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Colfax Corporation Message Board

  • shortofaname_99 shortofaname_99 Feb 6, 2013 8:10 AM Flag

    CFX fair value $20

    Only $0.50 of EPS. Puts out a bogus proforma EPS excluding regular operating expenses as proforma and including one time tax benefits.

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    • Looks like the company and insiders are making use of this irrationally high valuation to sell shares. Watch out below!

    • Fully agree. Horrible earnings report and even worse Conference call. Adding back one time tax benefits and legal expenses (this is a new one to me, none of their competitors consider asbestos legal expenses to be exceptional) to show an improved operating income comes across as desperation. Growth prospects for 2013 look poor, as are athe incremental margins. Even with the much heralded cost reduction plans, their operating margin %'s will still be below their peers.There is no reason to give this company a higher multiple than their better managed competitors. Even giving a market multipe to 2013 earnings will bring you below $30. I expect the analysts to start downgrading today and the price to start dropping back to $30 over the coming months. Best strategy is to buy puts for May or June which are currently cheap. If the 1st quarter earnings are again disappointing then the stock could completley tank as the only reason it currently trades at this multiple seems to be a belief that this management team can perform wonders. Based on what we have seen over the last year, I really question this investment thesis.

      Sentiment: Sell

 
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