First Call was at .21 if my memory is correct, and I think the highest analyst was at .22. Estimate for next quarter is .22 and I think we can expect an increase in the very near future. This .23 includes one-time charges for new facility and warranty set-aside, so earnings are actually underreported.
The analysts will have to light up the "buy" sign. Montgomery lowered Cymer on a multiple time earnings basis, I believe from 40x 1.06 to 30x .96. This should put us at least at 32x 1.00 estimate from Montgomery, and 35x 1.04 would be a lot more realistic. Cymer is going to exceed .22 significantly next quarter, IMHO, maybe as high as .26-.28. At this point, 35 is cheap for this stock and I bet we see it as soon as the market turns up a little. Horrendous wafer-fab dive today, caused by this morning's Hong Kong flu epidemic.
Anway, it may take a couple of upgrades, but I see 35 in Cymer's near future. |
