Schedule I Canadian Banks – (part 2 of 6): Royal Bank of Canada Stock Analysis

Summary

  • This Royal Bank of Canada Stock Analysis is the second of a 6 part series covering the Big 6 Canadian Banks.
  • RY reported strong Q2 2017 results May 25th with earnings by business segment and by geography reflecting a marginally greater % from Wealth and the US relative to FYE2016.
  • RY’s Capital Measure Ratios are strong and the bank continues to be very well managed.
  • Pockets of the Canadian real estate market are wildly overheated but RY’s results indicate its real estate related loan portfolio is of sound quality.
  • RY is an attractive long-term investment but I suspect we will experience a major market correction within the next 12 months and urge caution.

Continue reading “Schedule I Canadian Banks – (part 2 of 6): Royal Bank of Canada Stock Analysis”

Schedule I Canadian Banks – (part 1 of 6): Bank of Montreal Stock Analysis

Summary

  • This Bank of Montreal Stock Analysis is based on Q2 2017 results and is the first of a 6 part series covering the Big 6 Canadian Banks.
  • BMO US results have raised concerns about a slowing in its US growth.
  • BMO’s Capital Measure Ratios continue to improve thus providing investors with assurances that BMO remains a safe bank.
  • Pockets of the Canadian real estate market are wildly overheated but BMO’s results indicate its real estate related loan portfolio is of sound quality.
  • The Home Capital Group implosion is unlikely to have a significant effect on BMO’s residential mortgage portfolio.
  • BMO has paid a dividend for 188 years and it announced a $0.02 increase to CDN $0.90 effective with its August 2017 dividend payment.

Continue reading “Schedule I Canadian Banks – (part 1 of 6): Bank of Montreal Stock Analysis”

Brookfield Asset Management Stock Analysis – The Future Looks Bright

Summary

  • This Brookfield Asset Management Stock Analysis is based on Q1 2017 financial results reported May 11, 2017.
  • Brookfield reported FFO of $0.674B for Q1 2017 and $3.2B on a last 12 month basis.
  • On May 19, BAM received approval from the TSX for its proposed normal course issuer bid to purchase up to ~83 million Class A Limited Voting Shares, representing 10% of the public float.
  • Brookfield is not inexpensive but is worth acquiring at current levels when you look at its long-term growth potential.

Continue reading “Brookfield Asset Management Stock Analysis – The Future Looks Bright”

Broadridge Financial Stock Analysis – Solid Steady Growth Continues

Summary

  • This Broadridge Financial stock analysis is based on Q3 2017 and 9 month YTD results and forecast for the remainder of the current fiscal year.
  • Broadridge Financial continues to grow its business and the NACC acquisition made in mid 2016 is already making significant contributions.
  • Adjusted net earnings increased 11% to $0.174B of the current FY compared to $0.156B for the prior year period (9 months).
  • Diluted EPS increased 2% to $1.15 compared to $1.13 for the prior year period (9 months).
  • Adjusted EPS increased 12% to $1.43 from $1.28 for the prior year period (9 months).
  • Trends in Capital Markets, Wealth Management, Asset Management, and Corporate Issuers present significant long-term growth opportunities for BR.

Continue reading “Broadridge Financial Stock Analysis – Solid Steady Growth Continues”

TELUS Corporation Stock Analysis – A Worthwhile Long-Term Investment for Conservative Investors

Summary

  • This TELUS Corporation stock analysis is based on Q1 2017 financial results and 2017 projections released May 11, 2017.
  • TELUS reported industry-leading consolidated revenue and EBITDA growth of 2.9% and 6.4% respectively.
  • Updated industry-leading 2017 targets reflect higher revenue and EBITDA of up to 4% and 7% respectively.
  • The quarterly dividend, payable July 4, 2017, has been increased from $0.48 to $0.4925.
  • TELUS represents a worthwhile long-term investment for conservative investors.

Continue reading “TELUS Corporation Stock Analysis – A Worthwhile Long-Term Investment for Conservative Investors”

FFJ Portfolio – April 2017 Dividend Income Report

Welcome to my April 2017 dividend income post. Within the FFJ Portfolio I generated dividends totalling CDN $1933.55 from BCE, SRU.UN and BNS and USD $445.78 (this is net of the 15% US withholding tax) from NKE, WMT, and CSCO.

As at the end of April 2017 I have generated YTD dividend income of CDN $3783.52 and USD $3328.02. Continue reading “FFJ Portfolio – April 2017 Dividend Income Report”

Intact Financial Stock Analysis – Great Growth Potential in the US Specialty Insurance Market with OneBeacon Acquisition

All dollar values in this article are in Canadian Dollars (CDN) unless otherwise noted.

Summary

  • This Intact Financial stock analysis is based on Q1 2017 results and OneBeacon proposed acquisition details which were both released May 2, 2017.
  • Intact has an estimated 17% of Canada’s property and casualty insurance market.
  • Management previously communicated the expansion beyond existing markets as one of its 4 avenues of growth.
  • On May 2, 2017, Intact released Q1 2017 results and announced the acquisition of OneBeacon, a US Specialty insurer. The acquisition is expected to close in Q4 2017.
  • Intact appears overvalued but this is because earnings were temporarily depressed. I view Intact as fairly valued.

Continue reading “Intact Financial Stock Analysis – Great Growth Potential in the US Specialty Insurance Market with OneBeacon Acquisition”