Another ViewHave been watching SXP for awhile and took advantage of today's weakness to open a position. GLTA
Is the sell off overdone in SXP? I know it had a good run and some investors are taking profits, but it’s still cheap and the CFO leaving after a short stint doesn’t seem like it should be that big of a deal.
March 01, 2023 It does look overdone. The dividend increase is a positive sign, and at less than 6X earnings the news looks priced in to us.
And earnings.....
February 24, 2023
EPS of $0.31 was up from $0.24 the prior year, but short of estimates of $0.37. Revenue was up 19% to $78.8M which matched estimates. The dividend was raised 17%. The company plans to focus on cost savings and integration of its acquisitions this year. With the stock way up YTD and news of the CFO departing, investors decided to take some profits. The stock remains very cheap and the dividend news certainly indicates management confidence. (5iResearch)