Telus Corp

Sound bite for Twitter and StockTwits is: Dividend Growth Telecom. Results of stock price testing is that the stock price is probably reasonable, but could be cheap. Debt Ratios all could improve and they have a lot of debt. The Dividend Payout Ratios (DPR) for AEPS needs to improve with DPR for Cash Flow the only one reasonable. The current dividend yield is good with dividend growth low. See my spreadsheet on Telus Corp.

Is it a good company at a reasonable price? For my tastes, I find the debt too high and I do not like the Liquidity Ratios. Also, I did not like the Dividend Payout Ratio for the Adjusted Earnings per Share (AEPS). This ratio is not expected to decline anytime soon. These are the negatives. I like a total return of at least 8% and this stock does not always meet that level. It is a positive that some officers are buying shares. It is interesting that analysts’ recommendations are covering almost all categories, but buys do outnumber the holds. The stock price is testing as reasonable, but the dividend yield tests do point to a cheap price.

I do not own this stock of Telus Corp (TSX-T, NYSE-TU). I started to follow this stock because of a list of stock John Sartz talked about in 2008. At the Toronto Money Shows in 2009 and 2010 Aaron Dunn from KeyStone Financial Publishing Corp talked about having recommended this stock. Aaron Dunn says he likes companies with resilient business models, which are profitable and are growing their earnings. He also like companies with strong management teams, health balance sheets and compelling valuations. They look at the P/E and the Price/Cash Flow ratios. Telus Corp (TSX-T) was one of three stocks he recommended in 2009.

When I was updating my spreadsheet, I noticed that the officers I follow are buying but none of the board members I follow have bought shares in the past year. I noticed that people who investing in this stock 25 and 30 years ago only have a total return of 6%. See section on total returns below.

If you had invested in this company in December 2013, for $1,005.40 you would have bought 55 shares at $18.28 per share. In December 2023, after 10 years you would have received $591.22 in dividends. The stock would be worth $1,296.90. Your total return would have been $1,888.22. This would be a total return of 7.67% per year with 2.58% from capital gain and 5.09% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$18.28	$1,005.40	55	10	$591.32	$1,296.90	$1,888.22

The current dividend yield is good with dividend growth low. The current dividend yield is good (5% to 6% ranges) at 6.93%. The 5, 10 and historical dividend yields are moderate (2% to 4% ranges) at 4.57%, 4.45% and 4.22%. The dividend growth is low (below 8%) at 6.8% per year over the past 5 years. The last dividend increase was in 2024 and it was for 3.46%. However, this company tends to do 2 dividend increases each year.

The Dividend Payout Ratios (DPR) for AEPS needs to improve with DPR for Cash Flow the only one reasonable. The DPR for 2023 for Earnings per Share (EPS) are too high at 246% with 5 year coverage at 118%. The DPR for 2023 for Adjusted Earnings per Share (AEPS) are too high at 150.46% with 5 year coverage at 118%. The DPR for 2023 for Cash Flow per Share (CFPS) is fine at 42% with 5 year coverage is good at 27%. The DPR for 2023 for Free Cash Flow (FCF) is too high at 102% with 5 year coverage at 190%. However, all the sites I look at for FCF, disagree on what it is.

Item	Cur	5 Years
EPS	246.45%	117.77%
AEPS	150.46%	117.77%
CFPS	42.31%	37.01%
FCF	102.10%	190.42%

Debt Ratios all could improve and they have a lot of debt. The Long Term Debt/Market Cap Ratio for 2023 is fine at 0.67 and currently at 0.75. The Liquidity Ratio for 2023 is good at 1.55 and 1.50 currently. If you added in Cash Flow after dividends, the ratios are far too low at 0.67 and currently at 1.03. You need to add back the current portion of the long term debt to get to something in the reasonable range with a ratio at 1.26 and currently at 1.57. Problems can occur if a company cannot roll over its long term debt. The Debt Ratio for 2023 is fine at 1.45 and 1.42 currently. The Leverage and Debt/Equity Ratios for 2023 are too high at 3.24 and 2.24 and currently at 3.36 and 2.36.

Type	Year End	Ratio Curr
Lg Term R	0.67	0.75
Intang/GW	0.86	0.93
Liquidity	0.67	0.66
Liq. + CF	0.92	1.03
Liq, CF DB	1.26	1.57
Debt Ratio	1.45	1.42
Leverage	3.24	3.36
D/E Ratio	2.24	2.36

The Total Return per year is shown below for years of 5 to 33 to the end of 2023. 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.
2018	5	6.77%	6.26%	0.83%	5.43%
2013	10	8.03%	7.67%	2.58%	5.09%
2008	15	8.01%	12.21%	6.40%	5.81%
2003	20	11.93%	11.85%	6.67%	5.18%
1998	25	6.14%	6.77%	3.31%	3.46%
1993	30	5.98%	8.56%	4.48%	4.08%
1990	33	10.38%	9.37%	4.94%	4.44%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 21.20, 25.32 and 29.45. The corresponding 10 year ratios are 17.72, 19.11 and 20.60. The corresponding historical ratios are 15.27, 17.33 and 19.29. The current ratio is 32.00 based on a stock price of $22.46 and EPS estimate for 2024 of $0.70. The current ratio is above the high ratio of the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive.

I also have Adjusted Earnings per Share (AEPS) data. The 5-year low, median, and high median Price/Adjusted Earnings per Share Ratios are 22.33, 25.69 and 27.98. The corresponding 10 year ratios are 16.05, 17.15 and 18.36. The current P/AEPS Ratio is 22.69 based on a stock price of $22.46 and AEPS estimate for 2024 of $0.99. The current ratio is above the high ratio for the 10 year median ratios. This stock price testing suggests that the stock price is relatively expensive.

I get a Graham Price of $15.41. The 10-year low, median, and high median Price/Graham Price Ratios are 1.40, 1.58 and 1.70. The current ratio is 1.46 based on a stock price of $22.46. 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 2.76. The current P/B Ratio is 2.11 based on a Book Value of $15,809M, Book Value per Share of $10.67 and a stock price of $22.46. The current ratio is 24% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

I also have a Book Value per Share estimate for 2024 of $10.57. This implies a ratio of 2.12 based on a stock price of $22.46 and with a Book Value of $15,665M. This ratio is 23% 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 7.28. The current ratio is 5.73 based on Cash Flow per Share estimate for 2024 of $3.92, Cash Flow of $5,809M and a stock price of $22.46. 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 an historical median dividend yield of 4.22%. The current dividend yield is 6.93% based on a stock price of $22.46 and dividends of $1.5304. The current dividend yield is 64% 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 4.45%. The current dividend yield is 6.93% based on a stock price of $22.46 and dividends of $1.5304. The current dividend yield is 56% 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 2.02. The current P/S Ratio is 1.64 based on Revenue estimate for 2024 of $20,240M, Revenue per Share of $13.66 and a stock price of $22.46. The current ratio is 18.5% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median.

Results of stock price testing is that the stock price is probably reasonable, but could be cheap. The dividend yield tests are showing the stock price as relatively cheap. However, the P/S Ratio test is showing the stock price as reasonable, but it is relatively close to cheap. The rest of the testing varies from expensive (P/E, P/AEPS) to cheap (P/B, P/CF) with the P/GP showing the stock price as reasonable.

When I look at analysts’ recommendations, I find Strong Buy (5), Buy (5), Hold (7), and Underperform (1). The consensus would be a Buy. The 12 month stock price consensus is $24.79 with a high of $33.00 and low of $21.50. The consensus stock price of $24.79 implies a total return of 17.30% with 10.37% from capital gains and 6.93% from dividends based on a current stock price of $22.46.

There are lots of entries on Stock Chase for 2024 with combination of Buy, Do Not Buy and Hold recommendations. Stock Chase gives this stock 5 stars out of 5. Sneha Nahata on Motley Fool thinks this stock is remarkably cheap and a current Buy. Andrew Walker on Motley Fool also thinks this stock is at a bargain price. The company put out a Press Release about their fourth quarter of 2023. The company put out a press release on Newswire about their second quarter of 2024.

Simply Wall Street via Yahoo Finance put out a review of this stock. Simply Wall Street gives this stock 2 and one half stars out of 5. They have 4 warnings of interest payments are not well covered by earnings; dividend of 6.74% is not well covered by earnings or free cash flows; shareholders have been diluted in the past year; and large one-off items impacting financial results.

Telus is one of the Big Three wireless service providers in Canada. It is the incumbent local exchange carrier in the western Canadian provinces of British Columbia and Alberta, where it provides internet, television, and landline phone services. It also has a small wireline presence in eastern Quebec. Mostly because of recent acquisitions, more than 20% of Telus' sales now come from non-telecom businesses, most notably in the international business services, health, security, and agriculture industries. The firm has a 55% economic stake in Telus International. Its web site is here Telus Corp.

The last stock I wrote about was about was Accord Financial Corp (TSX-ACD, OTC-ACCFF) ... learn more. The next stock I will write about will be There will be no blog on Friday, September 13 as I will be at the Money Show. The next stock I will write about will be Trican Well Service Ltd (TSX-TCW, OTC-TOLWF) ... learn more on Monday, September 16, 2024 around 5 pm. Tomorrow on my other blog I will write about TD Bank .... learn more on Thursday, September 12, 2024 around 5 pm.

This blog is meant for educational purposes only and is not to provide investment advice. I am not a licensed professional investment advisor. 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.

Accord Financial Corp

Sound bite for Twitter and StockTwits is: Financial Sector Stock. 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 current dividend yield has been in the moderate range with dividends currently cancelled. See my spreadsheet on Accord Financial Corp .

Is it a good company at a reasonable price? As I mentioned last Wednesday, I bought some of this stock with my fooling around money. I understand the risks I am taking with this money. They have cancelled their dividend and generally this is a negative, but I also think it is a reasonable thing for this company to do. So any investment will no longer be saved by dividends. This stock is testing as relatively cheap.

I do not own this stock of Accord Financial Corp (TSX-ACD, OTC-ACCFF). Fred Poulin from StockTwits recommended this stock saying it was a small cap that pay dividends. Also, the stock has a solid background and would be a good filler stock.

When I was updating my spreadsheet, I noticed they lost money this year mainly due to writing off their Goodwill and taking a Provision for Credit Losses. There stock took a deep dive during covid, then recovered up to June 2022, but since then has fallen steadily. They also cut their dividends. This is never a good sign as it tends to signal that the company is not optimistic about the future.

They took a 13.1M loss on a $14.4M loan after the company found irregularities in the collateral reporting by a borrower. This borrower then filed for bankruptcy. Bankruptcy trustee said borrower has been perpetrating a carefully concealed fraud. This occurred in November of 2023. As with a lot of dividends paying stocks, you tend not to lose money, or loss much when they get into problems.

If you had invested in this company in December 2013, for $1,006.08 you would have bought 128 shares at $7.86 per share. In December 2023, after 10 years you would have received $394.88 in dividends. The stock would be worth $590.08. Your total return would have been $984.96. This would be a total loss of 0.26%% per year with 5.20% from capital loss and 4.93% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$7.86	$1,006.08	128	10	$394.88	$590.08	$984.96

The current dividend yield has been in the moderate range with dividends currently cancelled. Until dividends were cancelled this year the dividends were in a moderate (2% to 4%) range and around 3%. The 5, 10 and historical median dividend yields are 3.61%, 3.72% and 2.71%. The dividends were cancelled this year after the third quarterly dividend was paid. This company has paid dividends for 36 years. They raised dividends 23 times. They cut dividends 3 times, but all these are recent. The dividend was cancelled in 2024, but I think that this is a reasonable thing for the company to do.

The Dividend Payout Ratios (DPR) are fine. The DPR for 2023 for Earnings per Share (EPS) is negative with 5 year coverage far too high at 201%. The DPR for 2023 for Adjusted Earnings per Share (AEPS) is good at 33% with 5 year coverage fine at 67%. The DPR for 2023 for Cash Flow per Share (CFPS) is good at 18% with 5 year coverage at 22%. The DPR for 2023 for Free Cash Flow (FCF) is good at 27% with 5 year coverage to high at 141%. However, MS has revised FCF going back 10 years. They have done this on a number of stocks. You have wonder how good it is to even bother with FCF. They seem to change their minds every few years on how to calculate FCF. It is therefore not my favourite item.

Item	Cur	5 Years
EPS	-13.16%	200.76%
AEPS	33.09%	66.65%
CFPS	17.91%	21.87%
FCF	26.71%	141.49%

Debt Ratios are fine. The Long Term Debt/Market Cap Ratio for 2023 is high at 9.79 and currently at 11.37. However, we need also to look at the Long Term Debt/Covering Assets Ratio for 2023 which is good at 0.0.81 and currently at 0.0.81 because this is an important one for a Financial. The Liquidity Ratio for 2023 is good at 15.25 and 14.28 currently. The Debt Ratio for 2023 is fine at 1.21 and 1.22 currently. The Leverage and Debt/Equity Ratios for 2023 are good at 6.12 and 5.06 and currently at 15.88 and 4.83. (This is a financial and note the same ratios are 17.03 and 16.03 for the Royal Bank.)

Type	Year End	Ratio Curr
Lg Term R	9.79	11.37
Lg Term A	0.81	0.81
Intang/GW	0.08	0.09
Liquidity	15.25	14.28
Liq. + CF	14.36	15.08
Debt Ratio	1.21	1.22
Leverage	6.12	5.88
D/E Ratio	5.06	4.83

The Total Return per year is shown below for years of 5 to 31 to the end of 2023. 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.
2018	5	-8.97%	-8.90%	-12.70%	3.80%
2013	10	-3.46%	-0.26%	-5.20%	4.93%
2008	15	-0.43%	4.24%	-1.53%	5.77%
2003	20	0.59%	4.25%	-2.10%	6.35%
1998	25	0.47%	7.23%	0.28%	6.95%
1993	30	5.93%	8.44%	1.70%	6.74%
1992	31	7.16%	11.04%	3.08%	7.96%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 11.05, 12.34 and 13.62. The corresponding 10 year ratios are 10.24, 11.44 and 12.65. The corresponding historical ratios are 8.56, 10.42 and 11.75. The current P/E Ratio is 6.72 based on a stock price of $4.10 and EPS estimate for 2024 of $0.61. 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 also have Adjusted Earnings per Share (AEPS) data. The 5-year low, median, and high median Price/Adjusted Earnings per Share Ratios are 14.48, 16.16, 17.84. The corresponding 10 year ratios are 8.75, 9.76 and 11.14. The current P/AEPS is 6.72 based on AEPS estimate for 2024 of $0.61 and a stock price of $4.10. 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 $11.26. The 10-year low, median, and high median Price/Graham Price Ratios are 0.61, 0.69 and 0.76. The current P/GP Ratio is 0.36 based on a stock price of $4.10. 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 0.92. The current P/B Ratio is 0.44 based on a Book Value of $79M, Book Value per Share of $9.23 and a stock price of $4.10. The current ratio is 52% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap. I also have a Book Value per Share estimate for 2024 of $10.09. This implies a ratio of 0.41 based on a stock price of 4.10 with a Book Value of $86.4M. This 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 which is negative and so useless for testing. However, the current ratio is a very low one of $0.32 based on last 12 months of Cash Flow of $109.6M, Cash Flow per Share of $12.80 and a stock price of $4.10. This suggests that the stock price is relatively cheap.

They have just cancelled their dividends, so I cannot do any dividend testing.

The 10-year median Price/Sales (Revenue) Ratio is 1.76. The current P/S Ratio is 0.44 based on Revenue estimate for 2024 of $80M, Revenue per Share of $9.35 and a stock price of $4.10. The current ratio is 75% 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 test for P/S Ratio says this. All the other tests are saying the same thing.

When I look at analysts’ recommendations, I find one Strong Buy. The 12 month target price is $8.60. There is only one analyst following this according to Market Screener. Yahoo Finance says there are two analysts, both with a Buy recommendation, and with a one target of $8.60. Wall Street Journal (WSJ) has one analyst and a Strong Buy. The target price of $8.60 implies a total return of 109.76%, all from capital gains.

This stock is not well followed on Stock Chase and the last two entries were a buy but occurred in 2013 and 2014. Stock Chase gives this stock 1 star out of 5. There are no entries on Motley Fool. I found a report on this stock at Leede Financial. This is a PDF. They are on Twitter @accordfincorp.

Accord Financial Corp is a provider of asset-based financial services to businesses. The company's asset-based financial services include asset-based lending, including factoring, lease financing, working capital financing, credit protection and receivables management, and supply chain financing for importers. The company's revenue comprises interest, including discount fees, and factoring commissions from the company's asset-based financial services, including factoring and leasing, and is measured at the fair value of the consideration received. The company's geographical segments include Canada and the United States. Its web site is here Accord Financial Corp.

The last stock I wrote about was about was Cargojet Inc (TSX-CJT, OTC-CGJTF) ... learn more. The next stock I will write about will be Telus Corp (TSX-T, NYSE-TU) ... learn more on Wednesday, September 11, 2024 around 5 pm. Tomorrow on my other blog I will write about Canadian Banks .... learn more on Tuesday, September 10, 2024 around 5 pm.

This blog is meant for educational purposes only and is not to provide investment advice. I am not a licensed professional investment advisor. 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.

Cargojet Inc

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

Is it a good company at a reasonable price? I guess the question is, will this company continue to grow and that is hard to answer. If I was looking to buy this stock, I would find it disconcerting that there is a lot of insiders selling. It would seem it is a good buy if it continues to grow and not a good buy if its growth is finished. Are insiders signaling that growth is stopping? You have to wonder about this. My stock price testing is pointing to a relatively reasonable price.

I do not own this stock of Cargojet Inc (TSX-CJT, OTC-CGJTF). I started to following this stock after reading an article on it. The article said that this airline is not only resilient in the face of this unprecedented socio-economic crisis, but it is also in a spot to thrive, as demand for its overnight shipping services is likely to remain stable amid this pandemic. See article.

Cargojet Inc (CJT) operates a domestic overnight air cargo co-load network between fourteen Canadian cities. The company also provides dedicated aircraft to customers on an Aircraft, Crew, Maintenance, and Insurance (ACMI) basis, operating between points in Canada and the USA. As well, the company operates scheduled international routes for multiple cargo customers between the USA and Bermuda. Small cap with dividends in 1% range.

When I was updating my spreadsheet, I noticed there is a lot of insiders selling. All the officers and directors I follow have either reduced their shares or keep what they had. None that I follow have bought any shares.

If you had invested in this company in December 2013, for $1,011.50 you would have bought 70 shares at $14.45 per share. In December 2023, after 10 years you would have received $593.50 in dividends. The stock would be worth $8,341.90. Your total return would have been $8,935.40. This would be a total return of 25.90% per year with 23.49% from capital gain and 2.42% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$14.45	$1,011.50	70	10	$593.50	$8,341.90	$8,935.40

The current dividend yield is low with dividend growth low. The current dividend yield is low (below 2%) at 1.12%. The 5 and 10 year median dividend yields are also low at 0.85% and 1.11%. The historical median dividend yield is moderate (2% to 4% range) at 2.88%. The dividend growth is low (below 8% per year) at 6.7% per year over the past 5 years. The last dividend increase was in 2024 and it was for 11.25%.

The Dividend Payout Ratios (DPR) are fine. The DPR for 2023 for Earnings per Share (EPS) is fine at 53% with 5 year coverage is good at 30%. The DPR for 2023 for Adjusted Earnings per Share (AEPS) is fine at 56% with 5 year coverage is good at 39%. The DPR for 2023 for Cash Flow per Share (CFPS) is good at 7% with 5 year coverage at 6%. The DPR for 2023 for Free Cash Flow (FCF) is good at 10% with 5 year coverage is negative.

Item	Cur	5 Years
EPS	52.72%	29.91%
AEPS	55.53%	39.10%
CFPS	6.93%	6.36%
FCF	9.97%	-24.54%

Debt Ratios are fine. The Long Term Debt/Market Cap Ratio for 2023 is good at 0.34 and currently at 0.23. The Liquidity Ratio for 2023 is fine at 1.49 and too low at 0.59 currently. If you added in Cash Flow after dividends, the ratios are fine at 2.42 and currently at 1.88. The Debt Ratio for 2023 is good at 1.63 and 1.61 currently. The Leverage and Debt/Equity Ratios for 2023 are fine at 2.60 and 1.60 and currently at 2.63 and 1.63.

Type	Year End	Ratio Curr
Lg Term R	0.34	0.23
Intang/GW	0.03	0.02
Liquidity	1.49	0.59
Liq. + CF	2.42	1.88
Debt Ratio	1.63	1.61
Leverage	2.60	2.63
D/E Ratio	1.60	1.63

The Total Return per year is shown below for years of 5 to 18 to the end of 2023. 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.
2018	5	6.67%	12.15%	10.98%	1.17%
2013	10	6.73%	25.90%	23.49%	2.42%
2008	15	0.82%	38.20%	29.85%	8.35%
2005	18	2.30%	18.73%	15.02%	3.71%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 11.02, 14.87 and 23.28. The corresponding 10 year ratios are 16.64, 20.60 and 26.83. The corresponding historical ratios are 12.18, 14.87 and 18.92. The current P/E Ratio is 33.81 based on a stock price of $124.99 and EPS estimate for 2024 of $3.70. The current ratio is above the high ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively expensive.

I also have Adjusted Earnings per Share (AEPS) data. The 5-year low, median, and high median Price/Adjusted Earnings per Share Ratios are 16.09, 21.72 and 36.53. The corresponding 10 year ratios are 129.18, 24.02 and 33.46. The current P/AEPS Ratio is 27.78 based on a stock price of $124.99 and AEPS estimate of $4.50. 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 but above the median.

I get a Graham Price of $66.54. The 10-year low, median, and high median Price/Graham Price Ratios are 2.33, 2.96 and 3.71. The current P/GP Ratio is 1.88 based on a stock price of $124.99. The current ratio is below the low ratios 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 4.31. The current P/B Ratio is 2.86 based on a Book Value of $706M, Book Value per Share of 43.73 and a stock price of 124.99. The current ratio is 34% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

I also have a Book Value per Share estimate for 2024 of $43.30. This implies a Book Value of $699M and a ratio of 2.89 based on a stock price of $124.99. This ratio is 33% 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 8.60. The current P/CF Ratio is 6.06 based on a stock price of $124.99, Cash Flow per Share estimate for 2024 of $20.63 and Cash Flow of $333M. 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 2.88%. The current dividend yield is 1.12% based on dividends of $1.294 and a stock price of $124.99. The current dividend yield is 61% below the historical median dividend yield. This stock price testing suggests that the stock price is relatively expensive.

I get a 10 year median dividend yield of 1.11%. The current dividend yield is 1.12% based on dividends of $1.294 and a stock price of $124.99. The current dividend yield is 1% 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 2.09. The current P/S Ratio is 2.07 based on Revenue estimate for 2024 of $977M, Revenue per Share of $60.47 and a stock price of $124.99. The current ratio s is 1.3% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median.

Results of stock price testing is that the stock price is probably reasonable. The 10 year median dividend yield is pointing to a reasonable price. This is confirmed by the P/S Ratio test. Other tests vary from cheap to expensive, but more say cheap than expensive.

When I look at analysts’ recommendations, I find Strong Buy (6), Buy (3) and Hold (2). The consensus would be a Strong Buy. The 12 months stock price consensus is $162.27 with a high of $189.00 and low of $120.00. The consensus stock price of $162.27 implies a total return of 30.95% with 29.83% from capital gains and 1.12% from dividends based on a current price of $124.99.

On Stock Chase there are various opinions about this stock. Some say Buy and some Do Not Buy. Some thought the company was very volatile and that growth has stopped. Others though it was currently a good Buy. Stock Chase gives this stock 4 stars out of 5. Amy Legate-Wolfe on Motley Fool thinks this stock is a long term growth gem. Daniel Da Costa on Motley Fool says this is a growth stock being sold ultra-cheaply. The company put out a press release via Newswire about their fourth quarter of 2023. The company put out a press release on Newswire about their second quarter results for 2024.

Simply Wall Street via Yahoo Finance put out a report on this stock saying that the stock’s fair value is $121.10 CDN$. Simply Wall Street gives this stock 2 and one half stars out of 5. Simply Wall Street has two warnings out on this stock of interest payments are not well covered by earnings; and significant insider selling over the past 3 months.

Cargojet Inc operates a domestic air cargo co-load network between major Canadian cities. The company provides dedicated aircraft to customers on an Aircraft, Crew, Maintenance, and Insurance basis, operating between points in Canada, USA, Mexico, and Europe. The company also operates scheduled international routes for multiple cargo customers between the USA and Bermuda, between Canada, UK, and Germany, and between Canada and Mexico. Its web site is here Cargojet Inc.

The last stock I wrote about was about was SmartCentres REIT (TSX-SRU.UN, OTC-CWYUF) ... learn more. The next stock I will write about will be Accord Financial Corp (TSX-ACD, OTC-ACCFF) ... learn more on Monday, September 9, 2024 around 5 pm.

This blog is meant for educational purposes only and is not to provide investment advice. I am not a licensed professional investment advisor. 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.

Also, on my book blog I have put a review of the book Cities That Shaped the Ancient World by John Julius Norwich learn more...

SmartCentres REIT

Yesterday I bought some shares in Accord Financial Corp (TSX-ACD, OTC-ACCFF), which I am putting up a review on Monday September 9. I do not expect much to happen with this stock for a while. I bought this stock with my fooling around money. The company has taken a big hit. It is a risk and the sort of stock currently that no one should buy with money they cannot afford to lose.

Sound bite for Twitter and StockTwits is: Dividend Growth Real Estate. Results of stock price testing is that the stock price is probably reasonable but could be cheap. Debt Ratios are fine. The Dividend Payout Ratios (DPR) are high, but the AFFO and FFO DPRs are fine. The current dividend yield is high with dividend growth low. See my spreadsheet on SmartCentres REIT.

Is it a good company at a reasonable price? I bought this stock for diversification purposes. It does fulfill the reason I bought it. It pays a good dividend and it does increase the dividend, all be it on at a low rate. I would prefer that the total return be closer to 8% per year, but I do think that, in time, it will get to this total return. The stock price is mostly testing as reasonable, but the 10 year median dividend test does say the stock is cheap.

I own this stock of SmartCentres REIT (TSX-SRU.UN, OTC-CWYUF). Once you have 5 or 6 stocks, you might want to consider a REIT for diversification. REITs are an easy way to investment in real estate. I am therefore following a few REIT stocks and in 2009 I decided to look at a few on the Dividend Achiever's List. It is not always on this list because of periods of flat dividends.

When I was updating my spreadsheet, I noticed that there is insider buying by the CFO and the Chairman and CEO. Mitchell Goldhar holds both positions of Chairman and CEO. I have made a total return over the past 4 years of 6.58% with 7.83% from dividends and a capital loss of 1.25%.

The current dividend yield is high with dividend growth low. The current dividend yield is high (7% and above) at 7.09%. The 5 year median dividend yield is also high at 7.40%. The 10 year and historical median dividend yields are good (5% to 6% ranges) at 5.87% and 6.05%. Dividend increases are low (below 8% per year) at 1.02% per year over the past 5 years. The last dividend increase was in 2020 and it was for 2.8%. This stock has raised their dividends 12 times over the past 21 years.

The Dividend Payout Ratios (DPR) are high, but the AFFO and FFO DPRs are fine. The DPR for 2023 for Earnings per Share (EPS) is high at 81% with 5 year coverage at 75%. The DPR for 2023 for Adjusted Funds from Operations (AFFO) is too high at 101% with 5 year coverage better at 92%. The DPR for 2023 for Funds from Operations (FFO) is high at 82% with 5 year coverage at 85%. However, DPRs for AFFO and FFO are considered fine at 95% to lower. The DPR for 2023 for Cash Flow per Share (CFPS) is high at 65% with 5 year coverage at 67%. The DPR for 2023 for Free Cash Flow (FCF) is high at 81% with 5 year coverage at 73%.

Item	Cur	5 Years
EPS	80.53%	75.41%
AFFO	101.10%	91.84%
FFO	82.22%	85.06%
CFPS	65.59%	66.64%
FCF	81.34%	73.26%

Debt Ratios are fine. The Long Term Debt/Market Cap Ratio for 2023 is high at 1.04 and currently better at 0.96. However, we need also to look at the Long Term Debt/Covering Assets Ratio for 2023 which is good at 0.41 and currently at 0.39 because this is an important one for a REIT. The Liquidity Ratio for 2023 is very low at 0.35 and 0.17 currently. If you added in Cash Flow after dividends and add back the current debt, the ratios are fine at 1.54 and currently at 1.12. This is not an important ratio for REITs. The Debt Ratio for 2023 is good at 2.11 and 2.12 currently. For REITs this is a more important ratio than Liquidity. The Leverage and Debt/Equity Ratios for 2023 are good at 1.90 and 0.90 and currently at 1.89 and 0.89.

Type	Year End	Ratio Curr
Lg Term R	1.04	0.96
Lg Term A	0.41	0.39
Intang/GW	0.01	0.01
Liquidity	0.35	0.17
Liq. + CF	0.37	0.18
Liq CF DT	1.45	1.12
Debt Ratio	2.11	2.12
Leverage	1.90	1.89
D/E Ratio	0.90	0.89

The Total Return per year is shown below for years of 5 to 26 to the end of 2023. 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.
2018	5	1.02%	2.29%	-4.19%	6.48%
2013	10	1.80%	6.80%	-0.11%	6.91%
2008	15	1.20%	16.43%	5.37%	11.06%
2003	20	2.40%	12.16%	3.01%	9.15%
1998	25		13.18%	4.90%	8.28%
1997	26		26.72%	10.91%	15.81%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 9.26, 10.88 and 12.49. The corresponding 10 year ratios are 12.72, 13.80 and 15.05. The corresponding historical ratios are 12.99, 16.02 and 18.45. The current P/E Ratio is 19.61 based on a stock price of $26.08 and EPS estimate for 2024 of $1.33. This ratio is above the high ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively expensive. However, for REITs the testing for FFO and AFFO are more important.

Adjusted Funds from Operations (AFFO) data. The 5-year low, median, and high median Price/ Adjusted Funds from Operations Ratios are 11.63, 13.66 and 15.70. The corresponding 10 year ratios are 13.18, 14.61 and 15.98. The current P/AFFO Ratio is 14.10 based on AFFO estimate for 2024 of $1.85 and a stock price of $26.08. 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.

Funds from Operations (FFO) data. The 5-year low, median, and high median Price/ Funds from Operations Ratios are 9.46, 11.11 and 15.15. The corresponding 10 year ratios are 12.43, 13.60 and 15.24. The current P/FFO Ratio is 12.85 based on FFO estimate for 2024 of $2.03 and a stock price of $26.08. 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 Graham Price of $30.35. The 10-year low, median, and high median Price/Graham Price Ratios are 0.79, 0.87 and 0.94. The current P/GP Ratio is 0.86 based on a stock price of $26.08. 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 1.12. The current P/B Ratio is 0.85 based on a Book Value of $5,243, Book Value per Share of $30.79 and a stock price of $26.08. The current ratio is 25% 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 13.91. The current ratio is 13.28 based on Cash Flow for the last 12 months of $331.3M, Cash Flow per Share of $1.96 and a stock price of $26.08. The current ratio is 4% below the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I get an historical median dividend yield of 6.05%. The current dividend yield is 7.09% based on dividends of $1.85 and a stock price of $26.08. The current dividend yield is 17% above the historical median dividend yield. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I get a 10 year median dividend yield of 5.87%. The current dividend yield is 7.09% based on dividends of $1.85 and a stock price of $26.08. The current dividend yield is 20.9% 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 6.10. The current P/S Ratio is 4.93 based on Revenue estimate for 2024 of $900, revenue per share of 5.29 and a stock price of $26.08. The current ratio is 19% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median.

Results of stock price testing is that the stock price is probably reasonable but could be cheap. The 10 year median dividend yield testing says that the stock price is cheap, so the stock price could be cheap. The P/S Ratio testing says that the stock price is reasonable. Most of the rest of the testing is showing the stock price as reasonable except for the P/B Ratio testing that is showing the stock price as cheap.

When I look at analysts’ recommendations, I find Strong Buy (1), Buy (1), Hold (5), and Underperform (1). The consensus would be a Hold. The 12 month stock price consensus is $25.00 with a high of $28.00 and low of $23.50. The consensus stock price of $25.00 implies a total return of 2.95% with a capital loss of 4.14% and dividends of 7.09% based on a current stock price of $26.08.

The only entry on Stock Chase for 2023 says Do Not Buy. It is not growing as well as other REITs, but you could buy for its secure high dividend. Stock Chase gives this stock 3 stars out of 5. Amy Legate-Wolfe on Motley Fool reviews this stocks and talks about the pros and cons of investing in it. Sneha Nahata on Motley Fool says invest in this stock for passive income. The company put out a press release via Newswire about their fourth quarter of 2023. The company put out a press release via Newswire about their second quarter of 2024 results.

Simply Wall Street gives this stock 2 and one half stars out of 5. Simply Wall Street gives one warning of debt is not well covered by operating cash flow. They have no stock review. The web site tipranks says what bulls and bears are saying about this stock. A site c alled Markdale Financial Managment compares this company to Allied properties.

SmartCentres Real Estate Investment Trust is a Canadian fully integrated commercial and residential REIT. The company is developing complete, connected, mixed-use communities on its existing retail properties, under its wholly-owned residential sub-brand, SmartLiving. The Trust develops, leases, constructs, owns and manages shopping centres, office buildings, high-rise and low-rise condominiums and rental residences, seniors' housing, townhome units, self-storage rental facilities, and industrial facilities in Canada. Its web site is here SmartCentres REIT.

The last stock I wrote about was about was High Liner Foods (TSX-HLF, OTC-HLNFF) ... learn more. The next stock I will write about will be Cargojet Inc (TSX-CJT, OTC-CGJTF) ... learn more on Friday, September, 6, 2024 around 5 pm. Tomorrow on my other blog I will write about Something to Buy September 2024.... learn more on Thursday, September 5, 2024 around 5 pm.

This blog is meant for educational purposes only and is not to provide investment advice. I am not a licensed professional investment advisor. 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.

Also, on my book blog I have put a review of the book The Mending by Lynne Golding learn more...

High Liner Foods

Sound bite for Twitter and StockTwits is: Dividend Growth Consumer. Results of stock price testing is that the stock price is reasonable and maybe even be cheap. Debt Ratios are fine. The Dividend Payout Ratios (DPR) are good. The current dividend yield is moderate with dividend growth restarted. See my spreadsheet on High Liner Foods.

Is it a good company at a reasonable price? Basically, I like stocks that grow their dividends and produce at least an 8% total return (dividends and capital gains) in most periods. The dividends for this stock have been fine. They have been paying dividends for 25 years and just recently had problems. If you keep stock for the long term, companies can run into problems. The problem I see is that in a lot of periods, this company is not paying an 8% total return. The stock price is currently reasonable and maybe cheap as the dividend tests point out.

I did my testing using CDN$ rather than US$. The financials are in US$, but the dividend is paid in CDN$. The problem I have is that this stock is seldom traded in US$. I thought testing is CDN$ was more valid.

I do not own this stock of High Liner Foods (TSX-HLF, OTC-HLNFF). When I started to follow this stock, it was liked by the Investment Reporter and was considered to be of average risk. The Investment reporter no longer exists. Ryan Irvine of Keystone also liked this company at that time.

When I was updating my spreadsheet, I noticed there seems to be a number of changes in officers between last year and this year. A number of people on the INK reports of insiders in 2023 are not in the 2024 report and there are a number of new people in the 2024 report. Also, although officers have options, only one person seems to have shares. This is different from the Directors who mostly hold common shares in the company.

If you had invested in this company in December 2013, for $1,004.64 you would have bought 42 shares at $23.92 per share. In December 2023, after 10 years you would have received $182.07 in dividends. The stock would be worth $496.44. Your total return would have been $678.51. This would be a total loss of 4.32% per year with 6.81% from capital loss and 2.48% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$23.92	$1,004.64	42	10	$182.07	$496.44	$678.51

Contrast the above 10 year return and this 5 year return. If you had invested in this company in December 2018, for $1,003.46 you would have bought 42 shares at $7.66 per share. In December 2023, after 5 years you would have received $235.15 in dividends. The stock would be worth $1,548.42. Your total return would have been $1,783.57. This would be a total return of 12.88% per year with 9.06% from capital gain and 3.81% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$7.66	$1003.46	131	5	$235.15	$1,548.42	$1,783.57

The current dividend yield is moderate with dividend growth restarted. The current dividend yield is moderate (2% to 4% ranges) at 4.44%. The 5, 10 and historical dividend yields are also moderate at 3.12%, 2.92% and 2.57%. Over the past 5 years, the dividends have declined by 1.4% per year. Dividends were cut in 2019. They started to increase them again in 2021. Dividends currently are 3% higher than 2018. The last dividend increase was in 2023 and it was for 15.4%. Over the past 25 years, dividends have gone up in 14 years and have declined in 2 years.

The Dividend Payout Ratios (DPR) are good. The DPR for 2023 for Earnings per Share (EPS) is good at 44% with 5 year coverage at 29%. The DPR for 2023 for Adjusted Earnings per Share (AEPS) is good at 36% with 5 year coverage at 23%. The DPR for 2023 for Cash Flow per Share (CFPS) is good at 15% with 5 year coverage at 10%. The DPR for 2023 for Free Cash Flow (FCF) is good at 6% with 5 year coverage at 18%.

Item	Cur	5 Years
EPS	43.90%	28.40%
AEPS	35.81%	23.21%
CFPS	15.20%	10.04%
FCF	6.36%	17.75%

Debt Ratios are fine. The Long Term Debt/Market Cap Ratio for 2023 is fine at 0.83 and currently at 0.78, but are better if below 0.50. The Liquidity Ratio for 2023 is good at 2.55 and 2.88 currently. The Debt Ratio for 2023 is good at 1.86 and 1.98 currently. The Leverage and Debt/Equity Ratios for 2023 are fine at 2.16 and 1.16 and currently at 2.02 and 1.02.

Type	Year End	Ratio Curr
Lg Term R	0.83	0.78
Intang/GW	0.99	0.94
Liquidity	2.55	2.88
Liq. + CF	3.57	3.21
Debt Ratio	1.86	1.98
Leverage	2.16	2.02
D/E Ratio	1.16	1.02

The Total Return per year is shown below for years of 5 to 40 to the end of 2023 in CDN$. 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.
2018	5	-1.42%	12.88%	9.06%	3.81%
2013	10	4.43%	-4.32%	-6.81%	2.48%
2008	15	11.28%	14.12%	8.45%	5.67%
2003	20	9.28%	7.48%	4.14%	3.33%
1998	25		5.45%	3.11%	2.34%
1993	30		6.97%	4.80%	2.17%
1988	35		-0.33%	-1.49%	1.16%
1983	40		0.64%	-0.51%	1.15%

The Total Return per year is shown below for years of 5 to 19 to the end of 2023 in US$. 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.
2018	5	-0.81%	16.21%	11.90%	2.46%
2013	10	2.24%	-6.60%	-8.92%	2.41%
2008	15	10.71%	13.72%	7.59%	3.76%
2004	19	8.74%	7.61%	3.80%	3.40%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 6.95, 8.52 and 11.20. The corresponding 10 year ratios are 8.96, 13.90 and 18.18. The corresponding historical ratios are 8.25, 10.42 and 12.89. The current P/E Ratio is 7.82 based on a stock price of $13.40 and EPS estimate for 2024 of $1.71 ($1.27 US$). 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 also have Adjusted Earnings per Share (AEPS) data. The 5-year low, median, and high median Price/Adjusted Earnings per Share Ratios are 5.92, 7.99 and 9.47. The corresponding 10 year ratios are 6.90, 9.95 and 12.99. The current ratio is 7.36 based on stock price of $13.40 and AEPS estimate for 2024 of $1.82 ($1.35 US$). 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 $27.07. The 10-year low, median, and high median Price/Graham Price Ratios are 0.49, 0.71 and 0.93. The current P/GP Ratio is 0.49 based on a stock price of $13.40. The current ratio is at 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 1.01. The current P/B Ratio is 0.75 based on a stock price of $13.40, Book Value of $537M and Book Value per Share of $17.88. The current ratio is 26% 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 4.52. The current ratio is 5.40 based on a stock price of $13.40, Cash Flow per Share estimate for 2024 of $2.48 ($1.84 US$) and Cash Flow of $74.7M. The current ratio is 19% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I get an historical median dividend yield of 2.57%. The current ratio is 4.48% based on dividends of $0.60 and a stock price of $13.40. The current ratio is 74% above the historical median ratio. This stock price testing suggests that the stock price is relatively cheap.

I get a 10 year median dividend yield of 2.92%. The current ratio is 4.48% based on dividends of $0.60 and a stock price of $13.40. The current ratio is 53% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

The 10-year median Price/Sales (Revenue) Ratio is 0.35. The current ratio is 0.32 based on Revenue estimate for 2024 of $1,339M ($926M US$), Revenue per Share of $41.68 and a stock price of $13.40. The current ratio is 8% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median.

Results of stock price testing is that the stock price is reasonable and maybe even be cheap. The dividend yield testing is showing that the stock price is cheap. The P/S Ratio testing is showing the stock price as reasonable. All the other testing is showing the stock as either cheap or reasonable.

When I look at analysts’ recommendations, I find Buy (1), Hold (2). The consensus would be a Hold. The 12 month stock price consensus is $15.14 ($11.22 US$) with a high of $17.92 ($13.28 US$) and low of $13.75 ($10.19 US$). The consensus stock price of $15.14 implies a total return of 17.44% with 4.48% from dividends and 12.96% from capital gains based on a stock price of $13.40.

Analyst on Stock Chase did not like this stock in 2020 and 2022. However, in 2023 analysts started to say this stock was a top pick for them. Stock Chase gives this stock 4 stars out of 5. Demetris Afxentiou on Motley Fool thought this was a good food stock to buy in December 2023. Ambrose O'Callaghan on Motley Fool thought this was a good food stock to buy in August 2023. This company is not well followed. The company put out a Press Release on their fourth quarterly results for 2023. The company put out a Press Release on their results for the second quarter of 2024.

Simply Wall Street via Yahoo Finance reviews this stock. Simply Wall Street gives this stock 3 and one half stars out of 5. Simply Wall Street has two warnings on this stock of unstable dividend track record; and has a high level of debt. SWS is right on both counts. There were dividend decreases in 2019 and 2020 before dividends were raised again starting in 2021. Their debt is rather high, but I think manageable.

High Liner Foods Inc is a Canadian company which is mainly engaged in the processing and marketing of prepared and packaged frozen seafood products. The company sells its products to institutions, health care facilities, and quick-service family and casual dining establishments. Its web site is here High Liner Foods.

The last stock I wrote about was about was Boralex Inc (TSX-BLX, OTC-BRLXF) ... learn more. The next stock I will write about will be SmartCentres REIT (TSX-SRU.UN, OTC-CWYUF) ... learn more on Wednesday, September 5, 2024 around 5 pm. Tomorrow on my other blog I will write about Dividend Stocks September 2024 learn more on Tuesday, September 3, 2024 around 5 pm.

This blog is meant for educational purposes only and is not to provide investment advice. I am not a licensed professional investment advisor. 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.