Scientific Games Corporation Message Board
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I'm a bull, but I have to agree that it is very disappointing. That said, I used to work at a Big 4 firm and I can tell you that their accountants would have had to give them enough assurances on the integrity of their numbers before they would commit to a div of .09 for each of the third and fourth quarters. My guess is that we're getting close.
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It matters a lot for credibility reasons. They've got to keep investor confidence up. Any delay will hurt the stock considerably until they do file and maybe after that unless the numbers are blowout. They need to come through for us and scare away the shorts once and for all.
Sentiment: Strong Buy
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Look folks, hard for even the shorts to argue that the phase 3 results weren't really good. The institutional investors jumped in yesterday in a big way. The volume of 22 million shares is almost half of the stocks float of 50 million. Fact is, there just aren't that many shares available out there. When other institutional investors have a day or two to digest the implications of the results and measure it against what's out there in terms of other drugs, there is going to be more buying and they won't be taking shares out of weak hands. It will almost spike significantly higher over the next few trading days and settle somewhere between where it is now and the near term peak until more info is available or upgrades start flowing in. This is a compelling story and there just aren't that many shares up for grabs. I'm not seeing the big players bailing although a small traders may dump shares for a quick profit. Don't fight the tape...and in this case the relatively low number of shares and compelling results.
Sentiment: Strong Buy
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The action in the stock looks pretty good today. Still some weak hands selling, but the buyers are stepping up and then some. With the shorts probably not adding to their positions due to the 9 cent dividend coming at them and the buyers keeping up with the sellers, this thing feels like it'll be going higher. I wouldn't be surprised to see CIM trading at it book value of $3.42 by Monday. If we get a short squeeze, maybe even around $3.5 or so. If a large hedge fund steps up there is no telling how high this thing might go before settling. Won't even guess at the price action in that event which will also force more shorts to cover. If you're long CIM time to sit back, be patient, and enjoy the ride over the next month or so.
Sentiment: Strong Buy
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Not unreasonable, but maybe a bit optimistic in the absence of a takeover. Almost two times book for a company that has a black eye and won't be able to file their 10K on time. I'm thinking more like $4.25 to $4.50. We'll approach $5 with good numbers from the 10K in May and maybe north of that when the dividend is reevaluated for the third quarter if, and only if, it's raised. I won't be heard to complain though if it does hit $6, just not holding my breath.
Sentiment: Strong Buy
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Where did you hear that Kass is a buyer?
Sentiment: Strong Buy
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We knew about the 9 cent div, but an estimated GAAP book value of $3.42! That's huge. Given their errors in the past, I'm sure their Big 4 accounting firm had to get comfortable with the number and sign off on it before it was released. Up over 2% in the after hours. That's nothing compared to the jump the shares will get once the smart money piles in. When the analyst upgrades come this baby should be in the $4-4.50 range. With a book value of $3.42 and the sizable div, a stock price of 1.25x book value isn't unreasonable, and may even be low, especially since a fair amount of the uncertainty is behind it. At 1.25x book that's a stock price of $4.28. Only a matter of time now folks.
Sentiment: Strong Buy
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Hang on as they beat rev estimates and have a significant backlog. Wasn't all that bad. Look for $8-9.5 over the next month or so. If they are able to recognize the revenues in question during this quarter, they should beat on the bottom line in a significant way.
Sentiment: Buy
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It was disclosed for the first time in the 2011 10K filed after the close on March 8. The notion that the div has been known for over a month is nothing but spin by a very uncomfortable short. Any company this size that is going to pay out approx $100,000,000 in divs over the next four months is not only very confident, but in great shape. To the shorts, I say get ready to pony up the divs! I'm with Najarian, Cooperman, and the West family on this one.
Sentiment: Strong Buy
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Just a hunch, but I think this stock will rebound after the call. It was around $10 last Friday, but $6 strikes me as too low. I don't see how they come out of the call looking worse than they do now. I wouldn't panic. I may even try to buy some cheap calls with a 7.5 strike if the stock goes into the $5's once the institutional investors head for the exits. This should rebound and be okay once the smoke clears.
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GLDD issued a press release stating that earnings will be out after the close today. I had been calling for some time now to both the head of Investor Relations and the CFO and have not received a single returned call. No news, no one was available. As late as yesterday afternoon, the woman answering the phone said that they had been in a meeting all day. When earnings have been delayed for about a month with no explanation, nobody returns your calls, they've been in a meeting all day and then, they issue a hasty press release a few hours before releasing earnings, look out below - its time to buy protection. I can't ever remembering a surprise to the upside with such a lengthy delay. Just bought some very cheap March 7.5 puts just in case GLDD gets hit hard. You can get them for about .15-.20 per share as cheap insurance. If you're long this stock, better have protection against a disaster.
Sentiment: Sell
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I Ican't speak for Cramer except to say he recommended it,.
Sentiment: Strong Buy
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I know a lot of you guys are short and want to slam the stock but there are three things that make me want to invest my capital in CIM--1. Leon Cooperman bought 50,000,000 shares, 2. Jon Najarian recommends it, and, 3. There are two lines buried in the 10K saying that the company will pay 9 cent dividends in both the first and second quarters of 2013 --that's 18 cents over the next four months or approx $100,000,000! You don't payout $100,000,000 in divs unless you're pretty darn sure that you're in really good shape. $100,000,000 divs equals a ton of confidence on the Board part and I'm sure was disclosed in the 10k only after consulting legal. For those who follow Cramer, he likes it too. I'd like to hear what I'm missing from the shorts?
Sentiment: Strong Sell
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Did anyone notice the last few lines of the 10K before the signatures?! They've announced that CIM will be paying a dividend of 9 cents for both the first and second quarter (18 total)! That's confidence folks as cash flow must be strong. As soon as the big boys figure this out,I'm looking for $4-5 short term and then another run when 2012 is filed. Giddy up!
Sentiment: Strong Buy