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yeah okay...thanks for stopping by and providing the powerful insight and analysis. Normally it is good to buy at bottoms--not sell BTW.
This company is mainly comprised of franchisees who own their own offices across thousands of cities and towns in the U.S. From my DD and experience there isn't talk about those franchisees going bankrupt or folding up shop. Yes their margins are down but show me a company in this industry whose volumes isn't down besides Turbo Tax. So JH's risk of bankruptcy is distributed and very low IMO.
No, H&R Block, Liberty and other tax services need not be comfortable and smug thinking they are immune to the FDIC's obvious targeting of this industry and particularly the RAL lending institutions. The overall market is down for this service as well--across all of the industry.
What you fail to recognize is that Jackson-Hewitt maintains some very strategic, beneficial partnerships with the likes of Wal-Mart. JH is their PREFERRED partner for this service in thousands of their Super-Centers nationwide and just last year renewed their commitment to JH with the first rights to refusal contracts for all those Wal-Marts.
So please keep shorting it even lower if you can so I can more shares lower.. Just don't be mad if you get a nice surprise one of these days and you are caught chasing with your pants down..lol.
DD22
The new 52-week low 1.96 was created today! Sell ASAP before the pos
scam files the CH11 or even CH7 within a month! Glad to have shorted
it would be nice to see 2.00ish level hold and provide some nice bounce support. We'll see.
DD22
Jackson Hewitt to Report Fiscal 2010 Third Quarter Results on March 11, 2010
Date : 02/10/2010 @ 9:00AM
Source : PR Newswire
Stock : (JTX)
Quote : 2.48 0.03 (1.22%) @ 7:52AM
Jackson Hewitt to Report Fiscal 2010 Third Quarter Results on March 11, 2010
PARSIPPANY, N.J., Feb. 10 /PRNewswire-FirstCall/ --
Jackson Hewitt Tax Service Inc. ("Jackson Hewitt") (NYSE:JTX) announced today that it will report its fiscal 2010 third quarter results prior to the opening of trading on the New York Stock Exchange on Thursday, March 11, 2010. Harry W. Buckley, president and chief executive officer, and Dan O'Brien, chief financial officer, will host a conference call to discuss the results on Thursday, March 11, 2010, at 8:30 a.m. (EST).
The fiscal 2010 third quarter results press release will be available at the Investor Relations tab of Jackson Hewitt's website, http://www.jacksonhewitt.com/. The conference call will be simulcast live on the Internet through the same website. If you are unable to listen to the live webcast, a replay will be available on this website.
About Jackson Hewitt Tax Service Inc.
Jackson Hewitt Tax Service Inc. (NYSE:JTX), with more than 6,000 franchised and company-owned offices throughout the United States, is an industry leader providing full service individual federal and state income tax return preparation. Most offices are independently owned and operated. Jackson Hewitt is based in Parsippany, New Jersey. More information may be obtained at http://www.jacksonhewitt.com/. To locate the Jackson Hewitt Tax Service(R) office nearest to you, call 1-800-234-1040.
Here is to hopefully a nice quarter. We will take a hit over last year's quarter but hopefully we can beat what the street is predicting for an earnings surprise. Dragonfly doji reflected indecision in the market today....that formation has foreshadowed good things for us in the past. We'll see.
DD22
should get a nice push this week with earnings out Thursday pre-market more buys than sells so far today!
Agreed.. It is about to have an ADX + to - cross. Good things..IMO
Will push through $3.00 tommorrow morning lots of volume on Friday to get through that 2.95 resistance IMO
Keep on truckin' JTX...still undervalued here IMO...
DD22
this will run to $6.00 very soon the March 11th quarterlys will help it along nicely
the cool part is i got in today @ the open @ $2.71 didnt hesistate at all,as my green & red system; Clearly was showing a Buy signal.
iam looking also to Capitalize around that range.
I am all over the $5.00 option covered call through April..that will take us through the tax season nothing but up for the time being..GL
Yes indeed,you deserve a board mark.and i think this company is very lagit due to the season we are in.
GLTU.
should hit $3.00 today IMO
PK(JTX) is Undervalued.
all technicals are showing this to be undervalued do to tax season.
I see future holding 20%-35% gains here,a move to $3.50(Short_Term) chart indicates is not an understatement!!!
yep..she is on a roll..touched and held that $2.00 level nicely and she-BOINGED up like an olympic snowboarder on Red Bull!!!
Hearing some interesting other rumblings about the industry overall.. HRB and Liberty better not get all fat, dumb and happy thinking their RALs are completely safe from the regulators. Just saying...
Also actually seeing and hearing from peeps that JTX is experiencing an increase in 2nd season filers already..niceeee
DD22
beautiful bounce from 52 week low loving it..the March 11th projections is .60 I say it beats the street and a dollar is more like it.. moving nicely...
Yes... I'm glad I got in at 2.08..
Wheres that Value_Investor guy...........guess he was incorrect..
3 days grn. imo bottom maybe behind us. picked some up yesterday near the low.. Z
Nice day today peeps...maybe the start on the road to recovery for the undervalued pps. Everyone loves a bargain.
DD22
What happened to your $1.87 prediction for today? 0 for one on your way to 0 and 2.
New 52-week low $2.01 was created yesterday! Sell ASAP before it hit another new low $1.73 tomorrow or Friday. CH11 or even CH7 is on the table now. Huge debts will soon destroy the company completely!
Paying the Taxman
Jackson Hewitt (NYSE:JTX) is the second-largest preparer of income tax returns after giant H&R Block (NYSE:HRB). But compared to HRB, Jackson is a tiny fish. At $3.45, shares are down from over $35 a couple of years ago. Now the company has a new CEO, incidentally from H&R Block, and the company seems headed in the right direction. Shares trade at less than five times earnings.
Jackson has had some problems with franchisees and competition from H&R Block is stiff, but the current share leaves room for huge upside if the company can continue to execute. Jackson Hewitt has a relationship with over 1,800 Wal-Mart (NYSE:WMT) locations, clearly a sign that the company is not falling apart. (Think you have what it takes to be chief executive? Find out what those at the top have in common. Read Becoming A CEO.)
Nice find bitty--thanks for your contribution. For folks that have kicked themselves all last year about not loading up on some companies that were ridiculously beaten down last March only to watch them rebound for major returns...might ought to do some homework here.
ALL IMO,
DD22
DD22
They also become a lucrative buy-out target since their market cap is getting so low..always 2 sides to every story for every company. But you seem to post this same post on every stock you post on..with the symbols and prices changed of course...lol.
The pps is falling but not the sky as you and your fellow shorters would like folks to believe. Playing with fire now shorts..Don't get greedy..a surprise may have some scrambling to cover.
DD22
Small Stocks with HUGE Potential - JTX - LINK
http://stocks.investopedia.com/stock-analysis/2010/Small-Stocks-With-Huge-Potential-JTX-HNR-COP-HRB-WMT0205.aspx?partner=YahooSA
New 52-week low $2.07 was created today while DJI is up over 140! It
will hit another new low $1.87 today or tomorrow. Sell ASAP before it is too late! CH11 or even CH7 is on the table now...
New 52-week low $2.23 was created today! Sell ASAP before the scam hits another new low $2 or even $1.87. CH11 / CH7 may be filed soon.
Word is they are aligning themselves with another bank so, if true watch out when that news hits!
Oversold IMO. It does seem drawn to the lower BB ($2.02) like a moth to a flame though. Shorts are having fun with this one but they better not get greedy if JH comes out with an earnings surprise on their azzz.. Millions of returns are still being done and revenue generated. RAL market customers are pretty well finished and the word is that it wasn't as bad of a drop...
It turns out that some customers just don't want to go through the trouble of changing tax preparers and in a down economy are making the decision to wait a little longer to get more money back---traditional returns vs the RAL. Building brand loyalty is starting to pay off some for the company it looks like.
On an admin note--repeating the same thing over and over will get your posts deleted. Please review the TOU.
DD22
Another new 52-week low $2.43 was created today! Sell ASAP before it
hits the new low $2.24 in the next week.
It was a high volume day, not sure of the # of sales. Today was the worst day since the new lows. I agree with you, if people are worried they should sell and move on. I'm holding and waiting myself, this could get bad if the major holders start selling off, but it could be a good play aswell.
Does anyone know how many shares dumped at the 52-week low $2.62 so
far? I bet it must be around 100,000 ~ 200,000 shares. Seems $2 will
be the next 52-week low if there is no further bad news. Sell ASAP!!
excellent post--- i agree except i think the pop here will come sooner than march-- look for it-- see you at 4 in the short run
I'm loaded up on this. I dont have any worries. The damage is done and earnings will tell the story. The loss of 50% of the RAL refunds is a hit but nowhere near what most claim it is and the sell off was a over reaction to previous news back in December. I say the remaining debt gets reworked and life goes on. I agree it will be a slow process but the fear is gone.
The pos scam is heading onto the new 52-week low $2.1 or even $1.87.
Sell ASAP before the very sick CEO announce the CH11 or CH7 plan...
Bullish on Google Finance today and more buying (see links)
http://www.mysmartrend.com/ms/2169
http://www.sec.gov/Archives/edgar/data/1283552/000108636410008343/0001086364-10-008343-index.htm
Strong Buy!
My guess is the debt holders would have a good incentive to work with them. If they filed BK what assests do they have that would be worth liquidating? Dont seem to be a good plan.
Will the pos scam file the CH11 or even CH7 in the short term due to heavy debts default problem? I bet the new $2 will be hit very soon!
I'm in a Doji position right now with it..indecision. The IRS is gaining more and more capability every year through the deployment of their own online tools and getting folks their money quicker and quicker.
There will always be a market for RALs due to human nature of "wanting it now" but that market will shrink and be slowly choked down by the regulation of banks that can offer it.
That is the $64K question with JTX...what will they do since their cheese is moving?
IMO we see a buyout longterm...the market cap on this makes it very inviting for a larger corporation who would want to get into the tax prep business on the cheap and be able to negotiate that buyout from a major position of strength... Do you know of many shareholders who would vote against a buyout if it was proposed at this point??? Lower Prices Everyday
DD22
Your knowledge is impressive. I've read in the near future RALs will be phased out, so how do you feel these companies will fill the gap from the declining revenue? JTX has done my taxes for years and I dont normally get refunds, so long term how do you feel about JTX? THANKS. Looks like its trying to climb back up with low volume.
JH is trying every angle but the problem is there are a very limited amount of banks that are approved to conduct these micro-loans (which is what RALs are). Our EVER growing and over regulating government that we live under has their thumb on that and are actually what caused this fiasco to be honest. They (US govt) don't like this industry as they are constantly hounded by special interest groups who are out to protect the "little guy" from big bad corporations doing predatory lending. That and they have their cash cow to protect and kingdom to build with the IRS...more people filing directly with the IRS the more control they have.
This RAL fiasco is a shot across the bow of the industry and H&R Block and Liberty better not get complacent and all warm and fuzzy that they are immune. Jackson Hewitt was just low hanging fruit that was vulnerable to be dealt a blow for the "little guy". Big win for the government and the Acorn type special interest groups...oh but the thousands of people they are putting out of work and small businesses (55% of franchises) they are destroying should be worth it for them.
Approximately 35% of Jackson Hewitt's total tax season business will be conducted within the next 10 days. That business is very heavy RAL dependent..do the numbers.
All IMO,
DD22
I guess the main concern is if we see the institutions start to sell off. Might be a slim chance they get the RALs financed before tax season peaks although time is running out. Its just hard to imagine they arent trying every angle possible. Its possible todays market slide started shaking out some of the shareholders. I noticed yesterday when it hit 2.77 it bounced back pretty quick as my market order hit at 2.80- and closed at 2.94 so it appears someone is buying it up and we didnt see the volume we did yesterday. Thats just my opinion, THANKS
I'm out but may get back in here if I see 2.00 hold..we are in unprecedented territory down here so it is hard to see where the support might be other than historical psychological levels..i.e. 2.50, 2.25, 2.00 etc..
The corporation itself doesn't really have much of any real assets to leverage or sell off if it decided to go into chapter 11 bankruptcy. The best thing for this company would be for Cendant (previous owner) or some other large conglomerate/company to buy it out and operate it as a subsidiary company....and for the love of God invest in a good management team that doesn't wreck the company during their short few months tenure like the last few clowns .i.e.good ol' Harry.
I bet John Hewitt is laughing his azz off..maybe he will buy it back since it bears his name.
Earnings release for this quarter in April will be the final beat down IMO but we may have an oversold bounce or two before then.
imo,
DD22
I just got home from work and checked out my account. Looks like we hit a new low today, I will hold and ride it out as it dont look like the big players have started to sell off. Hoping they get the additional RAL funding, just dont seem like a company this established will stay down forever. This is basement prices for those willing to ride the storm out. Just my opinion.
Everyone trade this at your own risk. I thought that the news of not having a RAL available for 55% of their franchisees was already priced in from earlier news but apparently it wasn't hence the large drop yesterday from the 8K release.
This company will limp along now and try to suck every dollar of revenue it can out of this year's tax season because it faces a major crossroads this next year AFTER tax season. It's lifeblood is the franchisees ability to make revenue and be profitable to continue operations. 55% of the franchisees have taken a pretty sizeable hit against that revenue this year. In and by itself it isn't that big of deal BUT losing the RAL will pretty much cause a lot of franchisees to operate WITHOUT a profit for the year. That is a hard pill to swallow--as a small business owner to work for basically free for the whole year. Yes, there are cost cutting measures, payroll efficiencies, cutting hours of operation during less busy times blah blah blah but at the end of it all remains the same. Only so much blood from a turnip.
All IMO,
DD22
You dont think it will bounce back up? I got some at 2.80 and was planning on holding a few weeks thinking it will see the 4.00 s again.
New 52-week low 2.77 was created today! Sell the pos scam at the bid ASAP before it hits another new low 2.24 or even 1.87.
sounds like your a franchisee?
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