MCCOY CORP. $4.80 - Toronto symbol MCB

MCCOY CORP. $4.80 (Toronto symbol MCB; TSINetwork Rating: Speculative) (780-453-8451; www.mccoyglobal.com; Shares outstanding: 26.7 million; Market cap: $124.7 million; Dividend yield: 4.2%) operates through two divisions: Mobile Solutions and Energy Products and Services.

Energy Products and Services sells hydraulic equipment for drilling rigs. This gear includes power tongs, which are large, wrench-like tools that tighten and loosen the pipe in the drill hole. Mobile Solutions builds heavy-duty trailers for U.S. and Canadian clients in the oil and gas, wind energy, infrastructure and construction industries.

In the three months ended March 31, 2013, McCoy’s revenue fell 7.7%, to $42.0 million from $45.5 million. Sales declines at the Mobile Services division offset gains at Energy Products and Services. Earnings fell 4.3%, to $2.1 million, or $0.08 a share, from $2.2 million, or $0.08.

The stock trades at 8.7 times the company’s forecast 2013 earnings of $0.55 a share. It yields a high 4.2%.

McCoy is a buy for aggressive investors.

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