Investment Q&A

Q: Looks very good to me, surprised the market is not reacting
Fourth-Quarter Highlights
•Adjusted basic earnings per share(3) of $1.51, up 26.9%,
basic earnings per share of $1.33, up 129.3%
•13.4% operating income margin(1), up 0.5% year-over-year
•CCL Label organic sales growth of 5.9%
•Board approves 25% increase to first quarter 2015 dividend. Annual dividend is $1.50 per class B share for 2015 compared to $1.00 at March 2014


Adjusted basic earnings per share(3) of $6.53, up 47.4%,
basic earnings per share of $6.31, up 107.6%
•Avery delivers $109 million operating income(1)
•CCL Label delivers 6.5% organic sales growth and 21.0% EBITDA margin(2)
•Free cash flow(5) $264 million, 122% earnings conversion
•20% return on equity(6) hurdle reached for the first time

Q: Glentel down 8% in the past month and now off 12% from the 26.50 takeout price. Is the risk increasing that the deal falls apart or is this just the recent weakness in BCE shares and investors moving on to other opportunities? Also, how would one calculate the current arb opportunity? i.e. what is the actual takeout price based on todays closing price of BCE.
Thanks

Q: Dear Team,
for a minor position would either stock be acceptable or would you suggest to wait?
Thank you for your input!

Q: Could you please comment on the results for stn.
Thank you so much for this service.
Heather

PS My email is not working at the moment.

Q: Good morning team, Your comments pls. on the latest results. Good time to add? Thank you!

Silvia

Q: Hi,
Would you have any thoughts on this release:

MacDonald Dettwiler & Associates | MDA-TSX | price C$98.50 | Market Perform - Estimates revised. Maintain C$93.00 target price.
 The Com Sat market remains competitive (pricing pressure) and the stronger US$ makes it worse (MDA’s sats are more expensive vs. European competitors).
 A diversified revenue base and an improved cost structure should however help MDA weather the Com Sat pressures as it did in 2014.
 With MDA trading at 10.8x EBITDA, well above space infrastructure peers at 7.6x, we await a better entry point.
 Our target of $93.00 is based on 10x C2016E EBITDA, at a premium to peers given MDA’s stronger margin profile.

Thanks

Q: Could you give me some history on why & when FNV started dealing in Oil/Gas royalties?? Their present break-down by revenue is 17% oil/gas royalties. Also, are FNV,OR,SSL,RGL valued by Enterprise Value/Free Cash Flow?? Pierre Lassonde says that analysts don't assign any value from the fact that FNV gets a free perpetual option on discoveries made on the land by the operators, and FNV gets a free perpetual option on the price of gold. Do you agree with this?

Q: Good morning. Your comments on MNW earnings this morning.

Thx.

Q: Hi. Could you comment on MDA's earnings?

Thx.

Q: Hello Peter and Team.
Could You give me your recommendation and overall picture of this company.
Johann

Q: Just wanted to add something re Charlie's question on choosing a broker.
I have been with Scotia iTRADE for a while and have noticed their services getting better and fees coming down over the years. Nice to see that there is some competition in the industry. I note also that CIBC has just lowered their standard trade fee to $6.99. Hopefully Scotia and the other banks will follow.
Scotia has a decent list of ETFs that can be bought commission free. Also, it is very easy to enrol in DRIP and DPP as there is a tab to click that gives you the option. This means that all dividends can be reinvested commission free. Saves hundreds of dollars a year (if you hold div payers) and compounds returns efficiently.
Psychologically, for me it is easier to hold long term when you see your share count going up every quarter and dividend increases don't hurt either. Keeps the temptation to "over trade" down.

Q: I'm looking at this company as a long term hold in my rrsp. What are your thoughts?

Q: Hi I was wondering if I could get your opinion on this stock!

Q: I'm looking at investing in growth stocks in the pharmaceutical/health sector and am looking at two specific stocks, CRH and ACRX.US I appreciate that both are small cap and there is inherent risk in both. Could you please review each of these, provide your thoughts, and which of the two if either you would recommend.
Thank you
Jim

Q: Is XYL far enough along for investment? It's product, Xyla, is a sugar made from hardwood by-products. This form of xylitol is recommended for the sugar-sensitive. It is anti-bacterial: candy and gum made with hardwood xylitol don't cause cavities. Last night, xylitol (in general) got a plug on The Exchange. Cookies made with xylitol will be on Whole Foods shelves. This tells me public awareness is growing. Is XYL strong enough to grow? From Patti.

Q: Hello Peter & Co,
A follow-up on a fellow member's question on the subject. I too own BEP.UN and have noted your reference to NPI and RNW; but I am wondering if you had also considered Boralex BLX and Innergex INE.
Thanks,
Antoine

Q: Can I get 5i's updated view on Element Financial? Earnings were released on Wednesday and they seemed to match guidance and street expectations. I also noticed it has been doing quite well over the past few months compared to banks (although bank earnings see to be giving banks some catch up). How do you think EFN will do versus the rest of the financial sector?

Q: Just wondering if I should hold Vee, fez, and vxus inside a registered or non registered account. I thought I read somewhere that if held in a registered account, the withholding tax of 15% would apply (unlike us equities in a registered account), and there is no way to recoupe since it is in a registered account. What are your thoughts on this?
Thanks again for the great service.

Q: On a morning just FULL of dividend increases for picks that are highly regarded by 5i, I just have to say, again, THANK you all! Great service.

Q: tfsa I have approx $12,000 to be put to work- right now I have some rsi 1,100 shares and 35 ffh. A couple of suggestions would be appreciated. I am 60 years of age and in no need of the money.