RE:I just don't knowESN is not alone in the ulta-value category.
CET...no debt, 15M net cash and it trades under 1/2 of book value
HWO-no debt, net 20M cash....trades under book val..pays a 5.4% yield!!
CWC...20M net debt...mkt cap 75M...trades under 1/2 book value
There needs to be more consolidation, hostile bids if necessary..a la TOT's SVY bid. HWO's chairman/ceo said on their cal that he hoped we stay lower 4 longer so as to spark a real wave of consolidation.
I mean, ESN senior mgt must be getting tired of seeing their stock options expire worthless for the past 5 years now.
Amadeus2011 wrote: Well, I've been a booster of this stock for a number of years now and I've watched it fall through the floor from a high of about $3.25 four years ago. And now I'm seeing two solid quarters in a row and the energy industry is getting back on its feet and yet this stock keeps sinking. I just don't understand. It almost seems to be inversely proportional to the sector activity and outlook.
Have a look at the numbers and you'll see that ESN is a solidly run company that survived a brutal 3 year downturn when many of its peers were sold or went belly up. They managed to weather the storm by proactively getting in front of the downward spiral with staffing cuts, wage rollbacks and tightly controlled costs. And yet the market seems to be punishing them for it.
Am I missing something? This stock should at least be up around $0.80 I would think.
What gives???