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Depends on what the Q looks like. No?
Seems like the stock is bouncing up again, out of the bottom, bit by bit.
;) I know there are buyers here but Q results often cause unfounded selling. Hoping it's factored in the pps already.
Do not stress
after full fiscal stressful think a good buy
Ewu, wat does that reflects on the PPS those estimates in your opinion?
I'm a bit nervous on the Q but it looks like we might get some strong EOD buying again.
Off topic, but since I mentioned it before, Playboy (PLA) spiked from $1 up to $2.87 in the last 2 days. Never bought it and don't plan on it.
PRSC: To Release Q3 Results Nov 04 [AMC]
Monday , November 03, 2008 13:00ET
Providence Service Corp (Nasdaq NM: PRSC) is scheduled to release its Q3 financial results on November 04, 2008, after the close of the market (AMC).
CONSENSUS ESTIMATES:
Q3 Revenue: $143.13 million
Q3 EPS: $-0.01 per share
PREVIOUS PERIOD:
Prev Q3 Revenue: $63.73 million
Prev Q3 EPS: $0.27 per share
ADDITIONAL INFORMATION
Original Confirmation
The Company will also hold a related conference call to discuss these results.
I'm here today, long beautiful Christmas or earlier
Gotta luv that vaccum needing filling;)~
Waiting for that sucking sound. LOL.
Resistance: 8.85
PLEASE SEE prsc strong buy http://stock.helpisland.com/quote.php?symbol=prsc
TABLE: Confirmed Earnings Expected Tuesday, Nov 4
Monday , November 03, 2008 06:35ET
The following companies are scheduled to report their quarterly earnings on Tuesday, November 4, 2008 according to a previous announcement
--------------------------------------------------------------------PRSC Providence Service Corp Q3 AMC $143.13M -0.01
Upgraded:
Channel Trend Inc. upgrades THE PROVIDENCE SERVICE CORPORATION from NEUTRAL to MOST FAVORABLE.
7:45 p.m. 11/02/2008 Provided by
On October 31, 2008 Channel Trend Inc. upgraded THE PROVIDENCE SERVICE CORPORATION (PRSC) from NEUTRAL to MOST FAVORABLE.
Providence has $40 million in cash and a $40 million credit line, McCusker said.
"There is no solvency issue with the company," he said.
(full article below).....
Tucson-based Providence stock falls 72.6%
Friday October 24, 2008 04:16:06 EDT
Oct 24, 2008 (The Arizona Daily Star - McClatchy-Tribune Information Services via COMTEX News Network) --
Shares in Tucson-based Providence Service Corp. plunged more than 70 percent Thursday after an analyst downgraded the stock. The company had warned Wednesday that it would post a substantial loss this year.
Providence shares closed Thursday at $1.26, down $3.35 or nearly 73 percent, in trading on the Nasdaq Stock Market. The company hit a 52-week high of $33.50 per share last October.
SunTrust Robinson Humphrey, an investment banking service, downgraded Providence's stock from a "buy" to "neutral."
Providence CEO Fletcher McCusker said the company is facing delays in payments and in contractual rate increases by several states, including California, that are struggling with their budgets amid the economic slump.
Providence warned of the budgeting problems earlier this year, but those issues are now weighing heavily on investors amid the current market downturn, McCusker said.
"As states react to their own budget crises, they're creating quite a panic on Wall Street," he said, adding that his company's reliance on government funding had been seen as a strength in the past.
Providence, which employs 11,000 workers nationwide, provides mainly in-home counseling and other services for state and local governments.
Medicaid pays for two-thirds of the cost of many of the services Providence provides, with the states providing the other third, but McCusker said some states have been balking at paying despite receiving Medicaid funding.
"They've drawn that money down; they've got to spend it and pay providers," he said.
Providence on Wednesday said that it expects to report a substantial loss when it reports third-quarter financial results in early November, due to an expected write-down to the value of Atlanta-based LogistiCare Inc., a non-emergency transportation company Providence acquired last year.
Providence also withdrew its earnings forecast for 2008, but said it also expects a substantial loss for the year. Various external factors, including contract talks with state and local governments that buy its services, make it difficult to project earnings, the company said.
LogistiCare, which Providence acquired for $220 million in cash, is suffering funding delays but plays into the company's current stock woes in another way.
The purchase boosted Providence's long-term debt to about $240 million at the end of the second quarter, according to regulatory filings.
McCusker said Wall Street also is penalizing "highly leveraged" companies, though Providence is in a good financial position despite its challenges.
Providence has $40 million in cash and a $40 million credit line, McCusker said.
"There is no solvency issue with the company," he said.
McCusker said Wall Street also is reacting to the company's withdrawal of its financial forecast and an earlier downward revision.
I'm anxious to see how this trades Monday. Especially the close. I've been adding all the way down and back up to .90 and am ready to pull the trigger at the first sign of any real weakness but have only seen slight consolidation followed by strong buying. I think you're spot on about the institutional ownership here and I think they are adding to their positions at these prices.
I've been involved with a bunch of multi-day gappers over the last 12 months, and this looks like one that could go above $3 in the next couple of trading days.
I'm thinking this could be trending up for a while. I'd like to fill that huge gap on the way up;)
Looks like they are only going to chop off 90-120 million from good will.
If you subtract the 120 million Good Will, you are left with 437 million in assets and 365 million in liabilities. ($72 million/ 12 million shares = $6 / share book value?)
Basically, I am just looking at the forceful gapping up of the share price each of the last couple of days, and the fact that this was at $5 per share just 8 trading days ago. Thirty dollars last 5 months??
Closed strong. MM sandbagging bids to make it look week and then come out of nowhere with large bids. I've watched L2 alot on this and it's getting bought hard.
Sold some other stocks to buy this. I am in at $1.21.
Q3 is supposed to be out AH Monday and they have a press conference scheduled the next morning. Not sure if it's damage control or not. Will be watching how it trades Monday. I think all the damage has been priced in but ya never know. Could be anohter surprise in the Q.
Nice call guys. I just didn't have any "available" money to play this one. Looks like it will still go up the next couple of days.
Yes nice recovery like LVLT
Both were tapped below a buck to scare out weak remaining hands
followed by quick good reversals. Need to see that. Else ends
up in DIGAland @0.20
Watching MCZ and KRY at lows for possible rebuilds. They got
sudden drops lately. MCZ esp has nice record of recovery many
times after a spike beating. KRY new for this kind of sudden
lowm, no recent record to go by. But it's acting ok.
Too thin but HH goes on runs just when least expect it.
XETA doing share buyback too. Nice cash maker at lows even after Ok Qtr. Dumpage by funds I gather.
Today was first day in many months that I sensed any decent
strength to a broad array of previous good penny plays.
Maybe not CJGH lol buy a watcher since CHINA just spinning
wheels too. THPW showed a little leg at .195 might retest
.23 Like to see some of these promising pennies do runs from
like 0.15 to 0.50 to return some of the risk takers back in
the game again. This stagnation is deadly.
g/l
PRSC has turned nicely.
Never thought I would see Playboy stock on sale for $1. Just do not know where the bottom is though.
There's so many stocks to keep an eye on right now, If this market ever turns up, we're going to have one big party with it.
hmm Balance sheet vs future
Not sure yet about the raw balance sheet of A/L.
Read the $17.4M award annual thru each yr 10.31.2012
Maybe that plus the increases in Revs & earnings are what
people are focusing on. Perhaps the cash flow and future
promise built in are the winning elements.
Hell of a year range tho! $0.68 L - 33. H
Heavy Vol Friday on selloff. Might retest 0.68 Also there
was analyst target cut from $8 to $2.50 That's a real reduction
to any upside moves! Esp bad when stockholders then sell off
rather than run it up inspite of downgrade.
I've noticed when a stock pops in face of those lowered targets
that the stock most often continues up. Rarely does it recover
tho when drops further in light of that.
SIRI in fact went on to announce RS in face of target lowered back when it was $1.50 and target cut.
Providence's LogistiCare Subsidiary Receives Notice of Award for $17.4 Million South Carolina Transportation Contract
8:46a ET October 10, 2008 (PR NewsWire)
The Providence Service Corporation (Nasdaq: PRSC) today announced that its LogistiCare subsidiary, the nation's largest coordinator of non-emergency transportation (NET) services, has received a notice of award from the State of South Carolina to provide transportation services to the South Carolina Department of Social Services for 28 counties under the state's Family Independence Program.
Services under the contract, valued at $17.4 million annually, should begin November 3, 2008 and contain annual renewal options that run through October 31, 2012. The award is subject to finalized contracts and various processing procedures and should be additive to earnings in 2009.
"We are extremely pleased to be able to serve South Carolina's Family Independence Program," said John Shermyen, LogistiCare's CEO. "South Carolina is committed to helping families become self sufficient and transportation is key to their access of program services and employment and training opportunities. We look forward to working with the state and our transportation providers to help make a difference in the lives of these families."
The Company also announced an additional social services contract award with the state of Michigan in the amount of $1.0 million annually. The Michigan award, while small, is notable because it is an " off-season announcement" as social services contracts traditionally are awarded to begin service July 1, the beginning of the state fiscal year . This contract is expected to take effect in January 2009.
About LogistiCare
If you subtract the 280 million Good Will and 95 million of intangible assets from the total assets, you are left with 182 million in assets and 365 million in liabilities. Wonder how much of that Good Will they are going to chop off? Amazing to see how quickly a $30 stock drops to a dollar. I am going to be watching this one because of all the institutional ownership involved.
................12/31/2007 3/31/2008
Goodwill 280,710,297 280,804,238
Intangible assets, net 98,254,118 95,836,056
Restricted cash, less current portion 6,461,000 5,031,301
Other assets 12,158,488 12,562,467
Total assets $ 551,983,655 $ 557,454,991
Liabilities and stockholders’ equity
Current liabilities:
Current portion of long-term obligations $ 8,950,000 $ 10,031,250
Accounts payable 14,035,128 12,825,622
Accrued expenses 36,448,283 40,535,813
Accrued transportation costs 24,576,510 25,344,474
Deferred revenue 4,061,760 3,223,199
Reinsurance liability reserve 8,344,747 6,342,952
Total current liabilities 96,416,428 98,303,310
Long-term obligations, less current portion 236,468,680 233,224,930
Other long-term liabilities 189,956 4,220,609
Deferred tax liabilities 30,599,952 29,766,004
Total liabilities 363,675,016 365,514,853
THis one is pretty much a no brainer I think.
It's funny how some stocks are taking hits like this. Some one who accumulates shares in a number of these companies is bound to come out very much ahead in the long run.
ditto. Goodwill chrg is nada, g/l eom
Well, we're up a bit AH. Looking forward to a nice bounce here tomorrow.
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