I believe that's what Saudi wanted for Russia to participate..not saying its going to happen but if it does, you could see a reversion back top 80-90 pretty quick..which would be 120 Canadian Light sweet
At 41 dollars and rising with 15k hedges at 72 Canadian, PWE will make it by selling 10K in non-core assets and reducing debt with it..wouldn't be a bad idea to eliminate the hedge and make additional money if that happens..stock should be much much higher
sorry you are incorrect..this is what was said "The company, its advisors and prospective purchasers are engaged in active dialogue and exchange of information. There is considerable interest in acquisition of the portfolio and a potential ongoing arrangement to fund future originations. We expect the loan sale process to be completed this quarter or early next quarter"
So they have come out and said they "expect a sale to occur" by early this qtr. To not say it is off is a violation of SEC rules. Additionally, during the conference call, Wright when into detail with analysts on the particulars of the deal giving strong insight that there was a buyer that they were talking to...to the point where they discussed the percentage rate of the service fee and the discount that would occur on the receivables sold in a flow through agreement, which Wright said would be a wash
It also shocking to me that there isn't strong buying right based on the fact that the deal is still on...
I want to make something perfectly clear as the stock sits at a 1.07B market cap with revenues coming in at 1.7B and delinquencies under control with price target of this stock at close to 50 dollars.
If CONNS thought the portfolio sale transaction was in trouble, they would have to disclose it per SEC rules. This has been communicated by Mike Poppe to analysts. If the deal happens they have to disclose it. If the deal doesn't happen, they have to disclose it. BUT if the deal is on track, they don't disclose anything...so what have they done..they have not disclosed anything. Either a deal is signed before September 9th which my opinion is likely or they will say the deal is in progress and will close on such and such a date as like last qtr's call.If that happens, either way, the share price is going to short up materially....As I have said before, I do not usually provide investment advice...but this time I will...the share price is actually now lower than if a portfolio sale doesn't happen based on CONNS metrics. But because they have said nothing, the only outcome that can be inferred due to SEC rules is that the deal is still on going...so this is a very strong buy right
Company is in dark period where insiders can't buy..presumably because of an asset sale per IR
...................at 40 north, PWE can sell assets and is viable
Absolutely untrue..they both work on the same coverage ratios but are treated separately..that's why they are doing it
also can sell their hedge had a big profit...what's all the noise about? Oil will not say here for long..just like 2008...shale drillers will start shutting in like 2008 and Saudi OPEC cuts in December..not good but plenty of time
OIL and dollar strongly coorelated
Back to May share price
40 unit growth
delinquencies narrowing vs last year
Revenues of 1.7B this year 2B next year
upgrades and price targets between 46 and 52
eps at 2.6+ the year;3.20 without portfolio sale
stupid stuff here..unless shorts know something everyone else doesn't, they are going to get burned big this time IMO
sorry ..can't help myself...a 20% revenue growth rate commands a 25x multiple in this market wit risk free earnings no debt..no doubt