estimate was just raised again, from .47 to .55 for the third qtr, which in turn moved up the fy '15 estimate to $2.70, and the fy '16 estimate moved up a penny to $2.85.
"The Company continued to experience lower than anticipated sales during the third quarter of 2015, which calls into question whether sales levels will recover to historical norms during the fourth quarter of 2015. As a result, the Company's liquidity position has not improved during the third quarter of 2015. In light of these developments, the Company is taking a more defensive posture and developing plans for managing operations through a more extended period of diminished sales levels than originally expected. The Company has implemented its third phase of cost reduction measures, which are anticipated to further reduce annualized expenses by approximately $750,000. As noted in our most recent prior Quarterly Report on Form 10-Q, if anticipated operating results are not achieved, further reductions in operating expenses may need to be substantial and could have a material adverse effect on the Company's ability to achieve its intended business objectives.
In addition to seeking to refinance its outstanding indebtedness with Santander that is due on February 1, 2016, the Company is also evaluating other options to resolve its liquidity issues, including exploring alternative sources of additional capital. If Santander does not agree to extend the advance rate beyond November 30, 2015, then the Company will need to secure alternative source of additional capital or refinance the Company's existing bank debt in order to maintain sufficient liquidity to continue operating the business over the next twelve months. While the Company believes it will be able to extend the advance rate, refinance and find alternative sources of additional capital, there can be no assurances that a refinancing, extension or other sources of additional capital will be available on acceptable terms or at all. "
..in the past few days...so overall average estimate raised from .29/share to .47/share. I would think thats in response to what seemed to be pretty good weather....no hurricanes and not too may storms, in the third quarter.
I thought Hillary did a great job last night and came out the winner. Sanders was good too, but Hillary showed she could be funny, likable and tough....something she hasnt really shown in a long time. And I dont like Hillary....but she won, imo, and certainly performed better than any of the Republicans. Actually, Sanders did better than the Repubs as well.
But, imo, Sanders has no real chance....as long as Hillary doenst mess up. She has really turned herself around.....just a year ago, she looked much older, and confuses...now, she seemed smart, funny, and in command. Plus Bernie would be 75 years four months of age at innaugaration. Thats almost six years older then Reagan at his first term, and Reagan is the oldest president we've ever had.......Sanders is just plain way too old imo, with no chance at a second term.
Actually, thats a huge weakness of the big three Dems...Hillary Bernie and Biden. Biden would be over 74...almost five years older than Reagan. And Hillary aint no spring chicken, she'd be 69 years and three months old at innaugaration, just six months younger than Reagen.
Its an old democratic pack...I wouldnt want to vote for anyone that age.
huaua,now I see you're just a farce. Just went to TDA and used your method, going to Events, and again it states that the q3 earnings estimate is .29/share. You better call TDA and ask to have your account updated. Are you attempting to pump FNHC up with false information? It doesnt need your help.
Here is a cut and paste from TDA login, FNHC Upcoming Events:
"Upcoming Events FNHC fiscal year ends in December
OCT 28 2015
Q3 2015 Earnings Release
EPS estimate consensus
$0.07 to $0.67
Previous year's Q3 actual
YOU ARE WRONG!!!!...I am a premier client of TDA with over $2 million bucks there in my investment account. I use Think or Swim for trading on TDA. But, login to TDA, enter 'Research', enter 'Overview', in search bar enter 'FNHC', enter 'Earnings', enter 'Quarterly'... and voila, you get the correct earnings estimates for th third quarter....here is the cut and paste:
"Upcoming Announcement (Q3 ending 09/2015)
Q2 Non-GAAP earnings $0.80 Estimate increased in year
leading up to announcement
Q3 consensus estimate $0.29 Q3 consensus estimate is lower
than previous year"
You see, it says q2 is .80/share and the Q3 consensus estimate is 0.29/share....which is what every other source says.
You can continue to be a bore, or try to figure out what you are doing wrong.
your wrong huahua...not sure what your looking at, but I'm looking at TDA now, and the estimates are what I said before.....the same they are on every single outlet, including yahoo. You should check again, b/c you are definitely wrong. BTW, they did make .60 in q1 and .80 in q2, I think thats must me where your error is. But all outlets have them at a .29/share estimate for q3.
You can repeat what you see, but either what you are looking at is wrong, or you just made a simple mistake.
well, KTCC doesnt really specialize in anything...they are just a smal/midsized general player in the field. So a purchaser doesnt get anything unique....except for expansion into Mexico. They do get a good book of business and decent mangement, but they probably don't want those things, or at least they dont want to pay much for it. Since 1) they already have decent management and dont want more high paid execs, and 2) they want the Mexican facilities to move their existing customers into that are currently in Asia. They don't want a full book of biz.
Thats why, imo, KTCC starts to become a more attractive buyout target, at bargainy type prices.
I had a limit order to sell shares in my taxable account but it was too high. At $8, I dunno. I'm always on the lookout for sales to pickup some losses for tax purposes, and if I had a larger position I might be more incentivized to sell near the open........and then in thirty days take another look.
At this point its below tangible book...hasnt been there in a long time.
I have argued previously, when KTCC was in the low twelves and low teens, that those in the camp that KTCC was a possible buyout target were wrong, I didnt see why anyone would want to pay a premium for KTCC higher than those prices when they could just go and buy a factory in Mexico exactly spec'd to their needs easily.....and I think I was correct on that one. But at these levels, under tangible book, KTCC is becoming more attractive, but still probably needs to go down a bit more for someone to want to go after them.
great insight commandor! Unfortunately I didnt see your post till after the close, and I was planning on lightening this morning. Fortunately, it was not much more than a 1% position for me.....now its under that.
Janney upgraded this morning to a buy! But your estimates are wrong, and I just checked my TDA estimate and it agrees with yahoo....they are estimating .29/share in the third quarter, and UVE is at .57. You are looking at q2.
...cant find a price target yet.
I think they should have a strong 2016 based on expected growth
I also like investing in this sector. I made some excellent trades on SMTX, buying low and selling for a nice 30% gain over a short period, Ive made lots of money on SGMA over the years....and a bunch of others. And with KTCC recently....the past few years.. even if things aren't going well....I have still been able to trade for money. Its a good sector for making money.
catjorny, Q3 earnings are by far seasonally the worst for Florida insurers. For several reasons, number one, its the quarter that has the most storms, leading to a higher level of claims (even if no 'hurricanes' hit). And secondly, reinsurance contracts are renewed on July 1, which is their biggest expense. We already know that UIHC' reinsurance is going up (mostly due to growth). Reinsurance increase hurts in q3 the most since the amount is the same each of the next four qtrs, but policies are growing over that time.....so reinsurance per policy decreases over the course of the year as policies increase.
In any case, everyone knows this, I mean their analyst estimates reflect the seasonality. So these lower earnings shouldnt negatively effect UIHC share price.
But....we do know that starting in 2016 UIHC' expense levels will decrease....as they have stated many times. The costly initiatives to provide better service and big upgrades to their computer system will lead to higher profits in 2016. Plus they stated that the purchase of Interboro will be accretive to earnings in 2016.
So long as UIHC reiterates that 2016 will show great improvement, the share price should actually go up. I mean we are just a few months away from those significant earnings improvements.
...should be accretive to earnings in 2016. They said they paid 1.4 times book, which seem real cheap for a buyout, and they paid about ten times earnings. But they believe that their are great synergies, and they expect to be able to dramatically lower Interboro's costs.
Looks like a good deal, although UIHC was cheap enuf that I'd have preferred no acquisition. Still....was a pretty good one.
And they also said that while they used a good chunk of cash, they do not expect to raise any cash by way of a stock offering the short to midterm. They said that they believe their stock price is very undervalued and would certainly not do an offering near current prices (with the exception if they found an unbelievable bargain company to purchase..but they dont believe that will happen.)
puesta...Darren, or any other CEO for that matter, should not be giving out any specific forward looking statements like that. And what would it even mean? The timeline, product, selling points are different. Other than general optimism, Darren should keep his mouth shut unless he's at a proper venue....like a special conference, a pr update for everyone to see, or an earnings call...........all imo.
well westy, since you think so much of me as an investor, you should be reading every word I write.
Oh...wait a minute..you do read every word I write.
...it is a summary of RCKY at the moment, so yeah sherlock...stuff has been mentioned here before. But certainly not all of it...particularly RCKY's new idea on how to get to 20% growth.