Still working on Morgan Keegan--sent the following Email this morning
with a copy to Zacks:
Morgan Keegan
Dear John Myers,
I am an investor in Clayton Williams Energy (CWEI) and noticed that
in Zacks Company Report, Morgan Keegan has an earnings estimate of
1.15 for fiscal year 1996 for CWEI. Clayton Williams Energy,
including a non-recurring second quarter 0.16 charge, has earned 1.12
through the first three quarters of 1996. Morgan Keegan has an
estimate of 1.15 for the YEAR. The errant 1.15 estimate of Morgan
Keegan pulls the Zacks consensus estimate down to 1.56, while based
on Paine Webber, Rodman, Renshaw, and Hanifen, Imhoff, the consensus
estimate should be 1.75.
Morgan Keegan, so as not to cause a perturbation in the consensus,
should rightfully either, adjust their estimate to be in-line with
the other analysts, or delete the 1.15 estimate entirely, and submit
it to Zacks. CWEI is to announce earnings in the first week of March
and are on target to beat the current estimates; fiscal year earnings
will be over $1.80. It is not a good reflection on Morgan Keegan to
have an estimate of 1.15, when compared to an actual of 1.80+.
Clayton Williams Energy (CWEI) Estimates
4thQEPS/CFPS 1996EPS/CFPS
Rodman, Renshaw 0.58/1.34 *1.72/4.90
Paine Webber 0.64/1.45 1.78/5.00
Hanifen, Imhoff 0.60/1.40 1.74/4.95
Morgan Keegan 1.15
*Rodman, Renshaw's estimate now includes 0.16 non-recurring second
quarter charge.
Thank You, Sincerely,
M. E. Mills,
Stockholder, CWEI |
