Why I Love This Stock |
By:sarah z |
Date:11 05 08 |
The Aliso Viejo,
Calif.-based tech company announced that it will repurchase as much
$400 million in common stock through a modified Dutch auction tender
offer with an expected price of $13.25-$15.50 a share. If the full
buyback is completed, it would represent 26% of outstanding shares.
The buybacks will be financed through cash on hand and $300 million in
debt.
The company also announced that president Doug Garn will replace Vinny
Smith as CEO. Smith will now become executive chairman.
On August 5, 2008 the company reported second-quarter earnings with
total revenues increasing 21.9% to $173.4 million, compared with
revenues of $142.3 million in the same period last year. Net income
came in at $8.3 million, or 8 cents a share, up slightly from $7.9
million, or 8 cents a share, in the year-earlier period. Excluding
items, it earned 17 cents a share, but analysts were expecting 21
cents a share, which sent share down 10%.
It's also good to see that MKM Partners lifted their rating on Quest
to buy from neutral, noting the CEO switch and the buyback. Analyst
Kevin Shea commented on CEO change, "Mr. Garn has a reputation as a
results-oriented executive, and we expect him to focus the company on
margin expansion and shareholder returns." Shea was also bullish on
the buyback which could boost 2009 EPS by 12%. He has a $16-dollar
price target, representing 40% upside potential. |
|
By:sarah z |
Date:10 29 08 |
The Aliso Viejo,
Calif.-based tech company announced that it will repurchase as much
$400 million in common stock through a modified Dutch auction tender
offer with an expected price of $13.25-$15.50 a share. If the full
buyback is completed, it would represent 26% of outstanding shares.
The buybacks will be financed through cash on hand and $300 million in
debt.
The company also announced that president Doug Garn will replace Vinny
Smith as CEO. Smith will now become executive chairman.
On August 5, 2008 the company reported second-quarter earnings with
total revenues increasing 21.9% to $173.4 million, compared with
revenues of $142.3 million in the same period last year. Net income
came in at $8.3 million, or 8 cents a share, up slightly from $7.9
million, or 8 cents a share, in the year-earlier period. Excluding
items, it earned 17 cents a share, but analysts were expecting 21
cents a share, which sent share down 10%.
It’s also good to see that MKM Partners lifted their rating on Quest
to buy from neutral, noting the CEO switch and the buyback. Analyst
Kevin Shea commented on CEO change, “Mr. Garn has a reputation as a
results-oriented executive, and we expect him to focus the company on
margin expansion and shareholder returns.” Shea was also bullish on
the buyback which could boost 2009 EPS by 12%. He has a $16-dollar
price target, representing 40% upside potential. |
|
By:sarah z |
Date:10 15 08 |
The Aliso Viejo,
Calif.-based tech company announced that it will repurchase as much
$400 million in common stock through a modified Dutch auction tender
offer with an expected price of $13.25-$15.50 a share. If the full
buyback is completed, it would represent 26% of outstanding shares.
The buybacks will be financed through cash on hand and $300 million in
debt.
The company also announced that president Doug Garn will replace Vinny
Smith as CEO. Smith will now become executive chairman.
On August 5, 2008 the company reported second-quarter earnings with
total revenues increasing 21.9% to $173.4 million, compared with
revenues of $142.3 million in the same period last year. Net income
came in at $8.3 million, or 8 cents a share, up slightly from $7.9
million, or 8 cents a share, in the year-earlier period. Excluding
items, it earned 17 cents a share, but analysts were expecting 21
cents a share, which sent share down 10%.
It’s also good to see that MKM Partners lifted their rating on Quest
to buy from neutral, noting the CEO switch and the buyback. Analyst
Kevin Shea commented on CEO change, “Mr. Garn has a reputation as a
results-oriented executive, and we expect him to focus the company on
margin expansion and shareholder returns.” Shea was also bullish on
the buyback which could boost 2009 EPS by 12%. He has a $16-dollar
price target, representing 40% upside potential. |
|
By:nedly44 |
Date:03 28 07 |
value |
|
By:Pro |
Date:11 30 -1 |
Upgraded by JP Morgan from Neutral to Overweight |
|
By:Pam |
Date:12 18 06 |
Quest can get taken over by potentially HPQ EMC or MSFT |
|
