Q: Will you be updating your report on Enghouse soon?
Many thanks,
Tom Caldwell
Many thanks,
Tom Caldwell
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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: What is your take on the newest CSU acquisition? Should I be reassured, or alarmed, by the letter to shareholders released today concerning the acquisition
Q: Could I please have the consensus figures for ESL's q4 revenue and eps?
Thanks,
Sandy
Thanks,
Sandy
Q: Hello 5i team
Copied from various press releases and news stories:
Fiera Capital Corporation (FSZ) completed its acquisitions of Bel Air Investment Advisors LLC as well as Wilkinson O'Grady & Co., Inc. last October. The purchase price is US$156.25 million, including US$115 million in cash (part of which will be held in a three-year escrow) plus US$10 million by issuing new Fiera Class A subordinate voting shares over a 32-month period.
The purchase price was financed using the net proceeds from the Firm's previously announced C$105 million private placements of a total of 9,781,000 subscription receipts from treasury with each receipt priced at $10.75. Of that total number of Subscription Receipts, Fiera issued 6,696,000 Subscription Receipts, on a private placement bought deal basis. In addition, Fiera issued 3,085,000 Subscription Receipts, on a private placement basis to National Bank of Canada who will ante up $31.4-million to maintain its ownership stake at 35% of Fiera.
As the subscription receipts were sold on a private placement basis, the Class A Shares are subject to a statutory resale restriction until January 19, 2014. The Subscription Receipts, together with the Class A subordinate voting shares issued, are subject to a four-month plus one day statutory resale restriction ending on January 19, 2014.
My question is : I want to take a 3% position in Fiera. With the big share issue, and the subscription receipt price at C$10.75 [current share price is C$13.64], and the 3 year escrow issuing shares over a 32-month period, plus the statutory resale restriction ending on January 19, 2014, will this put strong downward pressure on Fiera's share price? Would you be a buyer right away as the price is currently down 13% from it's 52-week high, or can we anticipate a further 5-10% correction in the share price in the months ahead?
Thank you for answering all my questions.... Paul
Copied from various press releases and news stories:
Fiera Capital Corporation (FSZ) completed its acquisitions of Bel Air Investment Advisors LLC as well as Wilkinson O'Grady & Co., Inc. last October. The purchase price is US$156.25 million, including US$115 million in cash (part of which will be held in a three-year escrow) plus US$10 million by issuing new Fiera Class A subordinate voting shares over a 32-month period.
The purchase price was financed using the net proceeds from the Firm's previously announced C$105 million private placements of a total of 9,781,000 subscription receipts from treasury with each receipt priced at $10.75. Of that total number of Subscription Receipts, Fiera issued 6,696,000 Subscription Receipts, on a private placement bought deal basis. In addition, Fiera issued 3,085,000 Subscription Receipts, on a private placement basis to National Bank of Canada who will ante up $31.4-million to maintain its ownership stake at 35% of Fiera.
As the subscription receipts were sold on a private placement basis, the Class A Shares are subject to a statutory resale restriction until January 19, 2014. The Subscription Receipts, together with the Class A subordinate voting shares issued, are subject to a four-month plus one day statutory resale restriction ending on January 19, 2014.
My question is : I want to take a 3% position in Fiera. With the big share issue, and the subscription receipt price at C$10.75 [current share price is C$13.64], and the 3 year escrow issuing shares over a 32-month period, plus the statutory resale restriction ending on January 19, 2014, will this put strong downward pressure on Fiera's share price? Would you be a buyer right away as the price is currently down 13% from it's 52-week high, or can we anticipate a further 5-10% correction in the share price in the months ahead?
Thank you for answering all my questions.... Paul
Q: I am in Goldcorp at about $26.50 and willing to be patient. Does it appear weaker to you recently, and do you attribute this weakness vs AEM (for example) due to this land claim issue in Mexico? Buy more, sell, hold at this point.
Q: My question is about bep.un. Another member has also asked you a question about it today.
The National Bank Market Q internet site indicates also weak earning P/E of 244 and 669 for the Dividend/Earning ratio.
BRF preferred shares are getting hammered. The BRF/PF offered April 24,2013 are now yieldind 6.68% and their earning coverage ratio is only 0.7 time.
Same situation for BAM/PN and BAM/PM while those of Brookfield Office such as BPO/PH have remained relatively stable during the same time period.
Would it be safe to buy the BRF and BAM preferred shares for their high yield?
Regards
The National Bank Market Q internet site indicates also weak earning P/E of 244 and 669 for the Dividend/Earning ratio.
BRF preferred shares are getting hammered. The BRF/PF offered April 24,2013 are now yieldind 6.68% and their earning coverage ratio is only 0.7 time.
Same situation for BAM/PN and BAM/PM while those of Brookfield Office such as BPO/PH have remained relatively stable during the same time period.
Would it be safe to buy the BRF and BAM preferred shares for their high yield?
Regards
Q: Hi Peter
In an article recently written by Boyd Erman he painted a negative picture of the U.S. residential rental market.He mentions that early players in the rental market like Carrington Holdings were having problems finding tenants for their properties,and that the returns aren't there anymore,he also mentions Tricon in this aricle.If Tricon experiences the same problems how much would this impact their earnings and cash flow?
Thanks Gord
In an article recently written by Boyd Erman he painted a negative picture of the U.S. residential rental market.He mentions that early players in the rental market like Carrington Holdings were having problems finding tenants for their properties,and that the returns aren't there anymore,he also mentions Tricon in this aricle.If Tricon experiences the same problems how much would this impact their earnings and cash flow?
Thanks Gord
Q: Peter and staff
Highliner (HLF) having a big down day. Has there been any material change or is it just some year end profit taking?
Cal
Highliner (HLF) having a big down day. Has there been any material change or is it just some year end profit taking?
Cal
Q: Could you give me latest views on BPF.UN. It would appear your last comments were given in April of this year.
Thanks
Thanks
Q: CSS has been on a downward trajectory (down over 10%) since it announced it was acquiring Best Transfer. Is this an indication of investor dissatisfaction or is it just profit taking - seems like a large draw-down for "just profit taking". Is this a concern or is it a good buying opportunity?
Q: I currently hold BMO, BNS & RY. Would buying HCG be a good idea.
Thank you as always
Thank you as always
Q: Hi, what do you think of HNL at this level? Would it still be a hold as I currently own it and have enjoyed the recent run.
Q: I have a question about Brookfield Renewable Energy LP.
I have owned BEP.UN long enough to have done fairly well with it. However, Vectorvest shows BEP.UN's earnings as fairly flat and low, give it a lower safety rating, and a '0' dividend rating.
Any thoughts as to why they are bearish and you are still bullish on the firm?
Thanks
I have owned BEP.UN long enough to have done fairly well with it. However, Vectorvest shows BEP.UN's earnings as fairly flat and low, give it a lower safety rating, and a '0' dividend rating.
Any thoughts as to why they are bearish and you are still bullish on the firm?
Thanks
Q: Magna has had a great run but now starting to level off and turn down.Still a good company with lots of good news but now rated a Hold..Do you think there is more upside in the near term
I think you last reported on them July 21st
I think you last reported on them July 21st
Q: Below are companies I'd be interested in seeing 5i reports on:
ACQ.to
BYD-un.to
Thank you
ACQ.to
BYD-un.to
Thank you
Q: Hello Peter and the 5I team
Have I missed the party on GIL or is there still growth potential there? What are your thoughts on the company?
Have I missed the party on GIL or is there still growth potential there? What are your thoughts on the company?
Q: Hello,
I really want to add AVO and TCN to my portfolio but I'd have two sell two of my stocks to do so.
I was thinking of selling Magna to buy the AVO. I know Magna is a great company but I already own LNR and ACQ which are doing better than Magna in my portfolio right now and are in the same sector, so I'm thinking I'm overweight in the sector with Magna.
Also thinking of selling Ciniplex to buy Tricon. I know totally different companies, but my ciniplex has gone up 15% since I bought it a few months ago and I don't see as much upside with it as Tricon.
Please let me know what you think of this strategy?
Carla
I really want to add AVO and TCN to my portfolio but I'd have two sell two of my stocks to do so.
I was thinking of selling Magna to buy the AVO. I know Magna is a great company but I already own LNR and ACQ which are doing better than Magna in my portfolio right now and are in the same sector, so I'm thinking I'm overweight in the sector with Magna.
Also thinking of selling Ciniplex to buy Tricon. I know totally different companies, but my ciniplex has gone up 15% since I bought it a few months ago and I don't see as much upside with it as Tricon.
Please let me know what you think of this strategy?
Carla
Q: Would you please give me your opinion on which of the following has a better opertunity for capital gains and dividends, abt or syz.
Q: I would like to add either Fiera Capital or CI Financial to my portfolio. Which has more growth over the next 3 years and which would you recommending holding
Darcy
Darcy
Q: Peter, I see that Fiera Capital is selling off today on news that Desjardins is selling some shares. What is your make on this? Is this a good buying opportunity?