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Frisch's Restaurants, Inc. Message Board

  • algo41 algo41 Oct 17, 2003 7:49 AM Flag

    Muted eps improvement

    After backing out workers comp adjustments, eps up from .53 (58-5) to .56 (65-9). Of course last year's .52 was a big improvement over year before.

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    • Not bad with rising food costs. Golden C numbers were pretty heartening. They are outperforming other restaurant stocks like Wendys and Darden in terms of bottom line performance. Looksl like they will earn over $2.00 per share easily this year (especially with economy picking up a bit, but not too much). I now beleive they will earn $2.10 or so. They probably deserve a 12.5 multiple given their sustained performance on that 2.10 which would put fair value a little north of $26. If they were larger cap like Wendys they would get a 15 multiple. Wendys goes for 17 or so and they don't have much better growth prospects going forward (saturation).

 
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