CCRT Buys Big Chunk of Monument
credit card receivables at a 20% discount to face value. I continue to be impressed with how management is using its capital. Earnings estimates should be on the rise, as should the stock price.
Press release:
http://biz.yahoo.com/iw/070404/0235055.html
Press release:
http://biz.yahoo.com/iw/070404/0235055.html
posted by Never-Limp at 7:42 AM
2 Comments:
This is a really big acquisition for CCRT! Managed receivables were $2.82 billion on December 31, 2006 and they just purchased $970 million more, for an increase of 34%! Estimates will have to go up a lot!
CSFB estimates the earnings should increase by 0.25 to 0.50 as a result of this deal. In any case, I'm in as of today... maybe a day late, but better late than never.
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