Empire Company Ltd

Sound bite for Twitter and StockTwits is: Dividend Growth Consumer. Results of stock price testing is that the stock price is reasonable and maybe cheap. Debt Ratios need improving. The Dividend Payout Ratios (DPR) are good. The current dividend yield is low with dividend growth moderate. See my spreadsheet on Empire Company Ltd .

Is it a good company at a reasonable price? I do like this company and I think that it is a good idea for a portfolio is have at least one food stock. I personally have Metro. It is a defensive stock. The stock price is reasonable. The stock price is showing as cheap with the dividend yield tests. I do like the dividend yield tests because you are dealing with real values, not estimates.

I do not own this stock of Empire Company Ltd (TSX-EMP.A, OTC-EMLAF). I have known about this stock for some time before I decided to follow it. This stock has a financial year ending in end of April or first of May each year. So, I am reviewing the May 2023 year end results.

When I was updating my spreadsheet, I noticed that this company has steady growth and has a Total Return for shareholders at a reasonable rate. See Total Return chart below.

Year	Item	Tot. Growth	Per Year
5	Revenue Growth	25.87%	4.71%
5	AEPS Growth	118.75%	16.95%
5	Net Income Growth	330.09%	33.88%
5	Cash Flow Growth	114.15%	16.45%
5	Dividend Growth	57.14%	9.46%
5	Stock Price Growth	46.52%	7.94%
10	Revenue Growth	73.05%	5.64%
10	AEPS Growth	55.84%	4.54%
10	Net Income Growth	78.27%	5.95%
10	Cash Flow Growth	140.86%	9.19%
10	Dividend Growth	106.25%	7.51%
10	Stock Price Growth	59.14%	4.76%

If you had invested in this company in December 2012, for $1,002.15 you would have bought 51 shares at $19.65 per share. In December 2022, after 10 years you would have received $235.45 in dividends. The stock would be worth $1,818.66. Your total return would have been $2,054.11. This is a total return of 7.90% per year.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$19.65	$1,002.15	51	10	$235.45	$1,818.66	$2,054.11

A low dividend is not necessarily a disadvantage. Look at the following chart. Today, the dividend is $0.73 with a yield of 1.96%. In 15 years and if dividend growth continues at 9.46%, the dividend will be $2.56 and you will get a yield on today’s price of $37.19 of 5.53% and the dividends would have paid 46.86% of the cost of your stock.

Div Pd	Div Yield	Years	At IRR	Div Cov.
$1.04	2.24%	5	9.46%	10.72%
$1.63	3.52%	10	9.46%	24.77%
$2.56	5.53%	15	9.46%	46.86%

The current dividend yield is low with dividend growth moderate. The current dividend yield is low (below 2%) at 1.42%. The 5, 10 and historical dividend yields are also low at 1.56%, 1.56% and 1.45%. The dividends have grown at a moderate rate (8% to 14% per year) at 9.46% per year over the past 5 years. The last dividend increase was in 2023 and it was for 10.6%.

The Dividend Payout Ratios (DPR) are good. The DPR for 2023 for Earnings per Share (EPS) is 25% with 5 year coverage at 23%. The DPR for 2023 for Adjusted Earnings per Share (AEPS) is 24% with 5 year coverage at 23%. The DPR for 2023 for Cash Flow per Share (CFPS) is 8% with 5 year coverage at 8%. The DPR for 2023 for Free Cash Flow is 13% with 5 year coverage at 12%.

Item	Cur	5 Years
EPS	25.00%	23.08%
AEPS	23.57%	22.52%
CFPS	7.76%	7.56%
FCF	12.58%	11.66%

Debt Ratios need improving. The Long Term Debt/Market Cap Ratio for 2023 is good at 0.10. The Liquidity Ratio for 2023 is very low at just 0.70. If you add in Cash Flow after dividends, it is still low at 1.03. It is a bit better currently at 1.21. I prefer this to be 1.50 or higher. The Debt Ratio is fine at 1.48, but I also prefer this to be at 1.50 or higher. The Leverage and Debt/Equity Ratios are too high at 3.17 and 2.14. I prefer these to be below 3.00 and below 2.00.

Type	Ratio '23	Ratio Curr
Lg Term R	0.10	0.09
Intang/GW	0.36	0.35
Liquidity	0.70	0.77
Liq. + CF	1.03	1.21
Debt Ratio	1.48	1.48
Leverage	3.17	3.17
D/E Ratio	2.14	2.14

The Total Return per year is shown below for years of 5 to 38 to the end of 2022. Under the Capital Gain column is the portion of the Total Return attributable to capital gains. Under the Dividend column is the portion of the Total Return attributable to dividends. See chart below.

From	Years	Div. Gth	Tot Ret	Cap Gain	Div.
2017	5	9.46%	9.67%	7.80%	1.86%
2012	10	7.51%	7.90%	6.14%	1.76%
2007	15	7.60%	8.04%	6.30%	1.74%
2002	20	9.37%	8.39%	6.66%	1.73%
1997	25	11.82%	11.70%	9.57%	2.13%
1992	30	10.85%	12.83%	10.57%	2.26%
1987	35	10.02%	10.68%	8.96%	1.72%
1984	38	9.89%	14.64%	11.77%	2.87%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 12.65, 14.49 and 16.33. The corresponding 10 year ratios are 13.94, 17.21 and 17.32. The corresponding historical ratios are 11.27, 13.15 and 14.65. The current P/E Ratio is 12.27 based on a stock price of $37.19 and EPS estimate for 2024 of $3.03. The current ratio is below the low ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively cheap.

I also have Adjusted Earnings per Share (AEPS) Ratios. The 5-year low, median, and high median Price/Earnings per Share Ratios are 11.93, 1401 and 16.30. The corresponding 10 year ratios are 13.37, 15.12 and 17.20. The current ratio is 12.11 based on a stock price of $37.19 and a AEPS estimate for 2024 of $3.07. The current ratio is below the low ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively cheap.

I get a Graham Price of $36.98. The 10-year low, median, and high median Price/Graham Price Ratios are 0.95, 1.14 and 1.32. The current P/GP Ratio is 1.01 based on a stock price of $37.19. The current ratio is below the low ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively cheap.

I get a 10-year median Price/Book Value per Share Ratio of 1.87. The current ratio is 1.88 based on a Book Value of $5,200M, Book Value per Share of $19.80 and a stock price of $37.19. The current ratio is 0.4% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and at the median.

I get a 10-year median Price/Cash Flow per Share Ratio of 6.64. The current P/CF Ratio is 5.15 based on Cash Flow per Share estimate for 2024 of $7.22, Cash Flow of $1,897M and a stock price of $37.19. The current P/CF Ratio is 22% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

I get an historical median dividend yield of 1.45%. The current dividend yield is 1.96% based on a dividend of $0.73 and a stock price of $37.19. The current dividend yield is 35% above the historical median dividend yield. This stock price testing suggests that the stock price is relatively cheap.

I get a 10 year median dividend yield of 1.56%. The current dividend yield is 1.96% based on a dividend of $0.73 and a stock price of $37.19. The current dividend yield is 26% above the 10 year median dividend yield. This stock price testing suggests that the stock price is relatively cheap.

The 10-year median Price/Sales (Revenue) Ratio is 0.31. The current P/S Ratio is 0.31. the current ratio is the same the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and at the median.

Results of stock price testing is that the stock price is reasonable and maybe cheap. The dividend yield tests say that the stock price is cheap, but the P/S Ratio test just says it is reasonable. Most of the other test, but the P/B Ratio test, say that the stock price is cheap.

When I look at analysts’ recommendations, I find Strong Buy (1), Buy (4), Hold (2) and Underperform (1). The consensus would be a Buy. The 12 months stock price consensus is $41.44. This implies a total return of 13.39% with 11.43% from capital gains and 1.96% from dividends. Negative views on this is that there is a preference for Loblaws rather than this company, so there are better places to invest and that the stock is relatively expensive. A positive view is that it is a defensive stock.

Some analysts on Stock Chase think this is a buy and one thinks it is expensive. Stock Chase gives this stock 3 stars out of 5. This company is on Money Sense list at number 21. Aditya Raghunath on Motley Fool says the company has good growth and is cheap. Ambrose O'Callaghan on Motley Fool says company is a dependable dividend stock. The company put out a press release on Newswire about its fourth quarter of 2023 results.

Simply Wall Street reviews this company via Yahoo Finance. Simply Wall Street gives this stock 2 and one half stars out of 5. Simply Wall Street shows no risks for this company.

Empire Co Ltd key businesses are food retailing, investments, and other operations. The food retailing division operates through Empire's subsidiary Sobeys and represents nearly all the company's income. The company's investment and other operations segment include the investment in Crombie REIT, which is an open-ended Canadian real estate investment trust, as well as the Genstar Development Partnership. Its web site is here Empire Company Ltd .

The last stock I wrote about was about was Saputo Inc (TSX-SAP, OTC-SAPIF) ... learn more. The next stock I will write about will be Premium Brands Holdings Corp (TSX-PBH, OTC-PRBZF) ... learn more on Monday, July 3, 2023 around 5 pm.

This blog is meant for educational purposes only and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

Saputo Inc

Sound bite for Twitter and StockTwits is: Dividend Growth Consumer. Results of stock price testing is that the stock price is probably cheap. Debt Ratios are fine. The Dividend Payout Ratios (DPR) are fine. The Dividend Payout Ratios (DPR) are fine. The current dividend yield is moderate with dividend growth low to flat. See my spreadsheet on Saputo Inc .

Is it a good company at a reasonable price? The company has basically stop increasing their dividends. This is never a good sign for the short term as it shows that management is not optimistic in the short term. This increases the risk of investment, but can also increase the total return when buying such a stock. The stock is showing currently as cheap. It may take a while to recover, but I am sure it will. I am not selling any shares at this time.

I own this stock of Saputo Inc (TSX-SAP, OTC-SAPIF) . This was a stock on Mike Higgs' Canadian Dividend Growth Stock list and on the dividend lists that I followed. I bought this stock first in 2006 for my RRSP account. Because I am now taking money from my RRSP accounts, I have been selling this stock because of the low dividend. I still like this stock so I have been buying it in my TFSA. Note that this stock has a March 31 year end, so I am reviewing March 2023 annual report.

When I was updating my spreadsheet, I noticed I have had this stock for 17 years and I have made a total return of 15.49% per year with 12.90% from capital gains and 2.59% from dividends. This is a dividend growth stock and the return is good. People who have had this stock for shorter periods have not done as well. See below. The long slow recovery from 2008 bear market has been a problem for many companies. Covid lockdowns and its recovery has also been a problem.

If you had invested in this company in December 2012, for $1,006.20 you would have bought 40 shares at $25.16 per share. In December 2022, after 10 years you would have received $246.40 in dividends. The stock would be worth $1,420.80. Your total return would have been $1,667.20. This is a total return of 5.58% per year.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$25.16	$1,006.20	40	10	$246.40	$1,420.80	$1,667.20

If you had invested in this company in December 2017, for $1,039.14 you would have bought 23 shares at $45.18 per share. In December 2022, after 5 years you would have received $79.47 in dividends. The stock would be worth $816.96. Your total return would have been $896.43. This is a total loss of 3.01% per year.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$45.18	$1,039.14	23	5	$79.47	$816.96	$896.43

The current dividend yield is moderate with dividend growth low to flat. The current dividend is moderate (2% to 4% ranges) at 2.50%. The 5, 10 and historical dividend yields are low (below 2%) at 1.96%, 1.59% and 1.73%. The current dividend growth is low (below 8%) at 2.7% per year over the past 5 years. The last dividend increase was in 2021 and it was for 2.9%. The dividends see to being going flat. They used to increase the dividends every year, but they have been the same for the last 8 dividends.

The Dividend Payout Ratios (DPR) are fine. The DPR for 2023 for Earnings per Share (EPS) is 49% with 5 year coverage at 49% also. The DPR for 2023 for Adjusted Earnings per Share (AEPS) is 40% with 5 year coverage at 44%. The DPR for 2023 for Cash Flow per Share (CFPS) is 26% with 5 year coverage at 21%. The DPR for 2023 for Free Cash Flow (FCF) is 49% with 5 year coverage at 57%.

Item	Cur	5 Years
EPS	48.65%	49.08%
AEPS	40.00%	43.86%
CFPS	26.23%	20.62%
FCF	48.77%	56.77%

Debt Ratios are fine. The Long Term Debt/Market Cap Ratio for 2023 is good and low at 0.20. The Liquidity is good at 1.62. The Debt Ratio for 2023 is good at 1.98. The Leverage and Debt/Equity Ratios for 2023 are fine at 2.02 and 1.02.

Type	Ratio '23	Ratio Curr
Lg Term R	0.20	0.24
Intang/GW	0.31	0.38
Liquidity	1.62	1.62
Liq. + CF	1.86	1.98
Debt Ratio	1.98	1.98
Leverage	2.02	2.02
D/E Ratio	1.02	1.02

The Total Return per year is shown below for years of 5 to 26 to the end of 2022. Under the Capital Gain column is the portion of the Total Return attributable to capital gains. Under the Dividend column is the portion of the Total Return attributable to dividends. See chart below.

From	Years	Div. Gth	Tot Ret	Cap Gain	Div.
2017	5	2.71%	-3.01%	-4.70%	1.69%
2012	10	15.72%	5.58%	3.51%	2.07%
2007	15	7.90%	8.16%	5.96%	2.21%
2002	20	10.37%	11.78%	9.11%	2.67%
1997	25	13.56%	12.69%	10.14%	2.54%
1996	26	13.00%	10.57%	8.51%	2.06%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 19.50, 23.33 and 27.21. The corresponding 10 year ratios are 19.26, 22.44 and 25.74. The corresponding historical ratios are 16.97, 19.13 and 21.76. The current P/E Ratio is 15.31 based on a stock price of $28.78 and EPS estimate for 2024 of $1.88. The current ratio is below the low ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively cheap.

I also have Adjusted Earnings per Share (AEPS) data. The 5-year low, median, and high median Price/Adjusted Earnings per Share Ratios are 21.04, 23.29 and 25.33. The corresponding 10 year ratios are 19.68, 22.79 and 25.91. The current P/AEPS Ratio is 15.90 based on an AEPS estimate for 2024 of $1.81 and a stock price of $28.78. The current ratio is below the low ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively cheap.

I get a Graham Price of $26.26. The 10-year low, median, and high median Price/Graham Price Ratios are 1.52, 1.78 and 2.06. The current P/GP Ratio is 1.10 based on a stock price of $28.78. The current ratio is below the low ratio of the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

I get a 10-year median Price/Book Value per Share Ratio of 3.22. The current P/B Ratio is 1.70 based on a stock price of $28.78, Book Value of $7,140M and Book Value per Share of $16.94. The current ratio is 47% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

I get a 10-year median Price/Cash Flow per Share Ratio of 16.41. The current P/CF Ratio is 8.77 based on Cash Flow per Share estimate for 2024 of $3.28, Cash Flow of $1,383M and a stock price of $28.78. The current ratio is 47% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

I get an historical median dividend yield of 1.73%. The current dividend yield is 2.50% based on dividends of $0.72 and a stock price of $28.78. The current dividend yield is 45% above the historical median dividend yield. This stock price testing suggests that the stock price is relatively cheap.

I get a 10 year median dividend yield of 1.59%. The current dividend yield is 2.50% based on dividends of $0.72 and a stock price of $28.78. The current dividend yield is 57% above the historical median dividend yield. This stock price testing suggests that the stock price is relatively cheap.

The 10-year median Price/Sales (Revenue) Ratio is 1.17. The current P/S Ratio is 0.68 based on Revenue estimate for 2024 of $17,919M, Revenue per Share of $42.50 and a stock price of $28.78. The current ratio is 42% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

Results of stock price testing is that the stock price is probably cheap. The dividend yield tests say this and it is confirmed by the P/S Ratio test. All the tests I have done, the stock price is showing as cheap.

When I look at analysts’ recommendations, I find Strong Buy (1), Buy (5), Hold (2) and Underperform (2). The consensus would be a Buy. The 12 month stock price consensus is $36.28. This implies a total return of 28.56%, with 26.06% from capital gains and 2.50% from dividends.

Some analysts on Stock Chase think this stock is a buy and others do not. Stock Chase gives this stock 4 stars out of 5. It is not on the Money Sense list. There is a Bloomberg item saying there was cautious note from the CEO. Kay Ng on Motley Fool thinks there is a buying opportunity as the stock has fallen on this usual defensive stock. Tony Dong on Motley Fool thinks you should buy this stock as it is generally less volatile than the overall market. The company put out a Press Release about their fourth quarter results for March 2023.

Simply Wall Street via Yahoo Finance reviews this stock. Simply Wall Street has one warning for this stock of has a high level of debt. Simply Wall Street gives this stock 4 stars out of 5.

Saputo is a global dairy processor domiciled in Canada with operations in the United States, the U.K., and other international markets. It sells cheese, cream, fluid milk, and other dairy products. Its web site is here Saputo Inc .

The last stock I wrote about was about was Parkland Fuel Corp (TSX-PKI, OTC-PKIUF) ... learn more. The next stock I will write about will be Empire Company Ltd (TSX-EMP.A, OTC-EMLAF) ... learn more on Friday, June 20, 2023 around 5 pm. Tomorrow on my other blog I will write about Investment Strategy.... learn more on Thursday, June 29, 2023 around 5 pm.

This blog is meant for educational purposes only and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

Parkland Fuel Corp

Sound bite for Twitter and StockTwits is: Dividend Growth Industrial. The stock price is reasonable and may even be cheap. Some Debt Ratios are not good. The Dividend Payout Ratios (DPR) are fine. The Dividend Payout Ratios (DPR) are fine. The current dividend yield is moderate with dividend growth low. See my spreadsheet on Parkland Fuel Corp.

Is it a good company at a reasonable price? I think that the debt ratios point to higher risk if purchasing this company. It does have good growth. It has a long history of paying dividends. The stock price certainly is reasonable and it is probably cheap as several stock price tests point to this.

I do not own this stock of Parkland Fuel Corp (TSX-PKI, OTC-PKIUF). I decided to do a spreadsheet on this stock as it was a stock recommended by Roger Conrad in Money Show of 2013.

When I was updating my spreadsheet, I noticed that this company has great growth, but it also has a lot of debt and that would worry me if I was a shareholder. The Long Term Debt/Market Cap Ratio is 1.29 in 2022 and 1.11 currently. It means that the Long Term Debt is higher than the Market Cap or the value of the company. The Leverage and Debt/Equity Ratios are also far too high at 5.05 and 3.97. The acceptable level are ratios below 3.00 and 2.00.

Year	Item	Tot. Growth	Per Year
5	Revenue Growth	270.92%	29.97%
5	A DCF Growth	296.12%	31.69%
5	AEPS Growth	321.74%	33.35%
5	Net Income Growth	276.67%	30.37%
5	Cash Flow Growth	406.30%	38.32%
5	Dividend Growth	-7.16%	-1.48%
5	Stock Price Growth	11.58%	2.22%
10	Revenue Growth	757.89%	23.98%
10	A DCF Growth	167.54%	10.34%
10	AEPS Growth	138.52%	9.08%
10	Net Income Growth	265.33%	13.83%
10	Cash Flow Growth	872.28%	25.54%
10	Dividend Growth	4.61%	0.45%
10	Stock Price Growth	58.27%	4.70%

If you had invested in this company in December 2012, for $1,003.29 you would have bought 53 shares at $18.93 per share. In December 2022, after 10 years you would have received $598.82 in dividends. The stock would be worth $1,587.88. Your total return would have been $2,186.70.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$18.93	$1,003.29	53	10	$598.82	$1,587.88	$2,186.70

The current dividend yield is moderate with dividend growth low. The current dividend yield is moderate (2% to 4% ranges) at 4.17%. The 5, 10 and historical dividend yields are moderate at 3.22%, 3.81% and 3.33%. The dividend growth is low at 3% per year over the past 5 years. In 2022, the company changed the dividend payout period from monthly to quarterly. The last dividend increase was in 2023 and it was for 4.6%.

The Dividend Payout Ratios (DPR) are fine. The DPR for 2022 for EPS was 56% with 5 year coverage at 82%. The company prefers to use a Distributable Cash Flow (DCF) to justify dividend payouts and in 2022 the DPR for DCF was 21% with 5 year coverage at 31%. The DPR for 2022 for Adjusted Earnings per Share (AEPS) is 37% with 5 year coverage at 72%. The DPR for 2022 for Cash Flow per Share (CFPS) is 13% with 5 year coverage at 19%. The DPR for 2022 for Free Cash Flow (FCF) is 15% with 5 year coverage at 24%.

Item	Cur	5 Years
EPS	55.57%	81.67%
DCF	20.88%	30.94%
AEPS	36.67%	72.09%
CFPS	12.80%	18.65%
FCF	14.70%	24.16%

Some Debt Ratios are not good. The Long Term Debt/Market Cap Ratio are far too high for 2022 at 1.29. Currently they are low, but still too high at 1.11. The Liquidity Ratio is low at 1.39, but if you add in cash flow after dividends, the ratio is fine at 1.74. The Debt Ratio are low at 1.27 for 2022 and 1.29 currently. I prefer these to be at 1.50 or higher. The Leverage and Debt/Equity Ratios are also far too high at 5.05 and 3.97. The acceptable level are ratios below 3.00 and 2.00.

Type	Ratio '22	Ratio Curr
Lg Term R	1.29	1.11
Intang/GW	0.73	0.63
Liquidity	1.39	1.42
Liq. + CF	1.74	1.78
Debt Ratio	1.27	1.29
Leverage	5.05	4.49
D/E Ratio	3.97	3.49

The Total Return per year is shown below for years of 5 to 34 to the end of 2022. Under the Capital Gain column is the portion of the Total Return attributable to capital gains. Under the Dividend column is the portion of the Total Return attributable to dividends. See chart below.

From	Years	Div. Gth	Tot Ret	Cap Gain	Div.
2017	5	-1.48%	6.41%	2.22%	1.20%
2012	10	0.45%	9.63%	4.70%	4.93%
2007	15	1.28%	10.32%	4.21%	6.11%
2002	20	3.28%	24.56%	10.39%	14.17%
1997	25	18.10%	20.59%	10.69%	9.90%
1992	30	14.87%	18.20%	10.83%	7.36%
1988	34	13.01%	13.04%	8.33%	4.70%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 17.50, 23.75 and 29.99. The corresponding 10 year ratios are 30.42, 35.55 and 40.68. The corresponding historical ratios are 10.80, 13.91 and 16.17. The current P/E Ratio is 12.41 based on a stock price of $32.63 and EPS estimate for 2023 of $2.63. The current P/E Ratio is below the low ratio of the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap. The 10 year median ratios are high. If a company has problems, the stock price will only go so low if the company still have value. This is high some P/E Ratio get very high.

I also have Adjusted Earnings per Share (AEPS) data. The 5-year low, median, and high median Price/Adjusted Earnings per Share Ratios are 14.51, 17.38 and 20.26. The corresponding 10 year ratios are 20.94, 27.21 and 32.38. The current P/AEPS Ratio is 13.00 based on a stock price $32.63 and AEPS estimate for 2023 of $2.51. This ratio is below the 10 year median ratios. This stock price testing suggests that the stock price is relatively cheap.

I also have Distributable Cash Flow (DCF) data. The 5-year low, median, and high median Price/DCF per Share Ratios are 7.61, 10.67 and 12.61. The corresponding 10 year ratios are 8.77, 10.74 and 13.59. The current P/DCF Ratio is 7.94 based on a stock price $32.63 and DCF estimate for 2023 of $4.11. This ratio is between the low and median ratios of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I get a Graham Price of $31.40. The 10-year low, median, and high median Price/Graham Price Ratios are 1.30, 1.84 and 2.20. The current P/GP Ratio is 1.04 based on a stock price of $32.63. The current ratio is below the low ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively cheap.

I get a 10-year median Price/Book Value per Share Ratio of 2.82. The current ratio is 1.87 based on a stock price of $32.63, Book Value of $3,062M and Book Value per Share of $17.45. The current ratio is 34% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

I get a 10-year median Price/Cash Flow per Share Ratio of 9.71. The current P/CF Ratio is 4.42 based on Cash Flow per Share estimate for 2023 of $7.38, Cash Flow of $1,295M, and a stock price of $32.63. The current ratio is 54% below the 10 year median ratios. This stock price testing suggests that the stock price is relatively cheap.

I get an historical median dividend yield of 3.33%. The current dividend yield is 4.17% based on Dividends of $1.36 and a stock price of $32.63. The current ratio is 25% above the historical median dividend yield. This stock price testing suggests that the stock price is relatively cheap.

I get a 10 year median dividend yield of 3.81%. The current dividend yield is 4.17% based on Dividends of $1.36 and a stock price of $32.63. The current ratio is 9% above the historical median dividend yield. This stock price testing suggests that the stock price is relatively reasonable and below the median.

The 10-year median Price/Sales (Revenue) Ratio is 0.33. The current P/S Ratio is 0.17 based on a stock price of $32.63, Revenue estimate for 2023 of $33,765M and Revenue per Share of $192.47. The current P/S Ratio is 49% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

Results of stock price testing is that the stock price is reasonable and may even be cheap. The historical dividend test says the stock price is cheap, but the 10 year dividend yield test says it is reasonable. The P/S Ratio test says the stock price is cheap. Most of the rest of the testing is showing the stock price as cheap.

When I look at analysts’ recommendations, I find Strong Buy (5), Buy (8) and Hold (1). The consensus would be a Strong Buy. The 12 months stock price consensus is $39.50. This implies a total return of 25.22% with 4.17% from dividends and 21.05% from capital gains.

There are mixed reviews on Stock Chase for the company including Buy, Hold and Do Not Buy. The negative seems to be their debt. Stock Chase gives this stock 4 stars out of 5. This company is on the Money Sense list at 96. Adam Othman on Motley Fool thinks you should buy this company for passive income. Christopher Liew on Motley Fool thinks this company is a passive income powerhouse. The company put out a press release on Newswire about their 2022 results. The company put out a press release on Newswire about their results for the first quarter of 2023.

Simply Wall Street via Yahoo Finance. Simply Wall Street listed 3 warnings of Interest payments are not well covered by earnings; large one-off items impacting financial results; and shareholders have been diluted in the past year. Note a reason a company has Adjusted Earnings per Share (AEPS) is because of large on-off items impacting financial results. Simply Wall Street gives this stock 3 stars out of 5.

Parkland Corp is a food and convenience retailer and an independent marketer, distributor, and refiner of fuel and petroleum products. Parkland delivers refined fuels, propane, and other high-quality petroleum products to motorists, businesses, consumers, and wholesale customers across the Americas. Its web site is here Parkland Fuel Corp.

The last stock I wrote about was about was Computer Modelling Group Ltd (TSX-CMG, OTC-CMDXF) ... learn more. The next stock I will write about will be Saputo Inc (TSX-SAP, OTC-SAPIF) ... learn more on Wednesday, June 28, 2023 around 5 pm. Tomorrow on my other blog I will write about My Investment Style.... learn more on Tuesday, June 27, 2023 around 5 pm.

This blog is meant for educational purposes only and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

Computer Modelling Group Ltd

Sound bite for Twitter and StockTwits is: Dividend Paying Tech. Results of stock price testing is that the stock price could be reasonable. Debt Ratios are fine. Some Dividend Payout Ratios (DPR) are too high. The current dividend yield is moderate with dividend growth has stopped. See my spreadsheet on Computer Modelling Group Ltd.

Is it a good company at a reasonable price? I plan to hold on to the shares I have because I have not lost faith in the future of this company. However, you should not invest in this company money you cannot afford to lose as it is on the risky side. The stock price seems reasonable. A plus for this company is that it has a new CEO who has bought shares in the company.

I own this stock of Computer Modelling Group Ltd (TSX-CMG, OTC-CMDXF). I bought this company in 2008 because it is a dividend paying growth stock that would also be a small cap with a capitalization of around $115 million. Insiders are currently buying this stock. It has great growth and it is information technology a favourite sector of mine. When I sold some of my TD Bank stock in June 2009, I bought some more. Because the stock grew rapidly and because it is a tech stock, I sold some shares in 2011 to lock in profit.

When I was updating my spreadsheet, I noticed this company peaked in 2015. The year ending in March 2023 was a better year than they have had for some time. Revenue is up 11.6%, Earnings are up 20%, but Cash Flow is down some 9.9%, but with Cash Flow excluding Working Capital up 6.4%

I bought this company for its growth potential, but it has not grown much lately. However, I have still made money on this stock. I bought it in 2008 and 2009 and by Total Return is 20.56% per year with 11.09% from capital gains and 9.47% from dividends. The Funds Flow from Operations (FFO) is up 6.7% this year.

Year	Item	Tot. Growth	Per Year
5	Revenue Growth	-1.12%	-0.22%
5	FFO Growth	0.00%	0.00%
5	Net Income Growth	-4.85%	-0.99%
5	Cash Flow Growth	-15.23%	-3.25%
5	Dividend Growth	-50.00%	-12.94%
5	Stock Price Growth	-39.27%	-9.49%
10	Revenue Growth	7.62%	0.74%
9	FFO Growth	-23.81%	-2.68%
10	Net Income Growth	-20.24%	-2.24%
10	Cash Flow Growth	-7.82%	-0.81%
10	Dividend Growth	-37.50%	-4.59%
10	Stock Price Growth	-45.31%	-5.86%

If you had invested in this company in December 2012, for $1,002.04 you would have bought 94 shares at $10.56 per share. In December 2022, after 10 years you would have received $318.66 in dividends. The stock would be worth $548.02. Your total return would have been $866.68.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$10.66	$1,002.04	94	10	$318.66	$548.02	$866.68

The current dividend yield is moderate with dividend growth has stopped. The current dividend yield is moderate (2% to 4% ranges) at 3.08%. The 5, 10 and historical median dividend yields are also moderate at 4.02%, 3.91%, and 3.66%. The dividends were flat from 2015 and then cut in 2021 and have again been flat. The cut in 2021 was a 50% cut.

Some Dividend Payout Ratios (DPR) are too high. The DPR for Earnings per Share (EPS) for 2022 is 83% with 5 year coverage at 111%. These DPRs are too high and would be better between 60% and 70%. The DPR for 2022 for Funds from Operations (FFO) is 63% with 5 year coverage at 85%. The DPR for 2022 for Free Cash Flow (FCF) provided by the company is 74% with 5 year coverage at 93%. The DPR for 2022 for Cash Flow per Share (CFPS) is 64% with 5 year coverage at 76%. This is too high and is better if under 40%. The DPR for Free Cash Flow (FCF) by analysts is 64% with 5 year coverage at 101%.

Item	Cur	5 Years
EPS	83.33%	111.11%
FFO	62.50%	85.18%
FCF C.	74.07%	93.01%
CFPS	63.60%	76.35%
FCF	63.78%	100.86%

Debt Ratios are fine. The Long Term Debt/Market Cap Ratio for 2022 is very low and very good at 0.01. The Liquidity Ratio is good at 1.98. The Debt Ratio is good at 1.62. Leverage and Debt/Equity Ratios are fine at 2.61 and 1.61.

Type	Ratio '22	Ratio Curr
Lg Term R	0.01	0.01
Intang/GW	0.00	0.00
Liquidity	1.98	1.98
Liq. + CF	2.18	2.33
Debt Ratio	1.62	1.62
Leverage	2.61	2.61
D/E Ratio	1.61	1.61

The Total Return per year is shown below for years of 5 to 26 to the end of 2022. Under the Capital Gain column is the portion of the Total Return attributable to capital gains. Under the Dividend column is the portion of the Total Return attributable to dividends. See chart below.

From	Years	Div. Gth	Tot Ret	Cap Gain	Div.
2017	5	-12.94%	-6.02%	-9.49%	3.48%
2012	10	-4.59%	-1.75%	-5.86%	4.10%
2007	15	6.19%	20.12%	8.29%	11.83%
2002	20	13.65%	38.85%	17.94%	20.91%
1997	25		26.02%	15.61%	10.40%
1996	26		17.91%	11.13%	6.78%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 19.30, 24.73 and 30.50. The corresponding 10 year ratios are 19.71, 27.43 and 33.39. The corresponding historical ratios are 12.60, 19.18 and 24.24. The current P/E Ratio is 22.41 based on a stock price of $6.50 and EPS estimate for 2024 of $0.29. The current ratio is between the low and median ratios of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I also have Funds from Operations (FFO) data. The 5-year low, median, and high median Price/ Funds from Operations Ratios are 12.87, 16.83 and 23.69. The corresponding 10 year ratios are 15.39, 23.41 and 28.28. The current P/FFO Ratio is 20.31 based on a stock price of $6.50 and FFO for the last 12 months of $0.32. The current ratio is between the median and high ratios of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable but above the median.

I also have Free Cash Flow (FCF) data from the company. The 5-year low, median, and high median Price/ Free Cash Flow Ratios are 14.30, 18.44 and 26.36. The corresponding 10 year ratios are 16.91, 22.92 and 28.92. The current P/FFO Ratio is 24.07 based on a stock price of $6.50 and FCF for the last 12 months of $0.27. The current ratio is between the median and high ratios of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable but above the median.

I get a Graham Price of $2.06. The 10-year low, median, and high median Price/Graham Price Ratios are 2.64, 3.90 and 4.70. The current P/GP Ratio is 3.16 based on a stock price of $6.50. The current ratio is between the low and median ratios of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I get a 10-year median Price/Book Value per Share Ratio of 12.61. The current P/B Ratio is 9.99 based on a stock price of $6.50, Book Value of $52.5M and Book Value per Share of $0.65. The current ratio is 21% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

I get a 10-year median Price/Cash Flow per Share Ratio of 23.33. The current P/CF Ratio is 16.25 based on Cash Flow per Share estimate for 2024 of $0.40, Cash Flow of $32.3M and a stock price of $6.50. The current ratio is 30% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

I get an historical median dividend yield of 3.66%. The current dividend yield is $3.08% based on a stock price of $6.50 and dividends of $0.20. The current ratio is 16% below the historical median dividend yield. This stock price testing suggests that the stock price is relatively reasonable but above the median.

I get a 10 year median dividend yield of 3.91%. The current dividend yield is $3.08% based on a stock price of $6.50 and dividends of $0.20. The current ratio is 21% below the historical median dividend yield. This stock price testing suggests that the stock price is relatively expensive.

The 10-year median Price/Sales (Revenue) Ratio is 8.88. The current P/S Ratio is 6.65 based on Revenue estimate for 2024 of $78.8M, Revenue per Share of $0.98 and a stock price of $6.50. The current ratio is 25% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

Results of stock price testing is that the stock price could be reasonable. The P/S Ratio testing says the stock price is cheap. The dividend yield tests say it is above the median or for the 10 year dividend yield test, expensive. However, dividends have been flat for the last 3 years after a decrease. The rest of the testing mostly says that the stock price is reasonable and above or below the median.

When I look at analysts’ recommendations, I find Strong Buy (2), Buy (0), Hold (1) and Underperform (1). The consensus would be a Buy. The 12 month stock price consensus is $7.63. This implies a total return of 20.46% with 17.38% from capital gains and 3.08% from dividends.

The only recommendation this year on Stock Chase is a Buy because analyst sees the stock as looking powerful. Last year the only recommendation was a Do Not Buy because of high valuation. Stock Chase gives this stock 4 stars out of 5. Christopher Liew on Motley Fool says you will be glad you bought once the bull market is underway. Adam Othman on Motley Fool says this company has an early-bird advantage with AI. The company put out a press release on Accesswire about the fourth quarter of 2022 results.

Simply Wall Street via Yahoo Finance reviews this stock. They think the stock has some positive values but worry about the declining earnings. Simply Wall Street gives this stock 3 and one half stars out of 5. They have 2 warnings of unstable dividend track record; and significant insider selling over the past 3 months. Over the past year, 1 director was selling, but the new CEO bought shares and the CFO increased their shares.

Computer Modelling Group Ltd is a Canada-based provider of reservoir simulation software for the oil and gas industry. The firm has operations in Americas, Europe, Middle East, Africa, and Asia-Pacific regions. Its web site is here Computer Modelling Group Ltd.

The last stock I wrote about was about was CI Financial Corp (TSX-CIX, NYSE-CIXX) ... learn more. The next stock I will write about will be Parkland Fuel Corp (TSX-PKI, OTC-PKIUF) ... learn more on Monday, June 26, 2023 around 5 pm.

This blog is meant for educational purposes only and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

CI Financial Corp

Sound bite for Twitter and StockTwits is: Dividend Paying Financial. Results of stock price testing is that the stock price is probably cheap. I do not like the balance sheet on this company and if I am misreading it, then I do not want to invest in a company I do not understand. The Dividend Payout Ratios (DPR) are fine. The current dividend yield is moderate with dividend growth flat after being cut. See my spreadsheet on CI Financial Corp.

Is it a good company at a reasonable price? I do not like the amount of debt this company has. Analysts do not seem to be worried. This company cut its dividend, for second time, in 2008 and this is never a good sign. I can see why they cut the dividend the first time as it was because they went from an income trust to a corporation. However, the second cut may be because management is not positive about the near future. The stock price seems to be quite cheap. I would think that buying this stock is risky. If you want a positive, insiders are buying.

I do not own this stock of CI Financial Corp (TSX-CIX, NYSE-CIXX). I started to follow this stock originally because it was a Mutual Fund company. People talked about it being easier to make money from buying a Mutual Fund company than buying Mutual Funds. When they became a Unit Trust in 2006, dividends were significantly increased, but these dividends proved to be unsustainable. They changed back to a corporation in 2009 and dividends were decreased in 2010.

When I was updating my spreadsheet, I noticed the company did not have a good year in 2022 and for the first quarter of 2023. Revenue is down by 14% from 2021 to 2022 to $2,334M. It is up slightly for the 12 months ending in the first quarter of 2023 but only by 0.02%. Last year Revenue estimates for 2022 and 2023 were $3,011M, $3,158M, and this year revenue estimates for 2023 and 2024 are $2,629M and $2,820M.

Last year Adjusted Earnings per Share (AEPS) estimates for 2022 to 2024 were $3.36, $3.63, and $3.78. The AEPS came in $3.10. Now estimate for 2023 to 2025 are $3.23, $3.55, and $3.51. In the first quarter of 2023, AEPS for the last 12 months is down by 3.5%. Last year Net Income estimates for 2022 and 2023 were $553M, and $599M. Net Income came in at 230M and now estimates for 2023 to 2025 are $442M, $542M, and $509M. Net Income is down for the last 12 months ending in the first quarter of 2023 by 36%.

Last year Cash Flow per Share (CFPS) estimates for 2022 and 2023 were $2.23, and $2.12. CFPS came in better at $2.60 and now estimate going forward from 2023 to 2024 are $3.82 and $2.66. CFPS for the last 12 months ending in the first quarter of 2023 is down by 2.4%.

The other thing to note is that insiders are buying. Net Insider buying is at 0.39% of Market Cap and normal Net Insider Buy would be expect to be around 0.01% or 0.02%. All the executives and directors I follow are buying. This includes CEO, CFO and Chairman.

If you had invested in this company in December 2012, for $1,022.13 you would have bought 41 shares at $24.93 per share. In December 2022, after 10 years you would have received $421.17 in dividends. The stock would be worth $553.91. Your total return would have been $975.08.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$24.93	$1,022.13	41	10	$421.17	$553.91	$975.08

The current dividend yield is moderate with dividend growth flat after being cut. The current dividend yield is moderate (2% to 4% ranges) at 4.85%. The 5, 10 and historical dividend yields are also moderate at 3.69%, 3.81% and 3.65%. The dividends have been flat from 2018 after they were decreased. At that time dividends were decreased by 49% and changed from monthly to quarterly.

This company used to be an income trust. The problem being that the income trust companies can afford to pay higher dividends than corporation. However, this company did decrease the dividends in 2010, but probably not enough as the DPR in 2010 was 66%. Analysts keep thinking that the company will increase dividends in 2022, then in 2023 now in 2024. They will probably do so sometime in the future, it is just hard to know when.

The Dividend Payout Ratios (DPR) are fine. The DPR for 2022 for Earnings per Share (EPS) is 36% with 5 year coverage at 38%. The DPR for 2022 for Adjusted Earnings per Share (AEPS) is 23% with 5 year coverage at 16%. The DPR for 2022 for Cash Flow per Share (CFPS) is 24% with 5 year coverage at 28%. The DPR for 2022 for Free Cash Flow (FCF) is 28% with 5 year coverage at 33%.

Item	Cur	5 Years
EPS	35.64%	38.17%
AEPS	23.23%	16.27%
CFPS	23.53%	28.27%
FCF	27.76%	32.69%

I do not like the balance sheet on this company and if I am misreading it, then I do not want to invest in a company I do not understand. The Long Term Debt/Market Cap Ratio for 2022 is too high at 1.56. It is currently at 1.42 but that is too high also. When this ratio is above 1.00 it means that the company’s long term debt is higher than the breakup value of the company. (In theory anyways.) The Intangible and Goodwill items for this company for 2022 is why too high for 2022 at 3.02. The current ratio is 2.63, but this is also way too high. When it is over 1.00 it means the Intangible items and Goodwill are higher than the breakup value of the company.

The Liquidity Ratio for 2022 is too low at 0.68. Even if you add in Cash Flow after dividends, it becomes 0.66. If you add back in the debt and cash flow you get only to 0.73. However, this is a financial and analysts are generally not worried about Liquidity Ratios for financials. The Debt Ratio for 2022 is 1.20 and is fine for a financial. The Leverage and Debt/Equity Ratio are too high at 5.98 and 4.98.

Type	Ratio '22	Ratio Curr
Lg Term R	1.56	1.42
Intang/GW	3.02	2.63
Liquidity	0.68	0.56
Liq. + CF	0.66	0.73
Liq CF DB	0.73	0.81
Debt Ratio	1.20	1.20
Leverage	5.98	5.96
D/E Ratio	4.98	4.96

The Total Return per year is shown below for years of 5 to 28 to the end of 2022. Under the Capital Gain column is the portion of the Total Return attributable to capital gains. Under the Dividend column is the portion of the Total Return attributable to dividends. See chart below.

From	Years	Div. Gth	Tot Ret	Cap Gain	Div.
2017	5	-12.42%	-10.97%	-14.62%	3.65%
2012	10	5.05%	-0.60%	-5.94%	5.34%
2007	15	-7.11%	1.05%	-4.76%	5.81%
2002	20	13.23%	9.35%	0.66%	8.69%
1997	25	15.41%	19.14%	7.22%	11.92%
1994	28	17.16%	19.04%	8.30%	10.74%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 7.48, 9.87 and 12.64. The corresponding 10 year ratios are 10.28, 13.62 and 16.24. The corresponding historical ratios are 14.80, 16.92 and 19.89. The current P/E Ratio is 6.19 based on a stock price of $14.85 and EPS estimate for 2023 of $2.40. The current ratio is below the low ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively cheap.

I also have Adjusted Earnings per Share (AEPS) data. The 5-year low, median, and high median Price/Earnings per Share Ratios are 4.81, 7.48 and 9.68. The corresponding 10 year ratios are 9.48, 11.30 and 13.12. The current P/AEPS Ratio is 4.60 based on a stock price of $14.85 and AEPS estimate for 2023 of $3.23. This stock price testing suggests that the stock price is relatively cheap.

I get a Graham Price of $25.15. The 10-year low, median, and high median Price/Graham Price Ratios are 1.15, 1.38 and 1.62. The current ratio is 0.59 based on a stock price of $14.85. The current ratio is below the low ratio of the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

I get a 10-year median Price/Book Value per Share Ratio of 3.84. The current P/B Ratio is 1.71 based on a stock price of $14.85, Book Value of $1,606M and Book Value per Share of $8.70. The current ratio is 56% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

I get a 10-year median Price/Cash Flow per Share Ratio of 10.23. The current P/CF Ratio is 3.89 based on a stock price of $14.85, Cash Flow per Share estimate for 2023 of $3.82 and a Cash Flow of $705M. The current ratio is 62% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

I get an historical median dividend yield of 3.65%. The current dividend yield is 4.85% based on dividends of $0.72 and a stock price of $14.85. The current dividend yield is 33% above the historical median dividend yield. This stock price testing suggests that the stock price is relatively cheap.

I get a 10 year median dividend yield of 3.81%. The current dividend yield is 4.85% based on dividends of $0.72 and a stock price of $14.85. The current dividend yield is 27% above the historical median dividend yield. This stock price testing suggests that the stock price is relatively cheap.

The 10-year median Price/Sales (Revenue) Ratio is 3.07. The current P/S Ratio is 1.04 based on Revenue estimate for 2023 of $2,629M, Revenue per Share of $14.25 and a stock price of $14.85. The current ratio is 66% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

Results of stock price testing is that the stock price is probably cheap. The dividend yield tests are saying this and it is confirmed by the P/S Ratio test. It is interesting that the dividend yield tests are saying the stock is cheap because the dividends have been cut and then made flat. All the other testing is showing the same result, that is, the stock price is cheap.

When I look at analysts’ recommendations, I find Strong Buy (1), Buy (3) and Hold (4). The current consensus would be a Buy. The 12 month consensus stock price is $18.44. This implies a total return of 29.02% with 21.18% from capital gains and 4.85% from dividends.

There are lots of comments from analysts on Stock Chase, but mainly they agree it is cheap. It is not currently on the Money Sense lists, but it used to be. Stock Chase gives this stock 4 stars out of 5. Jitendra Parashar on Motley Fool says the stock crashed after releasing first quarter results. Ambrose O'Callaghan on Motley Fool says this dividend stock is worth snatching up. The company put out a Press Release about their results for 2022. The company put out a Press Release for their first quarter of 2023 results.

Simply Wall Street via Yahoo Finance talks about dividends payments by this company. Simply Wall Street has 4 warnings on this stock of debt is not well covered by operating cash flow; unstable dividend track record; large one-off items impacting financial results; and profit margins (6.6%) are lower than last year (14.7%). Simply Wall Street gives this stock 2 and one-half stars out of 5.

CI Financial is a diversified provider of wealth management products and services, primarily in the Canadian market. Its web site is here CI Financial Corp.

The last stock I wrote about was about was Waste Connections Inc (TSX-WCN, NYSE-WCN) ... learn more. The next stock I will write about will be Computer Modelling Group Ltd (TSX-CMG, OTC-CMDXF) ... learn more on Friday, June 23, 2023 around 5 pm. Tomorrow on my other blog I will write about Dividend Information .... learn more on Thursday, June 22, 2023 around 5 pm.

This blog is meant for educational purposes only and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.