GPN
I thought the quarter was solid. despite, the possible slightly weakning consumer outlook and significant headwind from FX that has now materialized, they still kept there earnings guidance. This company used to trade at about 28 times earnings several years back (Not that they should trade there now or ever). Now they trade at just about 8 times this year and about 7 times next years estimates. They grow earnings pretty consistently at say 11-13%, and revs about 6-8%. I believe the business valuation would be fair at 15 multiple, but a 12 multiple in a market that has a multiple north of say 20-21. I feel this stock simply doesn't get the credit it deserves. When that happens I have no idea. But the company does consistenty good, there growth and consistency on the earnings continue while the stock is still near 52 week lows. Even a 12 pe could get us to $160 or so over the next year. All is just my opinion, and I could always be wrong though.
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