Q: Exco earnings appear horrible. Missed again! What to do with this puppy? Good dividend and appears cheap but no growth. Can it turn itself around? Has been dead money and lost money for a long time. Buy hold sell or buy more. Thanks.
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Investment Q&A
Not investment advice or solicitation to buy/sell securities. Do your own due diligence and/or consult an advisor.
Q: Could you please comment on ENB’s aftermarket strategic plan announcements. Will this help or hinder investor anxiety? Will the equity private placement be dilutive? Thanks.
Q: Disappointed in NFIs stock performance this last month - down about 14%. I regarded this as one of my ‘hang on and ignore’ stocks. I can’t find any negative stuff on it - seems all positive. Is it tax selling this early? I realize it is up on the year so I suppose this could be it. I think I am missing something tho. Pls enlighten me. Thks guys.
Q: comments please on the quarter?
Q: Here we go again.The underwriters try to push the stock as high as possible,but in this case of ENB with limited success.After market closed today ENB announced it is going to the market again to raise financing to the tune of $1.5b of private placement of 33.5m of treasury shares @ $44.84(recent 52 week low of $43.91),At the same time it reconfirmed 10%pa increase in dividend for a number of years.Please advise who are the lead underwriter(s) & underwriters.I guess BMO is one as it did a glowing report in G&M @ end of last week.My purchase @ $50 is 10% higher than the. $44.84,so hopefully the gap can be bridged.Thanks for u usual great views & services.
Q: I am a holder of SYZ, IMHO they have the worst website for shareholders I have ever come across. The only good thing is a link to Sedar. Why not have a list of press releases at a minimum for easy div. date reference. Not acceptable for any Co. never mind it's a computer Co.
If you agree you would have more clout with SYZ.
Please contact them.
If you agree you would have more clout with SYZ.
Please contact them.
Q: Hi. I own CSU and love it. Should I be concerned about the price today ?
Love your valuable service.
Jim,
Love your valuable service.
Jim,
Q: A member just asked about CGX...maybe this is the reason...from TD:
Yesterday afternoon, it was confirmed that Cineworld Group plc (CINE-LN, not rated) is currently engaged in discussions about a possible all-cash acquisition of Regal Entertainment Group (RGC-US, not rated), the No. 2 U.S. exhibitor, at a price of US$23 per share, or ~US$3.6bln (~US$5.9bln including debt).
However, no agreement has been reached.
Impact: SLIGHTLY POSITIVE
A US$23 per share purchase price is a 26% premium to Monday's closing price, but a 44% premium from a week ago. This equates to ~9.0x and ~22.0x 2018 consensus EBITDA and EPS, respectively. Implications for CGX include:
■ The valuation being implied for Regal gives us confidence in the ~10.1x we are applying to CGX's theatre segment within our SOTP calculation. CGX is currently trading at 9.7x our 2018 EBITDA estimate, and our current $47.00 target price is based on an 11.0x EV/EBITDA multiple applied to our consolidated EBITDA estimate for the 12 months ending September 2019.
■ We do not believe that CGX is currently for sale; however, applying Regal's takeover valuation plus the historical 3.0x-4.0x multiple point premium to CGX's 2018 EBITDA suggests that CGX could be worth $50-$55 in a takeout.
However, given its market share, mix of high-margin businesses, and strong earnings profile, we believe that this range would be the floor price.
■ The selloff in CGX shares has been overdone, exacerbated by increasing investor short positions over the past few months. We believe that industry M&A — which could be a consequence of what is perceived to be the diminishing influence exhibitors wield over the major studios — should provide short-term support for the share price. Over the long term, we believe that valuation will start rising once it becomes more evident that Cineplex's ongoing diversification initiatives are lessening its dependence on Hollywood content and when there is greater clarity surrounding the impact of Premium Video on Demand (PVOD). We expect these to become clearer closer to 2019.
Post if you think appropriate.
Yesterday afternoon, it was confirmed that Cineworld Group plc (CINE-LN, not rated) is currently engaged in discussions about a possible all-cash acquisition of Regal Entertainment Group (RGC-US, not rated), the No. 2 U.S. exhibitor, at a price of US$23 per share, or ~US$3.6bln (~US$5.9bln including debt).
However, no agreement has been reached.
Impact: SLIGHTLY POSITIVE
A US$23 per share purchase price is a 26% premium to Monday's closing price, but a 44% premium from a week ago. This equates to ~9.0x and ~22.0x 2018 consensus EBITDA and EPS, respectively. Implications for CGX include:
■ The valuation being implied for Regal gives us confidence in the ~10.1x we are applying to CGX's theatre segment within our SOTP calculation. CGX is currently trading at 9.7x our 2018 EBITDA estimate, and our current $47.00 target price is based on an 11.0x EV/EBITDA multiple applied to our consolidated EBITDA estimate for the 12 months ending September 2019.
■ We do not believe that CGX is currently for sale; however, applying Regal's takeover valuation plus the historical 3.0x-4.0x multiple point premium to CGX's 2018 EBITDA suggests that CGX could be worth $50-$55 in a takeout.
However, given its market share, mix of high-margin businesses, and strong earnings profile, we believe that this range would be the floor price.
■ The selloff in CGX shares has been overdone, exacerbated by increasing investor short positions over the past few months. We believe that industry M&A — which could be a consequence of what is perceived to be the diminishing influence exhibitors wield over the major studios — should provide short-term support for the share price. Over the long term, we believe that valuation will start rising once it becomes more evident that Cineplex's ongoing diversification initiatives are lessening its dependence on Hollywood content and when there is greater clarity surrounding the impact of Premium Video on Demand (PVOD). We expect these to become clearer closer to 2019.
Post if you think appropriate.
Q: As a follow up to the question asked today, in yesterday's Barrons online edition, there was an article by Michael Kahn called "3 stocks to play the rebounding Movie Theater Sector'. CGX may have moved up as part of that industry.
Q: Hi! What's up with CGX? Can't find any news.
Q: Is PKI an appropriate alternative to the (expensive) pipeline/infrastructure stocks and ATD.b or is the debt too concerning at the moment? Thanks!
Q: I recently bought ZCL based on 5i recommendation. Then after a missed quarter you drop ZCL from the growth portfolio, so I'm left holding a stock you no longer follow.
However for GUD you continue to recommend quarter after quarter based on no news or developments and a declining stock price?
However for GUD you continue to recommend quarter after quarter based on no news or developments and a declining stock price?
Q: For a "well diversified portfolio" and "Forever" holdings in Financial Sector, what would be your top 2 choices long-term [5 years] - assume 1 bank and 1 Alternative Finance, but your call. Looking for growth at a reasonable price.
Q: Hi 5i,
NFI has been quite weak...do you have any concerns on it?
Thanks,
Dave
NFI has been quite weak...do you have any concerns on it?
Thanks,
Dave
Q: When is SYZ reporting & expectations?Thanks for u usual great services & views
Q: Please comment on earnings? Thx
Q: Hi team,
This question is probably going to highlight my ignorance in this area only, but I am going to ask it any: Would it make sense for CSU to take over DSG in a mega deal? Would there be any synergies from a friendly acquisition? If yes, why CSU is not interested in DSG? or similar large Canadian software companies?
I have both and not sure if there are any advantages in keeping both.
Your feedback and insight is much appreciated.
This question is probably going to highlight my ignorance in this area only, but I am going to ask it any: Would it make sense for CSU to take over DSG in a mega deal? Would there be any synergies from a friendly acquisition? If yes, why CSU is not interested in DSG? or similar large Canadian software companies?
I have both and not sure if there are any advantages in keeping both.
Your feedback and insight is much appreciated.
Q: Can you provide any update on GPS, I understand a number of senior officers have recently been replaced.
Q: SYZ has been a long time winner for me. What are some of the reasons no analysts follow this stock while there are a lot of " dogs " out there that are being followed ? Thanx Robbie
Q: I have owned MAXR/MDA(in my RSP; approx 2.5% of my Portfolio) since 2015 and currently Market Value slightly greater than the Book Cost . I am a long term investor ,however, I am undecided re keeping MAXR or to sell and invest in another stock. Your input would be appreciated. Second question-what two stocks would you recommend regardless of sector/weighting at this time?