J.M. Peters Co., Newport Beach
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Nature of Business: Developer and builder of higher-priced single-family homes.
Employees Total: 115 Orange County: 92
Stock Designation: Listed on American Stock Exchange as “Peters”; Ticker Symbol: “JMP”
Friday’s Stock Close: $2.25 Change: -$0.25
Analyst review: “The Resolution Trust Corp. is looking to sell J.M. Peters, but don’t anticipate a sale for at least six months. Apparently they’re in good standing with financial institutions, but until they can be sold, it’s really tough for them to get new financing. . . . This is something for an aggressive investor. The upside is really good, and the downside is not really that down.”
David L. Rose, analyst
Cruttenden & Co., Irvine
YEAR SUMMARY: REVENUES VS. PROFITS
Fiscal year ending Feb. 28 Feb. 29 Feb. 28 Feb. 28 Feb. 28 1987 1988 1989 1990 1991 Net Revenue $216.9 $283.9 $390.8 $315.7 $215.5 Net Profit (Loss) $5.2 $21.4 $38.7 $25.3 ($108.0)
Corporate Outlook: “The financial results for fiscal 1991 reflect the depressed housing market and the seizure by federal regulators of San Jacinto Savings Assn., which owns 85.8% of the company’s outstanding stock. San Jacinto is pursuing the sale of its stock in the company. Our basic strategy has been to convert inventory to cash and reduce all possible expenditures.”
James M. Peters, chief executive officer
5-YEAR SUMMARY: RETURN ON STOCKHOLDER INVESTMENT
Fiscal year ending Feb. 28 Feb. 29 Feb. 28 Feb. 28 Feb. 28 1987 1988 1989 1990 1991 52-Week High* N/A $6.50 $11.00 $14.88 $9.50 52-Week Low* N/A $2.50 $5.25 $7.63 $0.75 Price Per Share N/A $5.63 $9.25 $8.38 $2.13 Net Earnings/Loss Per Share $0.43 $1.67 $2.81 $1.81 ($7.72) Price to Earnings Ratio N/A 3:1 3:1 5:1 N/A Average Return to Investor 17% 34% 34% 18% N/A
* J.M. Peters Co. was privately held until September, 1987, when it began trading publicly. Note: J.M. Peters was acquired in 1985 by San Jacinto Savings Assn. of Texas which became the financing arm of the company; however, the S&L; was seized by federal regulators five years later. For information, contact: J.M. Peters Co., 3501 Jamboree Road, Suite 200, Newport Beach, Calif. 92660. (714) 854-2500
Source: J.M. Peters Co.; Newport Securities
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