My back of the envelop calculation is this .....
average PE is 9.7
Huntley downgraded '07 earnings from .28 to .22 or -23%
9.7 x .22 = $2.13
Price is now $1.96
8.7% capital gain
and an .09 divi or 4%
12% return
My back of the envelop calculation is this .....average PE is...
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