It’s been a while I checked this message board. Good to see that it exists now after a while. The earnings (Q4, 2013) should be released today. It would be nice to start some meaningful discussion here.
Good look longs!
Yes a very nice Q1 report. Impressive sequential improvements. Surprised not much reaction in the stock price. Looks like fully taxed Q1 earnings of .15/share excluding the derivative loss. Easy Q2 comp coming up. Hard to know what to expect since margins are so small. But if Q2 is similar to Q1, I think ERS will move up to $5-$6. So looks undervalued in low $4's. Tangible book value is $5.17 and they also pay a small dividend.
Nice volume indeed. There is liquidity at about $4.10 level building strong base. And we know it’s not company buying back shares.
In July 2008, the Board of Directors authorized the repurchase of 2 million shares of the Company’s common stock at a maximum price of $3.50 per share.
2013 earnings itself explain the share price. Nothing to be too excited about. Decent revenue numbers and very low margins.
The last comment from CEO, good situation with aluminum market, expansion to steel business, reliable 10+ years of dividend give us a hope for good 2014.