Mitcham Industries, Inc. (NASDAQ:MIND)

CAPS Rating: 3 out of 5

Through its subsidiaries, the Company provides full-service equipment leasing, sales and service to the seismic industry. The Company operates in two segments, Equipment Leasing and equipment manufacturing.

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Member Avatar dbajack2 (66.87) Submitted: 1/15/2014 2:18:36 PM : Outperform Start Price: $17.24 MIND Score: -79.03

Good on my screener.

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Member Avatar Imhilion (< 20) Submitted: 12/7/2012 2:00:13 PM : Outperform Start Price: $12.57 MIND Score: -100.29

Rules of Thumb

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Member Avatar EclecticRecluse (80.24) Submitted: 4/15/2011 7:52:40 AM : Outperform Start Price: $16.03 MIND Score: -121.65

High Public Opinion with Low Relative Strength

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Member Avatar platypusman (< 20) Submitted: 11/10/2010 10:57:30 PM : Outperform Start Price: $8.93 MIND Score: -107.03

Industry is set to pop on the next decent oil price jump.

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Member Avatar fiberman7 (< 20) Submitted: 9/19/2008 4:50:03 PM : Outperform Start Price: $12.00 MIND Score: -123.01

near 52 week low

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Member Avatar DemonDoug (32.21) Submitted: 7/18/2008 3:33:11 PM : Outperform Start Price: $16.35 MIND Score: -134.89

still bullish on oil, this is an oil play to help keep the trend going. Oil to 200 by 2010.

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Member Avatar penunze (91.38) Submitted: 6/24/2008 1:55:04 PM : Outperform Start Price: $17.05 MIND Score: -128.25

Good fundamentals, good groth rates. This stock hasn't gotten the attention it deserves - yet!

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Member Avatar Sqwii (< 20) Submitted: 6/2/2008 2:04:18 AM : Outperform Start Price: $21.74 MIND Score: -127.55

Even with the price of oil going up at a pace not seen in recent history, the oil service sector has lagged. These service companies have done quite well, but not like the commodity. When looking through this sector, many companies like RIG and NOV come to mind. Both of these stocks have done quite well, as countries are now drilling for oil deep under the ocean floor and it takes a particular expertise for these operations. My call on OII on theupdown.com 91 days ago is up 37%. This entire sector has plenty of catching up to do and they will probably do it in a hurry. One company that caught my eye has earnings on Monday. They seem to be very well positioned going into earnings.

The company is MIND. This company is in the unloved industry of seismic data. They sell and lease geophysical equipment. This equipment is used to look under the ground and see the make up. This provides valuable data for the oil and gas industry. With much of the oil deep in the ground it is much more inconsistent using soil samples and older technologies. This equipment will give you the makeup, depth and size of the particular densities you are looking for. Buying this company into earnings seems like a good bet, based on last year's financials. Revenues were up 56%, operating income increased 151%, and EPS was up 19% last year. They currently get 70% of their revenues from outside North America. Their leasing equipment segment increased 38% over the last fiscal year. They acquired $26 million in new leasing equipment during that time and $25.5 million over the year prior. Half of the leasing equipment acquired last year was obtained in the fourth quarter, so it didn't add much to the leasing revenues.

The strangest piece of this puzzle was the comments made by their CFO as he stated he did not believe that they would generate any more revenue for this year then last, and based it on their phenomenal growth last year. His estimate of between $78 and $82 million not only seemed conservative, but disappointing. I do believe they were sandbagging when they made this estimate. As with many good companies, they have under promised making their earnings very beatable. Over the last four quarters this company has beaten estimates by 30%, 30.8%, 26.3% and 18.5% respectively. Another reason I believe that this number was very low is that no one could have seen the unbelievable rise in the price of oil since the beginning of the year. This could show a huge increase as many countries overseas have upped their exploration and production capital expenditures. MIND should benefit from this directly.

I also believe that this quarter's estimates are very low. Revenue is estimated to be 14.6% lower than the same quarter last year. Earnings are estimated to be down 2.6% year over year for the quarter. After a company repeatedly beats estimates, you would at least think that the estimates would be higher than the achievements at over half the price of oil. The chart is also bullish. On May 29th the stock had a triple top breakout. The current trend points to a price target of $28.50. This stock looks to be headed for the highs of the beginning of last year. There was also a bullish move in the stock on Friday.

The company seems very cheap as it is selling for a PE of 19.12 with 22.5% growth expected for the year. This company has grown 65% a year for the last five and is estimated to grow 15% for the next five. Unless oil bottoms, growth should be much higher than this in the upcoming years, this is the problem with many of these companies as analysts believe that oil is headed lower in the upcoming years with the new production being produced. I believe this company is a buy and has very good long term growth ahead.

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Member Avatar fitz55 (53.10) Submitted: 5/4/2008 8:44:47 PM : Outperform Start Price: $18.98 MIND Score: -122.36

small, but important to oil exploration

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Member Avatar capsterok (< 20) Submitted: 4/24/2008 6:11:07 PM : Outperform Start Price: $19.24 MIND Score: -131.42

Testing out a portfolio of smallish-cap 5-star stocks found using the CAPS screener. All picks have at least 50 allstars backing them, which should be enough to minimize star rating fluctuations. It's only been about a week, and I expect a LOT of volatility, but I have high hopes for market beating performance. Time will tell...

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Member Avatar mindmuse (33.78) Submitted: 4/8/2008 5:32:23 PM : Outperform Start Price: $19.06 MIND Score: -127.55

Good Vibrations
I Feel the Earth Move
Shaking All Over
I Fall to Pieces
Nobody's Fault But Mine
Shake, Shake, Shake
Rumble
Move It on Over
Shake for Me
I Tremble for You
Can't Stand Still
???

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Member Avatar mizjud (56.43) Submitted: 3/24/2008 11:26:20 AM : Outperform Start Price: $17.05 MIND Score: -125.76

THEY HAVE DONE WELL OVER THE PAST YEAR.
I THINK THEY WE CONTINUE TO CLIMB

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Member Avatar mes123 (< 20) Submitted: 3/13/2008 9:25:34 AM : Outperform Start Price: $17.57 MIND Score: -134.23

Interest in predictiing large earthquakes can only improve. As technology gets more affordable and better, sales to the scientific community will go up,

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Member Avatar rd80 (97.35) Submitted: 1/31/2008 8:50:55 PM : Outperform Start Price: $19.11 MIND Score: -126.95

A re-up. Pitch is updated with current numbers.

Mitcham Industries, Inc. and its subsidiaries engage in the leasing and sale of seismic equipment to the seismic industry worldwide.

Might be a little late to the party, but I think there's still punch in the bowl.

Not much to add to TheGarcipian's pitch.

MIND is selling for a fwd PE of 13.1, next year's earnings growth estimated at 20.8%. 16.3 million in cash and 1.5 million in debt.

Small company trading for well below it's growth rate with customers that do things like mining and oil exploration.

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Member Avatar DanWyns (45.90) Submitted: 1/3/2008 3:39:35 PM : Outperform Start Price: $20.81 MIND Score: -122.15

Performer 2008

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Member Avatar acedoc2002 (< 20) Submitted: 1/2/2008 11:06:47 PM : Outperform Start Price: $18.72 MIND Score: -114.84

With the aging planet's tectonic plates under pressure we are bound to see increase seismic activity all over the globe. MIND is a "no-brainer" bro. ha ha ..I crack myself silly.

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Member Avatar Jorgedig (< 20) Submitted: 12/11/2007 8:44:37 PM : Outperform Start Price: $18.65 MIND Score: -113.16

I like it, might buy IRL.

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Member Avatar zzzrim (< 20) Submitted: 12/4/2007 12:09:10 AM : Outperform Start Price: $20.78 MIND Score: -120.65

Hot sector ... oil is still hot and this company will help find deep water reserves.

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Member Avatar nicksit (< 20) Submitted: 9/7/2007 3:20:03 PM : Outperform Start Price: $17.76 MIND Score: -117.93

Until we as a world decide to go green or go nuclear, the fossil fuel related stocks are going to do well. And now that the artic is warming, they're talking about drilling up there too....

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Member Avatar scalzo2 (< 20) Submitted: 7/27/2007 11:46:18 AM : Outperform Start Price: $17.19 MIND Score: -115.50

great product

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