09-24-2017, 07:47 AM
Thanks Eric.
I have similar feelings, the company itself looks very solid and a great long term holding. Especially loving the massive free cash flow, dividends will keep going up and they are easily able to keep buybacks at the current levels.
As for the price?
Current P/E 23, a little lower than the average for S&P500. Forward P/E (with the 2017 guidance of core EPS $5.13) is a little under 22. Both are a bit higher than I like to pay for but the company is close to a 6 month low so I figure it's time to dive in. This will be about $1000 or two thirds of this months budget, so indeed I'm just planning to start a position and then potentially adding to it later.
I have similar feelings, the company itself looks very solid and a great long term holding. Especially loving the massive free cash flow, dividends will keep going up and they are easily able to keep buybacks at the current levels.
As for the price?
Current P/E 23, a little lower than the average for S&P500. Forward P/E (with the 2017 guidance of core EPS $5.13) is a little under 22. Both are a bit higher than I like to pay for but the company is close to a 6 month low so I figure it's time to dive in. This will be about $1000 or two thirds of this months budget, so indeed I'm just planning to start a position and then potentially adding to it later.