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Valuation of $3.38
stale
Added 4 years ago
Very hard to gauge earnings exactly as a huge amount of operating leverage (due to high fixed costs). But, I'm (very conservatively, i think) thumb sucking 30c EPS by 2023 (compares with 34c for trailing 12 months). Give that a PE of 15 and discount back by 10% for 3 years to get $3.38. At this price, i think you could expect a starting yield of 3.5% at least (assuming the dividend is cut), and one that would quickly recover as we emerge out the other side. Expect plenty of volatility!
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