Planar (PLNR) Raises Guidance
Posted on January 9, 2006
Right after the close, Planar raised EPS guidance for the coming quarter to $0.08 to $0.10 per share. This is up from breakeven expectations a couple of months ago. The reason:
The change in expectations is primarily the result of higher than anticipated sales of higher margin EL and AMLCD display products to Industrial and Medical segments.
My back of the envelope valuation of PLNR, based on the current EPS guidance is at minimum $10 per share. This is based on $0.40 annualized EPS with a 15 multiple plus $4.10 per share in cash. It´s possible the stock moves even higher, if sales guidance and EPS estimates continue to improve in 2006. Hold on to this stock. If you want to read my original analysis of the stock, you can click here.
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