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ITT Educational Services Inc. Message Board

  • oxledge oxledge Aug 21, 2012 3:33 PM Flag

    Remarkable observation

    I was just looking over the ESI long term stock price chart, going back to 2003. ESI shares in 2003/2004 traded at $35 (although the shares were single digits in the early 2000's). What did ESI earn in 2003 and 2004 was my immediate thought? I figured that given that ESI earnings are targeted for a range of $8 - $9 this year and the stock is at $32 (the 2003/2004 level), the 2003/2004 earnings must be in the ball park of $5 - $7 per share, or thereabouts.

    Needless to day that I was completely shocked to see that 2003 and 2004 earnings per share were $1.27 and $1.94 respectively.

    So here we are 8 years later and ESI earnings have increased 5.7 times and the shares are at the same price. And during that time we went through an economic collapse worldwide due to the housing bubble and many leading companies have seen their earnings completely wiped out (eg banks, investment banks, GE, and so on and so forth).

    No question, ESI has the monkey on its back right now, but the monkey does not stay there forever.

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