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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies
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To: S.C. Barnard who wrote (27308)12/13/1998 5:27:00 PM
From: kendall harmon  Read Replies (2) of 119973
 
NSPR stock value and Hanifen comments.

According to Zachs, the most recently released analyst's comments before those on Friday were by Hanifen Imhoff, Inc. who issued a Company Report on November 10, 1998 for Inspire Insurance Solutions. (http://biz.yahoo.com/z/a/n/nspr/n0113996.html)

On November 10, 1998 Hanifen Imhoff, Inc. analyst Justin Brown issued a 14 page Company Report on Inspire Insurance Solutions. Report highlights: 'Coverage was initiated with a BUY rating and a 12-month price target of $42 per share. The 1998, 1999 and 2000 EPS estimates were set at $0.62, $0.90 and $1.20, respectively. Rapid growth is expected due to a growing contract pipeline and a strong new sales and marketing effort. The EPS growth rate was projected at 35% over the next three years.'

Report No.: N0113996

Now let us take these comments and adjust them for the company guidance given to analysts this past Friday. NSPR said for the new 1999 estimate to be moved down to .84, an adjustment of 6.66%. A similar move down to 2000 earnings (not at all necessary considering that by that time Arrowhead may be better integrated) would lead to earnings of 1.12.

This means that based on the company's guidance, according to the analyst at Hanafin the company's earnings will grow nearly 81% in the next two years, itself a possibly conservative forecast.

Once again the nature of the overreaction and the value of the stock are clearly revealed.
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