SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : The Residential Real Estate Crash Index
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: tdl4138 who wrote (57760)7/14/2006 9:21:41 PM
From: Think4YourselfRead Replies (3) of 306849
 
Finished my analysis of any buybacks on the stock. Found this in JOES last earnings report:

"During the first quarter of 2006, JOE expended an aggregate of $37.4 million for dividends and the acquisition of its shares. JOE acquired 421,439 of its shares at a cost of $25.4 million, an average price of $60.16 per share. At March 31st, approximately $128.4 million remained of the company's stock repurchase authorization."

Let's assume they spent another $25 mil this quarter. At a stock price of $48 that's 521,000 shares. The stock traded an average 1.1 million shares a day this quarter so JOE is not propping up the price with buybacks.

I did like what management had to say about being in it for the long term, but it is also obvious that this down cycle is going to set them back quite a number of years. Why would anyone pay $45+ for a stock that was $30 as recently as 3 years ago, and is headed back to fundamentals of then or of even lower prices? It doesn't make sense to me.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News