Although the increasing value of
With its shares trading at $22.27 as of the close of last week, the price of Janus' stock has put management's planned buyout of the firm out of reach.
Shares in Janus are trading at 29 times this year's projected earnings per share, which is 30% higher than the average asset management firm and nearly twice the average stock in the
There are other fundamental strengths within its business. Janus has $500 million in cash on its books, and charges for a 2002 stock-option grant will fall to $31.3 million this year and be erased after a final $7.8 million payout in 2007. In addition, next year, Janus will have the right to sell an unprofitable printing business it acquired through a share swap with
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.