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 [...]
Scotiabank (BNS) released its Q4 and FY2018 results on November 27, 2018. BNS has underperformed its Big 5 counterparts over various timeframes and shares are currently off ~21% from the 52 week high. Rather than view this as a negative I encourage investors to view this as a positive. The time to invest in great [...]
In 2017 articles and early 2018 articles I indicated I was of the opinion Hormel's (HRL) shares were undervalued. In my August 28, 2018 article I indicated I viewed them as fairly valued. On November 20th, HRL released its Q4 and FY2018 results and FY2019 projections. I now view HRL shares as overvalued. Summary HRL [...]
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 [...]
BCE, Rogers, and Telus are Canada's 3 largest publicly traded telecommunications companies. All three are solid long-term investments for investors seeking a lower level of volatility. Each company, however, has a different dividend policy which will likely influence an investor's investment decision. This article compares each company's dividend policy. Summary BCE, Rogers Communications, and [...]
On November 8, 2018 Brookfield Asset Management (BAM) released Q3 and YTD2018 results. $1.1B of Funds from Operations (FFO) were generated during Q3 versus $0.8B in Q3 2017. It has raised $12B of capital since the end of Q2 and it is now in the midst of raising capital across all three flagship funds. It [...]
Summary Becton Dickinson released its Q4 and FY2018 results and FY2019 Guidance on November 6th. Integration of Carefusion and C.R. Bard is proceeding as planned and management expects strong underlying growth of approximately 16% - 17% on a currency-neutral basis which is in excess of the C.R. Bard deal model. BDX expects to deliver adjusted [...]
Summary BR shares dropped ~9.7% upon the November 6, 2018 release of good Q1 2019 results and the reaffirmation of encouraging FY2019 projections. In my August 7th article I indicated I was of the opinion that BR shares were overvalued and that investors should wait for BR shares to pullback. BR’s FY2017 – FY2020 growth [...]
