Post by
RetiredSteelMan on Nov 10, 2021 6:10pm
Q3 Results:
Q3 results are outstanding.
9 month net income $1.02 per share. If we assume Q4 equal to Q3, yearly income $1.49.
Dividend increased to $0.08 icluding special dividend.
If dividend kept at $0.08 per Q, dividend would only be 21% of earnings.
Look for dividend increase in 2022.
At 8Xs earnings this stock is worth close to $12.00.
At 10X's earnings, close to $15.00.
This sock was a cash cow back in 2007 & might be heading that way again.
The offer a few years back to privatize the company at $2 /share would have been a steal.
If anyone is still interested it'll cost a few more bucks.
Hang on to this one, its a winner.
Comment by
Stocker46 on Nov 11, 2021 7:26pm
Strong quarter. To maintain their 8.1 price/earnings ratio (prior to this Q) they should be trading at about $8.35. Even at that, a P/E of 8.1 is rather low considering forecasts for a robust market for steel products and record steel prices.
Comment by
Stocker46 on Nov 12, 2021 11:53am
Can't believe the SP in going down today (a little profit taking I guess). One can reasonably expect another strong 4th quarter with at least a 40 to 50 cent EPS (47 cents in 3rd Q). Even 40 cents will result in an annual EPS of $1.37. Maintaining a P/E ratio of 8 = a share price of $10.40.