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Wednesday, February 24, 2010

CCME News - I estimate 100% YOY Earnings growth for Q4

CCME due to report by March 15th, but could be sooner. I expect 100% earnings growth for the fourth quarter. This will put this undervalued Company on the radar.

Why CCME is severely undervalued: After market correction , FMCN is trading at a forward 18 P/E. ($14/.79 2010 EPS estimate). CCME should do approximately $42m Net Income in 2009. And they are targeting $83m Net Income in 2010. I do think they will hit their targets. However, let's say in 2010 they only grow net income by 50% from 42m to 63m. There will be approx. 39m shares o/s for full year 2010. So if they only grow net income 50% EPS would be $1.62. FMCN P/E is 18. $1.62 X 18 P/E is $29.16. They are targeting $2.13 EPS in 2010 X 18 P/E = $38.34. This stock is still severely undervalued with the market correction because it NEVER came close to a decent valuation pre-correction due to the warrant overhang which is now over. TSTC, TRIT, RINO and others have had stock runs on similar or less EPS once they were discovered.

China MediaExpress Holdings, Inc. Signs a Contract with the Organizing Committee of the 16th Asian Games

Press Release Source: China MediaExpress Holdings, Inc. On Tuesday February 23, 2010, 5:22 pm EST
FUJIAN, China--(BUSINESS WIRE)--China MediaExpress Holdings, Inc. (NYSE Amex: CCME) (“CME” or “Company”) today announced that it has signed a contract with the Organizing Committee of the 16th Asian Games which run from November 12 to November 27, 2010 in Guangzhou. The agreement provides for CME to display a 30 second advertisement promoting the games on its current network of buses from February 1, 2010 until November 30, 2010.

Guangzhou is China’s third largest city, after Beijing and Shanghai, and is the second host city in China after Beijing in 1990. A total of 42 sports are scheduled to be contested in 53 different venues, making it the largest Asian Games ever. Tens of millions of travelers are expected to travel to Guangzhou and other surrounding cities to view the games.

Zheng Cheng, CME’s Founder and CEO, noted, “We are pleased to have been selected by the Guangzhou Asian Games Organizing Committee as one of its media advertisers. Our association with the Asian Games should enhance our reputation among our clients, both leading advertising agencies and corporations, as well solidify our position as a major media player in this market. We are working on signing on additional bus operators and advertising clients to take advantage of the exceptionally large number of travelers in the Guangzhou area during the Asian Games.”

About CME

CME, through contractual arrangements with Fujian Fenzhong, an entity majority owned by CME’S former majority shareholder, operates the largest television advertising network on inter-city express buses in China. While CME has no direct equity ownership in Fujian Fenzhong, through the contractual agreements CME receives the economic benefits of Fujian Fenzhong’s operations. Fujian Fenzhong generates revenue by selling advertisements on its network of television displays installed on over 20,000 express buses originating in fourteen of China’s most prosperous regions, including the five municipalities of Beijing, Shanghai, Guangzhou, Tianjin and Chongqing and nine economically prosperous provinces, namely Guangdong, Jiangsu, Fujian, Sichuan, Hebei, Anhui, Hubei, Shandong and Shanxi which generate more than half of China’s GDP.

5 comments:

jfh86 said...

Not trying to rain on your parade here, but don't VISN's results diminish your confidence in CCME's growth prospects?

Do you think the IDI story is over too?

Superman said...

No I think CCME growth is intact. IDI i want to see the next report but it seems undervalued here. I am iN CCME EDS not IDI however.

jfh86 said...

Thanks for your answer. Again, not trying to bash the stock. Considering buying CCME into earnings and agree that IDI looks cheap as a value play. They're not growing and they had a pretty underwhelming report last Q (I think next one will be worse), so I'll wait and see.

steve heath said...

hey superman sorry that ya left lion .. I think lion was just down right wrong . hopefully you can still communicate with us here .. thanks for everything glty

---------------------- said...

super you still in creg? didnt see if you were in or out or still holding?

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