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The GEO Group, Inc. Message Board

mmports2010 5 posts  |  Last Activity: Sep 9, 2013 12:36 AM Member since: Dec 9, 2009
  • Pena Nieto just includes it in the fiscal reform. Will Mexicans continue to invest? Or will there be a sell-off before the end of the year in stocks with gains in order to avoid the tax before it takes effect in January.

  • Reply to

    Anybody buying or own HXM ?

    by rick.nagra Aug 2, 2013 12:27 PM
    mmports2010 mmports2010 Aug 2, 2013 2:24 PM Flag

    Its a Mexican housing company, its been sued by most of the banks as it has stopped paying interests.

    Barclays earing report says:

    2Q13 Results: Cash burn continues as operations come to a virtual halt
    HOMEX reported 2Q13 results well below our forecast. Cash burn from its housing division (adjusted for the favorable FX effect) came in at negative P$4.4 bn in 2Q13 (P$7.5 bn in 1H13), as operations came to a virtual halt. The company titled 710 homes in the quarter, generating P$298 mn in revenues, or 27% of total revenues, which reached P$1.1 bn, decreasing 84% YoY. The infrastructure division contributed the balance of the revenues. For 1H13 Homex posted a consolidated P$3.3bn cash burn offsetting the P$4.2 bn cash inflow from the sale of the penitentiaries project.
    The Company recognized a charge of P$5.3 bn, writing down land and construction in-progress inventory that do not qualify for the recently published rules for subsidy application from the government. Moreover, the company created a P$2.1 bn provision for uncollectable accounts receivable from clients that lost their eligibility for subsidies or deteriorated their credit status. Lastly, the company recorded a Ps.1.2 billion loss related to the cancellation of currency hedges.
    Adjusted EBITDA for 2Q13 was negative Ps10.1 bn, from a positive P$1.7 bn in 2Q12. EPS for 2Q13 decreased to negative P$30.3 as compared to P$1.7 reported for the 2Q12. Finally, as of June 2013, the company posted a YoY decline of 96% in its cash position, which now reached a level of P$147mn.
    We reiterate our Underweight rating on Homex, as the lack of operational and financial visibility, coupled with a continued high level of cash burn, prevent us from becoming more constructive on its shares.

    Living in Mexico and reading what is being said about them in the newspaper I would not touch it as it may be suspended from the stock exchange like URBI and GEO were last week as they are facing BK. That's my 2 cents.

  • mmports2010 mmports2010 Jul 4, 2013 7:59 PM Flag


  • Reply to

    Special dividend on ALBKY

    by consulfinanperu May 29, 2013 12:16 PM
    mmports2010 mmports2010 Jun 10, 2013 11:08 PM Flag

    Just got it and now we are only playing with the houses money.

    Sentiment: Hold

  • Reply to

    Acting like it's going to win

    by uppekhahead May 10, 2013 2:07 PM
    mmports2010 mmports2010 May 13, 2013 12:24 PM Flag

    Steel is a cyclical business, now its the down part of the cycle. In this business you buy at below replacement value and you reap the benefits in the top part of the cycle. It will take a few year to pan out but it will eventually look like a great deal. Look at ticker SIM, that's the strategy they have followed in the past 15 years to be one of the biggest steel makers in Mexico.

    Sentiment: Buy

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