Summary PAYX released Q2 results on December 19th and provided an update on the Oasis Outsourcing Acquisition which was announced on November 26th. Investors may be concerned about the 80+% dividend payout ratio but management has reiterated on several occasions that the company’s positive cash flows have historically allowed it to support its business and [...]
Summary Reuters has recently published a story that JNJ has known internally about the presence of asbestos in its talcum powder for decades. Regardless of whether investors feel this is ‘old news’ or not, the fact remains that there are roughly 9,000 – 10,000 pending talc related cases. JNJ is currently appealing a case [...]
Summary Korn/Ferry released Q2 results and reported the best top line and bottom line results in the company’s history. Many investors will likely shy away from a KFY investment because of its sub 1% dividend yield and stagnant quarterly dividend. I view shares as being attractively valued and am currently employing a conservative covered Call [...]
On August 5, 2018 I wrote this article in which I indicated that relying solely on stock screeners to identify investment opportunities has its shortcomings. At the time of that article CME was trading just shy of ~$162 and stock screeners reflected a dividend yield of ~1.73%. Fast forward to December 5 and the stock [...]
Summary BMO recently reported FY2018 which reflected the benefit of a 21% YoY reduction in the provisions for credit losses as well as a low tax rate. Canadian and US operations benefited from solid loan growth with strong Q4 performance evidenced in Personal and Commercial banking and accelerated growth in its U.S. segment. Senior management [...]
Summary CM recently reported FY2018 results and senior management indicated it is confident it can continue to deliver EPS growth within the 5% - 10% medium-term target range. CM is focused on expanding in the U.S. and gains from the PrivateBancorp acquisition are exceeding expectations. With the highest concentration of the Big 5 in Canadian [...]
Summary TD reported strong FY2018 results and senior management is confident it can continue to deliver adjusted EPS growth within the 7% - 10% medium-term target range. It has a well diversified business model, credit quality is strong, and it maintains a strong Basel III Common Equity Tier 1 (CET1) ratio. I anticipate a [...]
Summary RY recently reported record earnings of $12.4B for FY2018. Management anticipates further improvement in FY2019. RY has a well diversified business model and maintains a strong Basel III Common Equity Tier 1 (CET1) ratio. The bank has a lengthy history of profitability and dividend growth. The compound annual growth rate of RY’s dividend is [...]
Summary SJM is a company undergoing a transformation. Short-term results can, therefore, occasionally fall short of projections. Other well known names in the Consumer Goods, Processed and Packaged Goods space have performed poorly over the past year. SJM is attractively valued. Its forward adjusted PE has not been this low since the Financial Crisis. I [...]
Summary A former GS banker has pleaded guilty for his role in the Malaysia's 1MDB corruption scandal. Malaysia is seeking a full refund of the almost $0.6B that it paid to GS for three bond deals. Claims of embezzlement and money laundering have led to investigations in the U.S., Singapore, and Switzerland. GS has not [...]
