Actually Petrejus said "EPS for 2013 should be around $1.40."
Viking did include Q1 2014 for ttm eps, adding that with a bond offering, 2013 eps could "easily exceed $1.20."
There are many possibilities and timing for a bond offering, ranging from they can't get one together to a hybrid bond/equity deal, to one with an unknown number and terms for warrants, to one that does not take effect until say March 2013 (after some equity financing is done). Or it could be done late this year, but Solomon issues 15M shares anyway later in 2013 for any price between $.80 and $6.
Personally, I would favor an issuance on top of a bond deal, if in the upper half of that range.
An additional catalyst in May 2014 will be the preferred share payout, and likely replacing that dividend policy with a quarterly cash payout, perhaps targeting the same 12% of income.
And we will know a lot more about any possible spin outs which could be worth $.85 by itself, half in cash to shareholders. This is perhaps the biggest determinant of p/e multiple at that time.
