Are There Any Deals Among The Dividend Contenders? Part II

INTRODUCTION
This is part two of my series in evaluating the fair value of the members of the dividend contenders from David Fish's Dividend Champion, Challenger and Contender list (available here). I have previously evaluated the champions (here) and several common dividend stocks (here). There are a total of 247 dividend contenders. This article covers the 123 remaining and bottom half of the dividend contenders. For those of you who are new to this series, the valuation methods are described below.
THE VALUATION METHODS
DISCOUNTED CASH FLOW VALUATION
Discounted cash flow [DCF] is the most commonly known valuation tool. The DCF is a valuation method used to estimate the attractiveness of an investment opportunity. Discounted cash flow analysis uses future free cash flow projections and discounts them to arrive at a present value estimate, which is used to evaluate the potential for investment.
BENJAMIN GRAHAM VALUATION FORMULA
The Graham number measures a stock's fundamental value by taking into account the company's earnings per share and book value per share. The Graham number is the upper bound of the price range that a defensive investor should pay for the stock. According to the theory, any stock price below the Graham number is considered undervalued, and thus worth investing in.
EBIT VALUATION
The EBIT Valuation model is primarily an income statement and balance sheet adjustment model to get the fair value of the equity of the... Read more