Q: Good morning.
Please provide your assessment of AGF.B.
Is it timely to invest in this company now?
Grazzia
Please provide your assessment of AGF.B.
Is it timely to invest in this company now?
Grazzia
5i Research Answer:
With strong capital markets, AGF has shown a nice recovery, up 44% in the past year. It remains VERY cheap at less than 7X earnings with a 4.12% dividend (last raised in Dec. 2023). Estimates have been rising (likely with market moves) and the last quarter was solid. Still, not a lot of growth is expected going forward (5% or so), and it is of course very closely tied to capital markets. Margin pressures remain. We also have to note its -5.7% decline in share price over the past 25 (!) years. We would consider it today OK, still not great, and mostly just for income.