The folks at the correctional facility I visited are vey upbeat! They cite a proven track record and growth such as: 1) 60MM 1600 bed started in Feb.99 in Florence Arizona, expected to open in early 00 and generate annual revenues of 31MM. 2) 37MM 1104 bed Tallahatchie Miss. facility projected for completion in 00 and to generate 37MM/year. 3) Two 1524 bed 45MM facilities to be completed in July 00 to generate 23MM each per year, etc., etc.
Bottom line is I feel comfortable with what for me is a large stake and plan to take advantage of this fire sale by accumulating.
Glad to hear such a strong conviction to your investment. I see you have done your homework and I wish you well .As a long position it will have better days. However, in the mean time, look for this one to fall upon darker days until you are able to see dawn.
I agree that it will take some time for the analysts to issue "strong buy ratings" again on PZN. However, I find the company fundamentally strong and well run. The dividends, including the special dividend in Dec., will be paid;and, will increase at 15-17 percent per year for the next 4-6 years. In view of the market valuation and PZN growth prospects, I continue to find this stock very attractive.