price to sales ratio
IMPERIAL OIL LTD. $40 (Toronto symbol IMO; Conservative Growth Portfolio; Resources sector; Shares outstanding: 847.6 million; Market cap: $33.9 billion; Price-to-sales ratio: 1.1; Dividend yield: 1.2%; TSINetwork Rating: Average; www.imperialoil.ca) has started operating its new Kearl oil sands project in northern Alberta. Imperial owns 71% of Kearl. ExxonMobil Corp. (New York symbol XOM) owns the remaining 29%. Exxon also owns 69.6% of Imperial.
Kearl is the biggest project in Imperial’s history. Its first phase will produce 110,000 barrels a day (Imperial’s share is 78,100 barrels) by the end of 2013. The project’s second phase will add a further 78,100 barrels to Imperial’s daily production by late 2015. Kearl’s reserves should last 40 years.
Meanwhile, Imperial produced 284,000 barrels of oil equivalent a day in the three months ended March 31, 2013. That’s down 1.7% from 289,000 barrels a year earlier. The decline is mainly the result of planned maintenance at the Syncrude oil sands project; Imperial owns 25.0% of Syncrude.
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Kearl is the biggest project in Imperial’s history. Its first phase will produce 110,000 barrels a day (Imperial’s share is 78,100 barrels) by the end of 2013. The project’s second phase will add a further 78,100 barrels to Imperial’s daily production by late 2015. Kearl’s reserves should last 40 years.
Meanwhile, Imperial produced 284,000 barrels of oil equivalent a day in the three months ended March 31, 2013. That’s down 1.7% from 289,000 barrels a year earlier. The decline is mainly the result of planned maintenance at the Syncrude oil sands project; Imperial owns 25.0% of Syncrude.
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SUNCOR ENERGY INC. $32 (Toronto symbol SU; Conservative Growth Portfolio, Resources sector; Shares outstanding: 1.5 billion; Market cap: $48.0 billion; Price-to-sales ratio: 1.2; Dividend yield: 2.5%; TSINetwork Rating: Average; www. suncor.com) recently agreed to sell its conventional natural gas operations in Alberta, northeastern British Columbia and southern Saskatchewan for $1 billion. The deal does not include Suncor’s undeveloped shale gas and oil properties in B.C. and Alberta.
The cash from this sale prompted Suncor to raise its quarterly dividend by 53.8%, to $0.20 a share from $0.13. The new annual rate of $0.80 yields 2.5%. The company also plans to buy back up to $2 billion of its shares over the next five months.
In addition, Suncor continues to expand its oil sands operations. In the three months ended March 31, 2013, the company produced an average of 596,100 barrels of oil equivalent (including gas) a day. That’s up 6.0% from 562,300 barrels a year earlier.
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The cash from this sale prompted Suncor to raise its quarterly dividend by 53.8%, to $0.20 a share from $0.13. The new annual rate of $0.80 yields 2.5%. The company also plans to buy back up to $2 billion of its shares over the next five months.
In addition, Suncor continues to expand its oil sands operations. In the three months ended March 31, 2013, the company produced an average of 596,100 barrels of oil equivalent (including gas) a day. That’s up 6.0% from 562,300 barrels a year earlier.
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CANADIAN PACIFIC RAILWAY LTD. $132 (Toronto symbol CP; Conservative Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 174.7 million; Market cap: $23.1 billion; Price-to-sales ratio: 4.0; Dividend yield: 1.1%; TSINetwork Rating: Above Average; www.cpr.ca) continues to benefit from a major restructuring plan, which includes new locomotives, better tracks and software that optimizes train loads and speeds.
In the first three months of 2013, CP’s earnings jumped 52.8%, to $217 million, or $1.24 a share. A year earlier, the company earned $142 million, or $0.82 a share.
The higher earnings are mainly due to CP’s improving efficiency. Its operating ratio improved to 75.8% from 80.1% a year ago. The company aims to cut its operating ratio to 65% by the middle of 2016.
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In the first three months of 2013, CP’s earnings jumped 52.8%, to $217 million, or $1.24 a share. A year earlier, the company earned $142 million, or $0.82 a share.
The higher earnings are mainly due to CP’s improving efficiency. Its operating ratio improved to 75.8% from 80.1% a year ago. The company aims to cut its operating ratio to 65% by the middle of 2016.
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CANADIAN NATIONAL RAILWAY CO. $102 (Toronto symbol CNR; Conservative Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 424.1 million; Market cap: $43.3 billion; Price-to-sales ratio: 4.3; Dividend yield: 1.7%; TSINetwork Rating: Above Average; www.cn.ca) operates Canada’s largest railway. The company’s 32,350-kilometre network stretches across Canada and through the U.S. Midwest to the Gulf of Mexico.
Ottawa nationalized CN in 1918 because of the vital role the company played in Canada’s early growth. In 1995, CN became a publicly traded company. Unlike CP, Ottawa limits a single investor’s ownership in CN to 15%.
Due to a drop in freight volumes during the recession, CN’s revenue fell 13.1%, from $8.5 billion in 2008 to $7.4 billion in 2009. Revenue recovered to $8.3 billion in 2010 and surged to $9.9 billion in 2012.
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Ottawa nationalized CN in 1918 because of the vital role the company played in Canada’s early growth. In 1995, CN became a publicly traded company. Unlike CP, Ottawa limits a single investor’s ownership in CN to 15%.
Due to a drop in freight volumes during the recession, CN’s revenue fell 13.1%, from $8.5 billion in 2008 to $7.4 billion in 2009. Revenue recovered to $8.3 billion in 2010 and surged to $9.9 billion in 2012.
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SYMANTEC CORP. $23 (Nasdaq symbol SYMC; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 696.6 million; Market cap: $16.0 billion; Price-to-sales ratio: 2.3; Dividend yield: 2.6%; TSINetwork Rating: Average; www.symantec.com) makes software that protects computers from viruses and intruders, including the popular Norton anti-virus program. It also sells products and services, such as e-mail filtering and data backup, to businesses.
In July 2005, the company paid $13.2 billion for Veritas Software, whose software stores and protects information in large databases. The deal cut the company’s reliance on selling software to consumers and helped it compete with larger computer-services firms, like IBM.
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In July 2005, the company paid $13.2 billion for Veritas Software, whose software stores and protects information in large databases. The deal cut the company’s reliance on selling software to consumers and helped it compete with larger computer-services firms, like IBM.
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CEDAR FAIR L.P. $43 (New York symbol FUN; Income Portfolio, Consumer sector; Units outstanding: 55.6 million; Market cap: $2.4 billion; Price-to-sales ratio: 2.2; Dividend yield: 5.8%; TSINetwork Rating: Average; www.cedarfair.com) lost $1.95 a share in the first quarter of 2013, compared to a loss of $1.18 a year earlier. That’s mainly due to a one-time charge on the early retirement of debt. Cedar Fair typically loses money in the first quarter, as most of its 11 amusement parks and seven water parks close during the winter. However, revenue jumped 48.2%, to $41.8 million from $28.2 million, thanks to higher attendance and per-guest spending at its Knott’s Berry Farm year-round park in southern California.
The stock has gained 60% in the past year. However, that’s mainly due to its rising distributions, which could slow this year.
Cedar Fair is still a hold....
The stock has gained 60% in the past year. However, that’s mainly due to its rising distributions, which could slow this year.
Cedar Fair is still a hold....
PROCTER & GAMBLE CO. $79 (New York symbol PG; Conservative Growth Portfolio, Consumer sector; Shares outstanding: 2.7 billion; Market cap: $213.3 billion; Price-to-sales ratio: 2.7; Dividend yield: 3.1%; TSINetwork Rating: Above Average; www.pg.com) recently raised its quarterly dividend by 7.0%, to $0.6015 a share from $0.562....
FORD MOTOR CO. $16 (New York symbol F; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 3.9 billion; Market cap: $62.4 billion; Price-to-sales ratio: 0.4; Dividend yield: 2.5%; TSINetwork Rating: Extra Risk; www.ford.com) continues to expand in China. It sold 75,331 vehicles in that country in April 2013, up 37% from April 2012. That’s mainly due to strong demand for its new Focus sub-compact car and several of its sport utility models.
The company plans to launch 15 new vehicles in China by 2015. It also aims to double its production capacity in China, to 1.2 million vehicles, by 2015.
Ford is a buy.
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The company plans to launch 15 new vehicles in China by 2015. It also aims to double its production capacity in China, to 1.2 million vehicles, by 2015.
Ford is a buy.
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ALCOA INC. $8.58 (New York symbol AA; Conservative Growth Portfolio, Resources sector; Shares outstanding: 1.1 billion; Market cap: $9.4 billion; Price-to-sales ratio: 0.4; Dividend yield: 1.4%; TSINetwork Rating: Average; www.alcoa.com) is looking at more ways to cut costs, as aluminum prices have dropped 33% from their 2011 peak.
In response to the lower prices, the company has already closed about 13% of its smelting capacity. It is now thinking about lowering its production by a further 11%. This should help it reach its goal of cutting its operating costs by around 10% by 2015.
Alcoa is a buy.
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In response to the lower prices, the company has already closed about 13% of its smelting capacity. It is now thinking about lowering its production by a further 11%. This should help it reach its goal of cutting its operating costs by around 10% by 2015.
Alcoa is a buy.
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GANNETT CO. INC. $22 (New York symbol GCI; Conservative Growth Portfolio, Consumer sector; Shares outstanding: 229.6 million; Market cap: $5.1 billion; Price-to-sales ratio: 0.9; Dividend yield: 3.6%; TSINetwork Rating: Average; www.gannett.com) earned $86.0 million in the first quarter of 2013. That’s up 6.5% from $80.8 million a year earlier. Earnings per share rose 8.8%, to $0.37 from $0.34, on fewer shares outstanding. Revenue climbed 1.6%, to $1.24 billion from $1.22 billion.
The company continues to benefit from its move to charge users for access to its newspapers’ websites: revenue from its Internet operations (which supply 15% of the total) rose 3.9%. It now has 50,000 digital subscribers and feels this will rise to 300,000 by 2014. However, weaker demand for print advertising cut revenue at Gannett’s newspaper division (69% of revenue) by 0.3%. Revenue from its 23 TV stations (16%) rose 8.7% due to higher retransmission fees from cable and satellite TV operators.
Gannett is a buy.
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The company continues to benefit from its move to charge users for access to its newspapers’ websites: revenue from its Internet operations (which supply 15% of the total) rose 3.9%. It now has 50,000 digital subscribers and feels this will rise to 300,000 by 2014. However, weaker demand for print advertising cut revenue at Gannett’s newspaper division (69% of revenue) by 0.3%. Revenue from its 23 TV stations (16%) rose 8.7% due to higher retransmission fees from cable and satellite TV operators.
Gannett is a buy.
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