I expect next year's EPS estimate to trend towards $4. So a 30x multiple on that is not unreasonable. Growth like this exposed to secular drivers is hard to obtain. People will pay up and shorts will cover.
14x GAAP EPS would give you $30. Company should start buying back its stock with FCF. OK, so they were sticking one time gains in their earnings last year. Not much different from companies backing out "one time" costs from their proforma earnings.
Barely generating $5 per share of free cash flow per share.
Don't forget they have a lot of spectrum which they can sell to wireless operators for billions. They are going to keep buying back stock, shrinking the count by 10-15% per year.
Yes, of course. See the article on Seeking Alpha (The Short Case for Vulcan Materials is Rock Solid). Unable to post link as Yahoo deletes it.
Also, capex is 3x depreciation. Looks like they are capitalizing whatever they possibly can rather than expensing it. Cheating on earnings like this is never a good sign.
Beat is due to that. Slimeballs don't call it out on the results. Professionals will notice it and drive stock down tomorrow.