SEI Investment’s Q1 Earnings

We have just one Buy List earnings report. SEI Investments (SEIC) reported Q1 earnings of 31 cents per share. Although this was four cents better than estimates, traders seem displeased. The shares are currently down about 5%.
I’m not sure why the stock is down. Perhaps this is just a near-term sell-off. Today’s report clearly shows that SEIC’s business is bouncing back. The company earned $1.36 per share on 2007. That dropped to $1.22 in 2008 and 94 cents last year. The business is now running well ahead of last year’s result (they made just 18 cents per share in last year’s first quarter). I shouldn’t be too worried about SEIC pulling back. The stock had been making new highs consistently.
I think SEIC has a good shot of making $1.30 a share this year which means it’s still reasonably priced (but not a screaming bargain).
Strangely, AFLAC (AFL) opened nicely this morning but is now in the red. The company reported earnings yesterday.
Tomorrow we’ll have earnings reports from Fiserv (FISV) and Becton Dickinson (BDX).

Posted by on April 28th, 2010 at 10:57 am


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