Investment Q&A

• Tricon Residential Inc. (TCN $15.34)
  • $15.34 P/E (TTM): 28.0X Cap: $4.50B
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Q: TCN has been absolutely crushed in this market. Do you continue to like the company?
If so why? Would now be a reasonable time to acquire shares or would it be better to continue sitting on the sidelines until we see some signs of interest rates stabilizing? And what is your sense as to when this might happen?

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Read Answer Asked by John on June 22, 2022

• Descartes Systems Group Inc. (The) (DSG $116.99)
  • $116.99 P/E (TTM): 48.78X Cap: $10.05B
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• Kinaxis Inc. (KXS $172.71)
  • $172.71 P/E (TTM): 103.86X Cap: $4.84B
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Q: I am considering selling Kinaxis in my TFSA and buying Descartes with the funds (I have significantly larger holdings of both companies in my investment accounts). Would you consider this a good investment decision?

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Read Answer Asked by jacques on June 21, 2022

• Loblaw Companies Limited (L $60.51)
  • $60.51 P/E (TTM): 7.3X Cap: $72.33B
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• Saputo Inc. (SAP $37.72)
  • $37.72 Cap: $15.47B
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• North West Company Inc. (The) (NWC $47.87)
  • $47.87 P/E (TTM): 16.95X Cap: $2.28B
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• Primo Water Corporation (PRMW $37.40)
  • $37.40 P/E (TTM): 15.23X Cap: $5.99B
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• Premium Brands Holdings Corporation (PBH $87.98)
  • $87.98 P/E (TTM): 60.0X Cap: $3.93B
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Q: What’s your outlook for SAP and is it good candidate for a defensive hold over the summer months.Maybe any other suggestions in the space…
Thanks.

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Read Answer Asked by Sonny on June 21, 2022

• Sun Life Financial Inc. (SLF $83.11)
  • $83.11 P/E (TTM): 20.66X Cap: $47.23B
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• Intact Financial Corporation (IFC $282.18)
  • $282.18 P/E (TTM): 23.44X Cap: $50.17B
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• Trisura Group Ltd. (TSU $39.24)
  • $39.24 P/E (TTM): 15.27X Cap: $1.86B
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Q: Would you recommend holding REIT's or insurance companies such as IFC in a rising rate environment?

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Read Answer Asked by Helen on June 21, 2022

• Sylogist Ltd. (SYZ $5.56)
  • $5.56 Cap: $129M
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Q: In your answer to my previous question on SYZ you said that earnings are expected to decline in 2022 but grow at a faster rate in 2023 .... Can I assume that the Simply Wall Street link I referenced is incorrect in their claim that earnings will decline by 32.4% PER year for the next three years ? .... Which I would assume to be 2022, 2023, and 2024 ...... If this is true I'll likely avoid the stock so I want to verify it's accuracy ......

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Read Answer Asked by Garth on June 21, 2022

• Aecon Group Inc. (ARE $26.37)
  • $26.37 P/E (TTM): 265.2X Cap: $1.66B
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Q: I would like to have your view on Aecon in a recession environment.
How is the balance sheet compared to the company's debt.
Would you recommend buying the dip here

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Read Answer Asked by Kristelle on June 21, 2022

• Nutrien Ltd. (NTR $83.31)
  • $83.31 P/E (TTM): 47.92X Cap: $40.47B
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Q: Would you be able to give some thoughts on the recent price action of NTR? I had wanted to pick some up, but waited for a pull back. Got some under $130, saw it pull back some more and got some more at about $120. It's still dropping however, and I'm a bit perplexed as to why it is dropping. Thank you.

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Read Answer Asked by jeff on June 20, 2022

• Kinaxis Inc. (KXS $172.71)
  • $172.71 P/E (TTM): 103.86X Cap: $4.84B
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Q: Hi, kxs is around half from its high, I have about half position. Would you wait till the market settles on tech stocks, or are you confident enough on kxs that now would be a good time to buy more?
Thanks

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Read Answer Asked by Brad on June 20, 2022

• WSP Global Inc. (WSP $253.30)
  • $253.30 P/E (TTM): 38.13X Cap: $33.08B
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Q: I hold WSP from 5i's Balance Portfolio and wonder if this stock is over priced in this market with a forward P/E of 22.8x (according to Koyfin). Just prior to COVID in January 2020, WSP traded around $96 and now it is about 40% more. Is WSP over priced in this market? What is their main focus on the consulting front?
Thanks!

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Read Answer Asked by Grant on June 20, 2022

• Enbridge Inc. (ENB $67.16)
  • $67.16 P/E (TTM): 25.91X Cap: $146.47B
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Q: How do the pipelines make their income ? Is it a fixed toll on flow that increases with volume ? Is it dependant on the commodity price ? Does the route of the pipeline; ie: the scarcity of capacity of a given route matter ? Is this a good entry ? Are tight commodity supplies good or bad for pipelines ? Thank you.

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Read Answer Asked by Paul on June 20, 2022

• Sylogist Ltd. (SYZ $5.56)
  • $5.56 Cap: $129M
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Q: I find the dividend you mentioned in your latest alert of 7% attractive.

How well is the dividend covered and under what circumstances do you feel it would not be covered.

Do you think that is at all likely?

Sheldon

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Read Answer Asked by Sheldon on June 20, 2022

• Magna International Inc. (MG $68.90)
  • $68.90 P/E (TTM): 13.54X Cap: $19.41B
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Q: Hi! I currently own Magna and I'm looking for another industrial name in Canada with a yield of 2.5%+. Can you suggest some options?

Thanks,
Jason

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Read Answer Asked by Jason on June 17, 2022

• Shopify Inc. Class A Subordinate Voting Shares (SHOP $204.92)
  • $204.92 P/E (TTM): 82.52X Cap: $266.65B
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• Teladoc Health Inc. (TDOC $6.92)
  • $6.92 Cap: $1.22B
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Q: Hello 5i,

For tax-loss selling looking for 30 day proxies for SHOP and TDOC.

Thanks

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Read Answer Asked by Lee on June 17, 2022

• Shopify Inc. Class A Subordinate Voting Shares (SHOP $204.92)
  • $204.92 P/E (TTM): 82.52X Cap: $266.65B
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Q: any signs yet of a ceo buying the stock

thx

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Read Answer Asked by blake on June 17, 2022

• Dye & Durham Limited (DND $3.13)
  • $3.13 Cap: $210M
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Q: What is your opinion on the news release regarding ACCC reviewing LINK Group & putting off an answer until September.
Do you feel this stock is going to drift downward, because of this over hanging issue.
Thank you very much appreciate your good work.
Earl

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Read Answer Asked by Earl on June 17, 2022

• CI Financial Corp. (CIX $31.99)
  • $31.99 Cap: $4.58B
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• ECN Capital Corp. (ECN $3.02)
  • $3.02 Cap: $850M
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Q: I see good value in each of these companies and am planning on taking a position in one of them.
For a 3-5 year hold in my TFSA, which would be your choice and why?
Thanks, Rick

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Read Answer Asked by Richard on June 17, 2022

Q: Hi Peter and Staff
On June 14th Darren asked for your top 4 Canadian industrials . You listed in order WSP STN CAE GDI and NFI

Absent were ATA TFII BYD and TFII all of which I thought you favoured more than all of the ones listed (especially NFI) except WSP?

Dennis

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Read Answer Asked by Dennis on June 16, 2022

• Enghouse Systems Limited (ENGH $19.99)
  • $19.99 P/E (TTM): 15.37X Cap: $1.10B
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• Open Text Corporation (OTEX $47.24)
  • $47.24 P/E (TTM): 17.97X Cap: $12.01B
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Q: I would like to capture a tax loss on Otex. Would Engh be a good proxy while I wait to decide whether to rebuy Otex. As always, thanks for your help.

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Read Answer Asked by Donald on June 16, 2022

• Topicus.com Inc. (TOI $128.90)
  • $128.90 P/E (TTM): 1083.28X Cap: $10.76B
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Q: TOI is at a 52 week low despite having a good quarter on its latest report.
It is dropping on higher volume than normal.

Yes it is a tough market for growth stocks but the high volume scares some.

Thanks

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Read Answer Asked by Herm on June 16, 2022

• Topicus.com Inc. (TOI $128.90)
  • $128.90 P/E (TTM): 1083.28X Cap: $10.76B
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Q: ? Over a 5 day period this stock has went from $75 to $64 as of June 14.
Thanks

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Read Answer Asked by Dennis on June 16, 2022