St. Joe at $30 a share?

[Skerm]

Interesting comment in thestreet.com after today's earnings announcement:

"If you're short, consider taking some off the table at my original price target of $48, as there is meaningful support and the number represents a 61.8% Fibonacci retracement of the rally beginning March 2003 to the all-time high achieved in July 2005. Below that there is some support in the low $40s and then again around $35. The latter figure is not too far away from my fundamental target. Either way, I expect St. Joe shares to eventually make their way to the low-to-mid $30s."

 

[Jellyfish]

Ugly earnings release....and the concerning thing is that the analysts generally felt Runnell, etal were ducking and weaving on the questions. If Wall St. loses confidence in management, the stock will really tank. I think entry point is key and LT it will be a good stock but pretty ugly right now....

 

[AAbsolute]

Interesting comment in thestreet.com after today's earnings announcement:

"If you're short, consider taking some off the table at my original price target of $48, as there is meaningful support and the number represents a 61.8% Fibonacci retracement of the rally beginning March 2003 to the all-time high achieved in July 2005. Below that there is some support in the low $40s and then again around $35. The latter figure is not too far away from my fundamental target. Either way, I expect St. Joe shares to eventually make their way to the low-to-mid $30s."

Now that's prophetic. A little credit where credit is due.

 

[30ashopper]

Investors seem to be awfully kind to this company. I've never tracked JOE but a quick look at their data sheet sure doesn't look very pretty - no yield, declining earnings, dismal earnings going forward for at least another year, and a trailing P/E of 453? Why isn't this stock trading at $5.00?

 

[AAbsolute]

Investors seem to be awfully kind to this company. I've never tracked JOE but a quick look at their data sheet sure doesn't look very pretty - no yield, declining earnings, dismal earnings going forward for at least another year, and a trailing P/E of 453? Why isn't this stock trading at $5.00?

Skerm called it correctly well in advance.

For me, I thought the company was worth 2 Billion by net asset valuation. I think that's about 21 bucks a share but I'm not sure. I believe there are big firms looking at JOE for acquisition. A company or govt. who excels at finance can probably work some magic at the right price point.

It does look like JOE knows something and has hunkered down.

 

[JUL]

Didn't they just get a 100 million dollar bank loan? Thought I read that aomewhere?????

 

[AAbsolute]

Didn't they just get a 100 million dollar bank loan? Thought I read that aomewhere?????

That's what I read as well. I have been thinking in this day of credit crisis that a firm in need of equity who is highly advanced in finance may acquire JOE for credit purposes. We'll see.