I do not own this stock of ATCO Ltd. (TSX-ACO.X, OTC-ACLLF). I started to look at this stock because it was a dividend paying stock that was on everyone's list. This stock is on the Dividend Achievers list, the Dividend Aristocrats list and also was on Mike Higgs' list.
When I look at insider trading I find insider selling at $8.9M and insider buying at $0.9M and net insider selling at $8M. It may seem like a lot of insider selling but net insider selling is at just 0.15% of the market cap of this stock.
This stock has two classes of share, one voting and one non-voting. The voting shares are mostly owned by the Southern family and they therefore control the company. They do have a lot invested in the company with Ronald D. Southern owning shares worth over $1.7B in Class I and Class II shares.
The 5 year low, median and high median Price/Earnings per Share Ratios are 9.04, 10.74 and 12.05. The corresponding 10 year figures are slightly higher. The current P/E Ratio is 13.55 based on a stock price $46.88 and 2014 earnings estimate of $3.46. This stock price test suggests that this stock is relatively expensive.
I get a Graham Price of $44.84 and the 10 year low, median and high median Price/Graham Price Ratios are 0.77, 0.89 and 1.00. The current P/GP Ratio is 1.05 based on a stock price of $46.88. This stock price test suggests that this stock is relatively expensive.
The 10 year Price/Book Value per Share Ratio is 1.61. The current P/B ratio is 1.82 a value some 13% higher and based on a stock price of $46.88 and current BVPS of $25.82. This stock price test suggests that this stock is relatively reasonable although a bit on the high side.
The 5 year dividend yield is 1.88% and the current dividend yield of 1.83% is just 2.5% lower. This stock price test suggests that this stock is relatively reasonable. The historical average dividend yield is 2.27% a value some 19% higher and the historical median dividend yield is 2.08% a value some 12% higher. These stock price tests suggest that this stock is relatively reasonable although a bit on the high side.
When I look at analysts' recommendations, I find Buy, Hold and Underperform recommendations. The consensus recommendation is a Hold. Most of the recommendations are a Hold. The 12 month stock price is $52.80. This implies total return of 14.46% with 12.63% from capital gains and 1.83% from dividends.
A recent article in Forbes says that this stock is oversold because the current RSI reading is 29.3. The stock price has been falling since its peak in April of 2014. (The meaning of "oversold" is that people having been doing too much selling of this stock. It suggests that it may be time to buy this stock.)
Sound bit for Twitter and StockTwits is: Stock price seems a bit high. I think that the stock price seems a big high as it is for a lot of utility stocks. See my spreadsheet at aco.htm.
This is the second of two parts. The first part was posted on Wednesday, September 03, 2014 and is available here. The first part talks about the stock and the second part talks about the stock price.
ATCO LTD. is a management holding company with operating subsidiaries in electric and natural gas utility operations, independent power operations, production, storage, processing, gathering, delivery of natural gas, technical facilities management for the industrial, defense and transportation sectors, the manufacture, sale and leasing of industrial shelters and industrial noise abatement technologies. ATCO has just over 50% stake in Canadian Utilities Ltd. The company utilizes a dual share structure of voting and non-voting shares. Its web site is here ATCO.
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. Follow me on Twitter or StockTwits.
Thursday, September 4, 2014
Wednesday, September 3, 2014
ATCO Ltd.
On my other blog I am today writing about possible cheap dividend stocks for September 2014 continue...
I do not own this stock of ATCO Ltd. (TSX-ACO.X, OTC-ACLLF). This is a dividend paying stock that is on everyone's list. This stock is on the Dividend Achievers list, the Dividend Aristocrats list at and also was on Mike Higgs' list.
The dividend is moderate and the growth is fairly good. The current dividend yield is 1.84% and the 5 year median dividend yield is 1.88%. The 5 and 10 year dividend growth is at 9.8% and 8.9% per year. The most recent dividend increase was for 2014 and it was for 14.7%. In fact the last three dividend increases has been around this higher value.
The Dividend Payout Ratios are quite good with 5 year median rates at 20.5% for EPS and 4.6% for CFPS. The corresponding DPR for 2013 are at 24.9% for EPS and 4.6% for CFPS.
There has been no growth in outstanding shares over the past 5 and 10 years. Shares have increased due to Stock Options and they have decreased due to Buy Backs. The one problem I see for this stock is that the growth in EPS and Cash Flow is much higher than the growth in revenue over the last 5 and 10 years. The company must increase their revenue or growth in earnings and cash flow must fall.
Revenue per Share has grown at 6% and 1.4% per year over the past 5 and 10 years. The 5 and 10 year growth using 5 year running averages is not much different at 5.2% and 2% per year over the past 5 and 10 years. The EPS has grown at 9.2% and 12.8% per year over the past 5 and 10 years. Cash Flow per Share has grown at 15% and 12.9% per year over the past 5 and 10 years.
The shareholders of this stock have done well in total return over the past 5 and 10 years. The total return over the past 5 and 10 years is at 17.28% and 14.51% per year. The portion of this total return attributable to capital gains is at 15.11% and 12.30% per year. The portion of this total return attributable to dividends is at 2.17% and 2.21% per year.
The Return on Equity has been over 10% each year of the past 10 years. The ROE for 2013 is at 14.6% and the 5 year median ROE is also 14.6%. The ROE for comprehensive income for 2013 is at 18.3% and its 5 year median is at 13.1%.
The debt ratios are fine, with the Liquidity Ratio a bit low as they depend on cash flow to get a good Liquidity Ratio. The Liquidity Ratio for 2013 is at 1.38 and with the cash flow after dividends at 2.94. The Debt Ratio is good at 1.60. The Leverage and Debt/Equity Ratios are fine at 2.66 and 1.66.
Sound bit for Twitter and StockTwits is: Dividend Growth Stock. As I point out above, revenue is growth faster than earnings and cash flow. However, analysts do see better growth in revenue over the next few years, but there was not much grown to the end of the second quarter in 2014. See my spreadsheet at aco.htm.
This is the first of two parts. The second part will be posted on Thursday, September 04, 2014 and will be available here. The first part talks about the stock and the second part talks about the stock price.
ATCO LTD. is a management holding company with operating subsidiaries in electric and natural gas utility operations, independent power operations, production, storage, processing, gathering, delivery of natural gas, technical facilities management for the industrial, defense and transportation sectors, the manufacture, sale and leasing of industrial shelters and industrial noise abatement technologies. ATCO has just over 50% stake in Canadian Utilities Ltd. The company utilizes a dual share structure of voting and non-voting shares. Its web site is here ATCO.
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. Follow me on Twitter or StockTwits.
The dividend is moderate and the growth is fairly good. The current dividend yield is 1.84% and the 5 year median dividend yield is 1.88%. The 5 and 10 year dividend growth is at 9.8% and 8.9% per year. The most recent dividend increase was for 2014 and it was for 14.7%. In fact the last three dividend increases has been around this higher value.
The Dividend Payout Ratios are quite good with 5 year median rates at 20.5% for EPS and 4.6% for CFPS. The corresponding DPR for 2013 are at 24.9% for EPS and 4.6% for CFPS.
There has been no growth in outstanding shares over the past 5 and 10 years. Shares have increased due to Stock Options and they have decreased due to Buy Backs. The one problem I see for this stock is that the growth in EPS and Cash Flow is much higher than the growth in revenue over the last 5 and 10 years. The company must increase their revenue or growth in earnings and cash flow must fall.
Revenue per Share has grown at 6% and 1.4% per year over the past 5 and 10 years. The 5 and 10 year growth using 5 year running averages is not much different at 5.2% and 2% per year over the past 5 and 10 years. The EPS has grown at 9.2% and 12.8% per year over the past 5 and 10 years. Cash Flow per Share has grown at 15% and 12.9% per year over the past 5 and 10 years.
The shareholders of this stock have done well in total return over the past 5 and 10 years. The total return over the past 5 and 10 years is at 17.28% and 14.51% per year. The portion of this total return attributable to capital gains is at 15.11% and 12.30% per year. The portion of this total return attributable to dividends is at 2.17% and 2.21% per year.
The Return on Equity has been over 10% each year of the past 10 years. The ROE for 2013 is at 14.6% and the 5 year median ROE is also 14.6%. The ROE for comprehensive income for 2013 is at 18.3% and its 5 year median is at 13.1%.
The debt ratios are fine, with the Liquidity Ratio a bit low as they depend on cash flow to get a good Liquidity Ratio. The Liquidity Ratio for 2013 is at 1.38 and with the cash flow after dividends at 2.94. The Debt Ratio is good at 1.60. The Leverage and Debt/Equity Ratios are fine at 2.66 and 1.66.
Sound bit for Twitter and StockTwits is: Dividend Growth Stock. As I point out above, revenue is growth faster than earnings and cash flow. However, analysts do see better growth in revenue over the next few years, but there was not much grown to the end of the second quarter in 2014. See my spreadsheet at aco.htm.
This is the first of two parts. The second part will be posted on Thursday, September 04, 2014 and will be available here. The first part talks about the stock and the second part talks about the stock price.
ATCO LTD. is a management holding company with operating subsidiaries in electric and natural gas utility operations, independent power operations, production, storage, processing, gathering, delivery of natural gas, technical facilities management for the industrial, defense and transportation sectors, the manufacture, sale and leasing of industrial shelters and industrial noise abatement technologies. ATCO has just over 50% stake in Canadian Utilities Ltd. The company utilizes a dual share structure of voting and non-voting shares. Its web site is here ATCO.
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. Follow me on Twitter or StockTwits.
Tuesday, September 2, 2014
Andrew Peller Ltd.
On my other blog I am today writing about possible cheap dividend stocks for September 2014 continue...
I do not own this stock of Andrew Peller Ltd. (TSX-ADW.A, OTC-ADWPF), but I used to. I started a spreadsheet in April 2009 after I read a favorable report on the stock. Also, this stock was on Mike Higgs' dividend growth stock list. I held this stock when it was called Andres Wines between 1996 and 2000 in my RRSP account.
The dividend is decent currently at 3.1% and the 5 year median is 3.6%. The dividend growth is low over the past 5 years, but decent over the past 10 years. The 5 and 10 year dividend growth was 3.4% and 6.1% per year. The last dividend increase was in 2014 and it was for 5%.
Dividend increases are inconsistent as some years there are no dividend increases. It was the lack of dividend increases is why I sold this stock in 2000. The Dividend Payout Ratios are good with the 5 year median at 37.9% for EPS and at 23.8% for CFPS. The DPR for 2014 was 38.6% for EPS and 23.8% for CFPS.
When I look growth, I see that generally the 5 year running averages growth over the past 5 and 10 years is better than the 5 and 10 year growth. The Revenue per Share is up by 3% and 7% per year over the past 5 and 10 years, but using the 5 year running averages, the 5 and 10 years growth is at 5.3% and 6.9% per year.
EPS is down by 9.3% and up by 4.2% per year over the past 5 and 10 years. Using the 5 year running averages, the 5 and 10 year growth is 16.7% and 7.6% per year.
Cash Flow per Share is up by 5% and 5.6% per year over the past 5 and 10 years. Using the 5 year running averages, the 5 and 10 year growth is 5.6% and 7.5% per year.
The Return on Equity is below 10% for 5 year over the past 10 years, but only once in the past 5 years. The ROE for the financial year ending in March 2014 was at 10.2% and the 5 year median is 10.8%. The corresponding ROE on comprehensive income is 10% and 10%.
The debt ratios are fine with the Liquidity Ratio at 1.44, the Debt Ratio at 1.85 and the Leverage and Debt/Equity Ratios at 2.18 and 1.18 for the financial year ending March 2014.
The 5 year low, median and high median Price/Earnings per Share Ratios are 9.48, 10.54 and 11.60. The current P/E is at 15.91 using the last 12 months EPS value of $.95 and a stock price of $14.96. (There are no estimates.) By this stock price test, the stock price is relatively expensive.
I get a Graham Price of $14.41. The 10 year low, median and high median Price/Graham Price Ratios are 0.71, 0.87 and 1.02. The current P/GP Ratio is 0.94 based on a stock price of $14.96. By this stock price test, the stock price is relatively reasonable.
The 10 year Price/Book Value 1.38 and the current P/B Ratio is 1.38 based on a BVPS of $9.81 and a stock price of $14.96. By this stock price test, the stock price is relatively reasonable.
The 5 year median Dividend yield is 3.60% and the current dividend yield of 3.11% is some 13.5% lower. The historical average dividend yield is 4.02% a value some 22% higher than the current dividend yield and the historical median dividend yield is 3.60%. By this stock price test, the stock price is relatively reasonable, but at the higher end of the reasonableness range or getting to be expensive.
The total return on this stock to date over the past 5 and 10 years is at 16.99% and 7.60% per year with 13.91% and 4.81% per year from capital gains and 3.08% and 2.79% per year from dividends.
There is a G&M press release talking about this company having a strong first quarter for 2015. The Financial year for this company is in March. I do not see the first quarter as being strong. When I looked at the financials, the revenue is up slightly, but earnings and cash flow are down.
Sound bit for Twitter and StockTwits is: Dividend Growth Stock, Not Cheap. One problem with this stock is lack of analyst's coverage. It is not a great dividend growth stock, but the stock has returned reasonable total returns over the past 5 and 10 years. From my perspective, this stock price is not cheap enough to make this a good purchase at this time. See my spreadsheet at adw.htm.
I will have only one entry for this stock as I must do on some stock because I cover too many stocks to do double entries on all that I follow.
Andrew Peller Limited is a leading producer and marketer of quality wines in Canada. With wineries in British Columbia, Ontario and Nova Scotia, the Company markets wines produced from grapes grown in Ontario's Niagara Peninsula, British Columbia's Okanagan and Similkameen Valleys and vineyards around the world. They also market craft beer under the Granville Island brand. The Company produces and markets consumer-made wine kit products through Winexpert and Vineco International Products. The Company's products are sold predominantly in Canada. Class A shares are non-voting. Its web site is here Andrew Peller.
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. Follow me on Twitter or StockTwits.
I do not own this stock of Andrew Peller Ltd. (TSX-ADW.A, OTC-ADWPF), but I used to. I started a spreadsheet in April 2009 after I read a favorable report on the stock. Also, this stock was on Mike Higgs' dividend growth stock list. I held this stock when it was called Andres Wines between 1996 and 2000 in my RRSP account.
The dividend is decent currently at 3.1% and the 5 year median is 3.6%. The dividend growth is low over the past 5 years, but decent over the past 10 years. The 5 and 10 year dividend growth was 3.4% and 6.1% per year. The last dividend increase was in 2014 and it was for 5%.
Dividend increases are inconsistent as some years there are no dividend increases. It was the lack of dividend increases is why I sold this stock in 2000. The Dividend Payout Ratios are good with the 5 year median at 37.9% for EPS and at 23.8% for CFPS. The DPR for 2014 was 38.6% for EPS and 23.8% for CFPS.
When I look growth, I see that generally the 5 year running averages growth over the past 5 and 10 years is better than the 5 and 10 year growth. The Revenue per Share is up by 3% and 7% per year over the past 5 and 10 years, but using the 5 year running averages, the 5 and 10 years growth is at 5.3% and 6.9% per year.
EPS is down by 9.3% and up by 4.2% per year over the past 5 and 10 years. Using the 5 year running averages, the 5 and 10 year growth is 16.7% and 7.6% per year.
Cash Flow per Share is up by 5% and 5.6% per year over the past 5 and 10 years. Using the 5 year running averages, the 5 and 10 year growth is 5.6% and 7.5% per year.
The Return on Equity is below 10% for 5 year over the past 10 years, but only once in the past 5 years. The ROE for the financial year ending in March 2014 was at 10.2% and the 5 year median is 10.8%. The corresponding ROE on comprehensive income is 10% and 10%.
The debt ratios are fine with the Liquidity Ratio at 1.44, the Debt Ratio at 1.85 and the Leverage and Debt/Equity Ratios at 2.18 and 1.18 for the financial year ending March 2014.
The 5 year low, median and high median Price/Earnings per Share Ratios are 9.48, 10.54 and 11.60. The current P/E is at 15.91 using the last 12 months EPS value of $.95 and a stock price of $14.96. (There are no estimates.) By this stock price test, the stock price is relatively expensive.
I get a Graham Price of $14.41. The 10 year low, median and high median Price/Graham Price Ratios are 0.71, 0.87 and 1.02. The current P/GP Ratio is 0.94 based on a stock price of $14.96. By this stock price test, the stock price is relatively reasonable.
The 10 year Price/Book Value 1.38 and the current P/B Ratio is 1.38 based on a BVPS of $9.81 and a stock price of $14.96. By this stock price test, the stock price is relatively reasonable.
The 5 year median Dividend yield is 3.60% and the current dividend yield of 3.11% is some 13.5% lower. The historical average dividend yield is 4.02% a value some 22% higher than the current dividend yield and the historical median dividend yield is 3.60%. By this stock price test, the stock price is relatively reasonable, but at the higher end of the reasonableness range or getting to be expensive.
The total return on this stock to date over the past 5 and 10 years is at 16.99% and 7.60% per year with 13.91% and 4.81% per year from capital gains and 3.08% and 2.79% per year from dividends.
There is a G&M press release talking about this company having a strong first quarter for 2015. The Financial year for this company is in March. I do not see the first quarter as being strong. When I looked at the financials, the revenue is up slightly, but earnings and cash flow are down.
Sound bit for Twitter and StockTwits is: Dividend Growth Stock, Not Cheap. One problem with this stock is lack of analyst's coverage. It is not a great dividend growth stock, but the stock has returned reasonable total returns over the past 5 and 10 years. From my perspective, this stock price is not cheap enough to make this a good purchase at this time. See my spreadsheet at adw.htm.
I will have only one entry for this stock as I must do on some stock because I cover too many stocks to do double entries on all that I follow.
Andrew Peller Limited is a leading producer and marketer of quality wines in Canada. With wineries in British Columbia, Ontario and Nova Scotia, the Company markets wines produced from grapes grown in Ontario's Niagara Peninsula, British Columbia's Okanagan and Similkameen Valleys and vineyards around the world. They also market craft beer under the Granville Island brand. The Company produces and markets consumer-made wine kit products through Winexpert and Vineco International Products. The Company's products are sold predominantly in Canada. Class A shares are non-voting. Its web site is here Andrew Peller.
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. Follow me on Twitter or StockTwits.
Friday, August 29, 2014
Alimentation Couche-Tard Inc. 2
I do not own this stock of Alimentation Couche-Tard Inc. (TSX-ATD.B, OTC-ANCUF), but I used to. In 2004 I bought this stock as it has a good reputation and my spreadsheet showed I should do well with it. I bought more of this stock in 2006 as it had started to pay a dividend.
I sold the stock in my trading account in 2007 as I was raising mortgage money and this stock had gone down so was cheap, tax wise, to sell. In 2013, I sold the stock in my Pension account as it had the lowest dividend yield and I had to raise money in this account because of yearly withdrawals.
When I look at inside trading, I find $4.4M of insider selling and net insider selling at $4.1M with insider buying at $0.3M. Net insider selling is just 0.2% of the market cap and so is a relatively very small amount.
There is a lot of insider ownership, but in the Class A multiple voting shares. Insiders own some 76% of Class A stock and Metro Inc. (TSX-MRU) owns almost 22% of Class A stock. There is little insider ownership of Class B stock.
The CEO and Chairman owns Class A shares worth some 1.8B and Class B shares worth around $272M. Some officers of the company own a lot of Class A stock with one officer owning share worth $992M, another owning shares worth around $503M and another one owning shares worth around $204M.
For the financial year ending in April 2014, outstanding shares were increased by just over 3M for stock options. These shares have a book value of just $1.8M. However, at the end of April 2014 this number of shares was worth $93M. However, this number of shares is just 0.54% of outstanding shares and therefore stock option share issued are a relatively small number.
The 5 year median Price/Earnings per Share Ratios are 10.32, 13.93 and 17.55. The 10 year corresponding P/E Ratios were higher at 12.14, 15.95 and 19.64. The current P/E Ratio is 18.98 based on a stock price of $32.83 and 2015 EPS estimate of $1.73 CND$ and $1.58US$. This stock price test suggests that this stock is getting relatively expensive. Although on an absolute basis a P/E Ratio of 18.98 is not especially high.
I get a Graham Price of $17.37. The 10 year low, median and high median Price/Graham Price Ratios are 1.13, 1.47 and 1.13. The current P/GP Ratio is 1.89. This stock price test suggests that this stock is relatively expensive. On an absolute basis, a P/GP Ratio of 1.89 is quite high.
I get a 10 year median Price/Book Value per Share of 2.88 and the current P/B Ratio is 4.23. The current P/B Ratio is some 47% higher than the 10 year median P/B Ratio. This ratio is based on a stock price of $32.83 and current BVPS of $7.76. This stock price test suggests that this stock is relatively expensive.
The 5 year median dividend yield is 0.80%. The current dividend yield is some 39% lower at 0.49%. The historical average dividend yield is 0.77% and the historical median dividend yield is 0.70% of which are some 36% and 30% higher than the current dividend yield. All these test of the stock price suggests that this stock is relatively expensive.
When I look at analysts' recommendations, I get Strong Buy, Buy and Hold recommendations. The consensus recommendation is a Buy. The 12 month consensus stock price is $31.00. This implies a total loss of 5.09% with a capital loss of 5.57% and dividends of 0.49%. Stock price has been moving up lately and maybe that is why the 12 month consensus stock price is lower than the current stock price.
On a long term basis, dividend stock tend to have capital gains growth around the as dividend growth. Dividend growth is 18.95% per year over the past 10 years and capital gain growth is at 20.90%. These are pretty close. It is different looking at 5 year growth where dividend growth is 20.95% per year and capital gain growth is twice as high at 40.79% per year.
Sound bit for Twitter and StockTwits is: stock is relatively expensive. I think that this is a good company and it is doing well, but it is relatively expensive on a number of measurements. See my spreadsheet at atd.htm.
This is the second of two parts. The first part was posted on Thursday, August 28, 2014 and is available here. The first part talks about the stock and the second part talks about the stock price.
Couche-Tard is the largest convenience store operator in North America with over 4,600 company-operated stores. In Europe, with over 1,600 company-operated sites, Couche-Tard is a leader in c-store and road transportation fuel in Scandinavian and the Baltic States, with a growing presence in Poland. Its web site is here Alimentation Couche-Tard.
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. Follow me on Twitter or StockTwits.
I sold the stock in my trading account in 2007 as I was raising mortgage money and this stock had gone down so was cheap, tax wise, to sell. In 2013, I sold the stock in my Pension account as it had the lowest dividend yield and I had to raise money in this account because of yearly withdrawals.
When I look at inside trading, I find $4.4M of insider selling and net insider selling at $4.1M with insider buying at $0.3M. Net insider selling is just 0.2% of the market cap and so is a relatively very small amount.
There is a lot of insider ownership, but in the Class A multiple voting shares. Insiders own some 76% of Class A stock and Metro Inc. (TSX-MRU) owns almost 22% of Class A stock. There is little insider ownership of Class B stock.
The CEO and Chairman owns Class A shares worth some 1.8B and Class B shares worth around $272M. Some officers of the company own a lot of Class A stock with one officer owning share worth $992M, another owning shares worth around $503M and another one owning shares worth around $204M.
For the financial year ending in April 2014, outstanding shares were increased by just over 3M for stock options. These shares have a book value of just $1.8M. However, at the end of April 2014 this number of shares was worth $93M. However, this number of shares is just 0.54% of outstanding shares and therefore stock option share issued are a relatively small number.
The 5 year median Price/Earnings per Share Ratios are 10.32, 13.93 and 17.55. The 10 year corresponding P/E Ratios were higher at 12.14, 15.95 and 19.64. The current P/E Ratio is 18.98 based on a stock price of $32.83 and 2015 EPS estimate of $1.73 CND$ and $1.58US$. This stock price test suggests that this stock is getting relatively expensive. Although on an absolute basis a P/E Ratio of 18.98 is not especially high.
I get a Graham Price of $17.37. The 10 year low, median and high median Price/Graham Price Ratios are 1.13, 1.47 and 1.13. The current P/GP Ratio is 1.89. This stock price test suggests that this stock is relatively expensive. On an absolute basis, a P/GP Ratio of 1.89 is quite high.
I get a 10 year median Price/Book Value per Share of 2.88 and the current P/B Ratio is 4.23. The current P/B Ratio is some 47% higher than the 10 year median P/B Ratio. This ratio is based on a stock price of $32.83 and current BVPS of $7.76. This stock price test suggests that this stock is relatively expensive.
The 5 year median dividend yield is 0.80%. The current dividend yield is some 39% lower at 0.49%. The historical average dividend yield is 0.77% and the historical median dividend yield is 0.70% of which are some 36% and 30% higher than the current dividend yield. All these test of the stock price suggests that this stock is relatively expensive.
When I look at analysts' recommendations, I get Strong Buy, Buy and Hold recommendations. The consensus recommendation is a Buy. The 12 month consensus stock price is $31.00. This implies a total loss of 5.09% with a capital loss of 5.57% and dividends of 0.49%. Stock price has been moving up lately and maybe that is why the 12 month consensus stock price is lower than the current stock price.
On a long term basis, dividend stock tend to have capital gains growth around the as dividend growth. Dividend growth is 18.95% per year over the past 10 years and capital gain growth is at 20.90%. These are pretty close. It is different looking at 5 year growth where dividend growth is 20.95% per year and capital gain growth is twice as high at 40.79% per year.
Sound bit for Twitter and StockTwits is: stock is relatively expensive. I think that this is a good company and it is doing well, but it is relatively expensive on a number of measurements. See my spreadsheet at atd.htm.
This is the second of two parts. The first part was posted on Thursday, August 28, 2014 and is available here. The first part talks about the stock and the second part talks about the stock price.
Couche-Tard is the largest convenience store operator in North America with over 4,600 company-operated stores. In Europe, with over 1,600 company-operated sites, Couche-Tard is a leader in c-store and road transportation fuel in Scandinavian and the Baltic States, with a growing presence in Poland. Its web site is here Alimentation Couche-Tard.
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. Follow me on Twitter or StockTwits.
Thursday, August 28, 2014
Alimentation Couche-Tard Inc.
I do not own this stock of Alimentation Couche-Tard Inc. (TSX-ATD.B, OTC-ANCUF), but I used to. In 2004 I bought this stock as it has a good reputation and my spreadsheet showed I should do well with it. I bought more of this stock in 2006 as it had started to pay a dividend. I sold the stock in my trading account in 2007 as I was raising mortgage money and this stock had gone down so was cheap, tax wise, to sell. In 2013, I sold the stock in my Pension account as it had the lowest dividend yield and I had to raise money in this account because of yearly withdrawals.
This stock started to pay a dividend 2006. The dividend yield is very low, with current dividend at 0.49% and the 5 year median dividend at 0.80%. The dividend growth is quite good at 21% and 18.6% per year over the past 5 and 7 years.
Because of the low dividend yield it would take quite a while to reach a decent yield on an original investment. With the current dividend yield and dividends increasing at 20% per year, after 10 years the yield on an investment today would only be 3%. After 20 years, the yield on an investment today would be paying a yield of 18.7%. I generally do not buy stock which has a dividend yield below 1%.
The dividend payout ratios are very low. The 5 year median DPR for EPS is at 9.6% and for CFPS is at 5.1%. The DPR for the financial year ending in April 2014 was 7.7% for EPS and 4.7% for CFPS.
Over all this company produced a total return of 15.28% per year for me. The portion of this total return attributable to dividends was 0.52% per year and the portion attributable to capital gain was 14.76% per year. Over the past 5 and 10 years the total return for shareholders has been 37.24% and 19.20% per year. The portion of this total return attributable to dividends was 0.79% and .48% per year over these periods. The portion of this total return attributable to capital gain was 36.45% and 18.72% per year over these periods.
The number of outstanding shares has not changed over the past 5 and 10 years. Shares have increased due to Stock Options and Share Issues and they have decreased due to Buy Backs. There have also been some conversions of Class A shares into Class B shares. There has been great growth in Revenue, Earnings and Cash Flow. Since 2006, this company has been reporting in US$ and growth has been better in US$ terms than in CDN$ terms.
Revenue per Share is up by 17.3% and 22.3% per year over the past 5 and 10 years in CDN$ terms. Revenue per Share is up by 19.1% and 24.9% per year over the past 5 and 10 years in US$ terms.
Earnings are up by 25.3% and 27.3% per year over the past 5 and 10 years in CDN$ terms. Cash Flow per Share is up by 20.8% and 25.6% per year over the past 5 and 10 years in CDN$ terms.
The Return on Equity has been over 10% each year over the past 10 years. The ROE for the financial year ending in April 2014 was at 20.4% and the 5 year median ROE is at 19.1%. The ROE on comprehensive income for the financial year ending in April 214 was 20.4% and the 5 year median ROE is 21.2%.
The debt ratios are fine. The current Liquidity Ratio is 1.21. However, if you add in cash flow after dividends it is 1.72. The current Debt Ratio is 1.61. The current Leverage and Debt/Equity Ratios are 2.65 and 1.65.
Sound bit for Twitter and StockTwits is: Dividend Growth Stock, Low Yield. Currently I have no plans to buy any of this stock, but I will continue to track it as it is a Dividend Growth Stock and I might be interested in it in the future. See my spreadsheet at atd.htm.
This is the first of two parts. The second part will be posted on Friday, August 29, 2014 and will be available here. The first part talks about the stock and the second part talks about the stock price.
Couche-Tard is the largest convenience store operator in North America with over 4,600 company-operated stores. In Europe, with over 1,600 company-operated sites, Couche-Tard is a leader in c-store and road transportation fuel in Scandinavian and the Baltic States, with a growing presence in Poland. Its web site is here Alimentation Couche-Tard.
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. Follow me on Twitter or StockTwits.
This stock started to pay a dividend 2006. The dividend yield is very low, with current dividend at 0.49% and the 5 year median dividend at 0.80%. The dividend growth is quite good at 21% and 18.6% per year over the past 5 and 7 years.
Because of the low dividend yield it would take quite a while to reach a decent yield on an original investment. With the current dividend yield and dividends increasing at 20% per year, after 10 years the yield on an investment today would only be 3%. After 20 years, the yield on an investment today would be paying a yield of 18.7%. I generally do not buy stock which has a dividend yield below 1%.
The dividend payout ratios are very low. The 5 year median DPR for EPS is at 9.6% and for CFPS is at 5.1%. The DPR for the financial year ending in April 2014 was 7.7% for EPS and 4.7% for CFPS.
Over all this company produced a total return of 15.28% per year for me. The portion of this total return attributable to dividends was 0.52% per year and the portion attributable to capital gain was 14.76% per year. Over the past 5 and 10 years the total return for shareholders has been 37.24% and 19.20% per year. The portion of this total return attributable to dividends was 0.79% and .48% per year over these periods. The portion of this total return attributable to capital gain was 36.45% and 18.72% per year over these periods.
The number of outstanding shares has not changed over the past 5 and 10 years. Shares have increased due to Stock Options and Share Issues and they have decreased due to Buy Backs. There have also been some conversions of Class A shares into Class B shares. There has been great growth in Revenue, Earnings and Cash Flow. Since 2006, this company has been reporting in US$ and growth has been better in US$ terms than in CDN$ terms.
Revenue per Share is up by 17.3% and 22.3% per year over the past 5 and 10 years in CDN$ terms. Revenue per Share is up by 19.1% and 24.9% per year over the past 5 and 10 years in US$ terms.
Earnings are up by 25.3% and 27.3% per year over the past 5 and 10 years in CDN$ terms. Cash Flow per Share is up by 20.8% and 25.6% per year over the past 5 and 10 years in CDN$ terms.
The Return on Equity has been over 10% each year over the past 10 years. The ROE for the financial year ending in April 2014 was at 20.4% and the 5 year median ROE is at 19.1%. The ROE on comprehensive income for the financial year ending in April 214 was 20.4% and the 5 year median ROE is 21.2%.
The debt ratios are fine. The current Liquidity Ratio is 1.21. However, if you add in cash flow after dividends it is 1.72. The current Debt Ratio is 1.61. The current Leverage and Debt/Equity Ratios are 2.65 and 1.65.
Sound bit for Twitter and StockTwits is: Dividend Growth Stock, Low Yield. Currently I have no plans to buy any of this stock, but I will continue to track it as it is a Dividend Growth Stock and I might be interested in it in the future. See my spreadsheet at atd.htm.
This is the first of two parts. The second part will be posted on Friday, August 29, 2014 and will be available here. The first part talks about the stock and the second part talks about the stock price.
Couche-Tard is the largest convenience store operator in North America with over 4,600 company-operated stores. In Europe, with over 1,600 company-operated sites, Couche-Tard is a leader in c-store and road transportation fuel in Scandinavian and the Baltic States, with a growing presence in Poland. Its web site is here Alimentation Couche-Tard.
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. Follow me on Twitter or StockTwits.
Wednesday, August 27, 2014
Evertz Technologies 2
On my other blog I am today writing about dividend stocks and safety continue...
I own this stock of Evertz Technologies (TSX-ET, OTC-EVTZF). I got the idea to investigate this stock from a G&M Article. It looked like something I might want to try out. This stock also came up in a stock screen filter that was looking for reliable dividend payers. That is companies that have reliable profits big enough to comfortably cover their dividend payments. It has high dividends and is probably riskier than average.
When I look at insider trading, I find $0.5M of insider selling and no insider buying. Insider selling is only 0.04% of the stock's market cap and therefore a very small amount. Outstanding shares were increased by 681,200 shares for stock options in the financial year ending April 2014. This is almost 1% of the outstanding shares of the company. It is a little high. About the same thing happened for the financial year ending in April 2013.
There is insider ownership with the CEO owning shares worth around $394M and the chairman owning shares worth around $394M. Insiders own around 70% of the outstanding shares.
The 5 year low, median and high median Price/Earnings per Share Ratios are 13.92, 17.70 and 20.48. The 10 year corresponding P/E Ratios are similar. The current P/E Ratio is 17.84 based on a stock price of $17.30 and 2015 earnings estimates of $0.97. This stock price test suggests that the stock price is relatively reasonable.
I get a Graham Price of $9.90. The 10 year low, median and high median Price/Graham Price Ratios are 1.35, 1.67 and 1.99. The current P/GP Ratio is 1.75. This stock price test suggests that the stock price is relatively reasonable.
I get a 10 year Price/Book Value per Share Ratio of 3.58 and the current P/B Ratio is 3.86 a value some 4% higher. This stock price test suggests that the stock price is relatively reasonable.
I get a 5 year median dividend yield of 3.21% and the current dividend yield at 3.70 is some 15% higher. This is a good sign. This stock price test suggests that the stock price is relatively reasonable. (The current one would have to be 20% higher or more for the stock to be cheap.)
The historical average dividend yield is 2.89% and the historical median dividend yield is 2.29% and both these are signaling that the stock price is cheap as they are more than 20% lower than the current dividend yield. (However, do not forget that for this stock there is only 6 years of data to deal with.)
When I look at analysts' recommendations, I get Strong Buy, Buy and Hold recommendations. The consensus recommendation is a Buy. The 12 month consensus stock price is $19.50. This implies a total return of 16.42% with 3.70% from dividends and 12.72% from capital gains.
There is an interesting article from Alpha Now about the use of Evertz technologies in the world cup broadcasts. The Street site said that Evertz Technologies is in the top 25 Dividend stocks in an April 2013 item by Jim Cramer.
Sound bit for Twitter and StockTwits is: stock price is reasonable to cheap. Although I have not invested much in this company, I am pleased with this investment. I will probably invest more in this company, but since I am living off my dividends, I generally do not have much money for new investments. See my spreadsheet at et.htm.
This is the second of two parts. The first part was posted on Tuesday, August 26, 2014 and is available here. The first part talks about the stock and the second part talks about the stock price.
Evertz Technologies Limited designs, manufactures and markets video and audio infrastructure equipment for the production, post production, broadcast and internet protocol television ("IPTV") industry. Its web site is here Evertz.
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. Follow me on Twitter or StockTwits.
I own this stock of Evertz Technologies (TSX-ET, OTC-EVTZF). I got the idea to investigate this stock from a G&M Article. It looked like something I might want to try out. This stock also came up in a stock screen filter that was looking for reliable dividend payers. That is companies that have reliable profits big enough to comfortably cover their dividend payments. It has high dividends and is probably riskier than average.
When I look at insider trading, I find $0.5M of insider selling and no insider buying. Insider selling is only 0.04% of the stock's market cap and therefore a very small amount. Outstanding shares were increased by 681,200 shares for stock options in the financial year ending April 2014. This is almost 1% of the outstanding shares of the company. It is a little high. About the same thing happened for the financial year ending in April 2013.
There is insider ownership with the CEO owning shares worth around $394M and the chairman owning shares worth around $394M. Insiders own around 70% of the outstanding shares.
The 5 year low, median and high median Price/Earnings per Share Ratios are 13.92, 17.70 and 20.48. The 10 year corresponding P/E Ratios are similar. The current P/E Ratio is 17.84 based on a stock price of $17.30 and 2015 earnings estimates of $0.97. This stock price test suggests that the stock price is relatively reasonable.
I get a Graham Price of $9.90. The 10 year low, median and high median Price/Graham Price Ratios are 1.35, 1.67 and 1.99. The current P/GP Ratio is 1.75. This stock price test suggests that the stock price is relatively reasonable.
I get a 10 year Price/Book Value per Share Ratio of 3.58 and the current P/B Ratio is 3.86 a value some 4% higher. This stock price test suggests that the stock price is relatively reasonable.
I get a 5 year median dividend yield of 3.21% and the current dividend yield at 3.70 is some 15% higher. This is a good sign. This stock price test suggests that the stock price is relatively reasonable. (The current one would have to be 20% higher or more for the stock to be cheap.)
The historical average dividend yield is 2.89% and the historical median dividend yield is 2.29% and both these are signaling that the stock price is cheap as they are more than 20% lower than the current dividend yield. (However, do not forget that for this stock there is only 6 years of data to deal with.)
When I look at analysts' recommendations, I get Strong Buy, Buy and Hold recommendations. The consensus recommendation is a Buy. The 12 month consensus stock price is $19.50. This implies a total return of 16.42% with 3.70% from dividends and 12.72% from capital gains.
There is an interesting article from Alpha Now about the use of Evertz technologies in the world cup broadcasts. The Street site said that Evertz Technologies is in the top 25 Dividend stocks in an April 2013 item by Jim Cramer.
Sound bit for Twitter and StockTwits is: stock price is reasonable to cheap. Although I have not invested much in this company, I am pleased with this investment. I will probably invest more in this company, but since I am living off my dividends, I generally do not have much money for new investments. See my spreadsheet at et.htm.
This is the second of two parts. The first part was posted on Tuesday, August 26, 2014 and is available here. The first part talks about the stock and the second part talks about the stock price.
Evertz Technologies Limited designs, manufactures and markets video and audio infrastructure equipment for the production, post production, broadcast and internet protocol television ("IPTV") industry. Its web site is here Evertz.
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. Follow me on Twitter or StockTwits.
Tuesday, August 26, 2014
Evertz Technologies
I own this stock of Evertz Technologies (TSX-ET, OTC-EVTZF). I got idea to investigate this stock from a G&M Article. It looked like something I might want to try out. This stock came up in a stock screen filter that was looking for reliable dividend payers. That is companies that have reliable profits big enough to comfortably cover their dividend payments. It has high dividends and is probably riskier than average. The company also has a large amount of insider ownership.
First of all, this company declared a special dividend in 2014 which was twice more the normal dividend. You can review the press release here. Basically they had excess cash so they paid a special dividend.
The company was founded in 1996 and went public in 2006 and started to pay dividends in 2008. The dividend is good and the dividend growth is strong. The current dividend is 3.70%, the 5 year median dividend is 3.21% and the dividend has grown at the rate of 17.2% and 21.4% over the past 5 and 6 years.
The most recent increase was for 14.3% in 2013 and so far there has been no increase in 2014. However the financial year end is at the end of April each year. Since dividend started in 2008 they have increased every year. However, analysts do not seem to suggest that dividend will increase this year or next.
Since buying this stock in 2011, I have made a return of 19.60% per year with 11.82% per year from capital gains and 7.78% per year from dividends. The 5 and 8 year total return on this stock is at 10.31% and 6.79% per year. The portion of this return attributable to dividends is at 5.22% and 3.73% per year. The portion of this return attributable to capital gain is at 5.09% and 3.05% per year.
The outstanding shares have not increased over the past 5 year and have increased by 1.53% over the past 9 years. Shares have increased due to Stock Options and have decreased due to Buy Backs. There is growth in revenues, earnings and cash flow but growth has been uneven.
However, Revenue per share has grown at 7.25% and 17.43% per year when looking at 5 year running averages over the past 5 and 8 years. EPS is up by 2.1% and 17.2% per year when using 5 year running averages over the past 5 and 7 years. Cash Flow per Share has grown by 4.9% per year over the past 5 years using 5 year running averages. CFPS share has grown by 40% per year over the past 9 years.
Debt ratios are quite good. The Liquidity Ratio is 5.80, the Debt Ratio is 6.19 and the Leverage and Debt/Equity Ratios are at 1.19 and 0.19.
The Return on Equity has been higher than 10% for all financial years. The ROE for the financial year ending in April 2014 is 19.1% and the 5 year median ROE is at 19.7%. The ROE on comprehensive income is at 20.3% for the financial year ending in April 2014 and the 5 year median ROE is at 19.7%.
Sound bit for Twitter and StockTwits is: Dividend growth tech stock. I am pleased with my investment in this stock. However, it is a tech stock, so I will be keeping my eye on it. See my spreadsheet at et.htm.
This is the first of two parts. The second part will be posted on Wednesday, August 27, 2014 and will be available here. The first part talks about the stock and the second part talks about the stock price.
Evertz Technologies Limited designs, manufactures and markets video and audio infrastructure equipment for the production, post production, broadcast and internet protocol television ("IPTV") industry. Its web site is here Evertz.
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. Follow me on Twitter or StockTwits.
First of all, this company declared a special dividend in 2014 which was twice more the normal dividend. You can review the press release here. Basically they had excess cash so they paid a special dividend.
The company was founded in 1996 and went public in 2006 and started to pay dividends in 2008. The dividend is good and the dividend growth is strong. The current dividend is 3.70%, the 5 year median dividend is 3.21% and the dividend has grown at the rate of 17.2% and 21.4% over the past 5 and 6 years.
The most recent increase was for 14.3% in 2013 and so far there has been no increase in 2014. However the financial year end is at the end of April each year. Since dividend started in 2008 they have increased every year. However, analysts do not seem to suggest that dividend will increase this year or next.
Since buying this stock in 2011, I have made a return of 19.60% per year with 11.82% per year from capital gains and 7.78% per year from dividends. The 5 and 8 year total return on this stock is at 10.31% and 6.79% per year. The portion of this return attributable to dividends is at 5.22% and 3.73% per year. The portion of this return attributable to capital gain is at 5.09% and 3.05% per year.
The outstanding shares have not increased over the past 5 year and have increased by 1.53% over the past 9 years. Shares have increased due to Stock Options and have decreased due to Buy Backs. There is growth in revenues, earnings and cash flow but growth has been uneven.
However, Revenue per share has grown at 7.25% and 17.43% per year when looking at 5 year running averages over the past 5 and 8 years. EPS is up by 2.1% and 17.2% per year when using 5 year running averages over the past 5 and 7 years. Cash Flow per Share has grown by 4.9% per year over the past 5 years using 5 year running averages. CFPS share has grown by 40% per year over the past 9 years.
Debt ratios are quite good. The Liquidity Ratio is 5.80, the Debt Ratio is 6.19 and the Leverage and Debt/Equity Ratios are at 1.19 and 0.19.
The Return on Equity has been higher than 10% for all financial years. The ROE for the financial year ending in April 2014 is 19.1% and the 5 year median ROE is at 19.7%. The ROE on comprehensive income is at 20.3% for the financial year ending in April 2014 and the 5 year median ROE is at 19.7%.
Sound bit for Twitter and StockTwits is: Dividend growth tech stock. I am pleased with my investment in this stock. However, it is a tech stock, so I will be keeping my eye on it. See my spreadsheet at et.htm.
This is the first of two parts. The second part will be posted on Wednesday, August 27, 2014 and will be available here. The first part talks about the stock and the second part talks about the stock price.
Evertz Technologies Limited designs, manufactures and markets video and audio infrastructure equipment for the production, post production, broadcast and internet protocol television ("IPTV") industry. Its web site is here Evertz.
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. Follow me on Twitter or StockTwits.
Monday, August 25, 2014
Superior Plus Corp.
On my other blog I am today writing about investigating stocks, mutual funds and ETFs continue...
I do not own this stock of Superior Plus Corp. (TSX-SPB, OTC-SUUIF). I started to follow this stock as it was an income trust company that was talked about in the Money Reporter from MPL Communications. This company changed to a corporation from Unit Trust (TSX-SPF.UN) in 2009. It has started out as an income trust in 1996.
As far as I can see the dividends (or distributions) hit a high in 1999, 2004 and 2008. After each high, dividends were cut. From 2008 to 2011 dividends were level. Dividends were again cut in 2012 and have been level ever since. The 5 and 10 year decline in dividends is at 18% and 12.5% per year.
Although the dividend yield has often been quite high on this stock, this is not the sort of stock I like. Yes, I understand that companies that go from income trusts to corporations have cut dividends and that is fine with me. The problem with this company is that is not the only time it has cut dividends. Current dividend is 4.09%.
The 5 and 10 year total return is at 6.73% for the last 5 years and a loss of 0.73% over the past 10 years. The portion of the total return attributable to dividends is at 6.61% and 6.14% over these periods. The portion of the total return over the past 5 year attributable to capital gains is 0.12% and the portion of the total return over the past 10 year attributable to capital loss is 6.87%.
The outstanding shares have increase by 7.4% and 6.2% per year over the past 5 and 10 years. The shares have increased due to Share Issues, Stock Options and a DRIP plan. Only revenues have increased over the past 5 and 10 years. Earnings and EPS are down. Cash Flow is growth is good over the past 10 years, but non-existent over the past 5 years.
Revenue is up by 8.6% and 11.8% per year over the past 5 and 10 years. Revenue per share is up by 1.1% and 5.3% per year over these periods. Earnings are down by 4.9% and 8% per year over the past 5 and 10 years. EPS is down by 12.3% and 13.7% per year over these periods.
Cash flow is up strongly over the past 10 years and not at all over the past 5 years. Cash Flow is down by 0.2% per year over the past 5 years and up by 29.5% per year over the past 10 years. CFPS is down by 7.1% per year over the past 5 years and up by 21.9% per year over the past 10 years.
Over the past 10 years there has been 3 years of earnings losses. Otherwise Return on Equity has been above 10% except for 2013 where it was at 9.8%. The ROE on Comprehensive Income was good for 2013 at 18.3%.
The debt ratios are adequate. The current Liquidity Ratio is 1.48. The current Debt Ratio is 1.37. The Leverage and Debt/Equity Ratios are 3.68 and 2.68.
When I look at analysts' recommendations, I find Buy and Hold recommendations. The consensus recommendation is a Buy. The 12 months consensus stock price is $15.20. This implies a total return of 7.19% with 3.12% from capital gains and 4.07% from dividends. The capital gains expected is rather low for a Buy recommendation.
The 5 year low, median and high median Price/Earnings per Share Ratios are 7.18, 9.85 and 12.52. The 10 year corresponding ones are a bit higher at 9.99, 12.44 and 15.35. The current P/E Ratio is 15.52 based on a stock price of $14.74 and 2014 EPS estimate of $0.95. This stock price test suggests that the stock is fully valued. That is the stock is relatively expensive.
I get a Graham Price of $9.62. The P/GP Ratio is 1.53 based on a stock price $14.74. The 10 year low, median and high median P/GP Ratios are 0.87, 1.19 and 1.65. This stock price test suggests that the stock price is relatively reasonable although on the higher end of the reasonableness range.
The 10 year Price/Book Value per Share Ratio is 2.59 and the current P/B Ratio at 3.41 is some 35% higher. This stock price test suggests that the stock price is relatively high.
Sound bit for Twitter and StockTwits is: Variable dividend, expensive stock. See my spreadsheet at spb.htm.
I will have only one entry for this stock as I must do on some stock because I cover too many stocks to do double entries on all that I follow.
Superior Plus Corp. is a group of diversified businesses that operate within three primary divisions. Superior's Energy Services division provides distribution, wholesale procurement and related services in relation to propane, heating oil and other refined fuels throughout Canada and the North Eastern United States. Superior's Specialty Chemicals division is a leading supplier of sodium chlorate and related technology to the pulp and paper sector and a regional Midwest supplier of chloralkali and potassium based products. Superior's Construction Products Distribution division is a leading distributor of walls, ceilings and insulation products to the Canadian and United States construction industry. Its web site is here Superior Plus.
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. Follow me on Twitter or StockTwits.
I do not own this stock of Superior Plus Corp. (TSX-SPB, OTC-SUUIF). I started to follow this stock as it was an income trust company that was talked about in the Money Reporter from MPL Communications. This company changed to a corporation from Unit Trust (TSX-SPF.UN) in 2009. It has started out as an income trust in 1996.
As far as I can see the dividends (or distributions) hit a high in 1999, 2004 and 2008. After each high, dividends were cut. From 2008 to 2011 dividends were level. Dividends were again cut in 2012 and have been level ever since. The 5 and 10 year decline in dividends is at 18% and 12.5% per year.
Although the dividend yield has often been quite high on this stock, this is not the sort of stock I like. Yes, I understand that companies that go from income trusts to corporations have cut dividends and that is fine with me. The problem with this company is that is not the only time it has cut dividends. Current dividend is 4.09%.
The 5 and 10 year total return is at 6.73% for the last 5 years and a loss of 0.73% over the past 10 years. The portion of the total return attributable to dividends is at 6.61% and 6.14% over these periods. The portion of the total return over the past 5 year attributable to capital gains is 0.12% and the portion of the total return over the past 10 year attributable to capital loss is 6.87%.
The outstanding shares have increase by 7.4% and 6.2% per year over the past 5 and 10 years. The shares have increased due to Share Issues, Stock Options and a DRIP plan. Only revenues have increased over the past 5 and 10 years. Earnings and EPS are down. Cash Flow is growth is good over the past 10 years, but non-existent over the past 5 years.
Revenue is up by 8.6% and 11.8% per year over the past 5 and 10 years. Revenue per share is up by 1.1% and 5.3% per year over these periods. Earnings are down by 4.9% and 8% per year over the past 5 and 10 years. EPS is down by 12.3% and 13.7% per year over these periods.
Cash flow is up strongly over the past 10 years and not at all over the past 5 years. Cash Flow is down by 0.2% per year over the past 5 years and up by 29.5% per year over the past 10 years. CFPS is down by 7.1% per year over the past 5 years and up by 21.9% per year over the past 10 years.
Over the past 10 years there has been 3 years of earnings losses. Otherwise Return on Equity has been above 10% except for 2013 where it was at 9.8%. The ROE on Comprehensive Income was good for 2013 at 18.3%.
The debt ratios are adequate. The current Liquidity Ratio is 1.48. The current Debt Ratio is 1.37. The Leverage and Debt/Equity Ratios are 3.68 and 2.68.
When I look at analysts' recommendations, I find Buy and Hold recommendations. The consensus recommendation is a Buy. The 12 months consensus stock price is $15.20. This implies a total return of 7.19% with 3.12% from capital gains and 4.07% from dividends. The capital gains expected is rather low for a Buy recommendation.
The 5 year low, median and high median Price/Earnings per Share Ratios are 7.18, 9.85 and 12.52. The 10 year corresponding ones are a bit higher at 9.99, 12.44 and 15.35. The current P/E Ratio is 15.52 based on a stock price of $14.74 and 2014 EPS estimate of $0.95. This stock price test suggests that the stock is fully valued. That is the stock is relatively expensive.
I get a Graham Price of $9.62. The P/GP Ratio is 1.53 based on a stock price $14.74. The 10 year low, median and high median P/GP Ratios are 0.87, 1.19 and 1.65. This stock price test suggests that the stock price is relatively reasonable although on the higher end of the reasonableness range.
The 10 year Price/Book Value per Share Ratio is 2.59 and the current P/B Ratio at 3.41 is some 35% higher. This stock price test suggests that the stock price is relatively high.
Sound bit for Twitter and StockTwits is: Variable dividend, expensive stock. See my spreadsheet at spb.htm.
I will have only one entry for this stock as I must do on some stock because I cover too many stocks to do double entries on all that I follow.
Superior Plus Corp. is a group of diversified businesses that operate within three primary divisions. Superior's Energy Services division provides distribution, wholesale procurement and related services in relation to propane, heating oil and other refined fuels throughout Canada and the North Eastern United States. Superior's Specialty Chemicals division is a leading supplier of sodium chlorate and related technology to the pulp and paper sector and a regional Midwest supplier of chloralkali and potassium based products. Superior's Construction Products Distribution division is a leading distributor of walls, ceilings and insulation products to the Canadian and United States construction industry. Its web site is here Superior Plus.
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. Follow me on Twitter or StockTwits.
Friday, August 22, 2014
TECSYS Inc. 2
I own this stock of TECSYS Inc. (TSX-TCS, OTC-TCYSF). I came across this stock when I was looking for a dividend paying small cap stock as a filler stock. I consider a filler stock to be one to soak up small amounts of investment money that I have left over in my account, especially in the TFSA after I have made my main purchase for the year.
When I look at insider trading I see $0.4M of insider selling and no insider buying. Insider selling is only 0.48% of market cap of this stock and so is low. There is little in the way of outstanding stock options.
There is insider ownership by the Brereton family with Peter Brereton, CEO owning shares worth around $2.9M, with David Brereton, Chairman owning shares worth around $20.9M and Kathryn Brereton, 10% holder owning shares worth around $7.1M. This family owns around 44% of the outstanding shares.
The 5 year low, median and high median Price/Earnings per Share Ratios are 19.67, 24.56 and 29.44. The current P/E Ratio is 28.38 based on a stock price of $6.81 and April 2015 earnings estimate of $0.24. This stock price test suggests that the stock price is still within a relatively reasonable range, but at the high end of this range. (Note that the 10 year corresponding P/E Ratios are a lot lower than the 5 year ones at 11.24, 13.54 and 16.46.)
I get A Graham Price of $2.79. The 10 year low, median and high median Price/Graham Price Ratios are 0.94, 1.19 and 1.46. The current P/GP Ratio is 2.44 based on a stock price of $6.81. This stock price test suggests that the stock is relatively expensive.
The 10 year Price/Book Value per Share Ratio is 1.47. The current P/B Ratio is 4.73 a value some 222% higher. The current P/B Ratio is based on a current stock price of $6.81 and current BVPS of $1.44. This stock price test suggests that the stock is relatively expensive.
We have not got much to work with on dividend yield, however, the 5 year median dividend yield is 2.64% and the current dividend yield at 1.32% is 50% lower. The historical average dividend yield is 2.70% and the historical median dividend yield is 2.68%. All this suggests that the stock is relatively expensive.
When I look at analysts' recommendations I see Strong Buy and Buy recommendations. The consensus recommendations would be a Strong Buy. The 12 month consensus stock price is $9.00. This implies a total return of 33.48% with 1.32% from dividends and $31.16% from capital gains.
I could see this as a momentum buy. The stock price has been rising since April 2012. Neither it nor the stock market seems to be slowing down yet. This buying, from my perspective, is for capital gains, not long term investment.
Sound bit for Twitter and StockTwits is: Stock price expensive, momentum buy? I think this is a good stock and I will hold on to what I have. However, I do think that currently it is on the expensive side. A P/E Ratio of 28.38 is not all that high, but the P/B Ratio of 4.73 is high. See my spreadsheet at tcs.htm.
This is the second of two parts. The first part was posted on Thursday, August 21, 2014 and is available here. The first part talks about the stock and the second part talks about the stock price.
TECSYS Inc. is a supply chain management software provider that delivers powerful enterprise distribution, warehouse and transportation logistics software solutions. The company's customers include about 600 mid-size and Fortune 1000 corporations in healthcare, heavy equipment, third-party logistics, and general wholesale high- volume distribution industries. Its web site is here TECSYS.
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. Follow me on Twitter or StockTwits.
When I look at insider trading I see $0.4M of insider selling and no insider buying. Insider selling is only 0.48% of market cap of this stock and so is low. There is little in the way of outstanding stock options.
There is insider ownership by the Brereton family with Peter Brereton, CEO owning shares worth around $2.9M, with David Brereton, Chairman owning shares worth around $20.9M and Kathryn Brereton, 10% holder owning shares worth around $7.1M. This family owns around 44% of the outstanding shares.
The 5 year low, median and high median Price/Earnings per Share Ratios are 19.67, 24.56 and 29.44. The current P/E Ratio is 28.38 based on a stock price of $6.81 and April 2015 earnings estimate of $0.24. This stock price test suggests that the stock price is still within a relatively reasonable range, but at the high end of this range. (Note that the 10 year corresponding P/E Ratios are a lot lower than the 5 year ones at 11.24, 13.54 and 16.46.)
I get A Graham Price of $2.79. The 10 year low, median and high median Price/Graham Price Ratios are 0.94, 1.19 and 1.46. The current P/GP Ratio is 2.44 based on a stock price of $6.81. This stock price test suggests that the stock is relatively expensive.
The 10 year Price/Book Value per Share Ratio is 1.47. The current P/B Ratio is 4.73 a value some 222% higher. The current P/B Ratio is based on a current stock price of $6.81 and current BVPS of $1.44. This stock price test suggests that the stock is relatively expensive.
We have not got much to work with on dividend yield, however, the 5 year median dividend yield is 2.64% and the current dividend yield at 1.32% is 50% lower. The historical average dividend yield is 2.70% and the historical median dividend yield is 2.68%. All this suggests that the stock is relatively expensive.
When I look at analysts' recommendations I see Strong Buy and Buy recommendations. The consensus recommendations would be a Strong Buy. The 12 month consensus stock price is $9.00. This implies a total return of 33.48% with 1.32% from dividends and $31.16% from capital gains.
I could see this as a momentum buy. The stock price has been rising since April 2012. Neither it nor the stock market seems to be slowing down yet. This buying, from my perspective, is for capital gains, not long term investment.
Sound bit for Twitter and StockTwits is: Stock price expensive, momentum buy? I think this is a good stock and I will hold on to what I have. However, I do think that currently it is on the expensive side. A P/E Ratio of 28.38 is not all that high, but the P/B Ratio of 4.73 is high. See my spreadsheet at tcs.htm.
This is the second of two parts. The first part was posted on Thursday, August 21, 2014 and is available here. The first part talks about the stock and the second part talks about the stock price.
TECSYS Inc. is a supply chain management software provider that delivers powerful enterprise distribution, warehouse and transportation logistics software solutions. The company's customers include about 600 mid-size and Fortune 1000 corporations in healthcare, heavy equipment, third-party logistics, and general wholesale high- volume distribution industries. Its web site is here TECSYS.
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. Follow me on Twitter or StockTwits.
Thursday, August 21, 2014
TECSYS Inc.
I own this stock of TECSYS Inc. (TSX-TCS, OTC-TCYSF). I came across this stock when I was looking for a dividend paying small cap stock as a filler stock. I consider a filler stock to be one to soak up small amounts of investment money that I have left over in my account, especially in the TFSA after I have made my main purchase for the year.
Dividends were started in 2008 and they have grown at 13.4% and 11% per year over the past 5 and 7 years. The current dividend yield is 1.31% and the 5 year median dividend yield is 2.64%. So the dividends are moderate to low and the increases are moderate. The last dividend increases was in 2014 and it was for 12.5%. At the same time dividends payments were changed from semi-annual to quarterly.
The 5 year median Dividend Payout Ratios for EPS was 47% and for CFPS was at 26.5%. The DPRs for 2014 was at 47% and 22% for EPS and CFPS. (Note that the financial year ends in April each year and the last financial year was for April 2014.)
I bought this stock in 2011 and I have made a total return of 46.65% per year with 43.66% from capital gains and 2.99% from dividends. I have had this stock for under just 3 years. The 5 and 10 year total return for shareholders is at 29.18% and 17.53% per year. The portion of these returns attributed to dividends is at 2.04% and 1.20% per year over these periods. The portion of these returns attributed to capital gains is at 27.14% and 16.33%per year over these periods.
The outstanding shares have decreased by 1.7% and 2% per year over the past 5 and 10 years. Shares have increased for Stock Options and decreased by Buy Backs. There has been growth in revenues, earnings and cash flow and the best growth is over the past 10 years, not the past 5 years.
Revenue growth is at 2.6% and 10.25% per year over the past 5 and 10 years. Revenue per Share is up by 4.3% and 12.5% per year over these periods. Revenue hit a high in 2009 and did not surpass this high until 2013.
Earnings are up by 2.5% and 15.8% per year over the past 5 and 10 years. EPS is up by 5.9% and 18.2% per year over these periods. Earnings hit a high in 2010 and are expected to pass this high in the April 2015 financial year.
Cash Flow up by 10% and 11.6% per year over the past 5 and 10 years. CFPS is up by 11.8% and 12.8% per year over these periods. Cash flows hit a high in 2008 and just pass this high with the financial year of April 2014.
As far as Return on Equity goes, it has been at 10% or above only 3 times in the past 10 years and only twice in the past 5 years. The ROE for the financial year ending April 2014 was 10.8% and the 5 year median is 8.6%. The ROE on comprehensive income is the same as for net income so this suggests that the EPS are of good quality.
There was a lot of earning losses prior to 2008. The company was hit by the last recession and did not return to ROEs above 10% until this year. The ROE is expected to be above 10% also in next year.
The debt ratios are good, but I would like to see the Leverage and Debt/Equity Ratios a bit lower. The Liquidity Ratio is 1.53. The Debt Ratio is 1.95, quite a good value. The Leverage and Debt/Equity Ratios are at 2.06 and 1.06.
Sound bit for Twitter and StockTwits is: Dividend Growth Stock, Tech Small Cap. This stock got hit with hard by the last recessions and revenue, earnings and cash flows fell. The share price also tanked and that is why I have done so well in this stock. I got it at a rather cheap price. See my spreadsheet at tcs.htm.
This is the first of two parts. The second part will be posted on Friday, August 22, 2014 and will be available here. The first part talks about the stock and the second part talks about the stock price.
TECSYS Inc. is a supply chain management software provider that delivers powerful enterprise distribution, warehouse and transportation logistics software solutions. The company's customers include about 600 mid-size and Fortune 1000 corporations in healthcare, heavy equipment, third-party logistics, and general wholesale high- volume distribution industries. Its web site is here TECSYS.
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. Follow me on Twitter or StockTwits.
Dividends were started in 2008 and they have grown at 13.4% and 11% per year over the past 5 and 7 years. The current dividend yield is 1.31% and the 5 year median dividend yield is 2.64%. So the dividends are moderate to low and the increases are moderate. The last dividend increases was in 2014 and it was for 12.5%. At the same time dividends payments were changed from semi-annual to quarterly.
The 5 year median Dividend Payout Ratios for EPS was 47% and for CFPS was at 26.5%. The DPRs for 2014 was at 47% and 22% for EPS and CFPS. (Note that the financial year ends in April each year and the last financial year was for April 2014.)
I bought this stock in 2011 and I have made a total return of 46.65% per year with 43.66% from capital gains and 2.99% from dividends. I have had this stock for under just 3 years. The 5 and 10 year total return for shareholders is at 29.18% and 17.53% per year. The portion of these returns attributed to dividends is at 2.04% and 1.20% per year over these periods. The portion of these returns attributed to capital gains is at 27.14% and 16.33%per year over these periods.
The outstanding shares have decreased by 1.7% and 2% per year over the past 5 and 10 years. Shares have increased for Stock Options and decreased by Buy Backs. There has been growth in revenues, earnings and cash flow and the best growth is over the past 10 years, not the past 5 years.
Revenue growth is at 2.6% and 10.25% per year over the past 5 and 10 years. Revenue per Share is up by 4.3% and 12.5% per year over these periods. Revenue hit a high in 2009 and did not surpass this high until 2013.
Earnings are up by 2.5% and 15.8% per year over the past 5 and 10 years. EPS is up by 5.9% and 18.2% per year over these periods. Earnings hit a high in 2010 and are expected to pass this high in the April 2015 financial year.
Cash Flow up by 10% and 11.6% per year over the past 5 and 10 years. CFPS is up by 11.8% and 12.8% per year over these periods. Cash flows hit a high in 2008 and just pass this high with the financial year of April 2014.
As far as Return on Equity goes, it has been at 10% or above only 3 times in the past 10 years and only twice in the past 5 years. The ROE for the financial year ending April 2014 was 10.8% and the 5 year median is 8.6%. The ROE on comprehensive income is the same as for net income so this suggests that the EPS are of good quality.
There was a lot of earning losses prior to 2008. The company was hit by the last recession and did not return to ROEs above 10% until this year. The ROE is expected to be above 10% also in next year.
The debt ratios are good, but I would like to see the Leverage and Debt/Equity Ratios a bit lower. The Liquidity Ratio is 1.53. The Debt Ratio is 1.95, quite a good value. The Leverage and Debt/Equity Ratios are at 2.06 and 1.06.
Sound bit for Twitter and StockTwits is: Dividend Growth Stock, Tech Small Cap. This stock got hit with hard by the last recessions and revenue, earnings and cash flows fell. The share price also tanked and that is why I have done so well in this stock. I got it at a rather cheap price. See my spreadsheet at tcs.htm.
This is the first of two parts. The second part will be posted on Friday, August 22, 2014 and will be available here. The first part talks about the stock and the second part talks about the stock price.
TECSYS Inc. is a supply chain management software provider that delivers powerful enterprise distribution, warehouse and transportation logistics software solutions. The company's customers include about 600 mid-size and Fortune 1000 corporations in healthcare, heavy equipment, third-party logistics, and general wholesale high- volume distribution industries. Its web site is here TECSYS.
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. Follow me on Twitter or StockTwits.
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