Sound bite for Twitter and StockTwits is: Expensive, no momentum. This stock has been going almost since the beginning of the year. All my stock testing does points to the stock being expensive. This is a great stock, but it may not be the time to buy. See my spreadsheet on Stella-Jones Inc.
I do not own this stock of Stella-Jones Inc. (TSX-SJ, OTC-STLJF). I started a spreadsheet on this stock in mid-2009 because of a favorable report I read on this stock. It was considered to be a dividend growth stock and I am always on the lookout for dividend growth stocks.
Dividend yield is low, Dividend Payout Ratio is low and dividend growth is good. The current dividend yield is 0.94% based on dividends of $0.40 and a stock price of $42.59. The Dividend Payout Ratio for EPS for 2015 is 15.7% and over the past 5 years payout is 23%. The DPR for CFPS is 8.8% and the 5 year value is 13.3%. (Note I used Cash Flow less Working Capital for my Cash Flow. See my blog for further information on Cash Flow.)
The dividend growth is at 27.5% and 29% per year over the past 5 and 10 years. If you bought this stock 5, 10 or 15 years ago at a median price, you would be earning 4.3%, 8.6% and 73.6% dividend yield on your original stock purchase price. If you bought the stock today and dividend growth is 15% per year, then in 5, 10 and 15 years’ time you could be earning 2.33%, 7.13% and 21.75% on current stock price of $52.28.
The 5 year low, median and high median Price/Earnings per Share Ratios are 13.62, 17.62 and 21.63. The corresponding 10 year values are 10.12, 13.14 and 17.56. The historical values are 7.96, 10.58 and 13.23. It would seem that some of the run up in this stock’s shares is due to increases in P/E Ratios. The current P/E Ratio is 17.60 based on a stock price of $42.59 and 2016 EPS estimate of $2.42. The P/E for 2017 is 16.57 based on a stock price of $42.59 and 2017 EPS estimate of $2.57. This stock price testing suggests that the stock price is relatively reasonable to expensive.
I get a Graham Price of $27.89. The 10 year low, median and high median Price/Graham Price Ratios are 0.81, 1.11 and 1.53. The current P/GP Ratio is $1.53 based on a stock price of $42.59. I get a Graham Price of $28.74 for 2017 and a P/GP Ratio of 1.48 based on a stock price of $42.59. This stock price testing suggests that the stock price is relatively expensive.
I get a 10 year Price/Book Value per Share Ratio of $2.19. The current P/B Ratio is 2.98 based on a stock price of $42.59 and BVPS of $14.28. The current P/B Ratio is some 35.9% higher than the 10 year median value. This stock price testing suggests that the stock price is relatively expensive.
The current dividend yield is 0.94%. This is based on dividends of $0.40 and a stock price of $42.59. The historical median dividend yield is 1.26%. The current dividend yield is some 25.5% lower. This stock price testing suggests that the stock price is relatively expensive.
When I look at analysts’ recommendations, I find Buy and Hold recommendations. Most of the recommendations are a Buy and the consensus recommendation is a buy. The 12 month stock price consensus is $52.94. This implies a total return of 25.24% with 0.94% from dividends and 24.30% from capital gains.
The site of Highland Digest shows some interesting values for this company. Stella-Jones Inc. has a Gross Margin score of 9. The Gross Margin metric uses a scale from 1 to 100 where a 1 would be seen as positive and a 100 would be viewed as negative. Kay Ng of Motley Fool asks the question “Can Sideways Stella-Jones Inc. Soar Again?” He seems to think so. A number of analysts on Stock Chase like this company.
I will have only one entry for this stock this year. However, I did a more complete report on this company in 2015 and you can see that report here and here.
The last stock I wrote about was about was First Capital Realty (TSX-FCR, OTC-FCRGF)... learn more . The next stock I will write about will be The Keg Royalties Income Fund (TSX-KEG.UN, OTC-KRIUF)... learn more on Monday, December 19, 2016 around 5 pm.
Stella-Jones Inc. is a leading North American producer and marketer of industrial pressure treated wood products, specializing in the production of railway ties and timbers as well as wood poles supplied to electrical utilities and telecommunications companies. The Company also provides treated consumer lumber products and customized services to lumber retailers and wholesalers for outdoor applications. Other products include marine and foundation pilings, construction timbers, highway guardrail posts and treated wood for bridges. It has sales in Canada and US. Its web site is here Stella-Jones Inc.
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 website for stocks followed and investment notes. 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 or StockTwits.
Friday, December 16, 2016
Thursday, December 15, 2016
Canadian National Railway
This time of the year is a very busy time. I got to review this stock for my investment club and in the nature of never letting any work go to waste, I am publishing this review today in place of a blog item on my Investment, Economics Mostly blog which I usually do every Thursday.
Sound bite for Twitter and StockTwits is: Price is reasonable to expensive. I worry a bit about the P/B Ratio being so high at 4.77. The problem is that the stock price is rising faster than the Book Value. See my spreadsheet on Canadian National Railway.
I own this stock of Canadian National Railway (TSX-CNR, NYSE-CNI). In 2005 I was look for good companies to buy at a reasonable price. This stock met by criteria. This is a dividend growth company with a good record of dividend increases. I brought some more in 2009.
I am doing a second review of this stock because of my investment club. My review is of an industrial stock, which this stock is classified as. My last report was in February 2016 and you can see that report here.
I have done well with this stock. My total return is 17.14% per year with 15.25% from capital gains and 1.89% from dividends. Dividends received to date have covered some 40% of my stock purchase. For the share I bought in 2005 I am earning a yield of 8.32% on my original purchase price. My shares are up 408%. I have had these shares for 11 years.
Dividends are low on this stock with the current dividend yield at 1.64% and the historical median at 1.47% and the 5 year median at 1.61%. The current dividend yield is based on dividends of $1.50 and a stock price of $91.64. The dividend growth is good at 18% and 17% growth per year over the past 5 and 10 years.
The Dividend Payout Ratio for EPS is good as it is below the 50% to 60% range which is the range below which you want for the payout for a non-utility stock. The DPR for 2015 was 28% and for the last 5 year is at 36%. The DPR for CPFS is 18% for 2015 and 24% for the last 5 years. The DPR for 2016 for EPS is expected to be around 33% and for CFPS is expected to be around 21.5%.
Some of the estimates for 2016, 2017 and 2018 have changed. Revenue and Earnings have gone down, but CFPS has gone up. Changes are not large. For example Revenue estimate for 2016 has declined by 6.5% (old estimate was $13,069M and new estimate is $12,218M). So instead of a Revenue increase of 3.6%, what we have is a revenue decline of 3.1%. The third quarter of 2016 shows Revenue declining from 2015 by 5%.
EPS estimate for 2016 has declined by 2.2% (old estimate $4.61 and new estimate $4.51). The EPS for the third quarter is up 3.2%.
The 5 year low, median and high median Price/Earnings per Share Ratios are 14.67, 17.28 and 19.90. The corresponding 10 year ratios are 12.00, 13.55 and 14.91. The corresponding historical ratios are 11.80, 13.62 and 14.99. So it would appear that the stock price has been going up partly due to a rise in P/E Ratio. When I look at this stock in February the current price was $76.24. Today the price is $91.64 which is an increase of 20.2%.
The current P/E Ratio is 20.32 based on a stock price of $91.64 and 2016 EPS estimate of $4.51. If you compare today's price with the EPS estimate for 2017 of $4.94, the P/E Ratio is 18.55. If your comparison is with the last 5 years, then the current P/E is a relatively high and the stock is relatively expensive.
I get a Graham Price of $44.14. The 10 year low, median and high Price/Graham Price Ratios are 1.15, 1.29 and 1.43. The current P/GP Ratio is 2.08 based on a stock price of $91.64. I get a Graham Price of $46.20 for 2017 and that P/GP Ratio is 1.98. This stock price testing suggests that the stock price is relatively expensive.
I get a 10 year median Price/Book Value per Share Ratio of 2.82. The current P/B Ratio is 4.77 a value some 69% higher. This P/B Ratio is based on BVPS of $19.20 and a stock price of $91.64. This stock price testing suggests that the stock price is relatively expensive.
The current dividend yield is 1.64% based on a stock price of $91.64 and dividends of $1.50. Dividends have gone up a lot lately with the dividend increase for 2015 being at 25% and the increase for 2016 at 20%. The historical dividend yield is 1.47% and this is some 11% lower than the current dividend yield. This suggests that the stock price is reasonable and below the median.
The last stock I wrote about was about was First Capital Realty (TSX-FCR, OTC-FCRGF)... learn more . The next stock I will write about will be Stella-Jones Inc. (TSX-SJ, OTC- STLJF)... learn more on Friday, December 16, 2016 around 5 pm.
When I look at analysts' recommendations, I find Strong Buy, Buy, Hold and Sell. Almost all are a Hold and the consensus recommendation would be a Hold. The 12 month stock price $84.85. This implies a total loss of 5.77% based on a stock price of $91.64 with a capital loss of 7.41% and dividends of 1.64%.
In a recent note Joey Frenette of Motley says how much he likes this stock and believes that it will do even better under a Trump presidency. Brent Sawyer on Sports Perspectives talks about recent purchases of this stock by funds. See what analysts are saying about this company on Stock Chase. Analysts mostly like this company.
Canadian National Railway Company and its operating railway subsidiaries, spans Canada and mid-America, from the Atlantic and Pacific oceans to the Gulf of Mexico, serving the ports of Vancouver, Prince Rupert, B.C., Montreal, Halifax, New Orleans, and Mobile, Ala., and the key metropolitan areas of Toronto, Buffalo, Chicago, Detroit, Duluth, Minn./Superior, Wis., Green Bay, Wis., Minneapolis/St. Paul, Memphis, St. Louis, and Jackson, Miss., with connections to all points in North America. Its web site is here Canadian National Railway.
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 website for stocks followed and investment notes. 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 or StockTwits.
Sound bite for Twitter and StockTwits is: Price is reasonable to expensive. I worry a bit about the P/B Ratio being so high at 4.77. The problem is that the stock price is rising faster than the Book Value. See my spreadsheet on Canadian National Railway.
I own this stock of Canadian National Railway (TSX-CNR, NYSE-CNI). In 2005 I was look for good companies to buy at a reasonable price. This stock met by criteria. This is a dividend growth company with a good record of dividend increases. I brought some more in 2009.
I am doing a second review of this stock because of my investment club. My review is of an industrial stock, which this stock is classified as. My last report was in February 2016 and you can see that report here.
I have done well with this stock. My total return is 17.14% per year with 15.25% from capital gains and 1.89% from dividends. Dividends received to date have covered some 40% of my stock purchase. For the share I bought in 2005 I am earning a yield of 8.32% on my original purchase price. My shares are up 408%. I have had these shares for 11 years.
Dividends are low on this stock with the current dividend yield at 1.64% and the historical median at 1.47% and the 5 year median at 1.61%. The current dividend yield is based on dividends of $1.50 and a stock price of $91.64. The dividend growth is good at 18% and 17% growth per year over the past 5 and 10 years.
The Dividend Payout Ratio for EPS is good as it is below the 50% to 60% range which is the range below which you want for the payout for a non-utility stock. The DPR for 2015 was 28% and for the last 5 year is at 36%. The DPR for CPFS is 18% for 2015 and 24% for the last 5 years. The DPR for 2016 for EPS is expected to be around 33% and for CFPS is expected to be around 21.5%.
Some of the estimates for 2016, 2017 and 2018 have changed. Revenue and Earnings have gone down, but CFPS has gone up. Changes are not large. For example Revenue estimate for 2016 has declined by 6.5% (old estimate was $13,069M and new estimate is $12,218M). So instead of a Revenue increase of 3.6%, what we have is a revenue decline of 3.1%. The third quarter of 2016 shows Revenue declining from 2015 by 5%.
EPS estimate for 2016 has declined by 2.2% (old estimate $4.61 and new estimate $4.51). The EPS for the third quarter is up 3.2%.
The 5 year low, median and high median Price/Earnings per Share Ratios are 14.67, 17.28 and 19.90. The corresponding 10 year ratios are 12.00, 13.55 and 14.91. The corresponding historical ratios are 11.80, 13.62 and 14.99. So it would appear that the stock price has been going up partly due to a rise in P/E Ratio. When I look at this stock in February the current price was $76.24. Today the price is $91.64 which is an increase of 20.2%.
The current P/E Ratio is 20.32 based on a stock price of $91.64 and 2016 EPS estimate of $4.51. If you compare today's price with the EPS estimate for 2017 of $4.94, the P/E Ratio is 18.55. If your comparison is with the last 5 years, then the current P/E is a relatively high and the stock is relatively expensive.
I get a Graham Price of $44.14. The 10 year low, median and high Price/Graham Price Ratios are 1.15, 1.29 and 1.43. The current P/GP Ratio is 2.08 based on a stock price of $91.64. I get a Graham Price of $46.20 for 2017 and that P/GP Ratio is 1.98. This stock price testing suggests that the stock price is relatively expensive.
I get a 10 year median Price/Book Value per Share Ratio of 2.82. The current P/B Ratio is 4.77 a value some 69% higher. This P/B Ratio is based on BVPS of $19.20 and a stock price of $91.64. This stock price testing suggests that the stock price is relatively expensive.
The current dividend yield is 1.64% based on a stock price of $91.64 and dividends of $1.50. Dividends have gone up a lot lately with the dividend increase for 2015 being at 25% and the increase for 2016 at 20%. The historical dividend yield is 1.47% and this is some 11% lower than the current dividend yield. This suggests that the stock price is reasonable and below the median.
The last stock I wrote about was about was First Capital Realty (TSX-FCR, OTC-FCRGF)... learn more . The next stock I will write about will be Stella-Jones Inc. (TSX-SJ, OTC- STLJF)... learn more on Friday, December 16, 2016 around 5 pm.
When I look at analysts' recommendations, I find Strong Buy, Buy, Hold and Sell. Almost all are a Hold and the consensus recommendation would be a Hold. The 12 month stock price $84.85. This implies a total loss of 5.77% based on a stock price of $91.64 with a capital loss of 7.41% and dividends of 1.64%.
In a recent note Joey Frenette of Motley says how much he likes this stock and believes that it will do even better under a Trump presidency. Brent Sawyer on Sports Perspectives talks about recent purchases of this stock by funds. See what analysts are saying about this company on Stock Chase. Analysts mostly like this company.
Canadian National Railway Company and its operating railway subsidiaries, spans Canada and mid-America, from the Atlantic and Pacific oceans to the Gulf of Mexico, serving the ports of Vancouver, Prince Rupert, B.C., Montreal, Halifax, New Orleans, and Mobile, Ala., and the key metropolitan areas of Toronto, Buffalo, Chicago, Detroit, Duluth, Minn./Superior, Wis., Green Bay, Wis., Minneapolis/St. Paul, Memphis, St. Louis, and Jackson, Miss., with connections to all points in North America. Its web site is here Canadian National Railway.
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 website for stocks followed and investment notes. 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 or StockTwits.
Wednesday, December 14, 2016
First Capital Realty
Sound bite for Twitter and StockTwits is: Possibly expensive. This stock is only showing as expensive with the dividend yield test. I like this test the best as it is using current data and no estimates. The other test that uses no estimate is the P/BV test and this is show the stock as relatively reasonable and below the median. See my spreadsheet on First Capital Realty.
I do not own this stock of First Capital Realty (TSX-FCR, OTC-FCRGF). My Own Advisor asked me to look into this stock. In 2011 a reader asked me to review this real estate stock. Also, the site Canadian Dividend Stock site mentions this company as a top Canadian REIT.
This stock has a good dividend and low growth in dividends. The current dividend yield of 4.25% and has a 5 year median dividend yield of 5.61%. The current dividend is based on dividends of $0.86 and stock price of $20.24.
The dividend growth is at 1.46% and 1.24% per year over the past 5 and 10 years. The 5 year growth is hitting the rate of inflation, but the 10 year growth is not. According to the Bank of Canada, total inflation over the past 5 year is 1.44% per year and over the past 10 years is at 1.67% per year. Ideally, you want Real Estate stock to have, at minimum a rate of growth equal to inflation.
This is a dividend growth stock, but it does not increase its dividend each year. The last dividend increase occurred in 2014 and it was for 2.4%. There were no dividend increases in 2015 and also none so far this year.
The Dividend Payout Ratio in regards to EPS is rather high. The DPR for EPS for 2015 was 94.5% but over the past 5 years, the DPR is at 55% which is fine. Since this is Real Estate, I looked at the DPR in regards to FFO and find it is 86.9% for 2015 and over the past 5 years at 86.7%. This is reasonable. In regards to CFPS, the DPR for 2015 is 43.4% and the over the past 5 years is at 43.6%.
Outstanding shares have increase by 6.7% and 7.2% per year over the past 5 and 10 years. Therefore if I was looking at growth, I would be looking at per share growth. It can make a difference. For example Revenue growth is at 6% and 9.4% per year over the past 5 and 10 years. However, Revenue per Share growth has fallen by 0.6% and grown at 2.1% per year over the past 5 and 10 years. Revenue growth is therefore non-existent to very low.
The Liquidity Ratios are a problem. The reason you look at Liquidity is because if it is low, this can cause problems especially in bad times. This company has a Liquidity Ratio of 0.38. If you add in cash flow after dividends it is just 0.50. If you add back in current portion of long term debt we get to 0.94. We cannot make even a ratio of 1.00. If the ratio is below 1.00 it means that current assets cannot cover current liabilities.
The 5 year low, median and high median Price/Earnings per Share Ratios are 16.38, 18.04 and 19.71. The corresponding 10 year values are 21.18, 30.27 and 33.53. The historical values are 18.73, 20.21 and 22.63. The current P/E Ratio is 18.23 based on EPS estimate for 2016 of $1.11 and a stock price of $20.24. If we use the use the EPS estimate for 2017 of $1.16 we get a P/E Ratio of 17.45. This stock price testing suggests that the stock price is reasonable and just below the median.
The 5 year low, median and high median P/FFO Ratios are 17.26, 18.49 and 19.58. The corresponding 10 year values are 15.30, 16.73 and 18.16. The current P/FFO Ratio is 18.07 based on a stock price of $20.24 and 2016 FFO estimate of 1.12. If we use the 2017 FFO estimates the P/FFO becomes 17.30. This testing suggests that the stock price is relatively reasonable.
The 5 year low, median and high median P/AFFO Ratios are 17.02, 18.13 and 19.66. The corresponding 10 year values are 16.75, 18.12 and 19.44. The current P/FFO Ratio is 20.24 based on a stock price of $20.24 and 2016 AFFO estimate of 1.00. If we use the 2017 AFFO estimate of $1.06 the P/AFFO becomes 19.09. This testing suggests that the stock price is relatively reasonable but above the median.
I get a Graham Price of $20.79. The current P/Graham Price Ratio is 0.97 based on a stock price of $20.24. The 10 year low, median and high median P/GP Ratios are 0.91, 0.98 and 1.07. The stock price testing suggests that the stock price is relatively reasonable and around the median.
I get a 10 year median Price/Book Value per Share Ratio 1.38. The current P/B Ratio is 1.18 a value some 14.8% lower. The current P/B Ratio is based on BVPS of $17.16 and a stock price of $20.24. The stock price testing suggests that the stock price is relatively reasonable and below the median.
I get a current dividend yield of 4.25%. The current dividend yield is based on a stock price of $20.24 and dividends of $0.86. The historical median dividend yield at 5.61% is some 24.3% higher. This stock price testing suggests that the stock price is relatively expensive.
When I look at analysts' recommendations, I find Strong Buy, Buy and Hold. Most of the recommendations are a Buy and the consensus recommendation is a Buy. The 12 month target stock price is $23.81. This implies a total return of 21.89% with4.25% from dividends and 17.64% from capital gains based on a stock price of $20.24.
Richard Conner on Money Making Articles says that there is 5 Buy and 1 Hold recommendations on this stock. TD Securities rate it a Buy and has a target of $25.00. An article on Highland Digest say that First Capital Realty Inc. has a Gross Margin score of 25where a 1 would be regarded as good, and a 100 would be seen as bad. Joseph Solitro of Motley Fool liked this stock in August 2016. See what analysts are saying on Stock Chase. A couple of analysts think it is a high quality REIT.
I will have only one entry for this stock this year. However, I did a more complete report on this company in 2015 and you can see those reports here and here.
The last stock I wrote about was about was DHX Media Ltd. (TSX-DHX.B, OTC- DHXMF)... learn more . The next stock I will write about will be Stella-Jones Inc. (TSX-SJ, OTC- STLJF)... learn more on Friday, December 16, 2016 around 5 pm. Tomorrow I will write about Canadian National Railway (TSX-CNR, NYSE-CNI)... learn more on Thursday, December 15, 2016 around 5 pm. I did a second review on this stock for my Investment Club.
First Capital Realty is Canada's leading owner, developer and operator of supermarket and drugstore anchored neighbourhood and community shopping centers located predominantly in growing metropolitan areas. Its web site is here First Capital Realty.
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 website for stocks followed and investment notes. 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 or StockTwits.
I do not own this stock of First Capital Realty (TSX-FCR, OTC-FCRGF). My Own Advisor asked me to look into this stock. In 2011 a reader asked me to review this real estate stock. Also, the site Canadian Dividend Stock site mentions this company as a top Canadian REIT.
This stock has a good dividend and low growth in dividends. The current dividend yield of 4.25% and has a 5 year median dividend yield of 5.61%. The current dividend is based on dividends of $0.86 and stock price of $20.24.
The dividend growth is at 1.46% and 1.24% per year over the past 5 and 10 years. The 5 year growth is hitting the rate of inflation, but the 10 year growth is not. According to the Bank of Canada, total inflation over the past 5 year is 1.44% per year and over the past 10 years is at 1.67% per year. Ideally, you want Real Estate stock to have, at minimum a rate of growth equal to inflation.
This is a dividend growth stock, but it does not increase its dividend each year. The last dividend increase occurred in 2014 and it was for 2.4%. There were no dividend increases in 2015 and also none so far this year.
The Dividend Payout Ratio in regards to EPS is rather high. The DPR for EPS for 2015 was 94.5% but over the past 5 years, the DPR is at 55% which is fine. Since this is Real Estate, I looked at the DPR in regards to FFO and find it is 86.9% for 2015 and over the past 5 years at 86.7%. This is reasonable. In regards to CFPS, the DPR for 2015 is 43.4% and the over the past 5 years is at 43.6%.
Outstanding shares have increase by 6.7% and 7.2% per year over the past 5 and 10 years. Therefore if I was looking at growth, I would be looking at per share growth. It can make a difference. For example Revenue growth is at 6% and 9.4% per year over the past 5 and 10 years. However, Revenue per Share growth has fallen by 0.6% and grown at 2.1% per year over the past 5 and 10 years. Revenue growth is therefore non-existent to very low.
The Liquidity Ratios are a problem. The reason you look at Liquidity is because if it is low, this can cause problems especially in bad times. This company has a Liquidity Ratio of 0.38. If you add in cash flow after dividends it is just 0.50. If you add back in current portion of long term debt we get to 0.94. We cannot make even a ratio of 1.00. If the ratio is below 1.00 it means that current assets cannot cover current liabilities.
The 5 year low, median and high median Price/Earnings per Share Ratios are 16.38, 18.04 and 19.71. The corresponding 10 year values are 21.18, 30.27 and 33.53. The historical values are 18.73, 20.21 and 22.63. The current P/E Ratio is 18.23 based on EPS estimate for 2016 of $1.11 and a stock price of $20.24. If we use the use the EPS estimate for 2017 of $1.16 we get a P/E Ratio of 17.45. This stock price testing suggests that the stock price is reasonable and just below the median.
The 5 year low, median and high median P/FFO Ratios are 17.26, 18.49 and 19.58. The corresponding 10 year values are 15.30, 16.73 and 18.16. The current P/FFO Ratio is 18.07 based on a stock price of $20.24 and 2016 FFO estimate of 1.12. If we use the 2017 FFO estimates the P/FFO becomes 17.30. This testing suggests that the stock price is relatively reasonable.
The 5 year low, median and high median P/AFFO Ratios are 17.02, 18.13 and 19.66. The corresponding 10 year values are 16.75, 18.12 and 19.44. The current P/FFO Ratio is 20.24 based on a stock price of $20.24 and 2016 AFFO estimate of 1.00. If we use the 2017 AFFO estimate of $1.06 the P/AFFO becomes 19.09. This testing suggests that the stock price is relatively reasonable but above the median.
I get a Graham Price of $20.79. The current P/Graham Price Ratio is 0.97 based on a stock price of $20.24. The 10 year low, median and high median P/GP Ratios are 0.91, 0.98 and 1.07. The stock price testing suggests that the stock price is relatively reasonable and around the median.
I get a 10 year median Price/Book Value per Share Ratio 1.38. The current P/B Ratio is 1.18 a value some 14.8% lower. The current P/B Ratio is based on BVPS of $17.16 and a stock price of $20.24. The stock price testing suggests that the stock price is relatively reasonable and below the median.
I get a current dividend yield of 4.25%. The current dividend yield is based on a stock price of $20.24 and dividends of $0.86. The historical median dividend yield at 5.61% is some 24.3% higher. This stock price testing suggests that the stock price is relatively expensive.
When I look at analysts' recommendations, I find Strong Buy, Buy and Hold. Most of the recommendations are a Buy and the consensus recommendation is a Buy. The 12 month target stock price is $23.81. This implies a total return of 21.89% with4.25% from dividends and 17.64% from capital gains based on a stock price of $20.24.
Richard Conner on Money Making Articles says that there is 5 Buy and 1 Hold recommendations on this stock. TD Securities rate it a Buy and has a target of $25.00. An article on Highland Digest say that First Capital Realty Inc. has a Gross Margin score of 25where a 1 would be regarded as good, and a 100 would be seen as bad. Joseph Solitro of Motley Fool liked this stock in August 2016. See what analysts are saying on Stock Chase. A couple of analysts think it is a high quality REIT.
I will have only one entry for this stock this year. However, I did a more complete report on this company in 2015 and you can see those reports here and here.
The last stock I wrote about was about was DHX Media Ltd. (TSX-DHX.B, OTC- DHXMF)... learn more . The next stock I will write about will be Stella-Jones Inc. (TSX-SJ, OTC- STLJF)... learn more on Friday, December 16, 2016 around 5 pm. Tomorrow I will write about Canadian National Railway (TSX-CNR, NYSE-CNI)... learn more on Thursday, December 15, 2016 around 5 pm. I did a second review on this stock for my Investment Club.
First Capital Realty is Canada's leading owner, developer and operator of supermarket and drugstore anchored neighbourhood and community shopping centers located predominantly in growing metropolitan areas. Its web site is here First Capital Realty.
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 website for stocks followed and investment notes. 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 or StockTwits.
Monday, December 12, 2016
DHX Media Ltd
Sound bite for Twitter and StockTwits is: On some measures cheap. In the past investors seemed to be paying a high price for this stock. However, it has lost its momentum since 2014. This may not pick up again until the stock is actually cheap. I would wait for the next upward momentum to start before buying. See my spreadsheet on DHX Media Ltd.
I do not own this stock of DHX Media Ltd (TSX-DHX.B, OTC-DHXMF). I started to follow this stock after reading about it in CanTech Letter. Investors should accumulate DHX Media "aggressively", says Byron Capital was the title of the piece. I was interested as this stock was paying a dividend. Please note that the US DHXMF symbol is the CDN equivalent of DHX.A not DHX.B.
The dividends on this stock are very low. They occasionally rise to at least 1%. I would not buy a stock paying a dividend of less than 1% as it would take too long to get a decent yield on my original purchase of the stock. The current dividend is 1.08% based on a stock price of $6.67 and dividends of $0.072. The 4 year median dividend is 0.89%. Dividends were just started in 2013. Dividend growth so has been good at 15.7% per year.
This company was listed in 2006 at the TSX. This company was formed in 2006 by the merger of Decode Entertainment and Halifax Film Company. Outstanding shares have increased by 16.8% and 15.2% per year over the past 5 and 10 years. If you want to see what growth this company has it is best to look at per share growth. This can make a difference.
For example, Revenue has grown by 41% and 34.3% per year over the past 5 and 10 years, but Revenue per Share has grown by 20.8% and 16.6% per year over the past 5 and 10 years. Because they had a number of earning loss years, I cannot get a growth for EPS for the past 10 years. However, EPS has grown at 48.96% per year over the past 5 years.
The stock price hit a high in 2014. For the past two years the stock price has declined. It declined by 12.8% in 2015 and by 21.3% so far in 2016. Still the total return to date over the past 5 and 10 years is at 102.76% and 25.02% per year over the past 5 and 10 years. The portion of this total return attributable to dividends is at 2.27% and 0.29% per year over the past 5 and 10 years. The portion of this total return attributable to capital gains is at 100.50% and 24.74% per year over the past 5 and 10 years.
The 5 year low, median and high median Price/Earnings per Share Ratios are 37.71, 52.28 and 62.56. The corresponding 10 year values are 33.04, 35.27 and 53.61. These are very high ratios. The current P/E Ratio is 18.53 based on a stock price of $6.67 and a 2017 EPS estimate of 0.36. (Note that the financial year for this stock ends June 30 each year.) This stock price testing suggests that the stock is relatively cheap. On an absolute basis a P/E Ratio of 18.36 is not cheap, but might be considered to be reasonable.
I get a Graham Price of $4.53. The Price/Graham Price Ratios are 1.28, 2.08 and 2.74. These are quite high ratios. The current P/GP Ratio is 1.47 based on a stock price of $6.67. This testing suggests that the stock price is relatively reasonable and below the median.
I get a 10 year Price/Book Value per Share Ratio of 1.19. This is a rather low value. The current P/B Ratio is 2.63 a value some 121% higher. The current P/B Ratio is based on BVPS of $2.53 and a stock price of $6.67. However, this ratio has been higher lately and the 5 year median value is higher at 2.53. This stock price testing suggests that the stock price is relatively expensive.
There is too little data to do a good stock price test using dividend yield. However, the 4 year median dividend yield is just 0.89% and this is some 21% lower than the current dividend yield of 1.08%. The current dividend yield is based on dividends of $0.072 and a stock price of $6.76. Note that the dividend yield high on this stock is 2.06% a value some 48% higher. If you look at the median dividend yield, stock price testing suggests that the stock price is relatively cheap.
When I look at analysts' recommendations, I find Strong Buy, Buy, Hold and Underperform recommendations. Most of the recommendations are a Hold, but the consensus recommendation is a Buy. The 12 month stock price is $10.21. This implies a total return of 54.15% with 53.07% from capital gains and 1.08% from dividends.
According to Highland Digest this company has a Value Composite Score of 68. This would suggest that the stock is not cheap. According to Daily Quint TD recently reissued their buy recommendation on this stock with a stock price of $9.00. See what analysts are saying on Stock Chase.
I will have only one entry for this stock this year. However, I did a more complete report on this company in 2015 and you can see that report here.
The last stock I wrote about was about was Northland Power Inc. (TSX-NPI, OTC-NPIFF)... learn more . The next stock I will write about will be First Capital Realty (TSX-FCR, OTC-FCRGF)... learn more on Wednesday, December 14, 2016 around 5 pm. Tomorrow on my other blog I will write about Walking and Winning Tours... ... learn more on Tuesday, December 13, 2016 around 5 pm.
DHX Media is a leader in the creation, production and marketing of family entertainment. DHX Media owns, markets and distributes over 10,000 episodes of entertainment programming worldwide and licenses its owned properties through its dedicated consumer products business. Its web site is here DHX Media Ltd.
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 website for stocks followed and investment notes. 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 or StockTwits.
I do not own this stock of DHX Media Ltd (TSX-DHX.B, OTC-DHXMF). I started to follow this stock after reading about it in CanTech Letter. Investors should accumulate DHX Media "aggressively", says Byron Capital was the title of the piece. I was interested as this stock was paying a dividend. Please note that the US DHXMF symbol is the CDN equivalent of DHX.A not DHX.B.
The dividends on this stock are very low. They occasionally rise to at least 1%. I would not buy a stock paying a dividend of less than 1% as it would take too long to get a decent yield on my original purchase of the stock. The current dividend is 1.08% based on a stock price of $6.67 and dividends of $0.072. The 4 year median dividend is 0.89%. Dividends were just started in 2013. Dividend growth so has been good at 15.7% per year.
This company was listed in 2006 at the TSX. This company was formed in 2006 by the merger of Decode Entertainment and Halifax Film Company. Outstanding shares have increased by 16.8% and 15.2% per year over the past 5 and 10 years. If you want to see what growth this company has it is best to look at per share growth. This can make a difference.
For example, Revenue has grown by 41% and 34.3% per year over the past 5 and 10 years, but Revenue per Share has grown by 20.8% and 16.6% per year over the past 5 and 10 years. Because they had a number of earning loss years, I cannot get a growth for EPS for the past 10 years. However, EPS has grown at 48.96% per year over the past 5 years.
The stock price hit a high in 2014. For the past two years the stock price has declined. It declined by 12.8% in 2015 and by 21.3% so far in 2016. Still the total return to date over the past 5 and 10 years is at 102.76% and 25.02% per year over the past 5 and 10 years. The portion of this total return attributable to dividends is at 2.27% and 0.29% per year over the past 5 and 10 years. The portion of this total return attributable to capital gains is at 100.50% and 24.74% per year over the past 5 and 10 years.
The 5 year low, median and high median Price/Earnings per Share Ratios are 37.71, 52.28 and 62.56. The corresponding 10 year values are 33.04, 35.27 and 53.61. These are very high ratios. The current P/E Ratio is 18.53 based on a stock price of $6.67 and a 2017 EPS estimate of 0.36. (Note that the financial year for this stock ends June 30 each year.) This stock price testing suggests that the stock is relatively cheap. On an absolute basis a P/E Ratio of 18.36 is not cheap, but might be considered to be reasonable.
I get a Graham Price of $4.53. The Price/Graham Price Ratios are 1.28, 2.08 and 2.74. These are quite high ratios. The current P/GP Ratio is 1.47 based on a stock price of $6.67. This testing suggests that the stock price is relatively reasonable and below the median.
I get a 10 year Price/Book Value per Share Ratio of 1.19. This is a rather low value. The current P/B Ratio is 2.63 a value some 121% higher. The current P/B Ratio is based on BVPS of $2.53 and a stock price of $6.67. However, this ratio has been higher lately and the 5 year median value is higher at 2.53. This stock price testing suggests that the stock price is relatively expensive.
There is too little data to do a good stock price test using dividend yield. However, the 4 year median dividend yield is just 0.89% and this is some 21% lower than the current dividend yield of 1.08%. The current dividend yield is based on dividends of $0.072 and a stock price of $6.76. Note that the dividend yield high on this stock is 2.06% a value some 48% higher. If you look at the median dividend yield, stock price testing suggests that the stock price is relatively cheap.
When I look at analysts' recommendations, I find Strong Buy, Buy, Hold and Underperform recommendations. Most of the recommendations are a Hold, but the consensus recommendation is a Buy. The 12 month stock price is $10.21. This implies a total return of 54.15% with 53.07% from capital gains and 1.08% from dividends.
According to Highland Digest this company has a Value Composite Score of 68. This would suggest that the stock is not cheap. According to Daily Quint TD recently reissued their buy recommendation on this stock with a stock price of $9.00. See what analysts are saying on Stock Chase.
I will have only one entry for this stock this year. However, I did a more complete report on this company in 2015 and you can see that report here.
The last stock I wrote about was about was Northland Power Inc. (TSX-NPI, OTC-NPIFF)... learn more . The next stock I will write about will be First Capital Realty (TSX-FCR, OTC-FCRGF)... learn more on Wednesday, December 14, 2016 around 5 pm. Tomorrow on my other blog I will write about Walking and Winning Tours... ... learn more on Tuesday, December 13, 2016 around 5 pm.
DHX Media is a leader in the creation, production and marketing of family entertainment. DHX Media owns, markets and distributes over 10,000 episodes of entertainment programming worldwide and licenses its owned properties through its dedicated consumer products business. Its web site is here DHX Media Ltd.
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 website for stocks followed and investment notes. 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 or StockTwits.
Friday, December 9, 2016
Northland Power Inc.
Bye the way, I just bought some stock for this year and it was Calian Group Ltd. (TSX-CGY, OTC-CLNFF). My son just bought some Canadian Utilities Ltd (TSX-CU, OTC-CDUAF).
Sound bite for Twitter and StockTwits is: Relatively expensive. It could be expensive because of possible takeover. However, everyone seems to be ignoring the company's high debt. It seems that the bid price for this stock is already built into the current price, so most people will not make money on it hoping that someone does buy the company. See my spreadsheet on Northland Power Inc.
I do not own this stock of Northland Power Inc. (TSX-NPI, OTC-NPIFF). This company is into generating electric power. I have a lot invested in pipelines and I would like to have more invested in electric power as my utilities investment. I read a report on this stock that said it was a good defensive stock to buy. That is, it is a good stock to hold in a stock market correction. I can certainly see the logic of using utility stocks as defensive stocks.
I do not care what anyone says. Debt does count. This stock's Long Term Debt/Market Cap Ratio is 1.60. It is a huge warning sign when this ratio approaches 1.00. This stock is long past that. They also cannot make a profit. EPS has been negative for the last two years and still negative for the third quarter. Analysts expect a profit for 2016, but for the 12 months ending at the third quarter there is an earning loss of $0.28. I do not see where a profit will come from this year. This is another big warning sign. Comprehensive Income is also negative for the 12 months to the end of the third quarter.
There are some bright spots. They have good and growing cash flow. The other thing is the market seems hopeful. The total return is up by 10.03% and 8.91% per year over the past 5 and 10 years. The downside of this is that it is mostly in dividends. The portion of this above total return attributable to dividends is 6.64% and 6.46% per year over the past 5 and 10 years. The portion of this above total return attributable to capital gain is 3.57% and 2.27% per year over the past 5 and 10 years.
Operational Profit Margin (CF/Revenue) Ratio is good at 54% in 2015. This is a growing ratio also and this is good. However, they do not seem to be able to translate cash flow and OPM into profit.
This company used to be an income trust. A lot of these companies are having a hard time transitioning to a corporation. Part of this is the high dividends paid by income trusts. This company paid good dividends and only marginally reduced the dividends when changing to an income trust.
They were at one time looking like a dividend growth company, but not currently. Dividends have been flat since 2009. Dividend growth is at 0 and 0.3% over the past 5 and 10 years. They also cannot afford their dividends. Over the past 5 years they have an average earnings loss per year of $0.13 yet they are still paying dividends. (Total loss over the past 5 years is $0.65.) The company would have been better off if they had cut or suspended the dividends and get their debt under control.
The 5 year low, median and high median Price/Earnings per Share Ratios are negative as it's the corresponding 10 year ratios. The historical ratios are 12.94, 15.31 and 17.86. The current P/E Ratio is 56.51 based on a stock price of $23.17 and 2016 EPS estimate of 0.41. The P/E Ratio for 2017 is 37.98 based on a stock price of $23.17 and 2017 EPS estimate of $0.61. This testing suggests that the stock is relatively expensive.
I get a Graham Price of $5.55. The 10 year low, median and high median Price/Graham Price Ratios are 3.01, 3.46 and 3.91. These ratios are extremely high for a utility stock. The current P/GP Ratio is 4.18 based on a stock price of $23.17. This testing suggests that the stock is relatively expensive.
I get a Price/Book Value per Share Ratio of 2.58. The current P/B Ratio is 6.94 based on BVPS of $3.34 and a stock price of $23.17. The current P/B Ratio is some 168% above the 10 year ratio. This testing suggests that the stock is relatively expensive.
I cannot do Dividend Yield testing on this stock as it used to be an Income Trust company and these sorts of companies had very high yields. It was expected that old income trusts would end up with dividend yields between 4 and 5% when they became corporations. This would be accomplished by decline in dividends and/or increases in stock price. This is where this stock ended up due to stock price increases.
Another price check would be for Revenue using P/S Ratio. The 10 year P/S Ratio is 4.24. The current P/S Ratio is 3.96 a value some 6.8% lower. This stock price testing suggests that the stock price is relatively reasonable and below the median. However, a P/S Ratio of 4.24 and 3.96 are both rather high for a Utility Stock.
When I look at analysts' recommendations I see Strong Buy, Buy, Hold and Underperform recommendations. Most are Buy recommendations and the consensus is a Buy recommendation. The 12 month consensus stock price is $24.94. This implies a total return of 12.30% with 7.64% from capital gains and 4.66% from dividends based on a current stock price of $23.17.
There is some technical analysts at Wall Street Confidential. The Williams Percent Range shows that the stock is neither overbought nor oversold. It looks like companies are bidding to buy this company. See what analysts are saying about this company on Stock Chase.
I will have only one entry for this stock this year. However, I did a more complete report on this company in 2015 and you can see that report here.
The last stock I wrote about was about was Chesswood Group Ltd. (TSX-CHW, OTC-CHWWF)... learn more . The next stock I will write about will be DHX Media Ltd. (TSX-DHX.B, OTC- DHXMF)... learn more on Monday, December 12 around 5 pm.
Northland Power Inc. indirectly owns interests in power projects. Northland's assets comprise facilities that produce electricity from "clean" natural gas and "green" renewable sources such as wind and biomass. Electricity generation is sold under long-term PPAs with creditworthy customers, and any fuel for natural-gas-fired projects, where required, is purchased under long-term contracts to assure stability of operating margins. This company operates in Canada, US and Germany. Its web site is here Northland Power Inc.
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 website for stocks followed and investment notes. 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 or StockTwits.
Sound bite for Twitter and StockTwits is: Relatively expensive. It could be expensive because of possible takeover. However, everyone seems to be ignoring the company's high debt. It seems that the bid price for this stock is already built into the current price, so most people will not make money on it hoping that someone does buy the company. See my spreadsheet on Northland Power Inc.
I do not own this stock of Northland Power Inc. (TSX-NPI, OTC-NPIFF). This company is into generating electric power. I have a lot invested in pipelines and I would like to have more invested in electric power as my utilities investment. I read a report on this stock that said it was a good defensive stock to buy. That is, it is a good stock to hold in a stock market correction. I can certainly see the logic of using utility stocks as defensive stocks.
I do not care what anyone says. Debt does count. This stock's Long Term Debt/Market Cap Ratio is 1.60. It is a huge warning sign when this ratio approaches 1.00. This stock is long past that. They also cannot make a profit. EPS has been negative for the last two years and still negative for the third quarter. Analysts expect a profit for 2016, but for the 12 months ending at the third quarter there is an earning loss of $0.28. I do not see where a profit will come from this year. This is another big warning sign. Comprehensive Income is also negative for the 12 months to the end of the third quarter.
There are some bright spots. They have good and growing cash flow. The other thing is the market seems hopeful. The total return is up by 10.03% and 8.91% per year over the past 5 and 10 years. The downside of this is that it is mostly in dividends. The portion of this above total return attributable to dividends is 6.64% and 6.46% per year over the past 5 and 10 years. The portion of this above total return attributable to capital gain is 3.57% and 2.27% per year over the past 5 and 10 years.
Operational Profit Margin (CF/Revenue) Ratio is good at 54% in 2015. This is a growing ratio also and this is good. However, they do not seem to be able to translate cash flow and OPM into profit.
This company used to be an income trust. A lot of these companies are having a hard time transitioning to a corporation. Part of this is the high dividends paid by income trusts. This company paid good dividends and only marginally reduced the dividends when changing to an income trust.
They were at one time looking like a dividend growth company, but not currently. Dividends have been flat since 2009. Dividend growth is at 0 and 0.3% over the past 5 and 10 years. They also cannot afford their dividends. Over the past 5 years they have an average earnings loss per year of $0.13 yet they are still paying dividends. (Total loss over the past 5 years is $0.65.) The company would have been better off if they had cut or suspended the dividends and get their debt under control.
The 5 year low, median and high median Price/Earnings per Share Ratios are negative as it's the corresponding 10 year ratios. The historical ratios are 12.94, 15.31 and 17.86. The current P/E Ratio is 56.51 based on a stock price of $23.17 and 2016 EPS estimate of 0.41. The P/E Ratio for 2017 is 37.98 based on a stock price of $23.17 and 2017 EPS estimate of $0.61. This testing suggests that the stock is relatively expensive.
I get a Graham Price of $5.55. The 10 year low, median and high median Price/Graham Price Ratios are 3.01, 3.46 and 3.91. These ratios are extremely high for a utility stock. The current P/GP Ratio is 4.18 based on a stock price of $23.17. This testing suggests that the stock is relatively expensive.
I get a Price/Book Value per Share Ratio of 2.58. The current P/B Ratio is 6.94 based on BVPS of $3.34 and a stock price of $23.17. The current P/B Ratio is some 168% above the 10 year ratio. This testing suggests that the stock is relatively expensive.
I cannot do Dividend Yield testing on this stock as it used to be an Income Trust company and these sorts of companies had very high yields. It was expected that old income trusts would end up with dividend yields between 4 and 5% when they became corporations. This would be accomplished by decline in dividends and/or increases in stock price. This is where this stock ended up due to stock price increases.
Another price check would be for Revenue using P/S Ratio. The 10 year P/S Ratio is 4.24. The current P/S Ratio is 3.96 a value some 6.8% lower. This stock price testing suggests that the stock price is relatively reasonable and below the median. However, a P/S Ratio of 4.24 and 3.96 are both rather high for a Utility Stock.
When I look at analysts' recommendations I see Strong Buy, Buy, Hold and Underperform recommendations. Most are Buy recommendations and the consensus is a Buy recommendation. The 12 month consensus stock price is $24.94. This implies a total return of 12.30% with 7.64% from capital gains and 4.66% from dividends based on a current stock price of $23.17.
There is some technical analysts at Wall Street Confidential. The Williams Percent Range shows that the stock is neither overbought nor oversold. It looks like companies are bidding to buy this company. See what analysts are saying about this company on Stock Chase.
I will have only one entry for this stock this year. However, I did a more complete report on this company in 2015 and you can see that report here.
The last stock I wrote about was about was Chesswood Group Ltd. (TSX-CHW, OTC-CHWWF)... learn more . The next stock I will write about will be DHX Media Ltd. (TSX-DHX.B, OTC- DHXMF)... learn more on Monday, December 12 around 5 pm.
Northland Power Inc. indirectly owns interests in power projects. Northland's assets comprise facilities that produce electricity from "clean" natural gas and "green" renewable sources such as wind and biomass. Electricity generation is sold under long-term PPAs with creditworthy customers, and any fuel for natural-gas-fired projects, where required, is purchased under long-term contracts to assure stability of operating margins. This company operates in Canada, US and Germany. Its web site is here Northland Power Inc.
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 website for stocks followed and investment notes. 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 or StockTwits.
Wednesday, December 7, 2016
Chesswood Group Ltd
Sound bite for Twitter and StockTwits is: Maybe cheap, but is risky. It has a very high dividend yield. I would think the dividend is current safe. It is a different kind of financial service firm so there could be money to be made here. However, it also could be quite risky. See my spreadsheet on Chesswood Group Ltd.
I do not own this stock of Chesswood Group Ltd. (TSX-CHW, OTC-CHWWF). A reader wrote me in 2012 that he was researching and found a company that he hoped I could give him a brief outlook on. He said that the company is Chesswood Group and they are basically a financial leasing company. From 2009 to 2012 they increased their dividends from 2.5 cents to 5.5 cents per month. This is a 120% increase.
Sometimes people miss what may really be happening. For example, this company decreased the dividends by 70% between 2008 and 2009. Since 2010 dividends have increased each year except for 2015. They increased the dividends for the very end of 2016. Dividend growth is at 11.6% per year for the past 5 years, but dividends have declined by 0.8% per year over the past 9 years. So dividend history is rather mixed.
The Dividend Yield is good (very good) currently at 7.27% based on dividends of $0.84 and a stock price of $11.55. This stock has an historical high dividend yield of over 54% and a historical median dividend yield of 8.5%. The current dividend yield is 7.27%. This suggests that the market thinks the stock is risky or will cut it dividends.
It would seem to me that the company can afford its dividends even though the payout ratios are currently a bit high. The Payout Ratio is high with the Dividend Payout Ratio for EPS at 5 year median of 82%. The DPR for 2015 is low at 67%. It is expected that the DPR for 2016 will be over 100%, but then reducing to 62% in 2017. The DPR for CFPS is lower with the rate for 2015 at 28%. Over the past 5 years the DPR for CFPS is a bit high at 47%.
They have been able to grow their revenue, but this depends on you look at Revenue. As a Financial Services firm which it is now considered they are growing their Revenue at some 250% over the past 9 years. They are also currently growing earnings and cash flow.
Their shares have grown at 12% and 131% per year over the past 5 and 9 years. If you want to look at growth you have to look at per share growth. If you take a look at Revenue, Revenue per Share has grown at 51.8% over the past 9 years compared to Revenue growth of 250% over the same time period.
The 5 year low, median and high median Price/Earnings per Share Ratios are 10.06, 12.76 and 11.96. The corresponding 10 year ratios are 7.74, 9.70 and 11.96. Do not forget this company used to be considered a Consumer Discretionary stock. The current P/E Ratio is 9.79 based on 2016 EPS estimate of $1.18 and a stock price of $11.55. This testing probably suggests that the stock price is relatively cheap.
I get a Graham Price of $15.30. The 10 year low, median and high median Price/Graham Price Ratios are 0.59, 0.77 and 0.92. The current P/GP Ratio is 0.76 based on a stock price of $11.55. This testing suggests that the stock price is relatively reasonable and below the median. For P/GP Ratio, a stock is considered cheap if the ratio is at or below 1.00.
I get a 10 year median Price/Book Value per Share Ratio of 1.16. The current P/B Ratio is 1.31 a value some 13% higher. The current P/B Ratio is based on BVPS of $13.19 and a stock price of $11.55. These P/B Ratios are rather low as a good ratio is considered to be around 1.50. This stock price testing suggests that the stock price is relatively reasonable but above the median.
The company has very high dividend yields. You have to wonder if doing dividend yield testing on a stock with an historical high of over 54% is valid. However, the historical median is 8.55%. The current dividend yield is some 15% below this. This stock price testing suggests that the stock price is relatively reasonable but above the median.
When I look at analyst's recommendations, I find Strong Buy, Buy and Hold recommendations of 4 analysts. The consensus recommendation is a Buy recommendation. The 12 month stock price consensus is $14.25. This implies a total return of 30.65% with 23.38% from capital gains and 7.27% from dividends. This total return assumes a current stock price of $11.55.
There is some analysis of this stock on Highland Digest. There is more interesting analysis of this stock on Stock Newsweek. There are some analysts' comments at Stock Chase.
I will have only one entry for this stock this year. However, I did a more complete report on this company in 2015 and you can see that report here.
The last stock I wrote about was about was WiLan Inc. (TSX-WIN, OTC-WILN)... learn more . The next stock I will write about will be Northland Power Inc. (TSX-NPI, OTC-NPIFF)... learn more on December 9, 2016 around 5 pm. Tomorrow on my other blog I will write about Something to Buy December 2016... learn more on Tuesday, December 8, 2016 around 5 pm.
Chesswood Group Limited is a financial services company operating primarily in the specialty finance industry. Chesswood's approach is to acquire financial services businesses. Its web site is here Chesswood Group Ltd.
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 website for stocks followed and investment notes. 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 or StockTwits.
I do not own this stock of Chesswood Group Ltd. (TSX-CHW, OTC-CHWWF). A reader wrote me in 2012 that he was researching and found a company that he hoped I could give him a brief outlook on. He said that the company is Chesswood Group and they are basically a financial leasing company. From 2009 to 2012 they increased their dividends from 2.5 cents to 5.5 cents per month. This is a 120% increase.
Sometimes people miss what may really be happening. For example, this company decreased the dividends by 70% between 2008 and 2009. Since 2010 dividends have increased each year except for 2015. They increased the dividends for the very end of 2016. Dividend growth is at 11.6% per year for the past 5 years, but dividends have declined by 0.8% per year over the past 9 years. So dividend history is rather mixed.
The Dividend Yield is good (very good) currently at 7.27% based on dividends of $0.84 and a stock price of $11.55. This stock has an historical high dividend yield of over 54% and a historical median dividend yield of 8.5%. The current dividend yield is 7.27%. This suggests that the market thinks the stock is risky or will cut it dividends.
It would seem to me that the company can afford its dividends even though the payout ratios are currently a bit high. The Payout Ratio is high with the Dividend Payout Ratio for EPS at 5 year median of 82%. The DPR for 2015 is low at 67%. It is expected that the DPR for 2016 will be over 100%, but then reducing to 62% in 2017. The DPR for CFPS is lower with the rate for 2015 at 28%. Over the past 5 years the DPR for CFPS is a bit high at 47%.
They have been able to grow their revenue, but this depends on you look at Revenue. As a Financial Services firm which it is now considered they are growing their Revenue at some 250% over the past 9 years. They are also currently growing earnings and cash flow.
Their shares have grown at 12% and 131% per year over the past 5 and 9 years. If you want to look at growth you have to look at per share growth. If you take a look at Revenue, Revenue per Share has grown at 51.8% over the past 9 years compared to Revenue growth of 250% over the same time period.
The 5 year low, median and high median Price/Earnings per Share Ratios are 10.06, 12.76 and 11.96. The corresponding 10 year ratios are 7.74, 9.70 and 11.96. Do not forget this company used to be considered a Consumer Discretionary stock. The current P/E Ratio is 9.79 based on 2016 EPS estimate of $1.18 and a stock price of $11.55. This testing probably suggests that the stock price is relatively cheap.
I get a Graham Price of $15.30. The 10 year low, median and high median Price/Graham Price Ratios are 0.59, 0.77 and 0.92. The current P/GP Ratio is 0.76 based on a stock price of $11.55. This testing suggests that the stock price is relatively reasonable and below the median. For P/GP Ratio, a stock is considered cheap if the ratio is at or below 1.00.
I get a 10 year median Price/Book Value per Share Ratio of 1.16. The current P/B Ratio is 1.31 a value some 13% higher. The current P/B Ratio is based on BVPS of $13.19 and a stock price of $11.55. These P/B Ratios are rather low as a good ratio is considered to be around 1.50. This stock price testing suggests that the stock price is relatively reasonable but above the median.
The company has very high dividend yields. You have to wonder if doing dividend yield testing on a stock with an historical high of over 54% is valid. However, the historical median is 8.55%. The current dividend yield is some 15% below this. This stock price testing suggests that the stock price is relatively reasonable but above the median.
When I look at analyst's recommendations, I find Strong Buy, Buy and Hold recommendations of 4 analysts. The consensus recommendation is a Buy recommendation. The 12 month stock price consensus is $14.25. This implies a total return of 30.65% with 23.38% from capital gains and 7.27% from dividends. This total return assumes a current stock price of $11.55.
There is some analysis of this stock on Highland Digest. There is more interesting analysis of this stock on Stock Newsweek. There are some analysts' comments at Stock Chase.
I will have only one entry for this stock this year. However, I did a more complete report on this company in 2015 and you can see that report here.
The last stock I wrote about was about was WiLan Inc. (TSX-WIN, OTC-WILN)... learn more . The next stock I will write about will be Northland Power Inc. (TSX-NPI, OTC-NPIFF)... learn more on December 9, 2016 around 5 pm. Tomorrow on my other blog I will write about Something to Buy December 2016... learn more on Tuesday, December 8, 2016 around 5 pm.
Chesswood Group Limited is a financial services company operating primarily in the specialty finance industry. Chesswood's approach is to acquire financial services businesses. Its web site is here Chesswood Group Ltd.
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 website for stocks followed and investment notes. 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 or StockTwits.
Monday, December 5, 2016
WiLan Inc.
Sound bite for Twitter and StockTwits is: Cheap with problems. Even though they have had revenue and cash flow, EPS has not been there. Comprehensive Income is just as bad. They have just cut their dividends by some 76% because they have not been able to afford dividends compared to earnings for some time. It is also a patent troll. See my spreadsheet on WiLan Inc.
I do not own this stock of WiLan Inc. (TSX-WIN, OTC-WILN), but I used to. I bought this stock in 2000 and sold in 2006. I lost 99.4% of my investment. Good job I did not invest much in this stock, but I still lost over $12,000. I sold at a low of $0.60 a share plus paid $50.00 in commission. I do not know why I paid so much in commission as generally my commission was around $26 a trade at that time. The stock is currently around $1.82 per share.
The reason I bought this company in 2000 was because it was an up and coming company in communications. I sold it in 2006 after losing most of my investment. This stock has never recovered from the bubble that occurred in 2000. I lost all hope of ever making any money on this stock. The other thing is that they completely refocused their company, or completely changed it to earn money on their patents. That is they became patent trolls.
The just decreased their dividend by some 76%. They have had a number of earnings losses years and could not really afford their dividend. Over the past 5 year they paid out over 400% of what they made. If you look at dividend growth over the past 5 years, it is down by 10.6% per year. They are still expected to payout more this year than they earn but analysts expect better in 2017. However earnings for the first three quarters are lower than last year!
They have increased the outstanding share by 2% and 11.1% per year over the past 5 and 10 years. This means, especially for the longer term, we should be looking at per share values. The company is currently reporting in US$. The Revenue has grown by 15.1% and 17.0% per year over the past 5 and 10 years in US$. The Revenue per Share has grown at 12.9% and 5.3% US$ per year over the past 5 and 10 years.
Because of the years of earning losses, I cannot calculate growth per year for EPS. However, I can say that total EPS has grown at 138% and 115% over the past 5 and 10 years. Cash Flow per Share is growing. It has grown at the rate of 109% US$ per year over the past 5 years. Over the past 10 years CFPS has grown in total by 253%. There are negative cash flow years so I cannot calculate per year growth.
The 5 year low, median and high median Price/Earnings per Share Ratios are 11.74, 23.74 and 35.75. I cannot calculate P/E Ratios for the past 10 years or historically as there are too many year of earning losses. The current P/E Ratio is 3.42 based on a stock price of $1.82 CDN$ and 2016 EPS estimate of $0.53 CDN$ ($0.40 US$). The 5 year P/E Ratios are rather spread out, but a P/E Ratio of 3.42 is low. This stock price testing suggests that the stock is relatively cheap.
I get a Graham Price of $5.81 CDN$. The 10 year low, median and high median Price/Graham Price Ratios are 0.62, 1.12 and 1.56. The current P/GP Ratio is 0.31 based on a stock price of $1.82 CDN$. This stock price testing suggests that the stock is relatively cheap.
I get a 10 year Price/Book Value per Share Ratio of 1.88 CDN$. The current P/B Ratio is 0.64 based on a stock price of $1.82 CDN$ and BVPS of $2.82 CDN$. The current ratio is some 66% lower than the 10 year ratio. This stock price testing suggests that the stock is relatively cheap.
I cannot do any dividend yield testing as the dividend has been cut. The P/S Ratio is 7.37 CDN$. The current P/S Ratio is 1.99 CDN$ based on Revenues of $108.11 CDN$ ($81.30 US$), Revenue per Share of $0.91 CDN$ and a stock price of $1.82 CDN$. The current P/S Ratio is some 73% lower than the 10 year median ratio. This stock price testing suggests that the stock is relatively cheap.
When I look at analysts' recommendations I find 3 analysts following this stock with 2 Strong Buy and 1 Buy recommendation. The consensus recommendations would be a Strong Buy. The 12 months stock price consensus is $3.18. This implies a total return of 77.47% with 74.73% from capital gains and 2.75% from dividends based on a current price of $1.82.
There is some technical analysis on this stock at Wall Street Confidential. Williams Percent Range shows stock is close to being overbought. In other words stock price is high. This article in CSZ News talk about analysts being positive about this stock. Note price is quoted in US$ not CDN$. See what analysts are saying about this stock on Stock Chase . This article on Street Insider talks about one of this company's license Agreement.
I will have only one entry for this stock this year. However, I did a more complete report on this company in 2015 and you can see that report here.
The last stock I wrote about was about was Finning International Inc. (TSX-FTT, OTC-FINGF)... learn more . The next stock I will write about will be Chesswood Group Ltd. (TSX-CHW, OTC-CHWWF)... learn more on Wednesday, December 7, 2016 around 5 pm. Tomorrow on my other blog I will write about Dividend Stocks December 2016... learn more on Tuesday, December 6, 2016 around 5 pm.
Wi-LAN Inc. is an intellectual property licensing company. The Company develops, acquires, licenses and enforces a range of patented technologies which are utilized in products in the communications and consumer electronics markets. Its web site is here WiLan Inc.
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 website for stocks followed and investment notes. 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 or StockTwits.
I do not own this stock of WiLan Inc. (TSX-WIN, OTC-WILN), but I used to. I bought this stock in 2000 and sold in 2006. I lost 99.4% of my investment. Good job I did not invest much in this stock, but I still lost over $12,000. I sold at a low of $0.60 a share plus paid $50.00 in commission. I do not know why I paid so much in commission as generally my commission was around $26 a trade at that time. The stock is currently around $1.82 per share.
The reason I bought this company in 2000 was because it was an up and coming company in communications. I sold it in 2006 after losing most of my investment. This stock has never recovered from the bubble that occurred in 2000. I lost all hope of ever making any money on this stock. The other thing is that they completely refocused their company, or completely changed it to earn money on their patents. That is they became patent trolls.
The just decreased their dividend by some 76%. They have had a number of earnings losses years and could not really afford their dividend. Over the past 5 year they paid out over 400% of what they made. If you look at dividend growth over the past 5 years, it is down by 10.6% per year. They are still expected to payout more this year than they earn but analysts expect better in 2017. However earnings for the first three quarters are lower than last year!
They have increased the outstanding share by 2% and 11.1% per year over the past 5 and 10 years. This means, especially for the longer term, we should be looking at per share values. The company is currently reporting in US$. The Revenue has grown by 15.1% and 17.0% per year over the past 5 and 10 years in US$. The Revenue per Share has grown at 12.9% and 5.3% US$ per year over the past 5 and 10 years.
Because of the years of earning losses, I cannot calculate growth per year for EPS. However, I can say that total EPS has grown at 138% and 115% over the past 5 and 10 years. Cash Flow per Share is growing. It has grown at the rate of 109% US$ per year over the past 5 years. Over the past 10 years CFPS has grown in total by 253%. There are negative cash flow years so I cannot calculate per year growth.
The 5 year low, median and high median Price/Earnings per Share Ratios are 11.74, 23.74 and 35.75. I cannot calculate P/E Ratios for the past 10 years or historically as there are too many year of earning losses. The current P/E Ratio is 3.42 based on a stock price of $1.82 CDN$ and 2016 EPS estimate of $0.53 CDN$ ($0.40 US$). The 5 year P/E Ratios are rather spread out, but a P/E Ratio of 3.42 is low. This stock price testing suggests that the stock is relatively cheap.
I get a Graham Price of $5.81 CDN$. The 10 year low, median and high median Price/Graham Price Ratios are 0.62, 1.12 and 1.56. The current P/GP Ratio is 0.31 based on a stock price of $1.82 CDN$. This stock price testing suggests that the stock is relatively cheap.
I get a 10 year Price/Book Value per Share Ratio of 1.88 CDN$. The current P/B Ratio is 0.64 based on a stock price of $1.82 CDN$ and BVPS of $2.82 CDN$. The current ratio is some 66% lower than the 10 year ratio. This stock price testing suggests that the stock is relatively cheap.
I cannot do any dividend yield testing as the dividend has been cut. The P/S Ratio is 7.37 CDN$. The current P/S Ratio is 1.99 CDN$ based on Revenues of $108.11 CDN$ ($81.30 US$), Revenue per Share of $0.91 CDN$ and a stock price of $1.82 CDN$. The current P/S Ratio is some 73% lower than the 10 year median ratio. This stock price testing suggests that the stock is relatively cheap.
When I look at analysts' recommendations I find 3 analysts following this stock with 2 Strong Buy and 1 Buy recommendation. The consensus recommendations would be a Strong Buy. The 12 months stock price consensus is $3.18. This implies a total return of 77.47% with 74.73% from capital gains and 2.75% from dividends based on a current price of $1.82.
There is some technical analysis on this stock at Wall Street Confidential. Williams Percent Range shows stock is close to being overbought. In other words stock price is high. This article in CSZ News talk about analysts being positive about this stock. Note price is quoted in US$ not CDN$. See what analysts are saying about this stock on Stock Chase . This article on Street Insider talks about one of this company's license Agreement.
I will have only one entry for this stock this year. However, I did a more complete report on this company in 2015 and you can see that report here.
The last stock I wrote about was about was Finning International Inc. (TSX-FTT, OTC-FINGF)... learn more . The next stock I will write about will be Chesswood Group Ltd. (TSX-CHW, OTC-CHWWF)... learn more on Wednesday, December 7, 2016 around 5 pm. Tomorrow on my other blog I will write about Dividend Stocks December 2016... learn more on Tuesday, December 6, 2016 around 5 pm.
Wi-LAN Inc. is an intellectual property licensing company. The Company develops, acquires, licenses and enforces a range of patented technologies which are utilized in products in the communications and consumer electronics markets. Its web site is here WiLan Inc.
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 website for stocks followed and investment notes. 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 or StockTwits.
Friday, December 2, 2016
Finning International Inc.
Sound bite for Twitter and StockTwits is: Cheap to reasonable. I tend to think that the best stock price test is using Dividend Yield. This test uses no estimate and uses current data. The problem using P/E Ratios for Industrial stocks is that earnings tend to be volatile. It has been a tough recovery for a lot of companies, but Finning seems to currently have momentum. See my spreadsheet on Finning International Inc.
I do not own this stock of Finning International Inc. (TSX-FTT, OTC-FINGF). When I was in the market to buy an industrial stock in this area in 2007, I look at this stock was well as Toromont Industries (TSX-TIH). At the time I liked Toromont better, so that is what I bought. Now, the only reason I would not buy this company is because I own Toromont Industries Ltd. They are both involved with Caterpillar equipment, although the companies are often classified in different sectors. I classify these companies as industrials, but Stock Channel classifies Finning as Construction and Finning as Industrial.
Dividends are low to moderate. Lately the dividend is higher than it has ever been before. The current dividend is 2.74%. The current dividend is based on dividends of $0.73 and a stock price of $26.67. The 5 year median dividend yield is 2.40%, and the historical median dividend is 1.64%. The dividend growth is moderate. The dividends have grown at 9.1% and 11.4% per year over the past 5 and 10 years.
This year dividends have not increased. The company has raised it dividends every year since 2002 with the exception of 2009. Between 1996 and 2001 dividends were flat. The last time the dividends were decreased was in 1991. So really dividend changes are a mixed bag.
Last year was not a good year and the company had an earnings loss. However, if you compare the dividends paid over the paid 5 years to the EPS over the past 5 years, the Dividend Payout Ratio is 48.6%. The 5 year median Dividend Payout Ratio is 30.8%. (The median is what the payout is most likely to be.) The DPR for CFPS for 2015 is 18.2% with a 5 year median of 12.5%. So it seems that the company can afford the dividends.
2015 was not a good year as they had an earnings loss. However, the earnings loss was mainly due an asset impairment loss. Analysts expect the company to have positive earnings again in this year. This seems reasonable.
The 5 year low, median and high median Price/Earnings per Share Ratios are 11.13, 13.17 and 15.20. The corresponding 10 year ratios are 14.47, 15.85 and 19.23. The corresponding historical ratios are 12.03, 14.99 and 17.80. The current forward P/E Ratio is 39.22 based on a stock price of $26.67 and 2016 EPS estimate of $0.68. The forward P/E Ratio corresponding with the 2017 EPS estimate of $1.25 is 21.34. All this would seem to suggest that this stock price testing shows the stock price to be relatively expensive.
I get a Graham Price of $13.13. The 10 year low, median and high median Price/Graham Price Ratios are 1.15, 1.44 and 1.71. The current P/GP Ratio is 2.03 based on a stock price of $26.67. This stock price testing suggests that the stock price is relatively expensive.
I get a 10 year Price/Book Value per Share Ratio of 2.34. The current P/B Ratio is 2.37 a value that is just 1.25 higher than the 10 year ratio. The current P/B Ratio is based on BVPS of $11.27 and a stock price of $26.67. This stock price suggests that the stock price is relatively reasonable and around the median.
The historical median Dividend Yield is 1.64%. The current dividend is 67% higher at 2.74%. The current dividend is based on dividends of $0.73 and a stock price of $26.67. This stock price testing suggests that the stock price is relatively cheap.
Dividend yields have been higher lately than historically. The 5 year median dividend yield is 2.40%. This is 14% below the current yield. Against the 5 year median, the stock price is relatively reasonable and below the median.
When I look at analysts' recommendations, I find Strong Buy, Buy, Hold and Underperform Recommendations. Most of the recommendations are a Hold and the consensus is a Hold. The 12 month stock price consensus is $24.72.
Yesterday Hazel Jackson on Frisco Fastball talked about recent analysts coverage with 2 rating it a "Buy", 2 "Sell", while 4 "Hold". This means 25% are positive. Will Ashworth on Motley Fool says why he does not like this stock. However, they did not repurchase 10% of the shares. So far there has been no repurchase in 2016. In 2015 they repurchased 2.5% of the outstanding shares for around $20.76 per share. (I must admit I also do not like share repurchase plans and often they are not repurchased at a good price.) Mostly the analysts like this stock at Stock Chase.
I will have only one entry for this stock this year. However, I did a more complete report on this company in 2015 and you can see that report here and here.
The last stock I wrote about was about was Crescent Point Energy Corp. (TSX-CPG, NYSE-CPG)... learn more . The next stock I will write about will be WiLan Inc. (TSX-WIN, OTC-WILN)... learn more on Monday, December 5, 2016 around 5 pm.
This company sells, rents and provides customer support services for Caterpillar equipment and engines. They cover Canada, UK, Argentina, Bolivia, Chile and Uruguay. Its web site is here Finning International Inc.
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 website for stocks followed and investment notes. 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 or StockTwits.
I do not own this stock of Finning International Inc. (TSX-FTT, OTC-FINGF). When I was in the market to buy an industrial stock in this area in 2007, I look at this stock was well as Toromont Industries (TSX-TIH). At the time I liked Toromont better, so that is what I bought. Now, the only reason I would not buy this company is because I own Toromont Industries Ltd. They are both involved with Caterpillar equipment, although the companies are often classified in different sectors. I classify these companies as industrials, but Stock Channel classifies Finning as Construction and Finning as Industrial.
Dividends are low to moderate. Lately the dividend is higher than it has ever been before. The current dividend is 2.74%. The current dividend is based on dividends of $0.73 and a stock price of $26.67. The 5 year median dividend yield is 2.40%, and the historical median dividend is 1.64%. The dividend growth is moderate. The dividends have grown at 9.1% and 11.4% per year over the past 5 and 10 years.
This year dividends have not increased. The company has raised it dividends every year since 2002 with the exception of 2009. Between 1996 and 2001 dividends were flat. The last time the dividends were decreased was in 1991. So really dividend changes are a mixed bag.
Last year was not a good year and the company had an earnings loss. However, if you compare the dividends paid over the paid 5 years to the EPS over the past 5 years, the Dividend Payout Ratio is 48.6%. The 5 year median Dividend Payout Ratio is 30.8%. (The median is what the payout is most likely to be.) The DPR for CFPS for 2015 is 18.2% with a 5 year median of 12.5%. So it seems that the company can afford the dividends.
2015 was not a good year as they had an earnings loss. However, the earnings loss was mainly due an asset impairment loss. Analysts expect the company to have positive earnings again in this year. This seems reasonable.
The 5 year low, median and high median Price/Earnings per Share Ratios are 11.13, 13.17 and 15.20. The corresponding 10 year ratios are 14.47, 15.85 and 19.23. The corresponding historical ratios are 12.03, 14.99 and 17.80. The current forward P/E Ratio is 39.22 based on a stock price of $26.67 and 2016 EPS estimate of $0.68. The forward P/E Ratio corresponding with the 2017 EPS estimate of $1.25 is 21.34. All this would seem to suggest that this stock price testing shows the stock price to be relatively expensive.
I get a Graham Price of $13.13. The 10 year low, median and high median Price/Graham Price Ratios are 1.15, 1.44 and 1.71. The current P/GP Ratio is 2.03 based on a stock price of $26.67. This stock price testing suggests that the stock price is relatively expensive.
I get a 10 year Price/Book Value per Share Ratio of 2.34. The current P/B Ratio is 2.37 a value that is just 1.25 higher than the 10 year ratio. The current P/B Ratio is based on BVPS of $11.27 and a stock price of $26.67. This stock price suggests that the stock price is relatively reasonable and around the median.
The historical median Dividend Yield is 1.64%. The current dividend is 67% higher at 2.74%. The current dividend is based on dividends of $0.73 and a stock price of $26.67. This stock price testing suggests that the stock price is relatively cheap.
Dividend yields have been higher lately than historically. The 5 year median dividend yield is 2.40%. This is 14% below the current yield. Against the 5 year median, the stock price is relatively reasonable and below the median.
When I look at analysts' recommendations, I find Strong Buy, Buy, Hold and Underperform Recommendations. Most of the recommendations are a Hold and the consensus is a Hold. The 12 month stock price consensus is $24.72.
Yesterday Hazel Jackson on Frisco Fastball talked about recent analysts coverage with 2 rating it a "Buy", 2 "Sell", while 4 "Hold". This means 25% are positive. Will Ashworth on Motley Fool says why he does not like this stock. However, they did not repurchase 10% of the shares. So far there has been no repurchase in 2016. In 2015 they repurchased 2.5% of the outstanding shares for around $20.76 per share. (I must admit I also do not like share repurchase plans and often they are not repurchased at a good price.) Mostly the analysts like this stock at Stock Chase.
I will have only one entry for this stock this year. However, I did a more complete report on this company in 2015 and you can see that report here and here.
The last stock I wrote about was about was Crescent Point Energy Corp. (TSX-CPG, NYSE-CPG)... learn more . The next stock I will write about will be WiLan Inc. (TSX-WIN, OTC-WILN)... learn more on Monday, December 5, 2016 around 5 pm.
This company sells, rents and provides customer support services for Caterpillar equipment and engines. They cover Canada, UK, Argentina, Bolivia, Chile and Uruguay. Its web site is here Finning International Inc.
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 website for stocks followed and investment notes. 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 or StockTwits.
Wednesday, November 30, 2016
Crescent Point Energy Corp
Sound bite for Twitter and StockTwits is: Cheap and risky. Dividends stocks hit their low point after a dividend cut. The dividend cut on this stock happened a while ago and the stock is currently recovering somewhat. So the time to get the cheapest price is when a dividend cut is announced. See my spreadsheet on Crescent Point Energy Corp.
I do not own this stock of Crescent Point Energy Corp. (TSX-CPG, NYSE-CPG). I got this idea to look into this stock from another blogger, My Own Advisor and his November 2012 blog entry on great Canadian dividend paying stocks. I also noticed that several people at the Toronto Money Show of 2013 mentioned this stock.
This stock has been cutting it dividends since 2015 after keeping the dividend flat for 5 years. Dividends since 2015 are down by 87%. The latest dividend cut was in 2016 and it was for 70%. It is not surprising as this stock is into oil and gas exploration. Earnings for 2015 were negative and they are expected to remain negative this year and next year.
Shares have increased a lot over the past 5 and 10 years. Outstanding shares are up by 13.6% and 44.2% per year over the past 5 and 10 years. This means that when looking at this stock, it is the per share values that would point to any growth. You can really see this when looking at Revenue, where Revenue growth is 12.8% and 27.3% per year over the past 5 and 10 years. Revenue per Share has declined by 0.7% and 0.8% per year over the past 5 and 10 years. They really are not currently growing where Revenue is concerned.
One of the analysts from Stock Chase pointed out that people bought this stock for the dividends. Others have said this too. However, I do not think that it is wise to count on dividends from an oil and gas producer. These companies go through boom and bust all the time. They tend to have busts in the bad times and that may be the times when dividend investors can least afford a big cuts to dividends.
However, when dividends are good you can benefit. On this stock if you bought it 5, 10 or 15 years ago dividends would have covered your original price if you paid a median price by 25.89%, 124.39% and 972.95%. However, past performance does not necessarily show what the future performance will be. This stock also used to be an income trust stock.
The 15 year low, median and high median Price/Earnings per Share Ratios are 12.11, 14.97 and 16.74. This might be useful in the future when they are again earning money. However, you cannot really test stock price using P/E Ratios as 2016 and 2017 EPS are expected to be negative and 2018 earnings will be low.
I get a Graham Price of $11.77 after doing some fudging because of lack of earnings in 2016. The low, median and high median Price/Graham Price Ratios are 1.50, 1.82 and 2.25. These are rather high. However, the current P/GP Ratio is currently at 1.35 based on a stock price of $15.90. This stock price testing suggests that the stock price is relatively cheap.
The 10 year median Price/Book Value per Share Ratio is 1.68. The current P/B Ratio is 0.85 a values some 495 lower. The current P/B Ratio is based on BVPS of $18.64 and a stock price of $15.90. This stock price testing suggests that the stock price is relatively cheap.
The 10 year median P/S Ratio is 4.20. The current P/S Ratio is 3.38 based on 2016 Revenue estimate of $2549M with Revenue per Share of $4.71 and a current stock price of $15.90. The current P/S Ratio is 19.6% lower than the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap. (Really to be cheap, the current ratio needs to be 20% lower, but it is very close.)
When I look at analysts' recommendations, I find Strong Buy, Buy and Hold recommendations. The most recommendation is a Buy recommendation and the consensus recommendation is a Buy. The 12 month stock price consensus is $23.22. This implies a total return of 48.30% with 46.04% from capital gains and 2.26% from dividends based on a current stock price of $15.90.
Alexander John Tun of Motley Fool thinks that this company is trading at a price too hard to ignore. He believes that it is also trading relatively lower than similar stock. Geoffrey Morgan in the Financial Post says that the company's losses in the third quarter have narrowed because of technological improvements. Analysts have different views of this stock at Stock Chase.
I will have only one entry for this stock this year. However, I did a more complete report on this company in 2015 and you can see that report hereand here.
The last stock I wrote about was about was Innergex Renewable Energy (TSX-INE, OTC-INGXF)... learn more . The next stock I will write about will be Finning International Inc. (TSX-FTT, OTC-FINGF)... learn more on Friday, December 2, 2016 around 5 pm. Tomorrow on my other blog I will write about Debt Ratios... learn more on Thursday, December 1, 2016 around 5 pm.
Crescent Point Energy Corp. is a Canada-based oil and gas exploration, development and production company. The Company is a conventional oil and gas producer with assets focused in properties consisting of assets light and medium oil and natural gas reserves in Western Canada and the United States. It is involved in acquiring, developing and holding interests in petroleum and natural gas properties and assets through a general partnership and wholly owned subsidiaries. Its web site is here Crescent Point Energy Corp.
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 website for stocks followed and investment notes. 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 or StockTwits.
I do not own this stock of Crescent Point Energy Corp. (TSX-CPG, NYSE-CPG). I got this idea to look into this stock from another blogger, My Own Advisor and his November 2012 blog entry on great Canadian dividend paying stocks. I also noticed that several people at the Toronto Money Show of 2013 mentioned this stock.
This stock has been cutting it dividends since 2015 after keeping the dividend flat for 5 years. Dividends since 2015 are down by 87%. The latest dividend cut was in 2016 and it was for 70%. It is not surprising as this stock is into oil and gas exploration. Earnings for 2015 were negative and they are expected to remain negative this year and next year.
Shares have increased a lot over the past 5 and 10 years. Outstanding shares are up by 13.6% and 44.2% per year over the past 5 and 10 years. This means that when looking at this stock, it is the per share values that would point to any growth. You can really see this when looking at Revenue, where Revenue growth is 12.8% and 27.3% per year over the past 5 and 10 years. Revenue per Share has declined by 0.7% and 0.8% per year over the past 5 and 10 years. They really are not currently growing where Revenue is concerned.
One of the analysts from Stock Chase pointed out that people bought this stock for the dividends. Others have said this too. However, I do not think that it is wise to count on dividends from an oil and gas producer. These companies go through boom and bust all the time. They tend to have busts in the bad times and that may be the times when dividend investors can least afford a big cuts to dividends.
However, when dividends are good you can benefit. On this stock if you bought it 5, 10 or 15 years ago dividends would have covered your original price if you paid a median price by 25.89%, 124.39% and 972.95%. However, past performance does not necessarily show what the future performance will be. This stock also used to be an income trust stock.
The 15 year low, median and high median Price/Earnings per Share Ratios are 12.11, 14.97 and 16.74. This might be useful in the future when they are again earning money. However, you cannot really test stock price using P/E Ratios as 2016 and 2017 EPS are expected to be negative and 2018 earnings will be low.
I get a Graham Price of $11.77 after doing some fudging because of lack of earnings in 2016. The low, median and high median Price/Graham Price Ratios are 1.50, 1.82 and 2.25. These are rather high. However, the current P/GP Ratio is currently at 1.35 based on a stock price of $15.90. This stock price testing suggests that the stock price is relatively cheap.
The 10 year median Price/Book Value per Share Ratio is 1.68. The current P/B Ratio is 0.85 a values some 495 lower. The current P/B Ratio is based on BVPS of $18.64 and a stock price of $15.90. This stock price testing suggests that the stock price is relatively cheap.
The 10 year median P/S Ratio is 4.20. The current P/S Ratio is 3.38 based on 2016 Revenue estimate of $2549M with Revenue per Share of $4.71 and a current stock price of $15.90. The current P/S Ratio is 19.6% lower than the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap. (Really to be cheap, the current ratio needs to be 20% lower, but it is very close.)
When I look at analysts' recommendations, I find Strong Buy, Buy and Hold recommendations. The most recommendation is a Buy recommendation and the consensus recommendation is a Buy. The 12 month stock price consensus is $23.22. This implies a total return of 48.30% with 46.04% from capital gains and 2.26% from dividends based on a current stock price of $15.90.
Alexander John Tun of Motley Fool thinks that this company is trading at a price too hard to ignore. He believes that it is also trading relatively lower than similar stock. Geoffrey Morgan in the Financial Post says that the company's losses in the third quarter have narrowed because of technological improvements. Analysts have different views of this stock at Stock Chase.
I will have only one entry for this stock this year. However, I did a more complete report on this company in 2015 and you can see that report hereand here.
The last stock I wrote about was about was Innergex Renewable Energy (TSX-INE, OTC-INGXF)... learn more . The next stock I will write about will be Finning International Inc. (TSX-FTT, OTC-FINGF)... learn more on Friday, December 2, 2016 around 5 pm. Tomorrow on my other blog I will write about Debt Ratios... learn more on Thursday, December 1, 2016 around 5 pm.
Crescent Point Energy Corp. is a Canada-based oil and gas exploration, development and production company. The Company is a conventional oil and gas producer with assets focused in properties consisting of assets light and medium oil and natural gas reserves in Western Canada and the United States. It is involved in acquiring, developing and holding interests in petroleum and natural gas properties and assets through a general partnership and wholly owned subsidiaries. Its web site is here Crescent Point Energy Corp.
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 website for stocks followed and investment notes. 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 or StockTwits.
Monday, November 28, 2016
Innergex Renewable Energy
Sound bite for Twitter and StockTwits is: Bit expensive. I do not like this stock. They cannot afford their dividends and the Long Term Debt/ Market Cap Ratio is above 1.00. Also their book value is dropping. See my spreadsheet on Innergex Renewable Energy.
I do not own this stock of Innergex Renewable Energy (TSX-INE, OTC-INGXF), but I used to. I bought this stock in 2006 as it was highly rated and it was in the alternative energy field. I bought Innergex Power on a buy rating and favorable report from TD although it has only been going from 2003. In 2008 I sold Innergex as I did not think that it is a stock I want to hold as dividend increased less than the rate of inflation.
This company used to be an income trust. On March 29, 2010 the company changed from an income trust of Innergex Power (IEF.UN) to Innergex Renewable Energy (INE) and the strategic combination of Innergex Power Income Fund and Innergex Renewable Energy became effective. For INE shareholders, dividends were cut in 2010 and then increased in 2011, so in the end dividends were only cut by just over 14%.
Dividends have been growing lately and the growth is at 6% per year over the past 5 years. However, dividends have declined over the past 10 years by 0.5%. Dividend yield is currently at 4.64% based on dividends of $0.64 and a stock price of $13.80. By my standards the dividend growth for the past 5 years is low and the dividends are good.
They are not earning enough to cover the dividends. In the past 5 years they have paid out in dividends more than they have earned. In 2015 they had an earnings loss of $0.37 and paid out $0.59 in dividends. Dividends have been covered by CFPS where 93.7% of the CFPS was paid out in dividends. The 5 year median payout via CFPS is better at 43%.
The Liquidity Ratio is good at 2.15. The Debt Ratio is very low at just 1.18 where you want to see a ratio of 1.50 or better. Leverage and Debt/Equity Ratios are very high at 6.63 and 5.63 where you want to see ratios of less than 3.00 and 2.00 respectively.
However, what really bothers me about their debt is that their long term debt is currently at a ratio to the market cap of 1.63. The market is valuing this company way below just the long term debt. This is not good.
I cannot test the stock price using Price/Earnings per Share Ratio because I just have negative P/E Ratios.
I get a 10 year median Price/Book Value per Share Ratio of 1.87. The current P/B Ratio is 4.48 a value some 140% higher. The current P/B Ratio is based on BVPS of $3.08 and a Stock Price of $13.80. This stock price testing suggests that the stock price is relatively expensive. In absolute terms a P/B Ratio of 4.48 is high.
I get a Graham Price of $3.90. The 10 year low, median and high median Price/Graham Price Ratios are 1.28, 1.42 and 1.57. The current P/GP Ratio is 3.54 based on a stock price of $13.80. This stock price testing suggests that the stock price is relatively expensive. In absolute terms a P/GP Ratio of 3.54 is high. Problem is earnings are low and Book Value is dropping.
You cannot use historical median dividend yields as this stock used to be an income trust. The 5 year median Dividend Yield is 5.57% and the current Dividend Yield is 4.64% a value some 18% lower. By this measure, the stock price seems to be reasonable but above the median. It is getting close to expensive.
The 10 year median P/S Ratio 5.25 and the current P/S Ratio is 5.13 a value some 2.4% lower. This stock price testing suggests that the stock price is reasonable and below the median. I think a P/S Ratio of 5.13 is a rather high one however.
When I look at analysts’ recommendations, I find Strong Buy, Buy and Hold recommendations. Most are a hold and the consensus recommendations would be a Hold. The 12 month stock price is $16.41. This implies a total return of 23.55% with 18.91% from capital gains and 4.64% from dividends.
Demetris Afxentiou of Motley Fool likes this stock and the renewable energy field. Some technical analysis is done on this stock at Wall Street Confidential. The Williams Percent Range shows that this stock is neither oversold nor overbought. There is a positive report on this company at World Finance.
I will have only one entry for this stock this year. However, I did a more complete report on this company in 2015 and you can see that report here and here.
The last stock I wrote about was about was PFB Corp. (TSX-PFB, OTC-PFBOF)... learn more . The next stock I will write about will be Crescent Point Energy Corp. (TSX-CPG, NYSE-CPG)... learn more on Wednesday, November 30, 2016 around 5 pm. Tomorrow on my other blog I will write about Valeant Pharmaceuticals and Debt... learn more on Tuesday, November 29, 2016 around 5 pm.
Innergex is involved in Canada's renewable energy industry. The Company develops, owns and operates facilities located in North America, leveraging run-of-river hydroelectric power generating facilities, wind farms and photovoltaic solar parks. Its web site is here Innergex Renewable Energy.
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 website for stocks followed and investment notes. 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 or StockTwits.
I do not own this stock of Innergex Renewable Energy (TSX-INE, OTC-INGXF), but I used to. I bought this stock in 2006 as it was highly rated and it was in the alternative energy field. I bought Innergex Power on a buy rating and favorable report from TD although it has only been going from 2003. In 2008 I sold Innergex as I did not think that it is a stock I want to hold as dividend increased less than the rate of inflation.
This company used to be an income trust. On March 29, 2010 the company changed from an income trust of Innergex Power (IEF.UN) to Innergex Renewable Energy (INE) and the strategic combination of Innergex Power Income Fund and Innergex Renewable Energy became effective. For INE shareholders, dividends were cut in 2010 and then increased in 2011, so in the end dividends were only cut by just over 14%.
Dividends have been growing lately and the growth is at 6% per year over the past 5 years. However, dividends have declined over the past 10 years by 0.5%. Dividend yield is currently at 4.64% based on dividends of $0.64 and a stock price of $13.80. By my standards the dividend growth for the past 5 years is low and the dividends are good.
They are not earning enough to cover the dividends. In the past 5 years they have paid out in dividends more than they have earned. In 2015 they had an earnings loss of $0.37 and paid out $0.59 in dividends. Dividends have been covered by CFPS where 93.7% of the CFPS was paid out in dividends. The 5 year median payout via CFPS is better at 43%.
The Liquidity Ratio is good at 2.15. The Debt Ratio is very low at just 1.18 where you want to see a ratio of 1.50 or better. Leverage and Debt/Equity Ratios are very high at 6.63 and 5.63 where you want to see ratios of less than 3.00 and 2.00 respectively.
However, what really bothers me about their debt is that their long term debt is currently at a ratio to the market cap of 1.63. The market is valuing this company way below just the long term debt. This is not good.
I cannot test the stock price using Price/Earnings per Share Ratio because I just have negative P/E Ratios.
I get a 10 year median Price/Book Value per Share Ratio of 1.87. The current P/B Ratio is 4.48 a value some 140% higher. The current P/B Ratio is based on BVPS of $3.08 and a Stock Price of $13.80. This stock price testing suggests that the stock price is relatively expensive. In absolute terms a P/B Ratio of 4.48 is high.
I get a Graham Price of $3.90. The 10 year low, median and high median Price/Graham Price Ratios are 1.28, 1.42 and 1.57. The current P/GP Ratio is 3.54 based on a stock price of $13.80. This stock price testing suggests that the stock price is relatively expensive. In absolute terms a P/GP Ratio of 3.54 is high. Problem is earnings are low and Book Value is dropping.
You cannot use historical median dividend yields as this stock used to be an income trust. The 5 year median Dividend Yield is 5.57% and the current Dividend Yield is 4.64% a value some 18% lower. By this measure, the stock price seems to be reasonable but above the median. It is getting close to expensive.
The 10 year median P/S Ratio 5.25 and the current P/S Ratio is 5.13 a value some 2.4% lower. This stock price testing suggests that the stock price is reasonable and below the median. I think a P/S Ratio of 5.13 is a rather high one however.
When I look at analysts’ recommendations, I find Strong Buy, Buy and Hold recommendations. Most are a hold and the consensus recommendations would be a Hold. The 12 month stock price is $16.41. This implies a total return of 23.55% with 18.91% from capital gains and 4.64% from dividends.
Demetris Afxentiou of Motley Fool likes this stock and the renewable energy field. Some technical analysis is done on this stock at Wall Street Confidential. The Williams Percent Range shows that this stock is neither oversold nor overbought. There is a positive report on this company at World Finance.
I will have only one entry for this stock this year. However, I did a more complete report on this company in 2015 and you can see that report here and here.
The last stock I wrote about was about was PFB Corp. (TSX-PFB, OTC-PFBOF)... learn more . The next stock I will write about will be Crescent Point Energy Corp. (TSX-CPG, NYSE-CPG)... learn more on Wednesday, November 30, 2016 around 5 pm. Tomorrow on my other blog I will write about Valeant Pharmaceuticals and Debt... learn more on Tuesday, November 29, 2016 around 5 pm.
Innergex is involved in Canada's renewable energy industry. The Company develops, owns and operates facilities located in North America, leveraging run-of-river hydroelectric power generating facilities, wind farms and photovoltaic solar parks. Its web site is here Innergex Renewable Energy.
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 website for stocks followed and investment notes. 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 or StockTwits.
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