price to sales ratio
ENBRIDGE INC. $43 (Toronto symbol ENB;Conservative Growth Portfolio, Utilities sector;Shares outstanding: 799.9 million; Market cap: $34.4billion; Price-to-sales ratio: 1.4; Dividend yield: 2.9%;TSI Network Rating: Above Average;www.enbridge.com) has bought 50% of the Massifdu Sud wind project in Quebec. This is the company’s second wind power investment in that province.
Enbridge paid $170.0 million for its stake in this facility. That’s equal to 63.2% of the $269.0million, or $0.34 a share, that it earned in the three months ended September 30, 2012.
Wind farms don’t make money on their own, but operators profit from subsidies. This project has a20-year deal to sell its power to Hydro-Quebec.
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Enbridge paid $170.0 million for its stake in this facility. That’s equal to 63.2% of the $269.0million, or $0.34 a share, that it earned in the three months ended September 30, 2012.
Wind farms don’t make money on their own, but operators profit from subsidies. This project has a20-year deal to sell its power to Hydro-Quebec.
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PENGROWTH ENERGY CORP. $4.97 (Toronto symbol PGF;Aggressive Growth Portfolio, Resources sector; Shares outstanding: 507.1 million; Market cap: $2.5 billion; Price-to-sales ratio: 1.6; Dividend yield: 9.7%; TSI Network Rating: Average;www.pengrowth.com) has agreed to sell its 10.02% interest in the Weburn oil project in Saskatchewan.
The company will receive $315 million when the deal closes by the end of January 2013. It will use the cash to pay down its long-term debt, which was $1.75 billion on September 30, 2012.That’s a high 70% of its market cap.
Pengrowth is a buy.
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The company will receive $315 million when the deal closes by the end of January 2013. It will use the cash to pay down its long-term debt, which was $1.75 billion on September 30, 2012.That’s a high 70% of its market cap.
Pengrowth is a buy.
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IMPERIAL OIL LTD. $43 (Toronto symbol IMO;Conservative Growth Portfolio; Resources sector;Shares outstanding: 847.6 million; Market cap: $36.4billion; Price-to-sales ratio: 1.2; Dividend yield: 1.1%;TSI Network Rating: Average; www.imperialoil.ca)reported that its third quarter earnings jumped21.1%, to $1.0 billion, or $1.22 a share. A year earlier, it earned $859 million, or $1.01 a share.Cash flow per share rose 18.8%, to $1.52 from$1.28, while revenue gained 4.9%, to $8.3 billion from $7.9 billion.
Overall production fell 3.7%, to 285,000 barrels a day from 296,000 a year earlier, due to asset sales and maintenance shutdowns. However, earnings from oil refining and distribution (52% of the total)rose 97.1%.
The company will soon start up its 71%-owned Kearl oil sands project, which will increase its daily production by 78,100 barrels. Exxon Mobil Corp.(New York symbol XOM) owns the remaining29%. Exxon also owns 69.6% of Imperial.
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Overall production fell 3.7%, to 285,000 barrels a day from 296,000 a year earlier, due to asset sales and maintenance shutdowns. However, earnings from oil refining and distribution (52% of the total)rose 97.1%.
The company will soon start up its 71%-owned Kearl oil sands project, which will increase its daily production by 78,100 barrels. Exxon Mobil Corp.(New York symbol XOM) owns the remaining29%. Exxon also owns 69.6% of Imperial.
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SUNCOR ENERGY INC. $33 (Toronto symbol SU; Conservative Growth Portfolio, Resources sector; Shares outstanding: 1.5 billion; Market cap:$49.5 billion; Price-to-sales ratio: 1.3; Dividend yield:1.6%; TSI Network Rating: A v e r a g e ;www.suncor.com) earned $1.3 billion in the quarter ended September 30, 2012. That’s down 27.2%from $1.8 billion a year earlier. Earnings fell 25.4%,to $0.85 a a share from $1.14, on fewer shares outstanding. Revenue declined 7.9%, to $9.6 billion from $10.4 billion. However, cash flow per share rose 2.9%, to $1.78 from $1.73.
Suncor shut down some of its operations for planned maintenance. As a result, its average daily production fell 2.0% in the quarter, to 535,500barrels from 546,000 a year earlier. That more than offset a 47.8% jump in earnings at its refining and marketing division (46% of total earnings).
Suncor recently opened the fourth phase of its six-phase Fire bag oil sands project. This should help it meet its production goal of 540,000 to 580,000barrels a day for all of 2012.
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Suncor shut down some of its operations for planned maintenance. As a result, its average daily production fell 2.0% in the quarter, to 535,500barrels from 546,000 a year earlier. That more than offset a 47.8% jump in earnings at its refining and marketing division (46% of total earnings).
Suncor recently opened the fourth phase of its six-phase Fire bag oil sands project. This should help it meet its production goal of 540,000 to 580,000barrels a day for all of 2012.
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LINAMAR CORP. $25 (Toronto symbol LNR;Aggressive Growth Portfolio, Manufacturing &Industry sector; Shares outstanding: 64.7 million;Market cap: $1.6 billion; Price-to-sales ratio: 0.5;Dividend yield: 1.3%; TSI Network Rating: Extra Risk; www.linamar.com) gets 85% of its revenue by making engines, transmissions and other precision machined parts for automakers. The company has plants in North America, Europe and Asia.
The remaining 15% of Linamar’s revenue comes from its self-propelled, scissor-type elevating work platforms, which it sells under the Skyjack name,plus consumer products, such as lawn mowers and cargo trailers.
Thanks to rising new car sales, particularly in theU.S., Linamar’s earnings jumped 33.3% in the three months ended September 30, 2012, to $0.52 a sharefrom $0.39 a year earlier.
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The remaining 15% of Linamar’s revenue comes from its self-propelled, scissor-type elevating work platforms, which it sells under the Skyjack name,plus consumer products, such as lawn mowers and cargo trailers.
Thanks to rising new car sales, particularly in theU.S., Linamar’s earnings jumped 33.3% in the three months ended September 30, 2012, to $0.52 a sharefrom $0.39 a year earlier.
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EMERA INC. $35 (Toronto symbol EMA; Income Portfolio, Utilities sector; Shares outstanding: 124.7 million; Market cap: $4.4 billion;Price-to-sales ratio: 2.1; Dividend yield: 4.0%; TSI Network Rating:Average; www.emera.com) is buying a biomass plant in Brooklyn,Nova Scotia, from that province’s government. This facility generates power by burning waste wood from nearby lumber mills.
Emera will pay $25 million for the plant when the deal closes in early 2013. That’s equal to 56% of the $44.7 million, or $0.36 a share, that it earned in the third quarter of 2012.
The company gets most of its power from coal-burning plants, so investing in renewable power facilities like this one will help it comply with tougher environmental regulations.
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Emera will pay $25 million for the plant when the deal closes in early 2013. That’s equal to 56% of the $44.7 million, or $0.36 a share, that it earned in the third quarter of 2012.
The company gets most of its power from coal-burning plants, so investing in renewable power facilities like this one will help it comply with tougher environmental regulations.
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PRECISION DRILLING CORP. $8.42(Toronto symbol PD; Aggressive Growth Portfolio, Resource sector; Shares outstanding:276.3 million; Market cap: $2.3 billion; Price-to-sales ratio: 1.1;Dividend yield: 2.4%; TSI Network Rating: Extra Risk;www.precisiondrilling.com) has agreed to build and operate two drilling rigs for Kuwait’s state-owned oil company. The company did not say how much this contract is worth, but the rigs will start up in2014 and run for a five-year term.
This is a small order for Precision, which operates over 325 rigs. Still, this deal will help expand its international operations, which supply just 5% of its total revenue. It should also help Precision win more contracts in the Persian Gulf region.
Precision Drilling is a buy.
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This is a small order for Precision, which operates over 325 rigs. Still, this deal will help expand its international operations, which supply just 5% of its total revenue. It should also help Precision win more contracts in the Persian Gulf region.
Precision Drilling is a buy.
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CANADIAN IMPERIAL BANK OF COMMERCE$82 (Toronto symbol CM; Conservative Growth Portfolio, Finance sector; Shares outstanding: 403.7 million; Market cap: $33.1 billion; Price-to-sales ratio: 1.9; Dividend yield: 4.6%;TSI Network Rating: Above Average; www.cibc.com)has agreed to settle a lawsuit related to the 2008collapse of U.S. investment bank Lehman Brothers.
Bankruptcy trustees sued CIBC and other banks for failing to honor certain financial commitments they made to Lehman. After Lehman failed, CIBC felt it did not have to provide further funds and recognized a gain of $841 million U.S.
CIBC will pay $149.5 million U.S. to settle this lawsuit. To put that in context, the bank earned $3.3billion (Canadian) in fiscal 2012. That’s up 8.5%from $3.0 billion 2011. Earnings per share rose6.6%, to $8.07 from $7.57, on more shares outstanding.
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Bankruptcy trustees sued CIBC and other banks for failing to honor certain financial commitments they made to Lehman. After Lehman failed, CIBC felt it did not have to provide further funds and recognized a gain of $841 million U.S.
CIBC will pay $149.5 million U.S. to settle this lawsuit. To put that in context, the bank earned $3.3billion (Canadian) in fiscal 2012. That’s up 8.5%from $3.0 billion 2011. Earnings per share rose6.6%, to $8.07 from $7.57, on more shares outstanding.
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BANK OF MONTREAL $62 (Toronto symbol BMO; Conservative Growth Portfolio, Finance sector; Shares outstanding: 650.8 million; Market cap: $40.3 billion; Price-to-sales ratio: 1.9; Dividend yield: 4.6%; TSI Network Rating: Above Average;www.bmo.com) earned $4.1 billion in fiscal 2012.That’s up 24.9% from $3.3 billion in 2011.Earnings per share rose 17.6%, to $6.00 from $5.10,on more shares outstanding. These figures exclude integration costs related to U.S. bank Marshall & Ilsley, which Bank of Montreal bought for $4.1billion in stock in July 2011. Revenue rose 15.7%,to $16.1 billion from $13.9 billion.
Earnings at the Canadian banking business (46%of Bank of Montreal’s total earnings) increased0.7%. Low interest rates continue to attract borrowers, but they also hurt the income that the bank of earns on its loans. Marshall & Ilsley pushed up earnings at the bank’s U.S. operations (15% of the total) by 50.1%. Acquisitions also raised revenue at the wealth management division (14%) by 12.3%.
Fewer of the bank’s corporate clients are merging and issuing new stock. Even so, lower income taxes and loan losses pushed up earnings at the securities tradingdivision (25% of the total) by 5.1%.
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Earnings at the Canadian banking business (46%of Bank of Montreal’s total earnings) increased0.7%. Low interest rates continue to attract borrowers, but they also hurt the income that the bank of earns on its loans. Marshall & Ilsley pushed up earnings at the bank’s U.S. operations (15% of the total) by 50.1%. Acquisitions also raised revenue at the wealth management division (14%) by 12.3%.
Fewer of the bank’s corporate clients are merging and issuing new stock. Even so, lower income taxes and loan losses pushed up earnings at the securities tradingdivision (25% of the total) by 5.1%.
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BANK OF NOVA SCOTIA $58 (Toronto symbol BNS; Conservative Growth Portfolio, Finance sector; Shares outstanding: 1.2 billion; Market cap: $69.6billion; Price-to-sales ratio: 2.4; Dividend yield: 3.9%;TSI Network Rating: Above Average;www.scotiabank.com) recently bought ING Direct, which offers a wide variety of no-fee banking services, mainly over the Internet. ING Direct has1.8 million customers and $30 billion of deposits.
At $3.1 billion, this was the biggest purchase in the bank’s history. The price is also equal to 48% of the $6.5 billion that it earned in fiscal 2012. That’s up 21.3% from $5.3 billion in 2011. Earnings per share rose 15.2%, to $5.22 from $4.53, on more shares outstanding. Revenue rose 13.8%, to $19.7billion from $17.3 billion.
Earnings at the Canadian division (30% of the total) rose 16%, thanks to strong loan demand and lower loan-loss provisions. International earnings (28%) rose18%, partly due to its purchase of 51% of Colombia’s fifth largest bank.
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At $3.1 billion, this was the biggest purchase in the bank’s history. The price is also equal to 48% of the $6.5 billion that it earned in fiscal 2012. That’s up 21.3% from $5.3 billion in 2011. Earnings per share rose 15.2%, to $5.22 from $4.53, on more shares outstanding. Revenue rose 13.8%, to $19.7billion from $17.3 billion.
Earnings at the Canadian division (30% of the total) rose 16%, thanks to strong loan demand and lower loan-loss provisions. International earnings (28%) rose18%, partly due to its purchase of 51% of Colombia’s fifth largest bank.
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