Well, after appearing on the Agoracom site 3 weeks ago, still no posts? That's quite unfortunate given the prospects for the company. In these uncertain market conditions, EIL provides an greatly undervalued investment with plenty of upside potential.
A few highlights:
- with many governments providing funding for infrastructure development and upgrading, Empire is in the right field
- it has a strong presence in Western Canada where economies remain strong
- was recently awarded a $20 million contract (through SNC Lavalin) to construct a bridge in port Coquitlam
- current order backlog is approx. $100 muillion +
- as mentioned above, has had a past working relationship with SNC Lavalin, with SNC providing subcontracts to Empire
- currently trading about 10X trailing earnings, and about 6X forward estimated earnings for '08
- has been a recent top pick of Doren Quinton (QIS Capital) on BNN, as well as a recent top pick of Keystone Financial
- also offers great exposure to oil and gas industry through recent merger with Tornado Technologies (hydrovac systems)
With so many positive fundamentals, the company, I feel, will eventually get recognized by investors which will be realized in a more appropriate valuation.
Have a great weekend!
