Sparky, no disrespect intended. Sorry if I gave off that impression, but I must once again say that if you ask anyone else here that has followed Eco for over a year that the 1.20 thing is VERY important. Look what happened when this low PE stock missed by 2c last quarter even though the 28c was 40% greater than the same quarter last year...and it was the first quarter that any tax was charged because the NOL's were gone. Not to mention than First call had 25c as the mean estimate. Part of the reason for the sell-off was that the "1.20" thing looked even farther away since we now need 37c rather than 35c.
>>Nowhere is $1.20 even hinted as a possibility for '97.<<
I don't know what you've read, but ask any other regular here, and they'll tell you that that is flat wrong, simply because McGinnis has been stating it for over a year since late 1996 when he made the prediction. Alot of folks here who have followed it that long also find it hard to believe, but most are now hopeful that it can be achieved. I will say this: If we don't meet 1.20, even with all the other positives going on here, the stock will fall 2-3 points regardless if it's 1.19 or a little less. Sad but true. If you read back here and on AOL, the 1.20 thing has been rehashed to death for many months to the point that anything less will see alot of selling. I'll be buying that dip myself (unless it's a horrible earnings of 1.14 or less) Maybe DBCO will take the focus off of 1.20 a little. I hope so anyway. Maybe if you read back even farther, you'll see what I mean. 1.20 has been the mantra for 97 so long, that maybe it's not been discussed as much lately with DBCO and other acquisition news, but rest assured, there has been MUCH more than a hint of 1.20 for 97 under discussion for a year now. If you read back on AOL also, in the Motley Fool boards, you'll see it there as well. I know I come off as abrasive, that's my nature, but the above quoted statement I'm sure provided a laugh for many long time Eco investors here. Being new here, I just thought you should know how much really depends on 1.20, ridiculous as that goal seems, and ridiculous as the fact that the stock will sell off if it misses by a few pennies is as well. I pray that DBCO goes well and that takes some pressure off the reliance on 1.20, but rest assured: 1.20 has been MORE than hinted at for over a year. If I sound abrasive to you, chalk it up to the frustration of having to achieve this lofty goal to justify a PE of 10 for God's sake! I hope to see you at the bank too :) No hard feelings, but I thought you should know how important 1.20 really is regardless of how unrealistic it seems to be. I'm betting they'll do it because they have to, and it's the impression that it will have that makes me think we'll finally get that PE of 20 we deserve. |
