Carter-Wallace Corp. Stock Jumps Ahead of Fundamentals / Condom Sales to Double over 3 Years

By Leckey, Andrew A. | THE JOURNAL RECORD, June 17, 1987 | Go to article overview

Carter-Wallace Corp. Stock Jumps Ahead of Fundamentals / Condom Sales to Double over 3 Years


Leckey, Andrew A., THE JOURNAL RECORD


Q: I have 100 shares of Carter-Wallace, which has been declining steadily in price. Should I sell to avoid further loss?

A: Stock of Carter-Wallace Corp. (around $92 a share, New York Stock Exchange), a drug and toiletry products firm best known for Trojan condoms, jumped dramatically in value after early publicity about use of condoms as protection against the disease AIDS.

Unfortunately, the stock price progressed a bit ahead of the firm's fundamentals and it has declined steadily ever since, said Lynn Pauls, analyst with E.F. Hutton & Co.

``I still expect the company's condom sales to double within the next three years and consider 20 percent corporate earnings growth to be likely,'' said Pauls, who pointed out that the company's pharmaceutical business is strong while its toiletries line is depressed. ``In my opinion, Carter-Wallace stock is undervalued and I expect it to be an above-average performer.''

Q: My wife and I, both retired, own shares in Litton Industries. She wants to sell them because they doesn't pay dividends. Should we?

A: While Litton Industries (around $90, NYSE) is likely to have two more quarters of ``down'' earnings, this diversified defense and business-systems manufacturer has long-term potential, said Carol Neves, analyst with Merrill Lynch & Co. It continues to make strides in seismic exploration, industrial automation and aerospace navigation systems.

``Whether you hold on to your stock depends on whether you're willing to accept the fact that it doesn't pay dividends and isn't likely to do so,'' explained Neves, who considers the company in good financial shape. ``I can see Litton stock selling a lot higher once new programs come on line, so holding on for two years might make any risk well worth it.''

Q: I discovered some old stock certificates of Chelsea Towne Ltd. in an attic. Can you tell me if my find is worth anything?

A: The charter of Chelsea Towne Ltd., a firm incorporated in New York in 1972, is still in effect, said Robert D. Fisher, vice president with the New York-based R.M. Smythe & Co. stock-search firm. However, the company is inactive and there's no market for its stock.

``Chelsea Towne stock was last traded at 1 cent a share in 1979,'' said Fisher. ``Its stock transfer agent, Continental Stock Transfer & Trust Co. of New York, says it has dropped the company from its lists.''

Q: Is the interest received from Swiss bank accounts subject to local, state and federal taxation as interest income? …

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