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Oppenheimer Holdings Inc. Message Board

  • superbmomentum superbmomentum Nov 5, 2009 1:02 AM Flag

    A forward P/E of 6.98 times!

    I was looking at the company’s key statistics on Yahoo Finance….did you know this stock has a forward P/E of 6.98?!!

    So I wanted to know who these analysts are…estimating a 3.67 EPS for ’10. Well as it turns out it is based on ONE analyst’s estimates. This analyst had an estimate of 0.68 for Q3… off 13%…..so much for the company’s simple business model…operations don’t appear that straight forward… at least not to this analyst…

    With that said…and even though this is based on just one analyst’s estimates, it still has its importance. A forward P/E of 6.98 times represents 0.39 times the current multiple of the Russell 2000. So based on this analysis this stock could potentially more than double next year!

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    • One of the smartest managers in the Business. Lowenstein manages costs unlike any other.... Most of the time he manages risks as well.

      • 1 Reply to kunjamukkid
      • He's a liar and a criminal. He and his firm put thousands of clients into millions of dollars of Auction Rate Securities by telling them it was as good as cash. Now those people are screwed, with Oppenheimer stonewalling them, when EVERY other broker and bank has already redeemed their clients.

        He should resign in shame. Hopefully Massachusetts takes away his license in the upcoming hearing.

    • YAHOO IS NOT what you want to go by. They are wrong most of the time. LOOK at WEN they say 24 bucks a share...BS!! it will be lucky to get to 6 bucks. NEVER GO BY YAHOO.

      • 1 Reply to a36ftsloop
      • I wasn't going by what Yahoo! shows as the company's target price ($49)...my analysis had nothing to do with price targets....I think you misinterpreted and I probably should have been more clear. The annual EPS estimate was $3.67. The price was about $25.50..so the forward P/E was about 7.

        If one accepts that this stock should be trading close to the average P/E of the Russell 2000 (17), then it would be fair to assume that the price would double if earnings were in-line with the estimates.

        However, the company has released earnings since then and it now looks more likely that it will earn closer to $2 rather than $3.67. Based on this analysis the forward P/E is $24/2=12 if we assign a ceiling of 17 P/E then we can assume that the highest this stock can trade is $34.

        I hope it is clearer now.....

    • Maybe their upcoming hearing in Massachussets is going to take a toll on them. They are being threatened with losing their license there, because of fraudulently selling Auction rate securites as cash equivalents. And with selling their own holdings while having clients buy them right as market was collapsing.

      I hear their liability on these things FAR exceeds their market value.

    • It's been less than a month...and the forward P/E has gone from 6.98 to 11.41. Although the stock is up significantly, from 25.50 to 32.87, the reason for the change I believe is...the analyst has now revised his 2010 EPS estimates downward from 3.67 to 2.88, yikes!

 
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