Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: bob stroup who wrote (39526)	3/10/1999 7:31:00 PM
From: James Cherney	Read Replies (1) of 95453

Bob, RE: PZL My thoughts: Valued at $1.3B...Sales $3.2B...Gross margins 35% stock trades at 13P/E...Earnings growth projected concensus 10.3% annually for next 5 years (some analysts have it at 7%)...Leverage is 80% (?)... Long term debt only $290MM...total debt $1.2B which explains 80% (MRO is at 80% too fwiw)...BV is $6... pays $0.75div 5.75% yield...expect cost savings of $100MM from team up w/ Quaker State only has $6.6MM in cash so don't see em buyin back shares...Its a new company but it does have the two leading oil brands and change shops Jiffy Lube& Q lube I'm Guessing it gets decent oil prices from its parent PZE...I like yield, brand leadership and new focus. I don't like low profitability...Hope mgt. doesn't either...I'm probably a buyer tomorrow but will inch in...I don't mind buying on the way up

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