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Impac Mortgage Holdings Inc. Message Board

  • davidchengus davidchengus Nov 1, 2012 12:24 PM Flag

    Comparable Company Analysis

    As a proxy for valuation, the best comparables are Walter Investment Management, Ocwen Financial and Nationstar Mortgage, the cheapest of which trades at 10x forward earnings and something like 30x trailing as the industry is turning a corner after a very long time. Also, when IMH was earning about $1.50 per share per quarter during the peak of the housing bubble, it had a stock price in the $200-$250 per share range. Unfortunately for alot of current holders, their cost basis a EXTREMELY high, which should lead to a dispropensity to sell at $20 per share. IT will take time, but its rare to find stocks this compelling with almost everything being perfect.

    GLTA

    Sentiment: Strong Buy

 
IMH
6.02-0.0200(-0.33%)Nov 26 4:00 PMEST

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