Hummingbird Comm. (HUMC) Message Board

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Technology Stocks : Hummingbird Comm. (HUMC)

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To: SpecialK who wrote (1706)	8/20/1998 11:07:00 AM
From: Martin Goldenberg	Read Replies (1) of 2018

Actually they have about US $160M in cash so they could buy back a heck of a lot more shares than 4 million if they wanted to. I did some very crude math this morning. If they buy the full 1 million shares and reduce their float by 7.7%, a profit of 12% per share would convert to about 17%. At the current share price of CAD $32, this would convert to about CAD $45 per share, assuming an equivalent PE of 17 to match the profit increase......just a little fun with numbers. Now the above is a ridiculously conservative and is a very simple-minded approach. But what if the year over year quarterly profit gets back up to the 15% level this coming quarter before share buy-back....and then what if HUM buys back the full 1 million shares by that time......? Interesting day dreaming kind of thinking. Now to get back to work.... Martin

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