One of our Premium Members sent me a message yesterday asking about Sweet 16 member, Mitcham Industries (MIND). Below is my response:
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MIND has a fiscal year that ends January 31. They will release 4th quarter results late in March or early April.
My forecast model for MIND is attached (available under the Sweet 16 tab). I expect EPS of $0.18 to $0.22. 1st quarter results will be even better.
If you check First Call, you will see that EPS estimates for next year have gone from $0.63 to $0.84. My current forecast is $0.69 but I expect to take it higher after I get more info with their annual report and more guidance from the company.
MIND is debt free and generating a lot of cash flow. IMO they are a prime takeover target.
MIND business is tied to the capital expenditure budgets of the majors and large-cap E&P companies. Higher oil prices means budgets are expanded and demand for seismic goes way up.