Stocks = Low P/E to Growth Ratios

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To: Mason Barge who wrote (107)	9/4/1997 6:02:00 PM
From: Robert T. Quasius	of 297

I looked at this stock at one time (when the stock was selling at about 30), but decided to buy FirstPlus instead. I'll have to go back and take a second look at CityScape, since it is now selling for around $10. All of these types of stocks tanked after the Mercury Finance fiasco. I picked up FirstPlus after the Mercury Finance fiasco, and stand to make a nice sum. FirstPlus has a higher growth rate, and lends to better credit risks. Most of their loans are of the home equity type to creditworthy individuals. They will go up to 125% loan-to-value, but only to good credit risks. I have already doubled my money from $22 to $49, but I think that fair market value is more like $120. Cityscape has a consensus growth rate around 20% now, but the P/E of only 4.5 is quite a steep discount. Here's the Zacks report: Zacks analyst watch report: CTYS Page: 1 CITYSCAPE FINL 8/30/97 ZACKS ANALYST WATCH MEAN HIGH LOW NUMBER MEAN CHG EST LAST MNTH ($) FISC YR END 12/98 2.60 2.80 2.40 2 -0.69 FISC YR END 12/97 2.30 2.54 1.90 3 -0.34 VS ACTUAL 12/96 0.92 QUARTER END 9/97 0.54 0.65 0.43 2 -0.15 VS ACTUAL 9/96 0.48 QUARTER END 12/97 0.62 0.78 0.45 2 -0.20 VS ACTUAL 12/96 0.51 NEXT 5 YR GRTH (%) 21.33 24.00 20.00 3 0.00 ESTIMATES & ACTUALS ARE BOTH EPS BEFORE XTRAS & OTHER NRI'S Zacks analyst watch report: CTYS Page: 2 CITYSCAPE FINL 8/30/97 WALL STREET RECOMMENDATIONS CTYS RANKED 8/ 27 IN FIN-MTG&REL SV IND RANKED 5/211 R I N N Z -------- -------- -------- -------- -------- STRONG MODERATE HOLD MODERATE STRONG BUY BUY SELL SELL N = NATIONAL RETAIL BROKER; I = INSTITUTIONAL BROKER R = REGIONAL BROKERAGE FIRM; Z = ZACKS INDICATOR RANKING (EPS FORECAST REVISION MODEL) ( + UPGRADE SINCE LAST WEEK; - DOWNGRADE ) Zacks analyst watch report: CTYS Page: 3 CITYSCAPE FINL 8/30/97 COMPANY VS INDUSTRY ---------- EPS GROWTH RATES -------- P/E ON LAST 5 YRS 97/96 98/97 NXT 5 97 ACTUAL (%) (%) (%) YRS(%) EPS COMPANY N/A 149.6 13.2 21.3 4.5 IND: FIN-MTG&REL SV 25.0 25.2 20.8 18.1 12.9 (T=165) S & P 500 12.6 11.1 6.3 7.6 20.0 ------------------------------------------------------------ COMPANY-INDUSTRY N/A 124.4 -7.5 3.3 -8.4 COMPANY-S&P N/A 138.5 6.9 13.8 -15.5 Zacks analyst watch report: CTYS Page: 4 DISTRIBUTION OF EPS ESTIMATES HISTOGRAM AS OF 8/30/97 CITYSCAPE FINL FY1 - 9712 FY2 - 9812 3 ESTS. 2 ESTS. O X X O X !-----!-----!-----!-----! !-----!-----!-----!-----! 1.88 2.08 2.28 2.48 2.68 2.40 2.55 2.70 2.85 3.00 "X" = EPS ESTIMATE ($) "O" = THREE MOST RECENT ESTS. Zacks analyst watch report: CTYS Page: 5 6/97 QTR: CITYSCAPE FINL 9/97 QTR: REPT DATE: 8/ 5/97 * EXP.REPT: 11/10/97 X A O X O X !-----!-----!-----!-----! !-----!-----!-----!-----! 0.52 0.57 0.62 0.67 0.72 0.42 0.52 0.62 0.72 0.82 MEAN 0.59 ( 3) MEAN 0.54 ( 2) MOST ACC 0.57 ( 1) MOST ACC 0.43 ( 1) ------------------------------------------------------------ QTR END % SURPRISE ACTUAL ESTIMATE STD DEV. # ANALYSTS 6/97 -11.38 0.52* 0.59 0.01 3 3/97 1.65 0.54 0.53 0.00 4 12/96 0.03 0.51 0.51 0.04 5 Zacks analyst watch report: CTYS Page: 6 CITYSCAPE FINL - OTH - 335 EMPLOYEES ORIGINATES, SELLS AND SERVICES MORTGAGE LOANS ON ONE-TO-FOUR FAMILY RESIDENTIAL PROPERTIES. YEAR EPS BEFORE XTRAS & NRI'S -CUR- HI/LO 1ST 2ND 3RD 4TH YR(12) PRICE 10 31/ 9 98 NA NA NA NA 2.60E PRC/EPS 5 29/ 5 97 0.54 0.52 0.54E 0.62E 2.30E REL P/E 0.2 1.7/0.2 96 0.31 0.37 0.48 0.51 0.92 YLD 0.00 IAD NA SINCE 10/87 DEC SLS(MM$) NET(MM$) EPS-XNRI EPS-REP DIV/SH HIGH LOW 96 199 50 0.92 1.66 NONE 33 11 95 49 11 0.51 0.51 NONE 10 10 94 11 0 NA NA NONE 0 NA Zacks analyst watch report: CTYS Page: 7 OPERATIONAL ANALYSIS SEGMENT INFORMATION NOT PROVIDED SHARES NA /OWNED BY 73.49% INSIDERS; 36.16% INSTITUTIONS - -PAID $ NA;DATA NOT AVAILABLE, DOCUMENT NOT FILED OR DATA NOT PRESEN T. END

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