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Gold/Mining/Energy : Dorel Industries (DII.B , M or T) good earnings report
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To: Jay Arkay who wrote (61)5/18/1999 6:57:00 PM
From: Jay Arkay  Read Replies (1) of 96
 
Dorel gets great coverage in National Post, in an extended article in the May 14th issue. Headline is "Mass market appeal drives Dorel's advance"; subhead: "Analysts still bullish: 19th consecutive quarter of sales and earnings growth." The column goes into considerable detail, all in a very positive tone. It notes that 10 analysts cover Dorel, including one at a major US investment firm, and on average rate Dorel as a solid "buy". Apparently, Dorel is also out-competing the other two large firms in the ready-to-assemble industry. One analyst gives a one-year target of $38. Read it for yourself: go to the nationalpost.com site, then choose "financial", then insert "dorel" into the search choice in the lower-left-hand area. It appears that Dorel has now moved into the mid-cap (for Canada) realm, is now attractive to institutional (including foreign) investors, and should soon be commanding a significantly higher PE ratio reflecting its outstanding growth record and great management. I've held my Dorel shares since 1992 and have been very richly rewarded; still more rewards lie in the future for new buyers, as the shares are significantly underpriced on a PE basis given the company's growth record and relative stability against economic downturns. Analysts are predicting full year 1999 earnings of $1.80 ps, and given their performance of 45 cents in Q1, I would not be surprised if they surpass this.
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