Re: Analyst coverage.
I pulled the following off of Bloomberg.
Nelson Publications has 4 firms (5 analysts) covering JPMX. They are
- Herbert Maher (Advest Inc)
- David Parrish (Advest Inc)
- John Grangaard (GS2 Securities)
- Jacques Gaulard (HSBC James Capel)
- Richard Jacobs (Janney Mont. Scott)
Unfortunately, Nelson's does not detail these analysts estimates or recommendations.
Zacks, on the other hand, does. Zacks has 4 analyst firms listed, along with recommendations, earnings estimates and 5 year growth,as follows:
- Advest...buy...$.90 for 1997...$1.17 for 1998...30% 5 year growth
- Janney...buy...$.85 for 1997...$1.05 for 1998...20% 5 year growth
- GS2 Sec..buy...$.86 for 1997...$1.14 for 1998...30% 5 year growth
- Offutt...n/a...$.75 for 1997...$0.90 for 1998...n/a 5 year growth
It appears that Offutt is the new analyst. Zacks has been updated through 2/10, whereas, Nelson is only updated through 2/6, and Nelson doesn't have Offutt listed. Also, Offutt's estimates are significantly different from the others.
Who the hell is Offutt and what's he doing at our party?
If we throw out the high and low estimates for 1997 and 1998, we'd be left with $.85 and $1.09, respectively. Assuming an appropriate PE is equal to the growth rate, we'd have a PE of 20 or 30, depending on who you believe. Accordingly, based on current year (1997) estimates, a fair stock price would appear to be between $17 and $25.50. Future earnings would justify prices of between $20 and $30. In either case, JPMX looks to be at the lower end of the spectrum. Maybe it's because the company is relatively new and the Street is looking to see a longer string of impressive earnings? Thoughts? |
