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

To: - with a K who wrote (18796)	3/1/2004 1:19:40 PM
From: - with a K	Read Replies (1) \| Respond to of 78621

Value Line report on ACS from Yahoo thread. I see they used $3.05 as I did for my Graham calculation. New Value Line Report by: olderboy 02/29/04 02:54 pm Msg: 4669 of 4670 On June 27 Value Line reiterated its #2 Timeliness Rating (above Average for year-ahead performance) for ACS and introduced its first earnings estimate for fiscal 2005 at $3.05 per share. Its current estimate for fiscal 2004, ending 6/30, is $2.60 per share. It says that current projections indicate that the shares offer attractive 3- to 5-year appreciation potential, to a price range of 80 to 120 per share. It says that problems with the state of Georgia have been resolved; it notes that investigations are going on in Florida regarding some contracts and says that it cannot comment on the merits of the investigations. Finally, VL says that ACS continues to perform well, that the integration of acquisitions is going well, and that the company will probably be making additional acquisitions, which will be helped by the company's large cash position. It rates financial strength as "A". The current PE ratio is about 18.5, compared with average annual PE ratios of more than 21 for each year since 1996. The leading PE ratio, according to VL's earnings estimate for 2005 is less than 16. Price-Growth Persistence is rated 100 and Earnings Predictability is rated 85. PEG (non VL) is 0.85.

To: - with a K who wrote (18796)	3/1/2004 1:32:28 PM
From: Dave	Read Replies (1) \| Respond to of 78621

- with a K, I, too, have been looking at ACS. Perhaps I am looking at the trees and not the forest, but I believe that outsourcing is becoming more competitive. With HP entering this game and competing on price and I believe AMS is going to enter, is the pie big enough? The valuation is definitely compelling.