Barclays PLC ADR

Sound bite for Twitter and StockTwits is: Dividend Growth Bank. Results of stock price testing is that the stock price is probably reasonable. Debt Ratios are fine. The Dividend Payout Ratios (DPR) are fine. The current dividend yield is moderate with dividend growth currently moderate. See my spreadsheet on Barclays PLC ADR.

Is it a good company at a reasonable price? Some international banks have had a hard time since 2008 as this one did. This bank seems to be recovering. The stock price on this stock seems to be reasonable at this time.

I do not own this stock of Barclays PLC ADR (LSE-BARC, NYSE-BCS), but I used to. I bought this stock when Barrett took over in 2000. Barrett used to run Bank of Montreal in Canada. At that time, it was a good dividend paying stock and I thought it would give me some geographical diversifications. I sold it in 2017 as I had lost faith in this bank making me any money. At that time, I had a total return of 1.25% with a capital loss of 4.92% and dividends of 6.17. I had had the stock for almost 18 years.

When I was updating my spreadsheet, I noticed that to do an analysis of this ADR from the US market, I have to use 3 currencies, CDN$, US$ and UK£. So, this is complex. I will not, in the future, buy foreign companies. I will certainly not buy any ADRs in the future because analysis is complex.

I did build my initial portfolio with US and foreign stock as well as Canadian stocks. I also built it from mutual funds which were some of my first investments. I will not go back to US and foreign stock now, just as I will not go back to mutual funds. I belong to a number of investments clubs and certainly, the majority of people in these clubs buy US stocks as well as Canadian stocks.

Because I was dealing in the 3 currencies, I thought it would be interesting to look at the 10 year return in all 3 currencies. This is what my spreadsheet is showing me. According to my spreadsheet, the US$ has gone up by 2.2% per year compared to the CDN$, the UK£ has gone down 2.6% per year against the US$, and the UK£ has gone down 0.46% per year against the CDN$

If you had invested in this company in December 2013, for $1,002.73 you would have bought 52 shares at $19.28 per share. In December 2023, after 10 years you would have received $181.89 in dividends. The stock would be worth $541.95. Your total return would have been $723.84. This would be a total loss of 3.59% per year with 5.97% from capital loss and 2.38% from dividends. This is CDN$.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$19.28	$1,002.72	52	10	$181.89	$541.95	$723.84

If you had invested in this company in December 2013, for $1,015.28 you would have bought 56 shares at $18.13 per share. In December 2023, after 10 years you would have received $136.40 in dividends. The stock would be worth $441.28. Your total return would have been $577.68. This would be a total loss of 6.08% per year with 7.99% from capital loss and 1.98% from dividends. This is US$

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$18.13	$1,015.28	56	10	$136.40	$441.28	$577.68

If you had invested in this company in December 2013, for £1,000.36you would have bought 369 shares at £2.71per share. In December 2023, after 10 years you would have received £180.63 in dividends. The stock would be worth £567.45. Your total return would have been £748.07. This would be a total loss of 3.18% per year with 5.51% from capital loss and 2.33% from dividends. This is UK£.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
£2.71	£1,000.36	369	10	£180.63	£567.45	£748.07

The current dividend yield is moderate with dividend growth currently moderate. The current dividend yield is moderate (2% to 4%) at 3.90% based on the price of BARC on the London Exchange. The 5, 10 and historical dividend yields are also moderate at 3.54%, 2.81% and 3.39%.

Over the past 5 years, the dividend growth is 11.25% per year. The last dividend increase was in 2024 and was for 6%. This bank pays out two dividends in a year, a bigger dividend in the first part of the year based on the previous years result and a smaller dividend near the end of each year. Also, dividend growth is good for last 5 years but this was after dividends were cut. Dividend growth for the past is very low to negative. See Total Return paragraph below.

The Dividend Payout Ratios (DPR) are fine. The DPR for 2023 for Earnings per Share (EPS) is good at 28% with 5 year coverage at 21%. The DPR for 2023 for Cash Flow per Share (CFPS) is not calculable because of negative cash flow with 5 year coverage good at 1.9%. The DPR for 2023 for Free Cash Flow (FCF) is not calculable due to negative FCF with 5 year coverage good at 4.4%.

Item	Cur	5 Years
EPS	28.62%	20.70%
CFPS	0.00%	1.93%
FCF	-45.96%	4.42%

Debt Ratios are fine. The Long Term Debt/Covering Assets Ratio for 2023 is good at 0.74. This is the important ratios rather than the Long Term Debt/Market Cap Ratio. The Liquidity Ratio does not apply to banks. The Debt Ratio for 2023 is fine for a bank at 1.05.

Type	Year End	Ratio Curr
Lg Term R+A	0.74	0.74
Lg Term R	23.12	17.34
Intang/GW	0.25	0.25
Debt Ratio	1.05	1.05

The Total Return per year is shown below for years of 5 to 30 to the end of 2023 in. UK£. Under the Capital Gain column is the portion of the Total Return attributable to capital gains. Under the Dividend column is the portion of the Total Return attributable to dividends. See chart below.

From	Years	Div. Gth	Tot Ret	Cap Gain	Div.
2018	5	11.34%	3.55%	0.43%	3.12%
2013	10	1.71%	-3.18%	-5.51%	2.33%
2008	15	-9.43%	3.16%	0.02%	3.15%
2003	20	-4.78%	-2.27%	-5.69%	3.42%
1998	25	-1.33%	2.42%	-2.96%	5.38%
1993	30	2.38%	8.49%	0.15%	8.34%

The Total Return per year is shown below for years of 5 to 30 to the end of 2023 in. US$. Under the Capital Gain column is the portion of the Total Return attributable to capital gains. Under the Dividend column is the portion of the Total Return attributable to dividends. See chart below.

From	Years	Div. Gth	Tot Ret	Cap Gain	Div.
2018	5	11.25%	3.92%	0.89%	3.04%
2013	10	-0.94%	-5.93%	-7.99%	2.06%
2008	15	-10.26%	1.65%	-1.44%	3.10%
2003	20	-5.80%	-4.03%	-7.36%	3.33%
1998	25	-2.29%	1.40%	-4.11%	5.51%
1993	29	1.84%	9.14%	-0.33%	9.47%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 4.56, 6.31 and 8.42. The corresponding 10 year ratios are 4.38, 6.00 and 7.62. The corresponding historical ratios are 8.04, 9.98 and 12.51. The current P/E Ratio is 6.88 based on a stock price of $10.37 and EPS estimate for 2024 of $1.51. This ratio is between the median and high ratios of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable but above the median. This testing is in US$.

The 5-year low, median, and high median Price/Earnings per Share Ratios are 4.80, 5.93, 7.29. The corresponding 10 year ratios are 4.68, 5.92, and 7.17. The corresponding historical ratios are 7.11, 10.04 and 11.59. The current P/E Ratio is 6.75 based on a stock price of £2.05 and EPS estimate for 2024 of £0.304. This ratio is between the median and high ratios of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable but above the median. This testing is in UK£.

I get a Graham Price of £5.11. The 10-year low, median, and high median Price/Graham Price Ratios are 0.44, 0.59 and 0.79. The current P/GP Ratio is 0.40 based on a stock price of £2.05. This ratio is below the low ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively cheap. This testing is in UK£.

I get a 10-year median Price/Book Value per Share Ratio of 0.53. The current P/B Ratio is 0.54 based on a stock price of £2.05, Book Value of £57,920 and Book Value per Share of £3.82. The current ratio is 1.9% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable but above the median. This testing is in UK£.

I also have an estimate for the Book Value per Share for 2024 of £4.20. This analyst calculates the Book Value differently than I do, and their 10 year median ratios would be 0.43. The BVPS estimate of £4.20 implies a ratio of 0.49 with a stock price of £2.05 and Book Value of £63,651. This ratio is 12% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable but above the median. This testing is in UK£.

I get an historical median dividend yield of 3.39%. The current dividend yield is 3.90% based on dividends of £0.08 and a stock price of £2.05. The current dividend yield is 15% above the historical median dividend yield. This stock price testing suggests that the stock price is relatively reasonable and below the median. This testing is in UK£. I get a 10 year median dividend yield of 2.53%. The current dividend yield is 3.90% based on dividends of £0.08 and a stock price of £2.05. The current dividend yield is 45% above the 10 year median dividend yield. This stock price testing suggests that the stock price is relatively cheap. This testing is in UK£.

The 10-year median Price/Sales (Revenue) Ratio is 1.38. The current ratio is 1.20 based on Revenue estimate for 2024 of £25,946M, Revenue per Share of £1.71 and a stock price of £2.05. The current ratio is 13% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median. This testing is in UK£.

Results of stock price testing is that the stock price is probably reasonable. The 10 year median dividend yield testing is showing the stock price as cheap. However, dividends lately have been going down as well as up, so I wonder how good this test is. The P/S Ratio testing is showing the stock price as reasonable. Most of the rest of the testing is showing the stock price as reasonable and above and below the median. I am doing most of the testing in UK£ as this is a UK company reporting in UK£.

When I look at analysts’ recommendations, I find Strong Buy (9), Buy (6), Hold (2) and Underperform (1). The consensus would be a Strong Buy. The 12 months stock price consensus is £2.455 with a high of £3.30 and a low of £1.881. The consensus stock price of £2.455 implies a total return of 23.66% with 19.76% from capital gains and 3.90% from dividends.

The last entries on Stock Chase is in 2021 and they are a buy and a sell. Stock Chase gives this stock 1 star out of 5. Alan Oscroft on Motley Fool thinks that this stock, along with the rest of the UK Bank Sector will be erratic for a while yet. Jesse Williamson on Motley Fool thinks now is a good time to buy this stock. This bank put out a press release via CNBC about their 2023 results.

Simply Wall Street via Yahoo Finance reviews this stock. Simply Wall Street gives this stock 3 and one half stars out of 5. They have one warning of unstable dividend track record.

Barclays PLC is a major global banking and financial services company. With 325 years of expertise in banking, and operating through an international network in many countries and regions in Europe, the U.S., Africa & Asia, the company provides a wide range of financial services to individuals, corporations, and institutions. Its web site is here Barclays PLC ADR.

The last stock I wrote about was about was Canadian Natural Resources (TSX-CNQ, NYSE-CNQ) ... learn more. The next stock I will write about will be AtkinsRealis (TSX-ATRL, OTC-SNCAF) ... learn more on Monday, April 29, 2024 around 5 pm.

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

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

Canadian Natural Resources

Sound bite for Twitter and StockTwits is: Dividend Growth Resources. Results of stock price testing is that the stock price is probably on the expensive side, but could still be reasonable. Debt Ratios are fine. The Dividend Payout Ratios (DPR) are good. The current dividend yield is moderate with dividend growth good. See my spreadsheet on Canadian Natural Resources.

Is it a good company at a reasonable price? This is a resource stock and so would be cyclical. Lately the stock price has been climbing and it is probably at its high point ever. It is risky because it is into oil and gas explorations. Because it is a resource stock, I do not have much invested. Oil and gas are a big part of the TSX, so I do keep an eye on this sector. The 10 year dividend yield tests say the stock price is reasonable, but all other testing is saying the stock price is relatively expensive. With the P/E Ratio and P/AEPS Ratio testing, the ratios are very low ones. I am not going to sell any of my shares, but neither will I buy any more.

I own this stock of Canadian Natural Resources (TSX-CNQ, NYSE-CNQ). I first bought CNQ in September 2012 because the dividend yield was relatively high. The 5 and 10 year median dividend yields were 0.73% and 0.75%. The current one was at 1.31% and I got it with a yield of 1.32%. In April 2013 I bought more shares of this stock because the yield is now at 1.54%. I bought another 100 shares in 2020 because the yield was 11.63%.

When I was updating my spreadsheet, I noticed this stock’s price has been climbing lately. I have done well with this stock. I have had it for 12 years and have a total return of 17.07% with 13.81% from capital gains and 3.26% from dividends. I have this stock to track oil stocks. They are a large part of the TSX.

There seems to be a lot of insiders selling going on. A lot of it has to do people not taking up options. However, with the change in President, the old President sold all his shares. There is also some selling with a director I am following and he has been selling shares over the past few years. There has always been lots of insider selling showing and mostly has to do with people not taking up options as far as I can see.

If you had invested in this company in December 2013, for $1,006.32 you would have bought 28 shares at $13.94 per share. In December 2023, after 10 years you would have received $503.51 in dividends. The stock would be worth $2,267.72. Your total return would have been $2,771.25. This would be a total return of 11.54% per year with 8.46% from capital gain and 3.08% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$35.94	$1,006.32	28	10	$503.51	$2,267.72	$2,771.23

The current dividend yield is moderate with dividend growth good. The current dividend yield is moderate (2% to 4% ranges) at 3.97%. The 5 and 10 year median dividend yields are also moderate at 4.38% and 3.59%. The historical median dividend yield is low (below 2%) at 1.22%. Dividends were lower than 2% before 2014. The dividend increases are good (15% and higher) at 21.5% per year over the past 5 years. The last dividend increase was in 2024 and it was for 5%. However, this company often increases dividends more than once in a year. Dividends in 2024 are 16.9% higher than in 2023.

The Dividend Payout Ratios (DPR) are good. The DPR for 2023 for Earnings per Share (EPS) is good at 48% with 5 year coverage at 46%. The DPR for 2023 for Adjusted Earnings per Share (AEPS) is good at 46% with 5 year coverage at 46%. The DPR for 2023 for Cash Flow per Share (CFPS) is good at 26% with 5 year coverage at 23%. The DPR for 2023 for Free Cash Flow (FCF) is good at 52% with 5 year coverage at 38%.

Item	Cur	5 Years
EPS	47.52%	46.46%
AEPS	45.87%	46.29%
CFPS	25.78%	23.21%
FCF	52.30%	37.55%

Debt Ratios are fine. The Long Term Debt/Market Cap Ratio for 2023 is good at 0.11 and currently at 0.09. The Liquidity Ratio for 2023 is too low at 0.96. If you added in Cash Flow after dividends, the ratios are fine at 2.11 and currently at 2.36. The Debt Ratio for 2023 is good at 2.10. The Leverage and Debt/Equity Ratios for 2023 are good at 1.91and 0.91.

Type	Year End	Ratio Curr
Lg Term R	0.11	0.09
Intang/GW	0.00	0.00
Liquidity	0.96	0.96
Liq. + CF	2.11	2.36
Debt Ratio	2.10	2.10
Leverage	1.91	1.91
D/E Ratio	0.91	0.91

The Total Return per year is shown below for years of 5 to 33 to the end of 2023. Under the Capital Gain column is the portion of the Total Return attributable to capital gains. Under the Dividend column is the portion of the Total Return attributable to dividends. See chart below.

From	Years	Div. Gth	Tot Ret	Cap Gain	Div.
2018	5	21.51%	24.76%	19.71%	5.04%
2013	10	22.15%	11.54%	8.46%	3.08%
2008	15	21.45%	10.70%	8.33%	2.37%
2003	20	21.53%	14.64%	12.15%	2.49%
1998	25	22.62%	16.71%	14.29%	2.42%
1993	30		14.42%	12.69%	1.73%
1990	33		22.35%	19.61%	2.74%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 6.54, 7.84 and 9.14. The corresponding 10 year ratios are 6.59, 7.90 and 9.22. The corresponding historical ratios are 10.23, 13.56 and 15.70. The current P/E Ratio is 13.94 based on a stock price of $105.84 and EPS estimate for 2024 of $7.60. The current ratio is above the high ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively expensive. Note that these ratios are quite low.

I also have Adjusted Earnings per Share (AEPS) data. The 5-year low, median, and high median Price/Adjusted Earnings per Share Ratios are 5.57, 6.67 and 8.55. The corresponding 10 year ratios are 9.02, 10.91 and 12.66. The current P/AEPS Ratio is 13.87 based on a stock price of $105.84 and AEPS estimate for 2024 of $7.63. The current ratio is above the high ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively expensive. Note that these ratios are quite low.

I also have Adjusted Funds from Operations (AFFO) data. The 5-year low, median, and high median Price/ Adjusted Funds from Operations Ratios are 3.50, 4.34 and 5.05. The corresponding 10 year ratios 3.86, 5.59 and 6.66. The current P/AFFO Ratio is 7.67 based on a stock price of $105.84 and AEPS estimate for 2024 of $7.63. The current ratio is above the high ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively expensive.

I get a Graham Price of $79.85. The 10-year low, median, and high median Price/Graham Price Ratios are 0.73, 0.94 and 1.12. The current P/GP Ratio is 1.33 based on a stock price of $105.84. The current ratio is above the high ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively expensive.

I get a 10-year median Price/Book Value per Share Ratio of 1.47. The current P/B Ratio is 2.85 based on a stock price of $105.84, Book Value of $39,832M and Book Value per Share of $37.14. The current ratio is 94% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive.

I also have Book Value per Share estimate for 2024 of $38.20. This value implies a P/B Ratio is 2.77 with a stock price of $105.84 and Book Value of $40,966M. This ratio is 88% above the 10 year median ratio of 1.47. This stock price testing suggests that the stock price is relatively expensive.

I get a 10-year median Price/Cash Flow per Share Ratio of 5.90. The current P/CF Ratio is 7.67 based on a stock price of $105.84, Cash Flow per Shares estimate for 2024 of $13.80 and Cash Flow of $14,799M. The current ratio is 30% above the 10 year median ratios. This stock price testing suggests that the stock price is relatively expensive.

I get an historical median dividend yield of 1.22%. The current dividend yield is 3.97% based on dividends of $4.20 and a stock price of $105.84. The current dividend yield is 225% above the historical median dividend yield. This stock price testing suggests that the stock price is relatively cheap.

I get a 10 year median dividend yield of 3.59%. The current dividend yield is 3.97% based on dividends of $4.20 and a stock price of $105.84. The current dividend yield is 10% above the historical median dividend yield. This stock price testing suggests that the stock price is relatively reasonable and below the median.

The 10-year median Price/Sales (Revenue) Ratio is 2.10. The current P/S Ratio is 3.13 based on a stock price of $105.84, Revenue estimate for 2024 of $34,971, and Revenue per Share of $33.76. The current P/S Ratio is 49% above the 10 year median ratios. This stock price testing suggests that the stock price is relatively expensive.

Results of stock price testing is that the stock price is probably on the expensive side, but could still be reasonable. The 10 year median dividend yield test says that the stock price is reasonable, but the P/S Ratio test does not confirm this. All the other rest, but the dividend yield tests are pointing to the stock price as being expensive.

When I look at analysts’ recommendations, I find Strong Buy (7), Buy (5), and Hold (10). The consensus would be a Buy. The 12 month stock price consensus is $110.20 with a high of $126.00 and low of $91.00. The consensus stock price of $110.20 implies a total return of 8.09%, with 4.12% from capital gains and 3.97% from dividends.

There are a lot of buy recommendations on Stock Chase for this stock for 2024 and there is one hold. Stock Chase gives this stock 5 stars out of 5. Aditya Raghunath on Motley Fool says buy for passive income. Robin Brown on Motley Fool thinks this is the best of the energy stocks. The company put out a press release on Newsfile about their 2023 year end results.

Simply Wall Street via Yahoo Finance reviews this stock and two others. Simply Wall Street has one warnings of Significant insider selling over the past 3 month. Unfortunately, statistics do not differentiate between no taking up options and selling. Simply Wall Street gives this stock 4 stars out of 5.

Canadian Natural Resources Ltd is an independent crude oil and natural gas exploration, development, and production company. The Company's exploration and production operations are focused in North America, largely in Western Canada; the United Kingdom (UK) portion of the North Sea, and Cote d'Ivoire and South Africa in Offshore Africa. It derives a majority of its revenue from North America. Its web site is here Canadian Natural Resources.

The last stock I wrote about was about was Pembina Pipelines Corp (TSX-PPL, NYSE-PBA) ... learn more. The next stock I will write about will be Barclays PLC ADR (LSE-BARC, NYSE-BCS) ... learn more on Friday, April 26, 2024 around 5 pm. Tomorrow on my other blog I will write about Best Dividend Stocks learn more on Thursday, April 25, 2024 around 5 pm.

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

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

Pembina Pipelines Corp

Sound bite for Twitter and StockTwits is: Dividend Growth Utility. Results of stock price testing is that the stock price is probably reasonable. Debt Ratios are fine, but Liquidity Ratio could be improved. The Dividend Payout Ratios (DPR) are fine going by the DPR for AFFO and CFPS. The current dividend yield is good with dividend growth low See my spreadsheet on Pembina Pipelines Corp.

Is it a good company at a reasonable price? This is a utility stocks and is therefore generally a safe stock. However, at some point, we will be getting off oil and gas, but I would think that this will take more than 20 years. I have no intentions of selling my shares in this company even though its return is now lower than when I bought this company. In the last 5 and 10 years total return is in the 8% per year range and before that around 15% per year. The current price is in the reasonable and below the median range.

I own this stock of Pembina Pipelines Corp (TSX-PPL, NYSE-PBA). In December 2001 I thought it would be a good time to purchase this stock as the market was relatively low. Pipeline stocks are conservative and the return on this one was good at 9.7%. When I purchased this stock, it was an Income Trust company.

When I was updating my spreadsheet, I noticed I have well with this stock. I have owned it for 22 years and I have a total return of 15.75% per year with 7.26% from capital gains and 8.49% from dividends.

If you had invested in this company in December 2013, for $1,010.34 you would have bought 27 shares at $37.42 per share. In December 2023, after 10 years you would have received $600.28 in dividends. The stock would be worth $1,231.74. Your total return would have been $1,832.02. This would be a total return of 7.33% per year with 2.00% from capital gain and 5.33% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$37.42	$1,010.34	27	10	$600.28	$1,231.74	$1,832.02

The current dividend yield is good with dividend growth low. The current dividend yield is good (5% to 6% ranges) at 5.64%. The 5 and 10 year median dividend yields are also good at 6.05% and 5.53%. The historical median dividend yield is high (7% and over) at 7.10%. The dividend growth is low (below 8% per year) at 3.6% per year over the past 5 years. The last dividend increase occurred in 2023 and it was for 2.3%. However, the dividend increased by 4.1% between 2022 and 2023.

The Dividend Payout Ratios (DPR) are fine going by the DPR for AFFO and CFPS. The DPR for 2023 for Earnings per Share (EPS) is too high at 89% with 5 year coverage at 106%. The DPR for 2023 for Adjusted Funds from Operations (AFFO) is fine at 55% with 5 year coverage at 55%. The DPR for 2023 for Cash Flow per Share (CFPS) is fine at 51% with 5 year coverage at 42%. The DPR for 2023 for Free Cash Flow (FCF) is high at 75% with 5 year coverage at 86%.

Item	Cur	5 Years
EPS	88.80%	105.85%
AFFO	55.20%	54.84%
CFPS	40.93%	41.97%
FCF	75.16%	86.21%

Debt Ratios are fine, but Liquidity Ratio could be improved. The Long Term Debt/Market Cap Ratio for 2023 is good at 0.39 and currently at 0.38. The Liquidity Ratio for 2023 is too low at 0.82. If you added in Cash Flow after dividends, the ratios are still too low at 1.18 and currently at 1.27. I prefer this ratio to be 1.50 or higher. The Debt Ratio for 2023 is good at 1.94. The Leverage and Debt/Equity Ratios for 2023 are fine at 2.06 and 1.06.

Type	Year End	Ratio Curr
Lg Term R	0.39	0.38
Intang/GW	0.24	0.23
Liquidity	0.82	0.82
Liq. + CF	1.18	1.27
Debt Ratio	1.94	1.94
Leverage	2.06	2.06
D/E Ratio	1.06	1.06

The Total Return per year is shown below for years of 5 to 26 to the end of 2023. Under the Capital Gain column is the portion of the Total Return attributable to capital gains. Under the Dividend column is the portion of the Total Return attributable to dividends. So, if you held this stock for 15 years, dividends would have grown by 3.89% per year, your total return would be 15.77% per year with 7.58% from capital gains and 8.19% from dividends. See chart below.

From	Years	Div. Gth	Tot Ret	Cap Gain	Div.
2018	5	3.55%	8.32%	2.40%	5.92%
2013	10	4.94%	7.33%	2.00%	5.33%
2008	15	3.89%	15.77%	7.58%	8.19%
2003	20	4.66%	14.09%	6.44%	7.65%
1998	25	4.20%	16.38%	7.08%	9.30%
1997	26	6.17%	20.08%	8.15%	11.93%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 13.12, 14.69 and 16.25. The corresponding 10 year ratios are 16.12, 18.66 and 21.20. The corresponding historical ratios are 18.39, 20.76 and 23.35. The current P/E Ratio is 15.05 based on a stock price of $47.38 and EPS estimate for 2024 of $3.15. The current ratio is below the low ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively cheap.

I also have Adjusted Funds from Operations (AFFO) data. The 5-year low, median, and high median Price/ Adjusted Funds from Operations Ratios are 7.99, 9.13 and 11.01. The corresponding 10 year ratios are 9.15, 10.25 and 12.18. The current P/AFFO Ratio is 9.40 based on stock price of $47.38 and AFFO estimate for 2023 of $5.04. The current ratio is between the low and median ratios of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I also have Funds from Operations (FFO) data. The 5-year low, median, and high median Price/ Funds from Operations Ratios are 7.26, 8.64 and 10.14. The corresponding 10 year ratios are 8.41, 9.41 and 11.81. The current P/FFO Ratio is 9.89 based on stock price of $47.38 and FFO for last 12 months of $4.79. The current ratio is between the median and high ratios of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable but above the median.

I get a Graham Price of $40.74. The 10-year low, median, and high median Price/Graham Price Ratios are 1.06, 1.18 and 1.38. The current ratio is 1.13 based on a stock price of $47.38. The current ratio is between the low and median ratios of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I get a 10-year median Price/Book Value per Share Ratio of 1.68. The current ratio is 1.92 based on a stock price of $47.38, Book Value of $2,208M and Book Value per Share of $24.67. The current ratio is 14% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable but above the median.

I also have an estimate for the Book Value per Share for 2024 of $28.80. This implies a ratio of 1.84 based on a stock price of $47.38 and Book Value of $14,164. This ratio is 9% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable but above the median.

I get a 10-year median Price/Cash Flow per Share Ratio of 9.76. The current ratio is 8.87 based on a stock price of $47.38, Cash Flow per Share estimate for 2024 of $5.34 and Cash Flow of $2,932M. The current ratio is 9% below the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I get an historical median dividend yield of 7.10%. The current dividend yield is 5.64% based on dividends of $2.67 and a stock price of $47.38. The current dividend yield is 21% below the historical median dividend yield. This stock price testing suggests that the stock price is relatively expensive. Dividend yields were quite high between 1997 (start of my records) until 2011 when they moderated. This company used to be an income trust and income trusts had high dividend yields compared to corporations.

I get an historical median dividend yield of 5.3%. The current dividend yield is 5.64% based on dividends of $2.67 and a stock price of $47.38. The current dividend yield is 6% above the historical median dividend yield. This stock price testing suggests that the stock price is relatively reasonable and below the median.

The 10-year median Price/Sales (Revenue) Ratio is 2.93. The current P/S Ratio is 2.66 based on Revenue estimate for 2024 of $9,778M, Revenue per Share of $17.81 and a stock price of $47.38. The current ratio is 9% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median.

Results of stock price testing is that the stock price is probably reasonable. The 10 year median dividend yield test shows the stock price as reasonable and below the median. The P/S Ratio tests confirms this. Most of the rest of the testing shows the stock price as reasonable and above or below the median. The exception is the historical median dividend yield test which shows stock price as expensive, but yields were a lot higher prior to 2011 and after.

When I look at analysts’ recommendations, I find Strong Buy (8), Buy (4) and Hold (5). The consensus would be a Buy. The 12 months stock price consensus is $52.52 with a high of $58.00 and low of $39.50. The consensus price of $52.52 implies a total return of 16.48% with 10.85% from capital gains and 5.64% from dividends.

There were 7 buy recommendations on Stock Chase with the last one for 2024 being a Hold. Even the Hold recommendations says that it is currently fairly valued. Stock Chase gives this stock 5 stars out of 5. It is on all the dividend lists that I follow. Robin Brown on Motley Fool says buy this company for its passive income. Get an retirement revenue stream says Christopher Liew on Motley Fool by investing in this company. The company put out a Press Release about their 2023 results.

Simply Wall Street via Yahoo Finance put out a report on this stock. Simply Wall Street gives this stock 3 and one half stars out of 5. It has two warnings of has a high level of debt; and shareholders have been diluted in the past year.

Pembina Pipeline is a midstream company serving the Canadian and North American (primarily Bakken) markets with an integrated product portfolio. Its assets include pipelines and gas gathering as well as assets across fractionation, storage, and propane exports. Its web site is here Pembina Pipelines Corp.

The last stock I wrote about was about was Barrick Gold Corp (TSX-ABX, NYSE-GOLD) ... learn more. The next stock I will write about will be Canadian Natural Resources (TSX-CNQ, NYSE-CNQ) ... learn more on Wednesday, April 22, 2024 around 5 pm. Tomorrow on my other blog I will write about Natural Occurring Retirement Communities.... learn more on Tuesday, April 23, 2024 around 5 pm.

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

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

Barrick Gold Corp

Sound bite for Twitter and StockTwits is: Dividend Growth Materials. Results of stock price testing is that the stock price is probably reasonable. Debt Ratios are good. The Dividend Payout Ratios (DPR) are fine. The current dividend yield is moderate with dividend growth generally low with dividend increases and decreases over the years. See my spreadsheet on Barrick Gold Corp.

Is it a good company at a reasonable price? I do not recommend buy resource stocks. They are mostly cyclical and not good long term buys. I do not recommend gold stocks. I have some resource just to keep track of them as they are a good part of the TSX. I have little invested in this stock. The stock price does seem to be reasonable.

I own this stock of Barrick Gold Corp (TSX-ABX, NYSE-GOLD). I have this stock to help me track gold stocks. I only have 200 shares. I have had this stock for almost 10 year and have made a total return per year of 6.01% with 3.96% from capital gains and 2.05% from dividends.

If you had invested in this company in December 2013, for $1,010.34 you would have bought 54 shares at $18.71 per share. In December 2023, after 10 years you would have received $231.22 in dividends. The stock would be worth $1,292.76. Your total return would have been $1,523.98. This would be a total return of 4.40% per year with 2.50% from capital gain and 1.90% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$18.71	$1,010.34	54	10	$231.22	$1,292.76	$1,523.98

When I was updating my spreadsheet, I noticed I have had this stock for 11 years. I made two purchases in 2013 and 2016. I have a total return of 6.01%, with 3.96% from capital gains and 2.05% from dividends. Over the years, this stock has not returned much to its shareholders. See the Total Return to the end of 2023 chart in a paragraph below. The problem is that the stock hit a peak in 2011 that it has never matched again. It is now low compared to another lower peak in 2020. Also see the Total Return to the end of 2019 below.

From	Years	Div. Gth	Tot Ret	Cap Gain	Div.
2014	5	0.00%	12.55%	11.58%	0.97%
2009	10	-6.70%	-6.23%	-7.23%	1.00%
2004	15	-0.63%	-0.32%	-1.75%	1.43%
1999	20	0.00%	1.83%	0.25%	1.58%
1994	25	2.81%	0.55%	-0.72%	1.26%
1989	30	6.53%	4.65%	2.89%	1.76%
1986	33	9.81%	10.27%	7.17%	3.09%

The current dividend yield is moderate with dividend growth generally low with dividend increases and decreases over the years. The current dividend yield is moderate (2% to 4% ranges) at 2.24%. The 5, 10 and historical dividend yields are low (below 2%) at 1.70%, 1.31% and 1.19%. The dividends are up by 27% per year over the past 5 years, but this is because of dividends being raised in 2017 after cuts. The 10 year dividend growth is negative 2% per year because of dividend cuts. Over the past 36 years, the company has raised dividends 23 times and decreased them 5 times. It is on the Money Sense and Dividend Aristocrat dividend lists.

The Dividend Payout Ratios (DPR) are fine. The DPR for 2023 for Earnings per Share (EPS) is fine at 56% with 5 year coverage at 46%. The DPR for 2023 for Adjusted Earnings per Share (AEPS) is fine at 48% with 5 year coverage at 59%. The DPR for 2023 for Cash Flow per Share (CFPS) is good at 14% with 5 year coverage at 16%. The DPR for 2023 for Free Cash Flow (FCF) is, of course too high at 177% with 5 year coverage fine at 53%.

Item	Cur	5 Years
EPS	55.56%	46.18%
AEPS	47.62%	59.42%
CFPS	14.09%	16.66%
FCF	176.93%	53.43%

Debt Ratios are good. The Long Term Debt/Market Cap Ratio for 2023 is good at 0.15. The Liquidity Ratio for 2023 is good at 3.16. The Debt Ratio for 2023 is good at 3.32. The Leverage and Debt/Equity Ratios for 2023 are good at 1.96 and 0.59.

Type	Year End	Ratio Curr
Lg Term R	0.15	0.15
Intang/GW	0.12	0.12
Liquidity	3.16	3.16
Liq. + CF	4.44	4.69
Debt Ratio	3.32	3.32
Leverage	1.96	1.96
D/E Ratio	0.59	0.59

The Total Return per year is shown below for years of 5 to 37 to the end of 2023. Under the Capital Gain column is the portion of the Total Return attributable to capital gains. Under the Dividend column is the portion of the Total Return attributable to dividends. See chart below.

From	Years	Div. Gth	Tot Ret	Cap Gain	Div.
2018	5	27.23%	9.31%	5.97%	3.25%
2013	10	-2.21%	-0.59%	-2.21%	1.90%
2008	15	0.00%	-3.11%	-4.62%	1.43%
2003	20	3.03%	0.63%	-1.13%	1.57%
1998	25	3.25%	1.64%	-0.12%	1.49%
1993	30	5.51%	-0.17%	-1.49%	1.23%
1988	35	8.94%	6.98%	4.34%	2.72%
1986	37	10.79%	9.79%	6.30%	3.45%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 15.44, 18.59 and 23.98. The corresponding 10 year ratios are 12.10, 16.39 and 19.55. The corresponding historical ratios are 18.68, 25.03 and 29.31. The current P/E Ratio is 16.41 based on a stock price of $23.38 and EPS estimate for 2024 of $1.42. The current ratio is between the median and high ratios of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable but above the median. This testing is in CDN$.

I also have Adjusted Earnings per Share (AEPS) data. The 5-year low, median, and high median Price/Adjusted Earnings per Share Ratios are 16.89, 20.61 and 26.49. The corresponding 10 year ratios are 17.18, 22.93 and 32.54. The current P/AEPS Ratio is 18.03 based on a stock price of $16.95 and AEPS estimate for 2024 of $0.94. The current ratio is between the low and median ratios of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable and below the median. This testing is in US$ and you will get a similar result in CDN$.

I get a Graham Price of $23.25. The 10-year low, median, and high median Price/Graham Price Ratios are 0.93, 1.33 and 1.73. The current ratio is 1.01 based on a stock price of $23.38. The current ratio is between the low and median ratios of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable and below the median. This testing is in CDN$

I get a 10-year median Price/Book Value per Share Ratio of 1.67. The current ratio is 1.27 based on a stock price of $16.95, Book Value of $23,341M and Book Value per Share of $13.30. The current ratio is 24% below the 10 year median ratios. This stock price testing suggests that the stock price is relatively cheap. This testing is in US$ and you will get a similar result in CDN$.

I also have a Book Value per Share (BVPS) estimate for 2024 of $13.70. This implies a ratio of $1.24 and Book Value of $24,051M with a stock price of $16.95. The current ratio is 26% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap. This testing is in US$ and you will get a similar result in CDN$.

I get a 10-year median Price/Cash Flow per Share Ratio of 8.07. The current P/CF Ratio is 6.89 based on Cash Flow per Share estimate for 2024 of $2.46, Cash Flow of $4,319M and a stock price of $16.95. The current ratio is 15% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median. This testing is in US$ and you will get a similar result in CDN$.

I get an historical median dividend yield of 1.19%. The current dividend yield is 2.36% based on dividends of $0.40 and a stock price of $16.95. The current dividend yield is 98% above the historical median dividend yield. This stock price testing suggests that the stock price is relatively reasonable cheap. This testing is in US$ and you will get a similar result in CDN$.

I get a 10 year median dividend yield of 1.31%. The current dividend yield is 2.36% based on dividends of $0.40 and a stock price of $16.95. The current dividend yield is 81% above the 10 year median dividend yield. This stock price testing suggests that the stock price is relatively reasonable cheap. This testing is in US$ and you will get a similar result in CDN$.

The 10-year median Price/Sales (Revenue) Ratio is 2.52. The current P/S Ratios is 2.36 based on Revenue estimate for 2024 of $12,610M, Revenue per Share of $7.18 and a stock price of $16.95. The current ratio is 6% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median. This testing is in US$ and you will get a similar result in CDN$.

Results of stock price testing is that the stock price is probably reasonable. The dividend tests are saying the stock price is cheap, but this company varies its dividend as it goes up and down. The P/S Ratio test does not confirm the cheap price showing in the dividend yield tests. Most of the other testing is showing the stock price as relatively cheap or reasonable.

When I look at analysts’ recommendations, I find Strong Buy (10), Buy (6), Hold (1) and Underperform (1). This is a fairly wide range. The consensus would be a Buy. The 12 month stock price consensus is $28.28 ($20.54 US$), with a high of $35.01 ($25.43) and low of $22.91 ($16.64). The consensus price of $28.218 implies a total return of 23.29% with 20.94% from capital gains and 2.36% from dividends.

Analyst recommendations on Stock Chase for 2024 contain two Do Not Buys, one Hold and one Weak Buy. Stock Chase gives this stock 3 stars out of 5. Aditya Raghunath on Motley Fool thinks this stock is good to own because rising tensions in Middle East should cause gold prices to rise. Joey Frenette on Motley Fool also thinks gold is going to rise in price. The company put out a press release via Newswire about its fourth quarter results. There is a report via Yahoo Finance from a site called InvestorPlace.

Simply Wall Street via Yahoo Finance reviews this stock and insider buying. Simply Wall Street give this stock 4 stars out of 5. It lists one warning of Dividend of 2.4% is not well covered by cash flows.

Based in Toronto, Barrick Gold is one of the world's largest gold miners. It operates mines in 19 countries in the Americas, Africa, the Middle East, and Asia. The company also has growing copper exposure. Its web site is here Barrick Gold Corp.

The last stock I wrote about was about was Leon's Furniture Ltd (TSX-LNF, OTC-LEFUF) ... learn more. The next stock I will write about will be Pembina Pipelines Corp (TSX-PPL, NYSE-PBA) ... learn more on Monday, April 22, 2024 around 5 pm.

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

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

Leon's Furniture Ltd

Sound bite for Twitter and StockTwits is: Dividend Growth Consumer. Results of stock price testing is that the stock price is probably reasonable. Debt Ratios are fine. The Dividend Payout Ratios (DPR) are good. The current dividend yield is moderate with dividend growth low. See my spreadsheet on Leon's Furniture Ltd.

Is it a good company at a reasonable price? There are few analysts following this stock and they all say Hold. Analysts do not expect the stock price to rise much this year and they complain of small increases in the Revenue per year. There is also talk about the company spinning of their real estate holdings via a REIT. I will continue to hold on to my shares. I would expect total return to be around 8% per year, and that is reasonable. Current price is a reasonable one.

I own this stock of Leon's Furniture Ltd (TSX-LNF, OTC-LEFUF). I had some money in 2006 and this stock has been on MPL Communication's Investor Reporter list for some time. It was also on Mike Higgs' Dividend Growth Stock list. I bought some in 2006 and then some more in 2008, 2009, 2010,2013,2019 and 2022.

When I was updating my spreadsheet, I noticed I have had this stock for almost 18 years and I have a total return per year of 8.03% with 4.57% from capital gains and 3.46% from dividends.

This is not a great growth stock like Toromont Industries, but I think to have a good dividend producing portfolio, you need to have a variety of stock types. In every bear market I have been though, some sectors are hit harder than others and some are hardly hit at all. It seems no one knows what sectors are going to be hit in a bear market ahead of time. In all bear markets, some of my stocks cut or suspend dividends, others keep them flat and then others increase dividends.

In the chart below, I am showing 5 and 10 year total growth and per year growth in columns 3 and 4. Column 5 shows growth expected over 12 months to the first quarter in 2024 and expected growth over the next year. The analysts that complain about revenue growth are right. You would want Revenue growth of at least 5% per year. Revenue growth is low for the past 5 and 10 years and is still expected to be low for 2024 at 3.47%.

Yr	Item	Tot. Gwth	Per Year	Gwth	Coverage
5	Revenue Growth	9.52%	1.84%	-5.96%	<-12 mths
5	AEPS Growth	57.25%	9.48%	1.46%	<-12 mths
5	Net Income Growth	25.06%	4.57%	1.47%	<-12 mths
5	Cash Flow Growth	39.13%	6.83%
5	Dividend Growth	28.00%	5.06%	12.50%	<-12 mths
5	Stock Price Growth	20.83%	3.86%	21.15%	<-12 mths
10	Revenue Growth	44.86%	3.78%	3.47%	<-this year
10	AEPS Growth	136.78%	9.00%	0.00%	<-this year
10	Net Income Growth	106.68%	7.53%	0.93%	<-this year
10	Cash Flow Growth	204.76%	11.79%	21.93%	<-this year
10	Dividend Growth	60.00%	4.81%	12.50%	<-this year
10	Stock Price Growth	29.44%	2.61%	21.15%	<-this year

If you had invested in this company in December 2013, for $1,010.16 you would have bought 72 shares at $19.88 per share. In December 2023, after 10 years you would have received $486.00 in dividends. The stock would be worth $1,307.52. Your total return would have been $1,793.52. This would be a total return of 6.67% per year with 2.61% from capital gain and 4.06% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$14.03	$1,010.16	72	10	$486.00	$1,307.52	$1,793.52

The current dividend yield is moderate with dividend growth low. The current dividend yield is moderate (2% to 4% ranges) at 3.27%. The 5, 10 and historical median dividend yields are also moderate at 3.19%, 2.78% and 2.28%. The dividend increase is low (below 8% per year) at 5.1% per year over the past 5 years. The last dividend increase occurred in 2024 and it was for 12.5%. Note that there were no dividend increases in 2022 and 2023. This company does not increase the dividend each year. They occasionally give out special dividends. The company is only on the Globe and Mail all Star dividend list.

The Dividend Payout Ratios (DPR) are good. The DPR for 2023 for Earnings per Share (EPS) is good at 32% with 5 year coverage at 43%. The DPR for 2023 for Adjusted Earnings per Share (AEPS) is good at 31% with 5 year coverage at 30%. The DPR for 2023 for Cash Flow per Share (CFPS) is good at 22% with 5 year coverage at 26%. The DPR for 2023 for Free Cash Flow (FCF) is good at 21% with 5 year coverage at 30%.

Item	Cur	5 Years
EPS	31.68%	43.42%
AEPS	31.07%	30.17%
CFPS	21.67%	26.46%
FCF	21.37%	29.95%

Debt Ratios are fine. The Long Term Debt/Market Cap Ratio for 2023 is good at 0.07 and currently at 0.06. The Liquidity Ratio for 2023 is low at 1.34. If you added in Cash Flow after dividends, the ratios are fine at 1.68 and currently at 1.76. The Debt Ratio for 2023 is good at 1.86. The Leverage and Debt/Equity Ratios for 2023 are fine at 2.16 and 1.16.

Type	Year End	Ratio Curr
Lg Term R	0.07	0.06
Intang/GW	0.54	0.45
Liquidity	1.34	1.34
Liq. + CF	1.68	1.76
Debt Ratio	1.86	1.86
Leverage	2.16	2.16
D/E Ratio	1.16	1.16

The Total Return per year is shown below for years of 5 to 35 to the end of 2023. Under the Capital Gain column is the portion of the Total Return attributable to capital gains. Under the Dividend column is the portion of the Total Return attributable to dividends. See chart below.

From	Years	Div. Gth	Tot Ret	Cap Gain	Div.
2018	5	5.06%	9.61%	3.86%	5.76%
2013	10	4.81%	6.67%	2.61%	4.06%
2008	15	5.67%	9.21%	4.79%	4.42%
2003	20	8.51%	9.05%	4.88%	4.17%
1998	25	9.41%	10.37%	5.89%	4.47%
1993	30	9.92%	10.14%	6.12%	4.02%
1988	35	8.44%	11.71%	7.43%	4.29%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 7.67, 8.85 and 10.04. The corresponding 10 year ratios are 10.90, 12.34 and 13.78. The corresponding historical ratios are 12.15, 14.56 and 15.98. The P/E Ratio is going down because EPS is rising faster than the stock price. The current ratio is 10.68 based on a stock price of $22.00 and EPS estimate for 2024 of $2.06. This ratio is lower than the low ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively cheap.

I also have Adjusted Earnings per Share (SEPS) data. The 5-year low, median, and high median Price/Adjusted Earnings per Share Ratios are 7.73, 8.92 and 10.12. The corresponding 10 year ratios are 11.02, 12.48 and 13.94. The current P/AEPS ratio is 10.68 based on a stock price of $22.00 and AEPS estimate for 2024 of $2.06. The current ratio is below the low ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively cheap.

I get a Graham Price of $26.47. The 10-year low, median, and high median Price/Graham Price Ratios are 0.82, 0.94 and 1.07. The current P/GP Ratio is 0.83 based on a stock price of $22.00. The current ratio is between the low and median ratios of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I get a 10-year median Price/Book Value per Share Ratio of 1.64. The current P/B Ratio is 1.46 based on Book Value of $1028.5M, Book Value per Share of $15.12 and a stock price of $22.0. The current ratio is 11% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I get a 10-year median Price/Cash Flow per Share Ratio of 7.04. The current P/CF Ratio is 4.85 based on Cash Flow per Share estimate for 2024 of $4.54, Cash Flow of $309M and a stock price of $22.00. The current ratio is 31% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

I get an historical median dividend yield of 2.28%. The current dividend yield is 3.27% based on dividends of $0.72 and a stock price of $22.00. The current dividend yield is 43% above the historical median dividend yield. This stock price testing suggests that the stock price is relatively cheap.

I get a 10 year median dividend yield of 2.85%. The current dividend yield is 3.27% based on dividends of $0.72 and a stock price of $22.00. The current dividend yield is 15% above the historical median dividend yield. This stock price testing suggests that the stock price is relatively reasonable and below the median.

The 10-year median Price/Sales (Revenue) Ratio is 0.56. The current P/S Ratio is 0.59 based on Revenue estimate of $2,540M, Revenue per Share of $37.34 and a stock price of $22.00. The current ratio is 4.6% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable but above the median.

Results of stock price testing is that the stock price is probably reasonable. The 10 year dividend yield test suggests this and it is confirmed by the P/S Ratio test. The P/S Ratio test is the only one with reasonable result but above the median. All the other tests are showing the price as cheap or reasonable and below the median.

When I look at analysts’ recommendations, I find only a Hold (1) recommendation. The consensus would be a Hold. The 12 month target price is $23.00 with only one price. The target price of $23.00 implies a total return of 7.82% with 4.55% from capital gains and 3.27% from dividends. This stock is not well followed.

On Yahoo Finance, the recommendation is also a Hold (3). It also has only one 12 month target price of $23.00. The WSJ has only one recommendation of a Hold.

There are only 2023 entries on Stock Chase and 2 are buys, one Hold and one Trade. The Trade expects the company’s Real Estate to go to a REIT. Stock Chase gives this stock 4 stars out of 5. Joey Frenette on Motley Fool says buy well it is cheap and before it takes off. Ambrose O'Callaghan on Motley Fool says to buy before the stock takes off. The company put out a Press Release for its 2023 fourth quarter results.

Simply Wall Street via Yahoo Finance reviews this company. Simply Wall Street has two warnings of significant insider selling over the past 3 months; and unstable dividend track record. There is no significant selling, just insider not taking up options type deals. These show as selling. Also, the dividend track record is stable, they just do not increase their dividends each year. If you are in the US, it might appear dividends are unstable because dividends are paid in CDN$ and you will have to deal with currency exchange. This site often confuses unstable dividends with dividends paid in CDN$. Simply Wall Street gives this stock 3 and one half stars out of 5.

Leon's Furniture Ltd is a Canada-based retailer which is involved in the sale of home furnishing, mattresses, appliances, and electronics. The firm is also the country's commercial retailer of appliances to builders, developers, hotels, and property management companies. It generates maximum revenue from sales of goods by corporate stores. Its web site is here Leon's Furniture Ltd.

The last stock I wrote about was about was Supremex Inc (TSX-SXP, OTC-SUMXF) ... learn more. The next stock I will write about will be Barrick Gold Corp (TSX-ABX, NYSE-GOLD) ... learn more on Friday, April 19, 2024 around 5 pm. Tomorrow on my other blog I will write about Top 5 Stocks.... learn more on Thursday, April 18, 2024 around 5 pm.

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