Recommendation Updates

Follow the latest news on active Turnaround Letter purchase recommendations.

Small Cap / Technology Hardware, Equipment, & Services

CTS Corporation Reported First Quarter 2013 Results

On April 23, 2013, CTS Corporation (NYSE: CTS) announced first quarter 2013 revenues of $149.5 million, an increase of 2% from the same period last year and an 8% increase from the fourth quarter 2012.  First quarter 2013 net earnings were $3.6 million, or $0.10 per diluted share, compared to $2.3 million, or $0.07 per diluted share, in the same period last year. Included in the first quarter 2013 earnings were $0.04 per share of restructuring and related charges and CEO transition costs. Excluding these items, adjusted first quarter 2013 earnings were $0.14 per share.

First quarter 2013 Components and Sensors segment sales grew $21.6 million, or 28%, from the same period last year.  Automotive sensor and actuator sales increased $17.4 million, or 36%, year-over-year primarily due to incremental sales of $12.7 million from the acquisition of D&R Technology (D&R), and sales of $7.3 million from the recently launched smart actuator product.  Sales of electronic components increased $4.2 million, or 15%, driven primarily by higher piezoceramic product sales for hard disk drive applications. Sales in the EMS segment decreased $19.1 million, or 27%, in the first quarter of 2013 from the first quarter of 2012, primarily from $14.3 million lower demand in the defense and aerospace market and $7.1 million in the industrial market, partially offset by higher sales of $3.7 million in the communications market.

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Is there value in bankrupt PG&E’s stock?

In nearly every case, the shares of a company in bankruptcy become worthless. In very rare cases, however, they can become great investments. W.R. Grace (NYSE:GRA) shares produced a 75-fold return, as an example. With California utility PG&E (NYSE:PCG) now in bankruptcy, the range of possible outcomes for its equity is wide.

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EV/EBITDA: What Is It & Why Are We Using It More?

In reading recent editions of The Turnaround Letter, you have probably noticed that we are increasingly using EV/EBITDA as a valuation measure, rather than the better-known price/earnings multiple.  We thought it might be useful to describe this measure and why we like it.

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Turnaround Letter Stock Pick Named Top Performer of 2017

 

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What Last Year's Top Stock Pickers Are Buying in 2018

 

This Forbes write-up follows up on the recent Top Stock Tips report--naming The Turnaround Letter's Crocs recommendation the top performer of 2017: With 90% gains, CROX beat out 100 other investment ideas included in the report; and the stock continues to have value investing appeal, according to Putnam.

 

George notes, "We see additional upside for the stock in 2018 as management's efforts continue to bear fruit, though the gains will likely be more muted than we saw in 2017."