BEL ==> The New Year's Winner

[jimlam]

A TECHNICAL PERSPECTIVE

When I first bought BEL on Mr. Market's posting and it began to tank, I drew an ascending rectangle on its chart, noting it could go as low as 19 intraday before hitting the bottom of the ascending channel and begin to re-ascend. It may have begun to do that today, as the bottom of the smaller descending rectangle and the bottom of ascending channel intersected intraday today with the stock closing just off its intraday low. This is usually a bullish sign. Had it pierced that intersection and not closed above it, that would surely have been troublesome. But the fundamental points posted here aside, from a purely technical standpoint, we might expect BEL to go up in the next few sessions.

[mltlawn]

BEL

http://www.globeinvestor.com/servlet...2/wthrone30202

[moemaynard]

Earnings are out....they missed

Missed expectations by .02. Not good.

I am going to sell this morning if it doesn't open too far down.

Anybody else in the same boat? Too many other good opportunities to wait 4-6 months on this thing.

[moemaynard]

Earnings are out....they missed

Missed expectations by .02. Not good.

I am going to sell this morning if it doesn't open too far down.

Anybody else in the same boat? Too many other good opportunities to wait 4-6 months on this thing.

[evilarya]

Bel is still looking nice to move up, the only question is when im guessing maybe another 2 months or so. GGI on the other hand is the one im worried about.

[Michaelk005]

Nows the time for me to jump into BEL. Looking at the chart, the recent drop in price shook some people to sell, now its time for it to rebound to about $22. This is when the smart traders buy..

[stenzrob]

I respectfully disagree. BEL is dropping consistently since the last report on persistent heavy volume. The time to buy, if you are confident about the fundamentals, is after the selling volume dries up. My opinion is based only on price and volume, I know almost nothing about BEL's fundamentals.

[mimo_100]

The previous inter-day low for BEL was 17.20 on Feb 13.

It will be interesting to see if this low will hold up ---- so far it has.
Also, the downside volume seems to be drying up -- recognizing what Stenz said above

[mrmarket]

For what it's worth:

Westminster Securities Reiterates 'Strong Buy' Rating, Six-Month Price Target of $28.80 and 12-Month Price Target of $35.10 On Bennett Environmental
Friday February 20, 12:40 pm ET


ATLANTA, Feb. 20 /PRNewswire/ -- Westminster Securities Corporation is reiterating its investment and risk ratings on Toronto, Ontario-based Bennett Environmental Inc. (American Stock Exchange: BEL; Toronto Stock Exchange: BEV, Frankfurt (Germany): BEW) with a "Strong Buy" investment rating, a six-month Target Price of $28.80, a 12-month Target Price of $35.10, and a risk rating of "High" over both time periods.
According to Westminster analyst Will Lyons, "We are not aware of any fundamental reasons for the recent weakness in BEL's share price. In our opinion, the current price represents a significant buying opportunity in light of the company's most recent earnings release and conference call on 2/12/04, in which management indicated a number of positive developments."

Included in those developments are the following:

- BEL processed 75,000 metric tons of contaminated soil in 2003, a number
that management expects will rise to 120,000 - 140,000 metric tons in
2004

- The company is currently bidding on or preparing to bid on 700,000 tons
of new soil remediation projects, in addition to having discussions
with Canada's Department of National Defense regarding the next phase
of the massive Saglek radar site decommissioning project.

- Construction of the company's second soil processing facility in
Belledune, New Brunswick is 65% complete and on schedule for commercial
operation beginning early in the second half of 2004.

- Soil processing has continued at near maximum capacity during the
current winter months due to the additional soil storage capacity BEL
built in 2003

- Subject to regulatory approval, we expect the authorized throughput at
the company's existing soil processing facility at St. Ambroise,
Ontario will increase 11 percent this year


Our current forecast is for BEL's fully-taxed, fully-diluted US GAAP earnings to rise to US$1.17 and US$1.83 in fiscal years 2004 and 2005, respectively, based on management's most recent public guidance.

Bennett Environmental Inc. is one of North America's largest pollution abatement companies, specializing in the removal and permanent destruction of a wide range of industrial and other organic pollutants from soil using the company's proprietary high-temperature Mark IV process.

BEL is not an investment banking client of Westminster Securities Corporation and Westminster Securities Corporation does not make a market in BEL shares.

[Michaelk005]

Im loving it, picked me up few hundred shares...

[stocks54]

UPDATE

Not a good way to start your week!!! I might buy some more....

[vish]

Ouch..painful day on this one

Well, I was curious what others had to say about the steep drop in this one today. I'm holding my shares, but it looks like the 15 percent gain is going to take a lot longer than expected (down almost 4 bucks today alone).

To quote from their press release, "The Company has just been advised by two of its larger customers of the likelihood of significant delays in shipments of soil from their sites. The delays are due to site preparation activities on the customers' sites that are not yet completed and are holding up the excavation and shipment of contaminated soil. These delays were unforeseen by the customers and were expected to be completed in late March and early April. As a result, the Company will incur an unscheduled shutdown that could last for several weeks, possibly until May or until shipments resume from these or other sites. Depending on the duration of the shutdown, this is expected to negatively impact the achievability of the full year earnings estimate."

So...what's Mr. Market and everyone else going to do with this one?

Vish

[moemaynard]

a simple question

If you can't keep 1 plant running with enough soil, how do you plan on keeping 2 running? Their management is very poor. People who have been in the stock for awhile tell me that every year they come in below their earnings forecast. How many times does a company need to miss expectations before they alter them? I find it hard to believe that they knew nothing of this latest at the time of their last conf call where they emphatically denied accusations that there were inventory concerns among large holders. I specifically remember John Bennett saying that "we are definately not expecting to run out of inventory".....what a bunch of BS.

Management needs to shed some light on future contracts and announce some new ones. If Belldune is delayed further than June/July its going to get even uglier imho.

Holding my shares at $16.43

[mrmarket]

If there are no more "whoops" to be reported, then BEL is now a tremendous value.

If the problems are only a delay in processing inventory, and they can use the downtime effectively to perform maintenance, the actual earnings hit won't be significant.

[mr.yuk]

Respectfully, your hugeness, those are two BIG IF's!!
Down 40% now..ouch..
anyone buying more?