The stock is fairly valued at current levels, with little opportunity for further multiple expansion.
We thought that using earnings and conservatively assuming no multiple expansion was the best course of valuation.
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We believe any potential sector-wide multiple expansion will have to follow prolonged demonstrated growth in digital as an offset.
This multiple expansion of the money supply is called the money multiplier.
Normally, because of fractional reserve banking, this would lead to a further multiple expansion of bank deposits and the money supply.
We believe there is opportunity for multiple expansion, given long-term growth opportunities, leverage to stimulus spending, and potential for positive EPS revisions.
Multiple expansion occurs when stock prices move higher relative to earnings or when earnings move lower relative to price (as in a recession).
Examining the scores of variables that influenced each deal, the firm evaluated hard measures that influenced returns, such as leverage, multiple expansion, revenue growth and margins.
Asset purchases by the Fed normally lead to a multiple expansion of money since, at the margin, reserve requirements are only about 10 percent of deposits.
Sena writes that the increased target is based on expected multiple expansion, rather than higher estimates, noting that his 2013 revenue forecast is already 9% above consensus.
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They assume no multiple expansion despite a possible dividend.
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"As concern about risks continues to fade, and confidence in the recovery grows, you're getting exactly the type of multiple expansion that hasn't been seen over the past few years, " said Dan Greenhaus, chief global strategist at brokerage firm BTIG LLC.
Multiple money expansion did not happen and expectations of accelerating inflation were not met.
Multiple-expansion is always an unknown factor in predicting stock returns.
Again another indication that meaningful expansion of the PE multiple could be difficult.
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If Hammerson can profitably maintain its expansion spree, it might be worth its stiff multiple, 42 times next year's projection for adjusted earnings.
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For years, Mr. Pozzuoli, now 76 years old, resisted expansion, fearing he couldn't maintain standards in multiple locations.
The charismatic Wellstone, who had multiple sclerosis but was not incapacitated by it, was a champion of health-care coverage expansion, veterans affairs and environmental concerns, and was one of the Senate's most liberal members.
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