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Strategies & Market Trends : Value Investing
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To: Paul Senior who wrote (57903)5/9/2017 10:30:59 AM
From: Paul Senior  Read Replies (3) of 78958
 
CBI Q report out, and as usual, CBI disappoints. Perhaps to be expected: persistent insider sales have continued since they were noted here last year. I've held my few tracking shares, will add a few more on today's drop.

This company seems to be a large-cap value trap. Management incompetence possibly a decisive factor: They have overpaid for a big acquisition (discussed here previously), and their bidding process for jobs is inadequate (they can't seem to make profits on a significant number of jobs).

Management says they have $19B in backlog, and expect to earn $3.50- $4/sh this year. (Can management be trusted to deliver? Do they even believe it themselves? One has to wonder.)

With the stock down in the $25 area this morning, perhaps at this level we might see an activist investor come in.
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