With stocks at currently
high multiples on normalized earnings, that type of scenario would probably increase the odds off a deep recession and induce a much larger decline in stock prices.
With stocks at currently
high multiples on normalized earnings, that type of scenario would probably increase the odds off a deep recession and induce a much larger decline in stock prices.
If the company can continue to clock up even a fraction of its YTD return on equity, it more than deserves to trade on at least 2/3 times book — which would still offer a cheap ground - floor entry price to a sector that trades at much
higher multiples on average — hence my 13.7 p & 23.6 p price targets (vs. 6.875 p per share today).
Not exact matches
The change included: Relaxing previous rules that prevented users from seeing
multiple posts from the same source in the news feed, promoting content from friends
higher up in the news feed, and pushing «stories» about when a friend has liked or commented
on a post further down the feed.
Deputies from the Palm Beach County Sheriff's office are guarding the home of the school resource officer who was stationed at Marjory Stoneman Douglas
High School after his family requested the protection, according to
multiple news reports
on Thursday.
The system also allows the job to be tracked from acceptance, through production and delivery.CJ King is currently providing door - to - door UK turnaround in four working days
on jobs that would normally take two to three weeks in the UK.By implementing a
high level of integration and standardisation over the whole prepress, print and finishing process, the company is able to run large jobs over
multiple presses achieving identical results, as well as short runs without delays in changeover and make readies.
Comments: «In addition to forecasting positive earnings growth this year (which we did not in 2012), we are also using a slightly
higher multiple to reflect the positive impact of heavy central bank intervention
on the equity risk premium.»
Tech - focused underwriters brought the offerings forward, tech analysts picked up coverage, and the businesses were awarded the
higher multiples usually bestowed
on tech firms.
«They are designed with a primary goal of engendering
high levels of immersion, engagement, and enjoyment for the players, -LSB-...] They do not tend to focus
on one specific cognitive skill, as exercises usually do, but rather expose players to
multiple demands that challenge a broad range of abilities.»
If these concerns diminish this year, as I expect, there is room for
higher multiples, especially for the S&P 500 (selling at 13.1 times forward earnings
on Friday) as well as the S&P 400 (15.3) and the S&P 600 (15.9).»
If you Google «home cleaner,» or «babysitter» or «handyman» in a certain city, you'll either see ads for one (or
multiple) of the aforementioned
on - demand platforms
on the first page of Google; or you'll find directories (like Yelp) listed
high up in Google, taking you to a more curated and ratings - based search results page where those same
on - demand companies are listed or have ads running.
«It was awesome, a
high - impact,
high - energy, hackathon kind of environment,» says working group participant Mike Green, director of the ScaleUp Campaign, a nonprofit partnership to encourage local innovation based in Portland, Ore. «Since you were pitching
multiple times, you had to have your game
on.»
Earning a single link
on a
high - quality relevant website is valuable for
multiple reasons including SEO, attracting referral traffic, leads, sales and branding exposure.
She then looks at a company's return
on invested capital; the
higher the ROIC, she says, the
higher multiple the stock deserves.
Using those
multiples, you'd get a valuation,
on the
high end, of about $ 4.5 billion.
(Polman says that the board made clear to the interlopers that Unilever's «business model of longer - term - compounded value creation, by focusing
on multiple stakeholders,» is the model that the board still believes in — «even when the pressure is a little
higher.»)
Its shares trade at 97 times forward earnings, far
higher than the 16.5 times
multiple on the S&P 500.
Pros: Impressive design of grooves
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higher spin rate, great looking wedges that pro players use,
multiple options for loft to allow for more full swing shots, should receive added distance
Impressive design of grooves
on the club face for
higher spin rate, great looking wedges that pro players use,
multiple options for loft to allow for more full swing shots, should receive added distance
That
high a
multiple, even today, is often seen as a kind of «A +» seal of approval
on a company's growth prospects.
The company's net worth had soared as the market gave it a
higher and
higher price, or
multiple,
on its earnings power in its heady late 1990s under the tenure of the legendary Jack Welch.
Our 12 - month forward target for year - end 2015 is 2275, offering about 10 % upside to today's price, based
on 7 % earnings growth in 2015 and 2016 and modest further
multiple expansion to near 17x forward earnings... Multiple
multiple expansion to near 17x forward earnings...
MultipleMultiple higher?
Client inquiries about the appropriate P / E
multiple to assign US stocks routinely ignore that margins are extremely
high on a historical basis and have been stagnant for several years.
Software companies usually sell at larger p / e ratios because they have much
higher growth rates and earn
higher returns
on equity, while a textile mill, subject to dismal profit margins and low growth prospects, might trade at a much smaller
multiple.
↵ 1 1Shelter was also considered a key emergency response action during the cold war in which analysts considered how to mitigate the impacts of
multiple,
high - yield (megaton class) detonations
on urban populations.
These Fed - induced speculative valuations are now evident across the board, as the median price / revenue
multiple on S&P 500 components (as well as S&P 1500 components) is now the
highest in history, easily exceeding the 2000 peak.
In other words, at a certain level
higher bond yields create real competition for stocks, particularly dividend stocks, and put downward pressure
on multiples.
Online banks tend to offer much
higher rates
on their savings vehicles than a bank with
multiple physical branches.
Avoid
high risks by investing in
multiple initiatives instead of betting
on one or two big projects, and set up a milestone - based investment system.
A good solution for firms running
multiple payrolls with a
high number of employees, Crest Payroll pricing is based
on the number of active employees in each client's business, with no additional per check or per payroll run assessed.
Totus is also bearish
on software firms Aconex and MYOB because of their
high price - to - earnings
multiples and more aggressive accounting.
Since the start of the year, the trailing earnings
multiple on the S&P 500 has nudged
higher, advancing approximately 2.5 percent.
Companies still rely
on outdated bank wire transfer systems involving
multiple intermediaries,
high fees, and inconvenient manual paperwork processing.
With an emphasis
on small investments in capital efficient businesses with low entry valuations and
high ownership, small funds can produce attractive returns from more modest sub $ 110 million M&A exits and generate outsized returns from one or two «homerun» exits which can return
multiples of the fund's total committed capital.
I agree with you
on multiple income streams, and I am actually impressed you have such a
high risk - free rate of return, and such low mortgage rates.
Overlapping is ok and you should do that so you have
multiple radius's and you can bid
higher on those that are closer to your locations.
Like IRR, the
higher the equity
multiple, the greater the projected return
on your initial investment and the greater the potential risk.
The company's weaknesses can be seen in
multiple areas, such as its generally
high debt management risk, disappointing return
on equity and generally disappointing historical performance in the stock itself.»
This event will broaden your understanding and deepen your practical application of the principles of Conscious Capitalism with
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«We're entering year nine of the longest uninterrupted auto credit cycle
on record, and auto makers and suppliers will find it hard to push earnings much
higher, which will drive them to get creative
on expanding the
multiple.
A 2012 Credit Suisse Research Institute report evaluated the performance of 2,360 companies globally over six years and found that companies with one or more women
on boards delivered
higher average returns
on equity, lower leverage, better average growth and
higher price / book value
multiples.
The
higher end of the estimation depends
on getting KTE - C19 approved for
multiple indications.
And if you can buy some business that earns
high returns
on equity and has even got mild growth prospects, you know, at much lower
multiple earnings, you are going to do better than buying ten - year bonds at 2.30 or 30 - year bonds at three, or something of the sort.»
As usual, I don't place too much emphasis
on this sort of forecast, but to the extent that I make any comments at all about the outlook for 2006, the bottom line is this: 1) we can't rule out modest potential for stock appreciation, which would require the maintenance or expansion of already
high price / peak earnings
multiples; 2) we also should recognize an uncomfortably large potential for market losses, particularly given that the current bull market has now outlived the median and average bull, yet at
higher valuations than most bulls have achieved, a flat yield curve with rising interest rate pressures, an extended period of internal divergence as measured by breadth and other market action, and complacency at best and excessive bullishness at worst, as measured by various sentiment indicators; 3) there is a moderate but still not compelling risk of an oncoming recession, which would become more of a factor if we observe a substantial widening of credit spreads and weakness in the ISM Purchasing Managers Index in the months ahead, and; 4) there remains substantial potential for U.S. dollar weakness coupled with «unexpectedly» persistent inflation pressures, particularly if we do observe economic weakness.
Higher interest rates will begin to compress
multiples in the long run, and put pressure
on high - debt companies over a more immediate timeframe.
To put this in perspective, Adecco generated EUR 14.8 billion in revenue and EUR 402 million in operating profit in 2009, so we were paying a
high - teens
multiple on 12 - month expected EBIT.
In Japan entry
multiples are
higher than they were five years ago but are still
on average in the range of 8 - 10x.
Price - to earnings and price - to - cash flow
multiples are
on the
high side relative to history, while dividend yields are no longer as attractive as they were.
The S&P 500 registered a record
high after an advancing half - cycle since 2009 that is historically long - in - the - tooth and already exceeds the valuation peaks set at every cyclical extreme in history but 2000
on the S&P 500 (across all stocks, current median price / earnings, price / revenue and enterprise value / EBITDA
multiples already exceed the 2000 extreme).
SaaS stocks continue to move
higher, and the EV / S
multiples for the 55 biggest stocks stand at 7.2 x and are closing in
on a five - year peak of 8.8 x, according to KeyBanc Capital Markets.