PLSB seems to be a classic last-minute SEC report filer. If they maintain that practice, then the rumor mill has until the end of March to play with the stock before any real good or bad news come out.
On date of previous post, 12/24, CBRL closed at 112.31. Since then, some analysts have started cutting EPS estimates for current FY and next, so the consensus estimate has dropped a few cents.
For many years CBRL has been a favorite lunch spot as we drive from NY to FL and back. There has usually been a wait for a table between 11:30 am and 2:00 pm. But, this week the CBRL was half empty at 1:00 pm. Got seated fast.
Food, staff and atmosphere are still great -- Too bad about management alienating so many people.
Carolyn -- Don't you think jersey was asking about Business Development Companies (BDCs) in general ; not the company "BDCS" in specific?.
I think that in most respects they are similar except for:
1- Your Fed & State tax filing requirements;
2--KKR engages in a broader range of activities than most BDCs;
3- Regulatory differences.
To avoid taxation, BDCs pay out almost all of their earnings as dividends and have little "retained earnings". Thus, to grow BDCs must borrow or sell new stock. BDCs sell new stock when they see new investment opportunities with attractive "spreads" that require funds beyond what they can generate from old investment sales, redemptions, or borrowings. (Borrowings are limited by law).
If you don't see BDC new stock sales, it is likely that good new investment opportunities have dried up.
Since dividends are taxable, for individuals BDCs are usually best held in an IRA (or similar account) where income is not currently taxed.
"In December, 2006 Robert E. Yates filed for personal bankruptcy in Federal Bankruptcy Court in Denver, Colorado. His personal bankruptcy was finalized in February, 2007. In May, 2005 Vancol Industries filed for bankruptcy under Chapter 7 of the Bankruptcy Code. Mr. Yates resigned his position as an executive officer of Vancol Industries in 2005."
#$%$ either can be true or can be false; hence, the #$%$ters principal aim — when spewing #$%$ — is to impress the listener and the reader with words that communicate an impression favorable to the speaker, with no concern for the truth of what they're saying. Likewise, #$%$ters are not concerned with consistency between what they're saying at the moment, and anything they've previously said. Consequently, #$%$ters are faking things, but that does not necessarily mean they get them wrong. They simply don't care. In contrast, the liar must know the truth of the matter under discussion, in order to better conceal it from the listener or the reader being deceived with a lie; while #$%$ters’ sole concern is personal advancement and advantage to their agenda; #$%$ thus is a greater enemy of the truth than are lies.
Nice of you to reply but you give no metrics. We presume that you know that even at its current lows, PLSB is selling for over 7 times sales? and, that it has missed its targets? Hope is not a metric.
smay- Thanx for the fine analysis. I had thought that maybe CBRL was overpriced and folks were getting worried about management's brains.
Doesn't seem to be much upside left for CBRL. Mean price target is only 115 and the highest goal is 125.
On the hand, cuts in earnings estimates may be on the way -- cuts in EPS estimates ussually lead to price drops.