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CIFC Corp. Message Board

  • pembroke31 pembroke31 Mar 29, 2012 12:39 PM Flag

    A Good Quarter

    Using AEBT (adjusted earnings before taxes) as a measure of ongoing earnings power, DFR reported earnings of $.32 for the quarter, or $1.29 annualized. More importantly, the company has $100 MM of investable cash to deploy. $10 MM goes into a share buyback which produces an immediate 25% return when buying stock at 4X earnings. If they can earn 15-20% on the balance,not an unreasonable objective in their business, earnings power should exceed $2/share once the cash is deployed.
    Not sure what multiple to put on $2 of eps, but stock looks cheap at current prices.

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    • This company needs to a better job of providing clear and concise financial information about it's balance sheet and

      Might be a great buy right now,,,,but no one will understand...


    • Yes it was good quarter, but more importantly they announced the closing of their first CLO in the first quarter! Another 400 million in AUM! With as small of a free float of stock and with the 300,000 share short interest if they in fact use the $10,000,000 to buy shares we could see a double from here. We'll just have to be patient.

      • 1 Reply to pantagle58
      • I, like many of the shareholders I suspect, couldn't really understand the quarterly report. If PEMBROKE31 is right in his analysis and CIFC (DFR) can earn $2/share on an ongoing basis, then it would seem that it should be selling for more than 3 times earnings.

        Also, it seemed to me that the buyback was up to $10 million. If the stockprice does shoot up in the next month or six weeks, then will management still be so anxious to buy back the stock?

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