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it is down because they cut the divi--Salkowski cut his 2008 earnings outlook to $2.63 per share from $2.75 per share, previously. Analysts polled by Thomson Financial expect, on average, higher earnings of $2.67 per share. __________________
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IAR-press just came out---An Unbelievably Cheap Stock By Richard Gibbons March 31, 2008 0 Recommendations
One of the most amazing things about this market is that some stocks are not just cheap -- they're insanely cheap.
Right now, for instance, there's a stock trading at less than twice its trailing earnings. That's something you tend to see only after a significant one-time event or when earnings are about to fall off a cliff. But this company is also trading at less than twice its forward earnings. What's more, the earnings are bringing in cash -- and until recently, the company was paying out almost a 30% dividend.
The company I'm talking about -- the company that seems to be such an amazing deal -- is Idearc (NYSE: IAR).
The business Idearc publishes approximately 1,200 different phone books in cities across the country. Advertising accounted for almost all of its $3.2 billion in sales last year. More than 90% of its revenues are from print advertising, with the remainder coming from the Internet, primarily Idearc's own SuperPages.com website.
Publishing phone directories is a great business; it yields predictable monthly cash flows without requiring a lot of capital. And the quality of the business is reflected in the numbers. Last year, Idearc had impressive 42% operating margins, an amazing 25.7% return on assets, and capital expenditures of less than 2% of sales. __________________
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146 million out-IAR-look at a week ago earning projection--cheap here----------------Salkowski cut his 2008 earnings outlook to $2.63 per share from $2.75 per share, previously. Analysts polled by Thomson Financial expect, on average, higher earnings of $2.67 per share
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time to load--they shorted 5 extra million the last couple weeks--they will try and cover before earnings next week--jmho
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tomorrow-(NYSE: IAR) will hold its 2008 Annual Meeting of Stockholders on Thursday, May 1, 2008, in Southlake, Texas. The meeting will begin at 9 a.m. (Central) at the Hilton Dallas/Southlake Town Square Hotel located at 1400 Plaza Place, Southlake, Texas 76092.
Stockholders who held Idearc stock as of the close of business on March 3, 2008, and those holding a valid proxy for the annual meeting are entitled to attend in person. Attendees must bring photo identification for admittance.
For those unable to attend the meeting, a live audio Web cast of the meeting can be accessed by visiting Idearc's Web site. Visit http://ir.idearc.com/presentations.cfm, and follow the instructions provided. An archived audio version of the presentation will be available on Idearc's Web site for up to 60 days.
if something positive comes out--25 millions shorts will scramble-jmho
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click on events to listen to the conference call--playing music now--starts in 15 minuites-G/L-- http://ir.idearc.com/ __________________
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