@franphilly, thank you. So COMEX having zero oz of bullion is not a problem. I see.
Where do I read and verify GLD has 100% in physical gold, can investor ask GLD to deliver gold by our paper share by paying a fee?
I check the profile of GLD, 100% in bullion, is it physically 100% in physical or is it in paper-physical?
The fact of 68 oz of paper interest in 1 oz of gold in COMEX storage, if GLD owns that kind of physical or real real physical?
Why you start your sentences always the same?
What is this
This is a bigger puzzle to me compared to whether COCO will succeed or fold.
Only see Nov20, S&P Capital IQ raised from sell to hold, $2 target, 0.33 EPS 2013, and $0.38 EPS for 2014. Otherwise it is quiet.... 38 cent times PE 15 = $5.7 ... why $2 target I don't know. Even PE of 10 will give $3.8 ..... go figure these analysts.
Rasgon said that PS4 and Xbox's chips are not manufacture at Global F. is that true? Or the management is planning to manufacture some at GF? Why would otherwise the management said it can meet its commitment for the year?
@clean, thank you so much prompting us to read the valuable response from coco. Yes, All investors should read this including the 25% shorts.
It is a long text, Exhibit A in page 42 shows how silly CA's AG really is, much ado of nothing. Waste of corporate resources ....
Can we counter-sue the AG-pig? If legally possible, we should do that.
However you put orders to sell at whatever level above the market price, how can it really prevent anyone from selling shorting as long as there is an uptick. I don't understand this commotion is of any use.
Mostly it is expected, and FP including COCO have been preparing for this. It is better get it out, debate it over, and set the rules. It is good to establish a known rules rather than under the gun. Most schools including COCO has been reducing fee, expenses, tighten up internal processes in marketing, career aid, verify employment, automate back office for efficiency, and some are selling real estate to lease back, or sell it out right.
I like to see some progress, it has been too long hanging there. Once it is set, investors can evaluate COCO more fairly.
Boring is good ... I just worry of lack of support below $2. So we are in the holding mode now, waiting for some good or bad news.
We had every bad news we can possibly have already. Let's see how soon and how much we can sell the 4 school to shore up some cash position.
Check out CECO, big loss of student, stock are softening from the peak.
COCO operation performance is much better than CECO, we have support here at $2..... it can only go up from here. I am eager to see what $$$ can the 4 everest schools bring. That will reduce debt, reduce interest, more cash for adding equipments/software to enhance the schools and back office operation.
Real estate is hot now, not sure the 4 schools are the one with property leased or owned. If that is a big sum, it will pop like CECO, with one difference is COCO is not at big loss, and guidance for Q4 and the year is about break even.
Will add some more ....
Here are a few points:
1. Student count drops less than peers group, see their Sept-12 back to school presentation.
2. Bad debt was in the 65% now 4%
3. Revenue per student up slightly.
4. Competitive landscape is helping, due to competitor closing schools, COCO picked up 3k from such.
5. Management is bringing marketing in-house, more controls so that they do not violate the rules, save money, make use of the empty office space already paid for (lots of fix costs), not fix cost is being put to use.... expenses are being reduced, partly from managing a lot more in-house instead of outsourced.
6. In seriousness, we are breaking even. Guidance for the whole year 10-15 cents, and now Q1-2013 already lost 9 cents, that indicate Q2 to Q4 has to make up the 9 cents, and some more. Therefore 2014 in average is in the small profit range of 3-5 cents a quarter.
7. I expect the online marketing being in house will save more, and issues will be resolved, and online students will increase.
8. In-house legal council already being paid for.... so he/she will handle the evil law suit from CA-GA
9. Selling 4 Everest schools should help the debt or cash position, it should be a big positive.
10. 41% of the new students are those can not get into the community college.... so CCI serves a good purpose.
11. We are in the market of a 1-2 years programs, not like the 4 years degree, financial load to students are less.
12. 94% of job placements are verified..... this will meet or exceed Fed or State standard.
13. reducing staffs, saving money to match the lower student count.....
14. Management teams are with the company averagely 10 years, that is a low turn over.
oh, more later....
No one can take it by force! They are to meet at the court yet! I do expect selling 4 campuses will take 3-6 months. This will pay down debt and reduce expenses. COCO will be a viable business soon. See beyond the obvious .... 5 bagger, or trade it along the way.
Law suit is like a tax we pay to the lawyers X% a year. a business requirement to have a legal council in pay-roll.
Turn around, yes. You do not see it, too bad.
S&P CAPITAL IQ REITERATES HOLD OPINION ON SHARES OF CORINTHIAN COLLEGES
(S&P Capital IQ)
We cut our EPS estimates by $0.05 each, to $0.10 in FY 14 (Jun.) and $0.15 in FY 15. We keep our target price at $2.50, using relative valuation.
etc. etc. check it out
Of course 10-15 cents does not measure up. If revenue in the $300M/Q range, and make 7% net = $21M = $84M/yr = near $1 a share .... yes it can go PPS higher.....
That is turn-around story, 10-15 cents is a sign. You can not use PE to measure that.
Let's see .... how we do quarters down the road.
I combed through the Q report again, really it is expected, not bad at all. The selling of 4 campus is a good news really because they are only 50% filled in average, those closed might be less used. Now commercial real estate is HOT. We can cut expenses and raise capital. Turn around takes times. 10-15 cents is a good start. I am committed to support the management.
COCO mostly institution owned, not sure what they will do. Revenue is still up there $365M is OK, yearly at X4 $1.46B or a bit more really. It
Online student enrollment has problems (but that is smaller revenue). But Ground enrollment is good. This is quoted from their release "Our ground school new enrollments were up slightly quarter-over-quarter," Massimino said.
Revenue for next quarter is going to up $10M or more.... so they guided 2-4 cents profit. So it is OK, my guess is closing 4 campus up for sales means operation expenses will be reduced Q3-2014.
I will hold it until returning to profit. The schools are good. low evaluation, a quarter or two away.