Friday, August 18, 2017

Onex Corp

Sound bite for Twitter and StockTwits is: Not real div stock. I would not buy again. I would not buy any company with a dividend yield less than 1% and this has never reached 1%. See my spreadsheet on ONEX Corp.

I do not own this stock of Onex Corp (TSX-ONEX, OTC-ONEXF), but I used to. I thought this was a dividend paying stock, but was mistaken. A stock that keeps its dividend level year after year is not a true dividend stock. I bought this stock in 2001 because it was on a stock hit list article I read. By April 2008, I knew that this was not the sort of stock I wanted to be invested, so I sold. Over 6 years I made 5.8% return per year.

Since 2013 they have started to raise the dividends. They report in US$, but they pay dividends in CDN$. Dividends have gone up recently by 19% and 9.1% per year over the past 5 and 10 years. However, the dividend yield is very, very low. The current dividend is 0.31% based on a stock price of $96.87 and dividends of $0.30. This may technically be a dividend growth company, but dividends are still far too low to call this a dividend paying stock.

Another problem is that fact that the Long Term Debt/Market Cap Ratio is 3.27 for 2016. Anything close to 1.00 is a big problem. This is way over 1.00. Other problem is the Intangible/Market Cap Ratio is 1.33 and the Goodwill/Market Cap ratio is 1.31 for 2016. These are also big problems when getting close to 1.00.

There are very few estimates for this company. However, I did get some for EPS at $0.26 and $0.50 US$. With the second quarter, ONEX is reporting EPS of $17.06 US$. However, this seems to be sale of discontinued business. At least with the second quarter, the book value for shareholders is now positive.

Because of all the earnings losses, especially since 2010, the 5 and 10 year Price/Earnings per Share ratios are negative. The historical ones are far too low to make sense. For example, the historical high is just 3.88. The current P/E Ratio is 292.10 based on a stock price of $96.87 and 2017 EPS estimate of $0.33 CDN$ or $0.26 US$. This is also not a rational P/E Ratio. This stock price testing suggests that the stock price is relatively expensive.

I get a Graham Price of $13.87 CDN$ (when I include the 2017 estimate of .33CDN$ in GP formula). The 10 year low median and high median Price/Graham Price Ratios are 1.04, 1.49 and 1.82. The current P/GP Ratio is 6.98 based on a stock price of $96.87 CDN$. This stock price testing suggests that the stock price is relatively expensive.

I get a 10 year median Price/Book Value per Share Ratio 2.14 CDN$. The current P/B Ratio is 3.76 CDN$ and this is 75% higher than the 10 year median ratio. Current ratio is based on Book Value of $26,533M CDN$, BVPS of $25.79 CDN$ and stock price of $96.87 CDN$. You get similar results in US$. This stock price testing suggests that the stock price is relatively expensive. (Note that until the second quarter BV was negative for 2 years.) In 2014 BVPS was only $8.58 CDN$.

The historical dividend yield is 0.54%. The current dividend yield is 0.31%. The current dividend is based on dividends of $0.30 CDM$and a stock price of $96.87 CDN$ or $76.41 US$. The current dividend yield is some 43% below the historical median dividend yield. This stock price testing suggests that the stock price is relatively expensive.

The 10 year median Price/Sales (Revenue) Ratio is 0.17 CDN$. The current P/S Ratio is 037 a value some 116% lower. The current P/S Ratio is based on Revenue for the last 12 months to the end of the second quarter of $26,645M CDN$ ($21,125M US$), Revenue per Share of $216.89 CDN$ and a stock price of $96.87 CDN$. This stock price testing suggests that the stock price is relatively expensive. However, the P/S Ratio of 0.37 is a very low one.

When I look at analysts' recommendations, I find Strong Buy (1) and Hold (4). The consensus would be a Hold recommendation. The 12 month stock price is $101.79. This implies a total return of 5.39% with 5.08% from capital gains and 0.31% from dividends.

Onex Corp reports on their second quarterly results on Market Wired. David Owens on Simply Wall Street discusses CEO compensation as it applied to Onex. See what analysts are saying about this company on Stock Chase. They seem to like it.

Onex is one of North America's oldest investment firm committed to acquiring and building high-quality businesses in partnership with talented management teams. Onex manages investment platforms focused on private equity, real estate and credit securities. Gerald Schwartz is a major owner. Its web site is here Onex Corp.

The last stock I wrote about was about was BlackBerry Ltd. (TSX-BB, NASDAQ-BBRY)... learn more. The next stock I will write about will be Evertz Technologies (TSX-ET, OTC-EVTZF)... learn more on Monday, August 21, 2017 around 5 pm.

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

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

Wednesday, August 16, 2017

BlackBerry Ltd

Sound bite for Twitter and StockTwits is: Damaged tech stock. Mostly the stock price testing shows a reasonable price unless you look at P/S Ratio. Unfortunately, when a stock is not earning any money, Revenue becomes more important. The problem with BlackBerry is that revenue is still falling. Perhaps a better time to buy is when we can see that Revenue may start to increase. See my spreadsheet on BlackBerry Ltd.

I do not own this stock of BlackBerry Ltd. (TSX-BB, NASDAQ-BBRY), but I used to. I always liked tech stocks and this was a fast rising tech stock when I bought it. I made money because I had bought and sold it before it peaked in 2010. I do not tend to hold tech stocks for the long term.

One thing that is noticeable is the amount of stock options John Chen, the Chairman and CEO has. Currently his options are 1.83% of the market cap. This is down from 2.51% he used to own but it is still quite high. John Chen now owns shares worth $21M CDN$. Prior to this year his ownership was under $1M CDN$. This may be a buy signal in itself.

When I look at my spreadsheet all I see is red. I think that whether John Chen can turn this company around or not is still up in the air. A lot of analysts think that John Chen will turn the company around, but it has not started to turn yet.

The only positive I see is the debt ratios. The Long Term Debt/Market Cap Ratio is very low at 0.16 for 2017. The Liquidity Ratio and Debt Ratios at 2.79 and 2.71 for 2017 are very good where I like them to be at 1.50 and above. The Leverage and Debt/Equity Ratios are also quite good at 1.59 and 0.59 respectively. This means that the company is still viable. Financial year ends in February of each year.

Because of the last 5 years have had negative earnings, Price/Earnings Ratios for the past 5 and 10 years are not viable measures. However, the historical ones are. The low, median and high median historical Price/Earnings per Share Ratios are 10.13, 18.09 and 30.32. The current P/E Ratio is 17.92 based on a stock price of $11.14 CDN$ and 2018 EPS estimate of $0.62 CDN$ ($0.49US$). This stock price testing suggests that the stock price is relatively reasonable and below the median.

The current Graham Price is $8.49 CDN$. The 10 year low, median and high median Price/Graham Price Ratios are 0.89, 1.25 and 1.59 CDN$. The current P/GP Ratio is 1.31 based on a stock price of $11.14 CDN$. This stock price testing suggests that the stock price is relatively reasonable but above the median.

The 10 year median Price/Book Value per Share Ratio is 1.91. The current P/B Ratio is 1.70 based on Book Value of $2,738M US$, Book Value per Share of $5.15 US$ and Stock Price of $8.78 US$. The current P/B Ratio is some 11% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median. You would get a similar results using CDN$ values.

The 10 year median Price/Sales (Revenue) Ratio is 1.80 US$. The current P/S Ratio is 4.59 US$ based on 2018 Revenue Estimate of 1,016M US$, 2018 Revenue per Share estimate of $1.91 US$ and a stock price of $8.78 US$. The current ratio is 156% higher than the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive. You would get a similar results using CDN$ values.

There are still a number of analysts following this stock. When I look at analysts' recommendations, I find Buy, Hold and Underperform recommendations. There is only one buy out of 20. Most of the recommends are a Hold. The 12 month price consensus is $8.84 US$ or $11.21 CDN$. This implies a total return of 0.66% all from capital gains.

Joey Frenette of Motley Fool thinks that the turnaround for this company is real, but it will take some time. Tom Taulli at Investor Place gives 3 reasons against the bullish case for this company. Alan Innes on Learn Bonds talks about Goldman Sachs starting coverage of this company with a Sell and the consequences of this. See what analysts are saying at Stock Chase. Their views are quite mixed.

BlackBerry Limited provides mobile communications solutions. The Company is engaged in the sale of smartphones and enterprise software and services. Based in Waterloo, Ontario, BlackBerry operates offices in North America, Europe, Middle East and Africa, Asia-Pacific, and Latin America. Its web site is here BlackBerry Ltd.

The last stock I wrote about was about was EnerCare Inc. (TSX-ECI, OTC-CSUWF)... learn more. The next stock I will write about will be ONEX Corp. (TSX-OCX, OTC-ONEXF)... learn more on Friday, August 18, 2017 around 9 am. Tomorrow on my other blog I will write about Liquidity Ratio... learn more on Thursday, August 17, 2017 around 5 pm.

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

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

Monday, August 14, 2017

EnerCare Inc.

Sound bite for Twitter and StockTwits is: Dividend growth utility. Price seems to be coming up in the relatively reasonable category. This would not be my first choice as a utility stock. I do not like the low Liquidity Ratio and the high Dividend Payout Ratios. I think it is overvalued judging by the high P/GP Ratio. See my spreadsheet on EnerCare Inc.

I do not own this stock of EnerCare Inc. (TSX-ECI, OTC-CSUWF). I started to follow this stock in 2009 when it was an income trust. This was one of a few income trusts that I followed because it was recommended by MPL communications.

What I do not like is the debt ratios and especially, the Liquidity Ratio. Bad debt ratios help a company get into trouble in bad times. There are always going to be bad times. The Liquidity Ratio for 2016 is 0.43. If this is not 1.00, then current assets cannot cover current liabilities. If you add in cash flow after dividends it is only 0.57. If you add back in the current portion of the long term debt, it is 0.86. If you then add back in the cash flow after dividends it reaches just 1.15. I like this ratio to be at least 1.50 or higher for safety's sake.

They have restarted dividend increases in 2015. That first increase was for 22.8%. Later increases were lower with the latest one in 2017 at 3.9%. The dividend increases for the past 5 year is at 6.53% per year. The dividends have declined by 2.9% per year over the past 10 years.

As shown above the dividend increases are low over all increasing at just 6.5% per year lately. Dividends are good. The current dividend yield is 4.69%. This dividend yield is based on dividends of $0.96 and a stock price of $20.45. The 5 year median dividend yield is 5.70%.

Another thing I do not like is that the Dividend Payout Ratio is still too high. Yes, it used to be an income trust and they could spend more on dividends than the EPS. However, it is not an income trust anymore. It must get its Dividend Payout Ratio for EPS under control. The DPR for EPS for 2016 was 143% with 5 year coverage of 234%. This is far too high. Analysts expect that they will be able to have a DPR under 100% in 2019. However, you cannot really trust analyst estimates that far out. They cut the dividend by 50% in 2009. This was obviously not enough.

The Dividend Payout Ratio for CFPS is also too high. The one for 2016 is 50.8%. The 5 year coverage is 42%. The 5 year coverage is not too bad as generally it is thought that the DPR for CFPS should be 40% or less.

The 5 year low, median and high median Price/Earnings per Share Ratios are 23.84, 27.80 and 31.76. The corresponding 10 year ratios are 25.89, 33.14 and 42.63. The historical ones are 27.94, 34.44 and 39.57. To me these seem quite high for a utility stock. The current P/E Ratio is 35.26 based on a stock price of $20.45 and 2017 EPS of $0.58. This stock price testing suggests that the stock price is relatively reasonable but above the median.

I get a Graham Price of $8.63. The low, median and high median Price/Graham Price Ratios are 1.87, 2.18 and 2.72. The current P/GP Price is 2.37 based on a stock price of $20.45. These are also very high ratios for a utility stock. This stock price testing suggests that the stock price is reasonable, but above the median.

The 10 year median Price/Book Value per Share Ratio is 3.03. The current P/B Ratio is 3.58 based on a stock price of $20.45, Book Value of $954.M and BVPS of $5.71. The current P/B Ratio is some 18% above the 10 year median ratio. The stock price testing suggests that the stock price is reasonable, but above the median. For the price to be relatively expensive, the current P/B Ratio would have to be 20% above the 10 year median ratio.

Because this used to be an income trust company, the dividend yield tests do not work as well as for other companies. The 5 year median dividend yield is 5.70%. The median dividend yield since 2011 is 6.53%. The current dividend yield is 4.69% a value some 17% below the 5 year median. The current dividend yield is 28% lower than the median dividend yield since 2011. This stock price testing suggests that the stock price is relatively expensive.

The 10 year median Price/Sales (or Revenue) Ratio is 1.93. The current P/S Ratio is 1.68 based on a stock price of $20.45 and 2017 Revenue estimate of $1,267M and Revenue per Share at $7.44. The current P/S ratio is some 13% lower than the 10 year median. This stock price testing suggests that the stock price is relatively reasonable and below the median.

When I look at analysts' recommendations, I find Buy and Hold recommendations. Most are Buy recommendations and the consensus recommendation would be a Buy. The 12 month stock price is $24.42. This implies a total return of 24.11% with 19.41% from capital gains and 4.69% from dividends.

Chris MacDonald of Motley Fool likes this stock because it is boring and has a high dividend yield. Sarah Dixon on Clayton News Review says this company has a Return on Equity of 10.26%, Return on Invested Capital of 3.31% and Return on Assets of 2.81%. Ploutos Investing on Seeking Alpha likes this stock and is invested in it. See what analysts are saying about this stock on Stock Chase. They mostly like the company.

EnerCare Inc. owns a portfolio of waterheaters and other portfolio assets, which they rent to primarily residential customers. They rent out waterheaters in the GTA and southern Ontario. EnerCare also owns EnerCare Connections Inc., a leading sub-metering company, with metering contracts for condominium and apartment suites in Ontario, Alberta and elsewhere in Canada. Its web site is here EnerCare Inc.

The last stock I wrote about was about was Newfoundland Capital Corp. (TSX-NCC, OTC-none)... learn more. The next stock I will write about will be BlackBerry Ltd. (TSX-BB, NASDAQ-BBRY)... learn more on Wednesday, August 16, 2017 around 5 pm. Tomorrow on my other blog I will write about The West... learn more on Tuesday, August 15, 2017 around 5 pm.

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

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

Friday, August 11, 2017

Newfoundland Capital Corp

Second Quarter results are to be announced August 10. This report is available today. Revenue has declined again as but EPS is up a bit. The 12 month period to the end of the first quarter saw EPS at $1.09 and it is now $1.10 to the end of the second quarter. Cash Flow from operations is also up when compared to the second quarter of 2016.

Sound bite for Twitter and StockTwits is: Dividend growth consumer. This is a rather small cap company with in consistent dividends. It would not be my first choice as an investment. See my spreadsheet on Newfoundland Capital Corp.

I do not own this stock of Newfoundland Capital Corp. (TSX-NCC.A, OTC-none). I started to follow this stock as it was suggested as a decent dividend paying stock for investment purposes in the latter part of 2009. It is not on any dividend lists that I follow so I took a look at it.

This is a small cap stocks that analysts seem to no longer follow. The main question is, would investors be able to make money on this stock over the longer term. I think that the answer to that is yes. The worst showing is over the past 5 years.

The total return over the past 5, 10, 15 and 20 years is 5.96%, 7.10%, 10.34% and 33.68% per year. Why the total return for the 10 years is so high is that there was a big special dividend paid in 1998. Without this dividend the total return would have been 14.28% per year.

The portion of the total return over the past 5, 10, 15 and 20 years to dividends is 1.82%, 1.76%, 1.75% and 21.80%. Without that big special dividend the portion of the 20 year total return to dividends would be 3.94%. The portion of the total return over the past 5, 10, 15 and 10 years to capital gain was 4.14%, 5.34%, 8.60% and 11.88%.

The thing with dividends is that they have been inconsistent. They started to pay dividends in 1997. Since then there were 5 years with no dividends as dividends were suspended. There are lots of years with no dividend increases. Dividend increases tend to be good when made.

Dividends are also paid semi-annually. In lots of years, the second dividend paid is lower than the first one. A shareholder would not know what the dividends are going to be until they are actually declared. I think that a good dividend paying stock has consistency. This stock has none when it comes to dividends.

If you had a portfolio of other stocks with consistency with dividends, it might be fine to have this one that is inconsistent, especially if you are building your portfolio. This stock might also be worth to hold if the dividend yield was very good, but dividend yields on this stock are low with the historical median at just 1.54%.

The 5 year low, median and high median Price/Earnings per Share Ratios are 10.56, 12.69 and 14.81. The corresponding 10 year values are 10.09, 11.84 and 14.06. The historical values are 13.56, 15.86 and 19.07. It is interesting that the historical ratios are the highest, but then the company used to do better in the past. The current P/E Ratio is 10.00 based on a stock price of $11.00 and 12 month EPS to the end of the first quarter of $1.10. This stock price testing suggests that the stock price is relatively cheap.

I get a Graham Price of $12.56. The 10 year low, median and high median Price/Graham Price Ratios are 0.99, 1.15 and 1.33. The current P/GP Ratio is 0.88 based on a stock price of $11.00. This stock price testing suggests that the stock price is relatively cheap.

I get a 10 year median Price/Book Value of 2.02. The current P/B Ratio is 1.82 based on Book Value per Share of $154M, BVPS of $6.03 and a stock price of $11.00. The current P/B Ratio is 9.7% lower than the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median.

The historical median dividend yield is 1.54%. The current dividend yield at 1.82% is some 18% higher. The current dividend yield is based on dividend of $.20 and a stock price of $11.00. This stock price testing suggests that the stock price is relatively reasonable and below the median.

One problem with dividends on this stock is that they are semi-annual and are only known when declared. The first dividend was for $0.10, but often the company has put the second one lower. In 2016, the second dividend was higher than the first, but this is unusual for this stock. I do not think, from past history that you can be assured that the September dividend will be $0.10.

Dane Simmons on Simply Wall Street says that EPS has grown by 22.91% over the past year. He says he is using 12 month trailing EPS. I do see how he is getting his figures from. According to their first quarterly report EPS are $0.11 in the first quarter of 2017and this is down from $0.16 in the first quarter of 2016. However, EPS for 2017 is at $1.14 compared to 2016 of $0.81 and this is an increase of 40.9%.

The 12 month trailing EPS to the end of the first quarter of 2016 is $0.99 and the 12 month trailing EPS to the end of the first quarter of 2017 is $1.09 and increase of only 10%. Growth in EPS over past 5 years is indeed lower at 6.55% per year. The change in EPS since 2012 is down 58%, up 157%, down 58%, up 113% and up 41%. This is rather inconsistent and does not to be show a trend that I like.

Highlights from the first quarterly report of 2017 is on Cision.

I cannot find any analyst that is currently following this stock. Some analysts did follow it is the past but they have not for at least the past 2 year.

Newfoundland Capital Corporation Limited also owns and operates Newcap Radio. Newcap Radio is one of Canada's leading radio broadcasters with 79 licenses across Canada. The Company reaches millions of listeners each week through a variety of formats and is a recognized industry leader in radio programming, sales and networking. Its web site is here Newfoundland Capital Corp.

The last stock I wrote about was about was Loblaw Companies Ltd. (TSX-L, OTC-LBLCF)... learn more. The next stock I will write about will be EnerCare Inc. (TSX-ECI, OTC-CSUWF)... learn more on Monday, August 14, 2017 around 5 pm.

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

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

Wednesday, August 9, 2017

Loblaw Companies Ltd

Sound bite for Twitter and StockTwits is: Dividend growth consumer. I will continue to do most of my shopping at Loblaws, but I will also continue to hold the Metro Inc. stocks rather than getting any Loblaw stock. See my spreadsheet on Loblaw Companies Ltd.

I do not own this stock of Loblaw Companies Ltd. (TSX-L, OTC-LBLCF). I owned it from 1996 to 2007. It was originally a great stock. I sold it in 2007 because it was having problems with its tech upgrade to its supply system and it did not seem that it would be fixed anytime soon.

Let's face it, I do like shopping at Loblaw's stores and I certainly like getting free groceries. However, they have never really fixed their supply chain IT. I go to Metro sometimes and when they run out of stuff, they get more the next day. With Loblaw it can be a week or more. This has been going on a very long time.

Well, at least Loblaw is back to earnings money and they restarted dividend increases in 2012. However, both the dividend yield and dividend increases are quite low. The current dividend yield is 1.59% and the 5 and 10 year growth is at 4.12% and 2.1% per year. The last increase was in 2017 and it was for 3.8%. The Dividend Payout Ratio is 43.5% in 2016 with 5 year coverage of 56%.

Looking at Metro Inc. (TSX-MRU, OTC-MTRAF) I find a dividend yield of 1.62% with dividend growth of 17.3% and 14.5% per year over the past 5 and 10 years. The last increase was in 2017 and it was for 16.1%. The Dividend Payout Ratio is 22.46%% in 2016 with 5 year coverage of 19.3%. I think these facts covers real difference between Metro and Loblaw.

The debt ratios for Loblaw are fine. Return on Equity is rather low with ROE above 10% only once in the past 5 years and twice in the past 10 years. The ROE for 2016 is 7.5% with a 5 year median of 7.5% also. The ROE on comprehensive income is a bit higher with the ROE for 2016 at 7.9% and the 5 year median also at 7.9%. (Bye the way, the ROE for 2016 for Metro was 21.3% with a 5 year median of 19.1%.

The 5 year low, median and high median Price/Earnings per Share Ratios are 26.28, 28.80 and 31.32. The corresponding 10 year values are 15.87, 18.25 and 20.63. The historical ones are 16.84, 19.10 and 21.19. The reason the 5 year values are so high as the EPS dropped in 2015 and P/E Ratio shot up to as high as 516. Yes, that is correct to a value over 500. The current P/E Ratio is 15.44. This is based on a stock price of $68.10 and 2017 EPS of $4.41. This stock price testing suggests that the stock price is relatively cheap.

I get a Graham Price of $56.38. The 10 year low, median and high median Price/Graham Price Ratios are 1.05, 1.18 and 1.33. The current P/GP Ratio is 1.21 based on a stock price of $68.10. This stock price testing suggests that the stock price is relatively reasonable but above the median.

I get a 10 year median Price/Book Value per Share Ratio of 1.74. The current P/B Ratio is 2.13 a values some 22% higher. The current P/B Ratio is based on Book Value of $12,664M, BVPS of $32.04 and a stock price of $68.10. This stock price testing suggests that the stock price is relatively expensive.

I get an historical median dividend yield of 1.21%. The current dividend yield is 1.59% based on a stock price of $68.10 and dividends of $1.08. The current dividend yield is some 31% above the historical median. This stock price testing suggests that the stock price is relatively cheap.

When I look at analysts' recommendations, I find Buy and Hold recommendations. Most are Buy recommendations and the consensus is a Buy recommendation. The 12 month consensus stock price is $79.55. This implies a total return of 18.40% with 16.81% from capital gains and 1.59% from dividends based on a current price of $68.10.

In this BNN article from Arathy S Nair of the Canadian Press Loblaws says it anticipates competition between supermarket chains will be fierce this year as food prices continue to stay low. Stephanie Bedard-Chateauneuf of Motley Fool says this company is not a buy currently. Ryan Goldsman of Motley Fool compares Metro and Loblaw companies. See what analysts are saying about this stock on Stock Chase.

Loblaw Companies Limited, a subsidiary of George Weston Limited, is Canada's largest food retailer and a leading provider of drugstore, general merchandise and financial products and services. Loblaw offers Canada's strongest control (private) label program, including the unique President's Choice, no name and Joe Fresh brands. In addition, the Company makes available to consumers President's Choice financial services and offers the PC point loyalty program. Its web site is here Loblaw Companies Ltd.

The last stock I wrote about was about was Ballard Power Systems Inc. (TSX-BLDP, NASDAQ-BLDP)... learn more. The next stock I will write about will be Newfoundland Capital Corp. (TSX-NCC, OTC-none)... learn more on Friday, August 11, 2017 around 5 pm. Tomorrow on my other blog I will write about Volatility... learn more on Thursday, August 10, 2017 around 5 pm.

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

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

Tuesday, August 8, 2017

Ballard Power Systems Inc.

Sound bite for Twitter and StockTwits is: Clean energy stock. There does not seem to be any way to value this stock. It is not making any money. It does not even have momentum currently. It has been declining since hitting a peak in April of this year. See my spreadsheet on Ballard Power Systems Inc.

I do not own this stock of Ballard Power Systems Inc. (TSX-BLDP, NASDAQ-BLDP), but I used to. Back in 1997, I read about Ballard and fell in love with the idea of cars running with fuel cells. I could help save the environment and also make some money. It was very attractive. I sold this stock in 2006 because it had lost its attraction. It did not seem that Ballard fuel cells would be in any car anytime soon.

I was ahead in 2000, but the stock started to fall in October 2000 and never recovered. If I had kept to today, I would have lost some 78% of my investment. The stock hit a low in 2012 and has recovered from there. That is why the 5 year total return is 15.08% per year and the 10 year total return is at a negative 10.40% per year. All the returns are capital gains as the company pays no dividends.

For this spreadsheet, any green shows results that are less bad. For example, the growth for EPS over the past 5 and 10 years are 20.13% and 22.20% per year. However for the 5 years, the EPS went from a loss of $0.40 to a loss of $0.13. The 10 years was a loss of $1.60 to a loss of $0.13. They loss is less now, but to me the EPS is just less bad.

I cannot do a price check using Price/Earnings per Share Ratios. Most past P/E Ratios are negative. There is no check using dividends yield as there has never been dividends.

The closes I can get to a current Graham Price is on of $0.70 CDN$. The 10 year low, median and high median Price/Graham Price Ratios are 0.32, 0.59 and 0.90. The current P/GP Ratio is 5.26 based on a stock price of $3.68 CDN$. This stock price testing suggests that the stock is relatively expensive. However, there is a problem coming up with a Graham price.

The 10 year median Price/Book Value per Share Ratio is 1.88 US$. This is a rather normal value for this ratio. The current P/B Ratio is 4.27. This is a very high value for this ratio. The current P/B Ratio is based on Book Value of $120M US$, BVPS of $0.68 US$ and a stock price of $2.91 US$. The current ratio is some 126% above the 10 year median ratio. This stock price testing suggests that the stock is relatively expensive. Of course the problem is that Book Value is dropping. The BVPS has dropped 8% per year over the past 5 years by 18% per year over the past 10 years.

The 10 year median Price/Sales (Revenue) Ratio is 3.06 US$. The current P/S Ratio is 4.75 based on a stock price of $2.91 US$, 2017 Revenue estimate of $108M US$, and Revenue per Share of $0.61 US$. The current P/S Ratio is some 55% above the 10 year median P/S Ratio. This stock price testing suggests that the stock is relatively expensive.

There does not seem to be many analysts following this stock. There are 3 with one Buy recommendation and 2 Hold recommendations. The consensus recommendation would be a Hold. The 12 month stock price is $2.38 US$. This implies a loss of 18.26% and all capital loss.

Karen Thomas of Motley Fool likes this stock. It has done well over the very short term in capital gains returns. Sarah Dixon on Clayton News Review gives another and more technical review of this stock.

Ballard Power Systems, Inc. is a global leader in PEM (proton exchange membrane) fuel cell technology. They provide clean energy fuel cell products enabling optimized power systems for a range of applications. Ballard offers smarter solutions for a clean energy future. Its web site is here Ballard Power Systems Inc.

The last stock I wrote about was about was Savaria Corporation (TSX-SIS, OTC-SISXF)... learn more. The next stock I will write about will be Loblaw Companies Ltd. (TSX-L, OTC-LBLCF)... learn more on Wednesday, August 9, 2017 around 5 pm. Today on my other blog I will write about Dividend Changes... learn more on Tuesday, August 8, 2017 around 5 pm.

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

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

Friday, August 4, 2017

Savaria Corporation

Sound bite for Twitter and StockTwits is: Dividend Growth Consumer. From what I see, the stock price on this company is very high. The price is relatively very high for this type of stock. I guess people see companies supplying things for the old as very profitable. See my spreadsheet on Savaria Corporation .

I do not own this stock of Savaria Corporation (TSX-SIS, OTC-SISXF). I got this stock off the Dividend Blogger site that no longer exists. I am always interested in dividend growth small cap stock. The first few years of accounting were rather confusing, but I think I figured them out in the end.

What I noticed doing the spreadsheet update is the lack of consistency, especially in dividends. Overall growth is good through. They have just gone up and down a lot. Also there have been a couple of special dividends. Overall the dividends have increase by 12.4% and 25.6% per year over the past 5 and 10 years.

Dividends are currently low, but they have been moderate to good in the past. The current dividend is just 1.74%. The 5, 10 and historical median dividend yields are 3.54%, 4.64% and 3.89%. The historical high is very high at over 12% and this was because the stock took a dive in 2008.

Currently they can afford their dividends. The Dividend Payout Ratio for EPS for 2016 is 63% with 5 year coverage of 74.7%. The DPR for EPS is expected to go lower in the future. They did have DPR for EPS over 100% in 2011 which caused them to cut the dividends some 33%.

The 2011 dividend cut is the third time they cut or suspended dividends and dividends have just been paid since 2001. They have had big dividend increases and big dividend cuts in the past. So, I would not count on them doing anything different in the future.

Debt ratios have also varied, but are generally quite good. The 2016 Liquidity Ratio is 3.39 with a 5 year median of 2.49. The 2016 Debt Ratio is 2.92 with a 5 year median of 2.04. There are good as what is normally thought of as decent ratios is those 1.50 and above. The 2016 Leverage and Debt/Equity Ratios are 1.52 and 0.52 respectively with 5 year medians of 2.03 and 1.03. They have little long term debt with Long Term Debt/Market Cap at 0.03.

The Return on Equity has varied a lot, but it has only been below 10% once in the past 5 years, but 4 times in the past 10 years. The 2016 ROE is 14.8% with a 5 year median of 17.5%. The Comprehensive Income ROE for 2016 is 20.2% with a 5 year ROE of 11.4%. The difference between the ROE on Net Income and Comprehensive Income has also varied a lot.

The 5 year low, median and high median Price/Earnings per Share Ratios are 14.26, 18.41 and 22.18. Corresponding 10 year values are 10.91, 15.40 and 19.40. The historical ones are 13.37, 17.29 and 20.63. The current P/E Ratio is 29.37 based on a stock price of $14.98 and 2017 EPS estimate of $0.51. This stock price testing suggests that the stock price is relatively expensive.

I get a Graham Price of $5.27. The 10 year low, median and high Price/Graham Price Ratios are 0.93, 1.17 and 1.42. The current P/GP Ratio is 2.84 based on a stock price of $14.98. This is a very high Price/GP Ratio for this sort of a company. 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 1.85. The current P/B Ratio is 6.18 based on Book Value of $91.6M, BV of $2.42 and a stock price of $14.98. The current P/B Ratio is some 234% above the 10 year median ratio. A P/B Ratio of 6.18 is very high for this sort of a company. This stock price testing suggests that the stock price is relatively expensive.

The historical dividend yield is 3.89%. The current dividend yield is 1.74% based on dividends of $0.26 and a stock price of $14.98. The current dividend yield is some 55% below the historical yield. This stock price testing suggests that the stock price is relatively expensive.

The 10 year median Price/Sales (Revenue) Ratio is 0.61. The current P/S Ratio is 3.01 based on 2017 Revenue estimate of $188M, Revenue per Share of 4.98 and a stock price of $14.98. The current P/S Ratio is some 397% above the 10 year median P/S Ratio. This stock price testing suggests that the stock price is relatively expensive.

There is a lot of insider selling with the percentage of insider selling to market cap at 0.32%. Normally this ratio is around 0.02%. INK shows selling mostly by directors, but since I review this stock last year both the CEO and CFO are holding fewer shares. The problem of with selling is that you never know why and it could be unconnected with how the company is doing.

When I look at analysts' recommendations, I find Strong Buy and Buy recommendations. There are only 5 analysts following this stock. The consensus recommendation would be a Buy. The 12 month target price is $16.80. This implies a total return of 13.89% with 1.74% from dividends and 12.15% from capital gains.

From the Investment Reporter there is a good report via Daily Buy Sell Advisor. The Investment Reporter also thinks that the stock is costly but might be suitable for aggressive investors. Marguerite Chambers on Finance News Daily talks about this company getting Buy ratings. Staff of Financial News Week give some technical analysis on this stock. See what analysts are saying about this stock on Stock Chase. They mostly like this company.

Savaria Corporation is North America's leader in the accessibility industry focused on meeting the needs of people with mobility challenges. Savaria designs, manufactures, installs and distributes primarily elevators for home and commercial use, as well as stairlifts and vertical and inclined platform lifts. In addition, it converts and adapts minivans to be wheelchair accessible. Its web site is here Savaria Corporation .

The last stock I wrote about was about was TECSYS Inc. (TSX-TCS, OTC-TCYSF)... learn more. The next stock I will write about will be Ballard Power Systems Inc. (TSX-BLDP, NASDAQ-BLDP)... learn more on Tuesday, August 8, 2017 around 5 pm.

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

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

Wednesday, August 2, 2017

TECSYS Inc.

Sound bite for Twitter and StockTwits is: Dividend growth Industrial. This is rather a small cap. It also seems to be overpriced. It is a good stock though. There is a lot of insider selling over the past year at 0.80% of Market Cap according to INK. Generally insider selling would be at 0.02% of Market Cap. See my spreadsheet on 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.

Well, instead of buying a small amount of this stock, I should have bought lots more. I paid some $965 for 500 shares in 2017. Today those shares are worth $8,115. This stock has a total return of 42.87% per year. Also dividends have paid for some 30% of the cost of my stock. Unfortunately, it has been rather overpriced for a while.

Dividends are currently low, but they have been moderate in the past. The current dividend yield is 1.30% with a 10 year median yield of 2.43%. Dividend growth is good. The dividends have grown at 14% and 16.7% per year over the past 5 and 9 years.

This is another company when the spreadsheet shows a lot of green. They have good growth and generally good debt ratios. I prefer the Liquidity Ratio to be at 1.50 or above for safety's sake especially on industries that can be volatile. Return on Equity is not what I would like to see.

The Revenue has grown at 11.6% and 8.2% per year over the past 5 and 10 years. The Revenue per Share has grown at 10.3% and 9.4% per year. These are both good. Outstanding shares have not changed that much over the past 5 and 10 years.

The current Liquidity Ratio is 1.62 and it has a 5 year median of 1.60. However, the Liquidity Ratio has varied a lot and has been below 1.50. This happened last in 2012 when it was 1.45. The Debt Ratio has always been good. The one for 2017 is 2.41 and it has a 5 year median of 2.06. Leverage and Debt/Equity Ratios are good with the current ones at 1.71 and 0.71 respectively. The 5 year median values are 1.95 and 0.95 respectively. It has very little long term debt.

The Return on Equity has been below 10% twice in the past 5 years and 5 times over the past 10 years. It is currently good with a current ROE of $19.5% and a 5 year median of 10.8%. The Return on Comprehensive Income is a little lower with the current one at 16.6% and a 5 year median of 10.8%.

The 5 year low, median and high median Price/Earnings per Share Ratios are 21.69, 29.91 and 38.13. The 10 year corresponding ratios are 15.99, 20.16 and 24.33. The historical ratios are 9.47, 11.88 and 15.83. It would that the rise in price is also being pushed by a rising P/E Ratio. The current P/E Ratio is 32.09 based on a stock price of $13.80 and 2018 EPS estimate of $0.43. This stock price testing suggests that the stock price is relatively expensive. (Note that this stock has a year end at April 30 each year.)

Tech companies tend to have rather high P/E Ratios relative to other stock. This is sort of a tech company even though it is classified in the Industrial Services sector. However, to make money on tech companies you buy them when they have upward momentum. Currently this stock does not have this and it has been falling since reach a high in May of 2017.

I get a Graham Price of $4.91. The 10 year low, median and high median Price/Graham Price Ratios are 1.22, 1.58 and 1.89. The current P/GP Ratio is 2.81 based on a stock price of $13.80. This stock price testing suggests that the stock price is relatively expensive.

The 10 year median Price/Book Value per Share Ratio is 1.90. The current P/B Ratio is 5.53 a value some 190% higher. The current P/B Ratio is based on Book Value of $30.7M, BVPS of $2.49 and a stock price of $13.80. This stock price testing suggests that the stock price is relatively expensive.

This historical median dividend yield is 2.43. The current dividend yield is 1.30% based on dividends of $0.18 and a stock price of $13.80. The 5 year and 10 year median dividend yields are 1.35% and 2.43% respectively. The current yield is some 46% below the historical one but just 3% below the 5 year yield. This stock price testing suggests that the stock price is relatively expensive.

The 10 year median Price/Sales (or Revenue) Ratio is 0.70. The current P/S Ratio is 2.25 based on 2018 Revenues of $75.7M, Revenue per Share of $6.15 and a stock price of $13.80. The current ratio is some 220% higher than the 10 year median. This stock price testing suggests that the stock price is relatively expensive.

When I look at analysts' recommendations, I find only Buy recommendations for the 5 analysts that follow this stock. The 12 month stock price consensus is $17.60. This implies a total return of 25.04% with 23.77% from capital gains and 1.27% from dividends.

There is a Press Release on Cision talking about this company has signed a commercial agreement with Drone Delivery Canada. The Financial News Staff at Staff Talker comment on the high ratios this company has. Staff Writer at Oro Bulletin says that the .Williams Percent Range shows that this stock is oversold (i.e. low). There is not many analysts following this stock on Stock Chase. However, the analysts that do follow this stock like it.

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 Inc .

On my other blog I wrote yesterday about Pulse Seismic Inc. (TSX-PSD, OTC- PLSDF)... learn more. Tomorrow, I will write about Savaria Corporation (TSX-SIS, OTC-SISXF)... learn more on Friday, August 4, 2017 around 5 pm. Tomorrow on my other blog I will write about Something to Buy August 2017... learn more on Thursday, August 3, 2017 around 5 pm.

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

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

Monday, July 31, 2017

Pulse Seismic Inc.

Sound bite for Twitter and StockTwits is: Small Cap stock. It is hard to get a fix on the price, but it does seem a bit high. It would seem that investors expect that it is recovering. The stock is classified as industrial, but it is also a technology firm. It is risky, but could also do well in the longer term for shareholders. See my spreadsheet on Pulse Seismic Inc.

I do not own this stock of Pulse Seismic Inc. (TSX-PSD, OTC-PLSDF). I wanted to invest some extra money in a dividend paying small cap. I went to the Globe and Mail site of G&M and from Globe Investor section I selected the Stock Filter. I asked for companies that were priced between $1 and $5.50 and had a yield between 4% and 20%. Pulse Seismic Inc. was one of the companies that were returned. This is not a stock I chose to invest in but I found it of interest so I am following it.

Dividends have been paid on and off since 2003 some 14 years ago. They suspend dividends when they are not earning enough to cover them. This is probably prudent on their part. They might be a good stock for building a portfolio, but if you are living off your dividends, it may be of too high risk.

One good thing about this stock is their very good debt ratios. They have no long term debt so Long Term Debt/Market Cap Ratio is 0. The Liquidity Ratio and the Debt Ratios are 8.93 and 7.12 respectively where good ratios are 1.50 and above. Leverage and Debt/Equity Ratios for 2016 are 1.16 and 0.16. These are also very good ratios. This means that the stock can get through bad times and since they service the oil and gas industry, this can only be a very good thing.

I really cannot get a Price/Earnings Ratio fix on this stock. There are too many earnings losses to make anything meaningful from past P/E Ratios. The current P/E Ratio is 256.00 because the EPS is expected to be just $0.01 for 2017. The P/E Ratio for 2018 is 15.06. This is based on the current stock price $2.56 and 2018 EPS of $0.17. This would be a reasonable P/E Ratio. It is neither very high nor very low.

I get a current Graham Price of $0.36 and a Graham Price of $1.50 for 2018. The 10 year low, median and high median P/GP Ratios are 1.97, 2.50 and 2.94. The current Price/Graham Price Ratio is 7.06 and this is much too high. The Graham price for 2018 is 1.71. The P/GP Ratio for 2018 is in absolute terms rather high but compared to P/GP Ratios for this stock is says that the stock is relatively cheap.

I get a 10 year Price/Book Value per Share of $1.81. The current P/B Ratio is 4.38 a values some 141% above the 10 year median P/B Ratio. The problem is that the BVPS has been declining by 11% per year over the past 5 years. The P/B Ratio of 4.38 is based on BV of $32.3M and BVPS of $0.58. This stock price testing suggests that the stock price is relatively high.

The 10 year median Price/Sales (or Revenue) Ratio is 3.17. The current P/S Ratio is 7.46 based on 2017 Revenue estimate of $19M, Revenue per Share of 0.34 and a stock price of $2.56. The current ratio is some 135% higher than the 10 year median and this suggests that the stock price is relatively high. The main problem is the Revenue has been declining since 2012.

When I look at analysts' recommendations, I find only one analysts and he gives this stock a Hold recommendation. The 12 month stock price is $2.85. This implies a total return of 11.33% all from capital gains as dividends have been suspended.

On Stock House there is a Press Release from this company about their second quarterly report. It starts with highlights of the second quarter. An Aiken Contributor on Aiken Advocate gives some technical analysis, but this does not help too much in understand this stock. Rover Staff on The Stock Rover shows that the trend for this stock is relatively weak.

Pulse Data Inc. is a provider of 2D and 3D seismic library data and is based in Calgary, Alberta. Pulse owns the second-largest licensable seismic data library in western Canada. Pulse's 2D and 3D seismic data library extends over the Western Canada Sedimentary Basin, plus selected areas of the U.S. Rocky Mountains region and northern Canada, with a particular focus on active exploration areas. Its web site is here Pulse Seismic Inc.

The last stock I wrote about was about was Dorel Industries Inc. (TSX-DII.B, OTC-DIIBF)... learn more. The next stock I will write about will be TECSYS Inc. (TSX-TCS, OTC-TCYSF)... learn more on Wednesday, August 2, 2017 around 5 pm. Tomorrow on my other blog I will write about Dividend Stocks August 2017... learn more on August 1, 2017 around 5 pm.

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

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

Friday, July 28, 2017

Dorel Industries Inc.

Sound bite for Twitter and StockTwits is: Dividend Growth Consumer. The current price seems reasonable, but I do wonder if the company can make money for shareholders over the longer term. You can see how dividends count as for most periods dividends are a big part of total return. See my spreadsheet on Dorel Industries Inc.

I do not own this stock of Dorel Industries Inc. (TSX-DII.B, OTC-DIIBF) but I used to. I am always curious about what happens to stocks after I no longer hold them. I bought it in 1999 and sold in 2006 because I had not made any money on it. At that time it did not pay dividends. If I had continued to hold it I would have had it for 18 years and would have made 1.2% per year on capital gains.

This is a Canadian company that reports in US$, and it pays its dividends in US$. On their web site that talk about what dividends are paid, but do not mention that they are in US$. When they do a press release on dividends declared they state that they are in US$. I find this annoying. When dividends are paid in other than CDN$, you never really know what you are going to get. They will vary with each payment because of the currency exchange rate.

Initially the dividend looks good. The dividend yield is 4.55% and the dividends have grown at 14.8% and 10% per year over the past 5 and 9 years in US$. The problem is they cannot afford the dividends. The 5 year coverage is at 115% US$. This is, of course, too high. They also have had no increased the dividends since 2013. The dividend growth comes from only two dividend increases in 2012 and 2013.

Analysts keep expecting the company to have good earnings. Estimates for 2014 to 2016 were $3.17, $1.94 and $2.23 US$. They came in a loss of $0.66, earnings of $0.79 and a loss of $0.36. The expectation is earnings of $2.05 in 2017. If you look at earnings over the past 12 months to the first quarter and earnings for 2016, EPS s down by 67% to a loss of $0.60.

Getting back to how this stock has done, if you look at a chart you can see that the stock had a big rise in 1996 to 1999, but since then it has gone up and down, but hasn't gotten anywhere. The current highs are making it to past highs, but really no higher. The last peak was in 2013.

The people who have had this stock for 5 years did fine with a total return of 13.15%. It had 8.71% from capital gains and 4.44% from dividends. 5 year ago was 2011 and was the last low for this company. For the shareholders of 10 years, the total return would be just 4.70% with 2.09% from capital gains and 2.60% from dividends.

The 5 year low, median and high median Price/Earnings per Share Ratios are 7.35, 9.36 and 11.38. The 10 year values are 7.00, 8.77 and 10.41. The historical values are 8.91, 11.32 and 14.52. The current P/E Ratio is 12.88 based on a stock price of $33.01CDN$ and 2017 EPS estimate of $2.56 CDN$ ($2.05 US$). This stock price testing suggests that the stock price is relatively expensive.

I get a Graham Price of $48.66 CDN$. The 10 year low, median and high median Price/Graham Price Ratios are 0.63, 0.68 and 0.74. The current P/GP Ratio is 0.68 based on a stock price of $33.01. This stock price testing suggests that the stock price is reasonable and at the median.

The 10 year Price/Book Value per Share Ratio is CDN$ 0.76. The current P/B Ratio is 0.80 CDN$ based on a stock price of $33.01 CDN$ and Book Value of $1330.1M CDN$ and BVPS of $41.05 CDN$. The current P/B Ratio is 5.2% higher than the 10 year median ratio. This stock price testing suggests that the stock price is reasonable but above the median.

In US$ terms the current P/B Ratio of 0.80 and the 10 year median is $0.79. This makes the current one only 1.3% higher than the 10 year ratio. This stock price testing suggests that the stock price is reasonable and at the median (or very close).

The historical dividend yield is 2.56% US$. The problem with the historical yield is that the dividends started very low at 19.01% EPS Payout and are now very high. Dividends have been increasing strongly with a current negative payout because of no earnings in 2016 and with 5 year coverage of 115% US$. The 5 year dividend yield is 3.57% US$. I just wonder how good this test is because of the dividend increases that cannot be covered by EPS.

The current dividend yield is 4.55% based on Dividends of $1.20 US$. The current dividend is some 78% higher than the historical one and 27% higher than the 5 year one. This stock price testing suggests that the stock price is relatively cheap.

When I look at the analysts' recommendations I find one Strong Buy and 6 Hold recommendations. The consensus recommendation would be a Hold. The 12 month stock price is $27.51 US$ or $34.40 CDN$. This implies a total return of 8.76% with 4.21% from capital gains and 4.55% from dividends based on a current price of $33.01 CDN$.

Staff Writer on Hayden Business Journal gives some technical indicators for this company. Kurt Siggers on Key Gazette says of 4 analysts all give Holds on this stock.

Dorel Industries Inc. is a world class juvenile products and bicycle company. Dorel's Home Furnishings segment markets a wide assortment of both domestically produced and imported furniture products, principally within North America. Dorel has facilities in seventeen countries, and sales worldwide. Its web site is here Dorel Industries Inc.

The last stock I wrote about was about was Obsidian Energy Ltd TSX-OBE, NYSE-OBE)... learn more. The next stock I will write about will be Pulse Seismic Inc. (TSX-PSD, OTC- PLSDF)... learn more on Monday, July 31, 2017 around 5 pm.

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

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

Wednesday, July 26, 2017

Obsidian Energy Ltd

Sound bite for Twitter and StockTwits is: Recovering Resource Stock. It seems to be recovering and paying off its debt. It is still a speculative buy. Price is probably cheap. See my spreadsheet on Obsidian Energy Ltd .

I do not own this stock of Obsidian Energy Ltd (TSX-OBE, NYSE-OBE). I bought this stock as Maximum Energy Trust (MXT.UN) in 1998. In November 2001, there was a stock exchange and stock became Ultimate Energy Fund. In June 2004 fund changed from Ultimate Energy Income Trust to Petrofund Energy. Petrofund Energy merged with Penn West in July 2006 and I got .6 of a share for each share I had.

I sold this stock of Penn West in 2010 as it was changing to a corporation, but they are also getting back into exploration, rather than just selling oil from their wells. They also just reduced their dividends from $.15 per share per month to $.09 per share per month.

This company changed its name and symbols from Penn West Petroleum Ltd. (TSX-PWT, NYSE-PWE) on June 22, 2017 to Obsidian Energy Ltd TSX-OBE, NYSE-OBE). There is a News Release on Cision.

What I noticed is that there is lots of insider buying. Insider Buy at a percentage of the market cap is at 0.25%. This is high. Generally you have Net Insider Selling at a rate of 0.02%.

They have cut their dividends more often than they have raised then. In 2016, dividends were suspended. The company has had earning losses since 2013 and they are not expected to earn a profit until 2019.

They have been paying down the debt and selling off parts of the company. The Long Term Debt/Market Cap Ratio in 2015 was 3.30 and in 2016 was 0.39. The current one is 0.51 but debt is down but so is the Market Cap. The Liquidity Ratio at 0.99 in 2016 is a good improvement as the 5 year median is 0.61. The current one is better at 1.06. I prefer this to be 1.50, but it is going in the right direction. When this ratio is below 1.00, it means that current assets cannot cover current liabilities.

Almost all I see on my spreadsheet is red. I color code my growth values and red is negative growth. That means that Revenue, Earnings, Share Price, Cash Flow and Net Income all have negative growth, or values that are declining. However, declines are less or there is some improvement for 2016.

For example, the earnings loss for the last 12 month to the end of the first quarter is $1.14, for 2016 was $1.39 and for 2015 was $5.27. The current stock price is $1.50. For the end of 2016 it was $2.37 and for the end of 2015 it was $1.17. The end of the year was better but it is currently also higher than 2015.

It is not easy to do any Price/Earnings per Share stock price testing as this stock has too many EPS losses lately. However, if you ignore the last 5 years, I get historical low, median and high median P/E Ratios of 10.49, 11.36 and 14.03. Unfortunately, the EPS estimate for 2017 and 2018 are negative. So that knocks out this stock price testing.

I get a Graham Price of $1.75. The 10 year low, median and high median Price/Graham Price Ratios are 0.62, 0.96 and 1.25. The current P/GP Ratio is 0.86 based on a stock price of $1.50. This stock price testing suggests that the stock price is reasonable and below the median.

The 10 year Price/Book Value per Share Ratio is 0.82. The current P/B Ratio is 0.33 a value some 60% lower. The current P/B Ratio is based on a stock price of $1.50, Book Value of $2275M and BVPS of $4.52. Note that book value has been falling since 2012 and has its first increase in the first quarter of 2017. This stock price testing suggests that the stock price is relatively cheap.

The 10 year median P/S (or Price/Revenue) Ratio is 1.67. The current P/S Ratio is 1.73 based on a stock price of $1.50, 2017 Revenue estimate for 2017 of $436M and Revenue per Share estimate of $3.02. Revenue has been falling since 2012 and is estimated to fall another 28% in 2017. This stock price suggests that the stock price is relatively reasonable but above the median.

When I look at analysts' recommendations, I find Buy, Hold and Underperform Recommendations. The vast majority of the recommendations are a Hold and the consensus is a Hold. The 12 month consensus target price is $2.19. This implies a total return of 46% all from capital gains.

Mikael Kjellstrom via the Calgary Herald on Financial Post talks about how Penn West is changing its name and downsizing in a bid to turn the page on its troubled past. Geoffrey Morgan talks about the finding of accounting errors in previous years' financial stations on Financial Post. Kelly Cryderman on the Globe and Mail talks about US charging the company with Fraud 3 years after company found and fix the problem. And this helps shareholders how? Samantha Guadardo on Week Herald talks about Barclays PLC lowering Price Target to $2.00. See what analysts are saying about this company on Stock Chase. Most of the analysts like the fact that it is paying down the debt and moving on.

Obsidian Energy Ltd is a Canada-based conventional oil and natural gas producer and development and production company. The Company operates a portfolio of opportunities with an oil position in the Cardium, Viking and Peace River areas of Alberta. Its web site is here Obsidian Energy Ltd.

The last stock I wrote about was about was Lassonde Industries Inc. (TSX-LAS.A, OTC-LSDAF)... learn more. The next stock I will write about will be Dorel Industries Inc. (TSX-DII.B, OTC-DIIBF)... learn more on Friday, July 28, 2017 around 5 pm. Tomorrow on my other blog I will write about Diversification... learn more on Thursday, July 27m 2017around 5 pm.

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

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

Monday, July 24, 2017

Lassonde Industries Inc.

I just bought 200 shares of Alaris Royalty Corp (TSX-AD, OTC-ALARF) for my TFSA. It is a higher risk stock, but for my TFSA I am going to higher risk stock. Also, with a dividend yield of over 7%, there is a good chance that the company will cut the dividends.

Sound bite for Twitter and StockTwits is: Dividend Growth Consumer. This is a great company, but it is currently rather expensive. A good price on this stock would be closer to $140.00 rather than the current $240.00. See my spreadsheet on Lassonde Industries Inc.

I do not own this stock of Lassonde Industries Inc. (TSX-LAS.A, OTC-LSDAF). Although this stock is not on the Investment Reporter list, MPL communications does write about this stock. It has been covered several times in their Advice Hotline emails in 2010. Reports have been favorable and they suggest buying it for dividends and long term capital gains.

It is rather typical of food companies to have low dividend yields and this company is no different. The current dividend yield is 1 % based on dividends of $2.44 and a stock price of $240.50. The 5 year median, 10 year median and historical median are higher at 1.34%, 1.67% and 1.76% respectively.

The dividend growth is better over the past 5 years than in the past. This dividend growth is good at 15.1% per year. For other time periods the dividend growth was low to moderate with the lowest growth over the past 20 years. Growth over the past 10, 15 and 20 years were at 14% (moderate), 9.2% (moderate) and 6.8% (low). In keeping with increasing dividend growth, the latest dividend increase which occurred in 2017 was for 19.6%.

When I look at my spreadsheet all I see is green. I colour code growth values and green means growth of 8% or more. I look generally at the last 5 and 10 years, and at Revenue, EPS, Stock Price, Cash Flow, Book Value and Net Income are all coming up green.

Debt ratios are all good. For example, the Liquidity Ratio for 2016 was 1.70 and has a 5 year median of 1.79. Leverage Debt/Equity Ratios for 2016 is at 1.88 and 0.88 with 5 year medians at 2.06 and 1.06. Return on Equity (ROE) has not been below 10% during the last 10 years. However, Comprehensive Income Return on Equity has as it was 9.3% in 2016 when the ROE was 11.6%.

The 5 year low, median and high median Price/Earnings per Share Ratios are 15.79, 18.10 and 20.37. The 10 year corresponding values are 10.80, 12.38 and 12.12. The historical values are 10.80, 13.06 and 14.87. Unfortunately, the increase in the P/E Ratio can account for some of the run up in the stock price. The current P/E Ratio is 20.80 based on a stock price of $240.50 and 2017 EPS estimate of 11.56. This stock price testing suggests that the stock price is relatively expensive.

I get a Graham price of $142.61. The 10 year low, median and high median Price/Graham Price Ratios are 0.88, 0.99 and 1.13. The current P/GP Ratio is 1.69 based on a stock price of $240.50. 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 1.80. The current P/B Ratio is 3.08 a value some 71% higher. The current P/B Ratio is based on a stock price of $240.50, Book Value of $546.37 and BVPS of $78.19. This stock price testing suggests that the stock price is relatively expensive.

I get an historical median dividend yield of 1.76%. The current dividend yield is 1.01% based on dividends of $2.44 and a stock price of $240.50. The current yield is 42% below the historical median. This stock price testing suggests that the stock price is relatively expensive.

I get a 10 year median Price/Sales (or Price/Revenue) Ratio of 0.63. The current P/S Ratio is 1.09 based on 2017 Revenue estimate of $1546M, Revenue per Share estimate of $221.24 and a stock price of $240.50. The current ratio is some 73% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive.

When I look for analysts' recommendation, I found only one that that analyst is giving a Buy Recommendations. The 12 month stock price is set at $250. This implies a total return of 4.96% with 1.01% from dividends and 3.95% from capital gains.

Ryan Goldsman on Motley Fool gives this stock as his top pick for July. Staff at Financial Newsweek Staff say some interesting things about this stock. Kurt Siggers on San Times says that the next quarterly EPS estimate is $2.90.

Lassonde Industries Inc. is a North American leader in the development, manufacture and sale of a wide range of fruit and vegetable juices and drinks marketed under recognized brands such as Apple & Eve, Everfresh, Fairlee, Flavür, Fruité, Graves, Northland, Oasis, Rougemont, Seneca and The Switch. Lassonde is the second-largest producer of store brand ready-to-drink fruit juices and drinks in the United States and a major producer of cranberry juices, drinks and sauces. Its web site is here Lassonde Industries Inc.

The last stock I wrote about was about was Alaris Royalty Corp (TSX-AD, OTC-ALARF)... learn more. The next stock I will write about will be Obsidian Energy Ltd TSX-OBE, NYSE-OBE)... learn more on Wednesday, July 26, 2017 around 5 pm. Tomorrow on my other blog I will write about Home Capital Group... learn more on Tuesday, July 25, 2017around 5 pm.

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

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

Friday, July 21, 2017

Alaris Royalty Corp

Sound bite for Twitter and StockTwits is: Dividend Growth Financial. Dividends are good as is the debt ratios. Coverage of dividends is getting thin so no wonder they did not increase them in 2017. I am think ing buying this with money in my TFSA. See my spreadsheet on Alaris Royalty Corp.

I do not own this stock of Alaris Royalty Corp (TSX-AD, OTC-ALARF). This is a stock that Dividends In Hand Blogger has bought in July 2016. It was also recommended by Acumen Capital report in a report by Brian Pow and Oliver Shao via Investor's Digest.

This company only when public in 2008 therefore I have only 9 years of data on it. Dividends were started in 2009, so there is only 7 years of data on dividends.

So far dividends have been good (above 4%) and dividend increases low (1% to 7%) to moderate (8% to 15%). The current dividend is 7.28% with a historical median of 6.12% and a 5 year median of 5.30%. The dividend growth over the past 5 and 7 years is at 9.3% and 7.3% per year. However, dividend increases 2015 have been below 9% and the last dividend increase that occurred in 2016 was for 3.8%. So far this year here has been no dividend increase. Dividends are paid monthly.

The Dividend Payout Ratio for 2016 is a bit high at 89.5%. The 5 year median is too high at 102%. Analysts do not expect any change in dividends this year or next, but they do expect that there might be a peak in the DPR for 2017 and then for it to drop. The DPR for CFPS is better at 67.5% with a 5 year median at79%. This ratio is also expected to be higher in 2017.

Shares have increased by 13.3% and 42.5% per year over the past 5 and 10 years. There is nothing wrong with increasing shares, but it does mean that you have to be careful on where you look for growth. In this case you want to look at per share values. It can make a big difference. For example, Revenue growth over the past 5 and 10 years is 35.9% and 27.3% per year. However, Revenue per Share Growth, which is the real growth in revenue, comes in at 20% and a negative 10.7% per year over the past 5 and 9 years.

This stock has very good debt ratios. They are very high in 2016. In 2016 the Liquidity Ratio was 6.92 with a 5 year median of 3.73. The Debt Ratio in 2016 was 5.94 with a 5 year median of 7.09. Leverage and Debt/Equity Ratios are in 2016 1.20 and 0.20 with 5 year median of 1.16 and 0.16.

Return on Equity is a bit low. The ROE for 2016 was 10.2% but the 5 year median is 8.5%. The ROE on Comprehensive Income is unfortunately lower at 4.9% in 2016 with a 5 year median of 6.4%.

The 5 year low, median and high median Price/Earnings per Share Ratios are 15.18, 19.21 and 23.23. The 9 year corresponding ratios are 11.71, 13.84 and 17.17. The current P/E Ratio is 14.73 based on a stock price of $22.24 and 2017 EPS estimate of $1.51. This stock price testing suggests that the stock price is relatively reasonable and around the median.

I get a Graham Price of $24.66. The 9 year low, median and high median Price/Graham Price Ratios are 0.69, 0.90 and 1.15. The current P/GP Ratio is 0.90 based on a stock price of $22.24. This stock price testing suggests that the stock price is relatively reasonable and around the median.

I get a 10 year median Price/Book Value per Share Ratio of 1.29. The current P/B Ratio is 1.24 based on a stock price of $22.24 and BV of $650.2M and BVPS of $17.89. The current P/B Ratio is some 4% lower than the 10 year median ratio. This stock price testing suggests that the stock price is reasonable and below the median.

The historical median dividend yield is 6.12%. The current dividend is 7.28% based on dividends of $1.62 and a stock price of $22.24. The current dividend is some 19% above the historical yield. If it was 20% above the stock would be cheap. This stock price testing suggests that the stock price is relatively reasonable and below the median.

The 10 year median Price/Sales (or Revenue) Ratio is 10.81. The current P/S Ratio is 8.62 a value some 20% lower. The current P/S Ratio is based on a stock price of $22.24, 2017 revenue 2017 estimate of $94 and 2017 revenue per share estimate of $2.58. This stock price testing suggests that the stock price is relatively cheap.

When I look at analysts' recommendations, they are Strong Buy, Buy and Hold. Most of the recommendations are a Buy and the consensus is a Buy. The 12 month stock price is $24.06. This implies a total return of 15.475 with 8.18% from capital gains and 7.28% from dividends.

Kay Ng of Motley Fool likes this stock. Chris MacDonald on Bay Street says insiders are bullish on this company. There are more insiders buying than selling with Net Insider Buying at 0.02% over the past year. Sally Masters on Stock News Time talks about some buying and selling by insiders. See what analysts are saying at Stock Chase. They like to stock but are cautious.

Alaris Royalty Corp. forms partnerships with and invests in private companies where owners want to maintain control of their business. Typically, this financial services provider participates in the form of preferred limited partnership interests, preferred interest in limited liability corporations in North America, or long-term license and royalty arrangements. Its web site is here Alaris Royalty Corp.

The last stock I wrote about was about was Atlantic Power Corp (TSX-ATP, NYSE-AT)... learn more. The next stock I will write about will be Lassonde Industries Inc. (TSX-LAS.A, OTC-LSDAF)... learn more on Monday, July 24, 2017 around 5 pm.

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

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

Wednesday, July 19, 2017

Atlantic Power Corp

Sound bite for Twitter and StockTwits is: No Dividend Utility. The stock has high debt and cannot make a profit. They seem to acknowledge their problems and are try to get the debt under control. Some of the stock price testing suggests that the stock price is relatively cheap. However, they have huge vulnerabilities in their high debt level. See my spreadsheet on Atlantic Power Corp.

I do not own this stock of Atlantic Power Corp (TSX-ATP, NYSE-AT). Because I like utility companies and in 2010, I have read two columns that recommended this particular utility company (TSX-ATP), I decided to investigate it.

After investigating this stock, my impression is that I would not touch it with a barge-pole. However, I will talk about it and upload my spreadsheet so that you can decide for yourself. This company has recently converted from an income trust to a corporation. This company is in the TSX Utility Index. (Perhaps this is why it is recommended?)

First, I do not like their debt ratios. The Long Term Debt/Market Cap Ratio for 2016 is 2.98. If this is above 1.00 it means that the market values the company below the amount of their long term debt. If this ratio comes close to 1.00 alarm bells should ring out.

There are no debt ratios that I like. The Liquidity Ratio at 1.09 is very low. Even if you add in Cash Flow it is still 1.22 (this figure is usually cash flow after dividends, but dividends have been cut). The Debt Ratio is also low at 1.24. These ratios should be at 1.50 or better. The Leverage and Debt/Equity Ratios are very high at 22.55 and 18.13 respectively. . In the news release with the fourth quarterly results Atlantic Power Corp talks about improving their debt position.

The company cannot make a profit. This company went public in 2004, which is 13 years ago. They made a profit in only one year and that was in 2018. The company's book value has fallen by 37.6% and 13% per year over the past 5 and 10 years in CDN$ and by 41% and 14.4% per year over the past 5 and 10 years in US$.

I cannot do any Price/Earnings per Share Ratio testing of the stock price as most all the P/E Ratios are negative. The 5 year low, median and high median Price/Adjusted Funds from Operations Ratios are 7.66, 11.48 and 13.40. The current P/AFFO Ratio is 7.46 based on AFFO estimate for 2017 of $0.39 CDN$ and a stock price of $2.93CDN$. This stock price testing suggests that the stock price is relatively cheap.

I get a Graham Price of $2.50 CDN$. The 10 year low, median and high median Price/Graham Price Ratios are 0.89, 1.02 and 1.20. The current P/GP Ratio is 1.17 based on a stock price of $2.93. In this Graham Price formula I used the AFFO because it cannot calculate a Graham Price using a negative EPS. This stock price testing suggests that the stock price is relatively reasonable and but above the median.

The 10 year median Price/Book Value per Share Ratio is 1.93. The current P/B Ratio is 4.13 based on a stock price of $2.93 CDN$, $81.7M CDN$ Book Value and $0.71 CDN$ Book Value per Share. The current P/B Ratio is 114% above the 10 year median P/B Ratio. This stock price testing suggests that the stock price is relatively expensive. (Note that BV is declining.) You would get similar results if I did this in US$.

I, of course, cannot do any stock price testing on dividends as dividends were cut in 2016 after declining since 2013. The other thing to point out is that the stock used to be an Income Trust. Income Trust companies tend to pay out dividends higher than EPS and AFFO or FFO is used to determine Payout Ratios. Even the AFFO was negative in 2016. They have paid out over the past 5 years 100% of the AFFO. However, paying out the AFFO or more than it is never a good idea. Also, the company is now a corporation not an income trust.

The 10 Year median P/S Ratio at close is 1.94 US$. The current P/S Ratio is 0.61 in US$ based on a stock price $2.33 US$, 2017 Revenue estimate of $453M US$ and 2017 Revenue per Share estimate of $3.96 US$. The current P/S Ratio is some 69% lower than the 10 year median P/S Ratio. This stock price testing suggests that the stock is relatively cheap. (You will get a similar result in CDN$ terms.)

When I look at analysts' recommendations, I find Buy and Hold recommendations. There is only 4 analysts following this stock and 3 give it a Hold. The 12 months stock price is $2.93 US$ or $3.71 CDN$. This implies a total return of 25.75% with all from capital gains.

Doug Wharley on The Cerbat Gem talks about Wells Fargo increasing their increasing their stake in this company. Nick Cummings on Stock New Journal thinks that this stock is a sizzler. You have to wonder at their presentation of information. Yes P/S Ratio is low at a 0.59 currently with stock price at $2.33. At $2.40 I get P/S Ratio of 0.61. Over the past 5 years Sales are up by 40% if you look at revenue or 38% if you look at Sales per share. However, Sales were down by 26% in 2015, 5% in 2016 and year to date for March 2017 by 2%. This is in US$. Sorry, but I do not see this stock as a sizzlers. This is not well followed and the last two analysts' entries are for 2016 on Stock Chase and are Don't Buy recommendations.

Atlantic Power Corporation is an independent power producer that owns interests in a diversified fleet of power generation and transmission projects located in the United States. This company has a collection of gas-fired plants in the US and is generally in the lower cost quadrant of generation in its region. ATP owns interests in a diversified portfolio of independent, non-utility power generation projects and one transmission line situated in major U.S. markets. Its web site is here Atlantic Power Corp.

The last stock I wrote about was about was Artis REIT (TSX-AX.UN, OTC-ARESF)... learn more. The next stock I will write about will be Alaris Royalty Corp (TSX-AD, OTC-ALARF)... learn more on Friday, July 21, 2017 around 5 pm. Tomorrow on my other blog I will write about Canadian Banks... learn more on Thursday, July 20, 2017 around 5 pm.

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

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