Our price objective is based on a 40 times PE (price/earnings) applied to our new 2005 earnings per share estimate of $1.35.

It's important to me only as a surrogate to cash flow and earnings per share.

The stock might come under pressure because the 'whisper number' for earnings per share was higher, ... But I'm still bullish on the stock. The business momentum is there.

Shaw Group reinvented itself over the last year and, as a result, their earnings (per share) are going to go from about 95 cents last year to about $1.40 to $1.50 this year and then another 10 or 15 percent growth next year, ... We don't think the market has fully perceived how good business really is.

Shaw Group reinvented itself over the last year and, as a result, their earnings (per share) are going to go from about 95 cents last year to about $1.40 to $1.50 this year and then another 10 or 15 percent growth next year. We don't think the market has fully perceived how good business really is.

We are pleased with our results in a challenging 2005, even though the 4% improvement in diluted earnings per share from operations was below our goal to increase those earnings 10% to 15% per year over time.