FLS was $135.09 on 7/30/8 when they last reported and beat estimates by $0.64 and sales were up 24%. Nice haircut since then. FLS raised FY08 guidance at the time, EPS $7.20-$7.50 over their prior guidance of $5.90-$6.20. I think the hedge funds has finished crushing FLS and the share price presents a bargain. I could be wrong, but not expecting much more downside from here.
In todays market, which should be certified insane as it is not following any logic, one can never predict or hope for anything. It is what it is. Hedge funds are dumping shares and draining the market and investors are running scared as we are all standing on quicksand. This is an excellent company and should be trading at many times its current price. Best,
I expect some continued short covering into conference call...then some selling prior to guidance. However, Q3 EPS $2.04 was at high end of guidance and Revenues were up 25.5%. FY EPS guidance reaffirmed at $7.20 - $7.50. But notice how analysts raised FY eps to $7.63 I think (need to double check). Bookings were up 30% and Backlog was up 35%. All very good. I will be selling today anyway for a very nice profit only because the election is still ahead and I really see profit taking into it. I don't think many investors want to "share the wealth" and be hit with a higher cap gains rate. I for one do not.
i agree however, it is what it is. have to wait for the call tomorrow. did not understand the blurb from in play that estimates are in line for 08 but they needed to back out .60 for currency; also want to hear about backlog, whether contracts are canceled or curtailed and looking forward; these earnings however look good considering and the stock is still over sold
i agree with you but unfortunately if earnings are better than expected and we get a bounce it will be sold; timing is everything; even those few companies with decent or good earnings get sold; looking for a trade