Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Bob Rudd who wrote (16403)	2/11/2003 12:40:51 PM
From: - with a K	Read Replies (1) \| Respond to of 78507

Re: CE. Snips from my notes follow. Graham FV calculation using conservative estimates: Company: CE Date: 2/11/03 Current Price: $12.90 2003's expected earnings: $0.82 Estimated 7-10 EPS growth rate: 12 P/E maximum if not 8.5: 15 Graham Fair Value: $22.51 Current Price: $12.90 $ difference: $9.61 Percent Growth to Fair Value: 74.53% In August, Concord was pressured by quality-of-earnings concerns. According to an article in Barron's, some investors feared that the company used the sale of certain terminals leased to merchants, which it reported as other income, to make up for rising expenses. ("The other income category is a legitimate part of our earnings," said Melinda Mercurio, a Concord spokeswoman.) [Haven't seen anyting on this issue since] I worry what impact declining consumer spending will have on CE, but perhaps that is already reflected in this low price? Full Disclosure: I own CE and am considering adding to my position. - Kris