Q: What do you think of their latest quarter.
5i Research Answer:
EPS of $1.22 missed estimates of $1.24; revenue of $12.53B beat estimates handily. NAV rose 14% year over year. Stock buybacks continue (3M shares in the quarter). Retirement and wealth divisions were strong. But capital markets hurt overall results. The stock had a bit of a decline on the news, but we would not consider the results to be that bad. Most divisions showed operational growth, and the stock--being up 33% in a year--was vulnerable to some profit-taking. At 9X earnings with a 5% dividend we would remain very comfortable with POW overall.