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timhyma

02/06/08 6:46 AM

#12966 RE: timhyma #12962

bloated balance sheet

What? I show their tangable book around $9.80 per share, not any worst than most big companies. using a 3x book multiple- gets you just under $30ish

Their reference of CX trading at a 33% discount to industry on earnings being justified blows my mind. Even if you took the low end of guesstimates at 2.61 (the high end is 3.62), and give a fair P/E of 12 (still below industry average), you get over $30.