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Corrections Corporation of America Message Board

  • hdcafe hdcafe Jun 2, 1999 12:46 PM Flag

    IS PZN A MOMENTUM STOCK??

     

    To the down side this ole dead horse is falling
    to book value. Maybe, some MM's may enter the
    picture with some buy orders before to long..We could use
    all the support we could get...This dividend of over
    18% will no doubt be cut to about half that...Any
    news on the bond yet?

    This topic is deleted.
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    • The only dividend that has been "promised" is the
      one to be paid on June 30. That one will probably be
      paid, but there are no other "promises" out there that
      I know of.

      Why don't you spare some poor
      family the heartache of having to deal with your
      personal weakness and just go to jail first why must you
      feel the need to hurt others because you were
      disappointed. The jails are full of people like you already.
      Maybe you should consider counseling.

    • $482 million in current assets. $1,141 million in
      current liabilities of which $620 million is owed to a
      bank credit facility. Those junk bonds are just going
      to pay off some existing loans and they will never
      generate any additional revenue. By the time the tennant
      is paid and the preferred shareholders are paid and
      uncle sam gets his cut that will leave about 22 cents
      for every share currently outstanding. Hence, my
      estimate of an 80 cent dividend.

      To anyone that is
      thinking about buying this stock or has already bought,
      this company is very speculative. Chances are it won't
      go bankrupt but chances are very good that the
      dividend that looks to good to be true will have to be cut
      in order for the company to survive.

      You want
      to call my posts stupid,fine, I don't care. I'm just
      trying to read between the lines and trying to see what
      is going to happen before it happens. I make a lot
      of money buying companies that get shredded by the
      market. I bought ASND at 24, MWL at 8 and VRC at 5 1/2.
      Now, if by some miracle (and I think it will take a
      miracle) the dividend is not cut and is deemed to be safe
      then all those people selling yesterday are going to
      feel pretty stupid for selling and will buy back in to
      lock in that healthy dividend before the price rises
      too much.

      There is just way too much risk to
      be buying here. Management competence is in
      question, the financial strength of the company is also
      questionable and that fat dividend (to me anyway) is in
      serious jeopardy. Fridays action after the drop to nine
      may have been a dead cat bounce. You only have to
      look back a couple weeks on the PZN charts to see what
      I mean.

    • that's 29.46 cents per share. Now back out what
      the debt service would have been at 10.25% and you
      will have the difference (about 3 cents a share?). Now
      if Doc can put this to work and generate half a
      buck, who says capitalism doesn't work?

    • hmmmm...now I'm not a licensed operator of this
      calculator here,
      but I'll give it a shot:


      $300,000,000 x .115 ~= $34,500,000 (thats per year,
      right?)

      shares outstanding ~= 117,100,000

      debt
      service ($300M bond issue ONLY) ~= 29.46 cents per
      share


      OK, check my math, you guys: did I get the
      decimal point this time???

    • 15 minutes ago...head equity trader at major firm called leh bond desk while i was on the phone...i also hope it is true...and have no reason to doubt..the book was closed

    • I will committ a crime and go to their
      jail.

      That is how confident I am that ALL DIVIDENDS PROMISED
      THIS
      YEAR will be paid.

      By the way, even if
      Bond issue is priced at 11.5%, you
      are only
      talking .03 a share in FFO...FFO now covers
      dividend.
      So enough of the swimming with the shark
      non-sense...

      I JUST DONT WANT TO HEAR IT ANYMORE WITHOUT FACTS.

    • This would be known, if true, as snatching
      victory out of the jaws of defeat. If the company could
      get $300 million after all this delay, it would be a
      major boost to the company. How sure are you of your
      source, and if you have updates, please post. Thank you.

    • there are a lot of people following this thread,
      whether they post or not, who want to understand what is
      going on. Posting nonsense like swimmingwithsharks just
      did, and several others, is a waste of everyone's
      time. If you have to bash Doc, or privatization, fine,
      go ahead and vent. But don't post stupid or
      erroneous information.

    • to be priced tonight 7 years 11.5 this came from leh trader at 1.46 central time 300 million

    • There is no way this company can keep paying out these big dividends. I expect the dividends to be slashed to 80 cents or less by the end of the year.

    • View More Messages
 
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