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Currently at a $22 stock price and an enterprise value of approximately $650 million and 2004 revenue projections of slightly over $700 million, Monberg believes Cubic Corporation (NYSE:CUB) is worth accumulating again. At the end of fiscal 2003 total backlog was $1.5 billion, an increase of nearly thirty percent year-over-year. Approximately eighteen percent of the backlog increase came from the defense segment and twelve percent from transportation. CUB is trading at about 18 times consensus earnings per share forecasts for fiscal year 2004 but only about 14 times fiscal year 2005 earnings estimates. At $22 per share CUB is trading at an enterprise value to estimated revenue of 0.93 and 0.70 to 2004 and 2005 respectively, which are historically attractive looking ratios. Both the P/E and EV/Revenue multiples will come back into line if the company demonstrates better margins going into the second half of 2004. |
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| aus der Diskussion: | aggressiv kaufen |
| Autor (Datum des Eintrages): | frank55 (12.03.04 18:08:57) |
| Beitrag: | 109 von 135 (ID:12417282) |
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