Seeking Alpha

Clint Edgington

 
View as an RSS Feed
View Clint Edgington's Comments BY TICKER:
Latest  |  Highest rated
  • Municipal Mortgage And Equity: Still Trading At A 40% Discount To NAV, 65% Upside Remains [View article]
    HI Mr. Williams, after this Quarter's earnings release- any major revisions? All looks close to the same to me. More RE sales that were slightly above book gives me some confidence.

    fd: long
    Aug 15 12:55 PM | Likes Like |Link to Comment
  • Awilco Drilling Is Still The World's Most Undervalued Company [View article]
    Thanks. Yes, the social tax is not included in the 22% tax rate.
    Aug 14 12:45 PM | Likes Like |Link to Comment
  • Preferred Stocks With A Pop [View article]
    agreed on the soon. I expect notice any day.
    Aug 13 11:57 AM | Likes Like |Link to Comment
  • Awilco Drilling Is Still The World's Most Undervalued Company [View article]
    New tax rate at 22% is a higher jump than I anticipated. Will be interested in hearing management's thoughts on whether that's a good going forward rate or if there were some one time issues there...

    Interesting that they held the divvy steady at $1.15.

    fd: long
    Aug 13 08:18 AM | Likes Like |Link to Comment
  • Preferred Stocks With A Pop [View article]
    agree J Boogie- it was a gift that was good while we had it. 7.125% isn't too bad either, if it prices off par a bit I'd be happy with owning some of it
    Aug 13 07:50 AM | Likes Like |Link to Comment
  • SAExploration, A Low Risk, High Uncertainty Opportunity At Current Prices [View article]
    Looks like good revenue growth, disappointing margins. I'm now firmly in the camp that a company that stakes its core competency as operating in complex regions will have lumpy margins.

    Valuation: At their reiterated EBITDA midpoint of $50m for 2014; with a 5-7 multiple I'm getting an Enterprise Value $250m-$350m. Getting a market value makes me scratch my head a bit- how much should we back out for net debt?? Full debt of $150m? $120M (less $30m they haven't reinvested yet)? I lean more toward the $120m number...

    If the first ($150m debt), on 14.8m shrs I get a value/share of $6.75-$13.5.
    If the second ($120m debt), I get value/share of $8.78-$15.5.

    Also, although I agree that SAEX will be eventually valued at higher end of comps' multiples- they still have some major tax issues to work out that doesn't make it's way through valuations based on EBITDA multiples. They say they'll work on that in H2 2014, there should be some haircut for that.

    fd: long
    Aug 8 12:00 PM | 1 Like Like |Link to Comment
  • Stuck Between A Rock And A Hard Place? Not With DGT Holdings [View article]
    Interesting that DGT is tendering yet non of Steele's other HNH holdings will be.
    Aug 7 12:17 PM | Likes Like |Link to Comment
  • Awilco Drilling Is Still The World's Most Undervalued Company [View article]
    thank you
    Jul 24 11:23 AM | Likes Like |Link to Comment
  • Awilco Drilling Is Still The World's Most Undervalued Company [View article]
    link?
    Jul 24 10:39 AM | Likes Like |Link to Comment
  • Awilco Drilling Is Still The World's Most Undervalued Company [View article]
    HI Harry, what are your thoughts on the new tax regime- what is your estimate/calculation on how much that lowers free cash flow?

    fd: long
    Jul 23 07:59 AM | Likes Like |Link to Comment
  • Despite Run, ALJ Regional Holding's Deal Making Offers Continued Upside [View article]
    Thanks, was it directly from IR or some sort of PR?
    Jul 22 09:07 AM | Likes Like |Link to Comment
  • Despite Run, ALJ Regional Holding's Deal Making Offers Continued Upside [View article]
    Hi Jeremy Blum, good information. I would be very interested in learning more about the 2 customers' order spikes in Q1. Would you be kind enough to point me to the source of that? Thank you in advance.
    fd: no position
    Jul 21 08:30 AM | Likes Like |Link to Comment
  • Let's Talk About SAEX, Baby: Bull Vs. Bear Debate On SAExploration [View article]
    Thx Mike
    Jun 18 07:33 AM | Likes Like |Link to Comment
  • Let's Talk About SAEX, Baby: Bull Vs. Bear Debate On SAExploration [View article]
    Thanks Mike!

    A few things I'm having trouble working through if anyone would like to provide some thoughts:
    1.) Seeing backlog go down:
    The last backlog was set at $322M at 3/31 and has dropped to $283M. Beatty alluded to Spring being a difficult time for biz dev in the last PR- can anyone who follows the industry comment on that?

    2.) Add'l Capex req'd when our backlog has gone down.
    Is there a lump of business scheduled for winter 2015 (I don't see it). What am I missing here? At this point, Are we going to have equipment sitting idle in other parts? It seems to me we should have a bump up in backlog at a time when we're adding capex (that isn't replacing old equipment).

    thoughts?
    fd: long
    Jun 17 09:10 AM | 1 Like Like |Link to Comment
  • Whiting's Production Estimates Lead To $9.90 Fair Value For Trust II, 24% Downside [View article]
    Good article. I'm neither long nor short but appreciate the author's balanced analysis that lays out the variables (for ourselves to do our own thinking). As an independent investor and thinker, I understand how his short position may influence his desire to publish this article; just as it has influenced me when I support my long positions publicly.
    Jun 4 08:35 AM | Likes Like |Link to Comment
COMMENTS STATS
201 Comments
50 Likes