Headley, the other stocks in this "China new media ad" space are trading up at 18-25 P/E multiples. I've said it over and over, the only reason that CCME is still trading down around trailing and forward P/Es of 6 and 5 is b/c they're "the new kid on the block," and so are being discounted by the mkt until they further "prove themselves." One would think that strong recent qrtrly earnings along with several years of fantastic growth and the fact that two independent analysts and Starr Int'l have come out strongly in favor of CCME would have done the trick to raise the P/E.
My own opinion is that the next 10-K report will create a sense of CCME's having "matured" as a peer to FMCN, et al.
In the meantime, before and beyond that next 10-K, there are lots of positive catalysts coming along, as we all know:
--more airport shuttle bus contracts to be announced;
--other revenue streams likely to be announced;
--guidance for 2011 (and Jacky has been told by shareholders to come up with more realistic figures reflecting the strong growth, not some excessively low "hyper-conservative" figures);
--more analysts getting on board with buy recommendations;
--more mainstream financial media coverage and IBD listing when pos. momentum returns;
--likely short squeeze;
--and yes, the dividend almost surely to come (likely to be announced early in the year)
