price to sales ratio
METRO INC. $58 (Toronto symbol MRU; Aggressive Growth Portfolio, Consumer sector; Shares outstanding: 97.1 million; Market cap: $5.6 billion; Price-to-sales ratio: 0.5; Dividend yield: 1.5%; TSINetwork Rating: Average; www.metro.ca) continues to benefit from its October 2011 purchase of a 55% stake in Marché Adonis, which sells Mediterranean-style foods through five stores in Quebec. It also distributes foods to other retailers through warehouses in Montreal and Toronto.
In its fiscal 2012 third quarter, which ended July 2, 2012, Metro’s sales rose 3.8%, to $3.7 billion from $3.6 billion a year earlier. Marché added $81.3 million to Metro’s sales in the latest quarter. A new loyalty rewards program in Quebec and the company’s focus on fresh products are also encouraging repeat visits. Same-store sales rose 1.0% at its 600 supermarkets in Quebec and Ontario.
The higher sales helped increase Metro’s earnings by 16.0%, to $147.4 million from $127.1 million. Earnings per share rose 18.7%, to $1.46 from $1.23, on fewer shares outstanding.
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In its fiscal 2012 third quarter, which ended July 2, 2012, Metro’s sales rose 3.8%, to $3.7 billion from $3.6 billion a year earlier. Marché added $81.3 million to Metro’s sales in the latest quarter. A new loyalty rewards program in Quebec and the company’s focus on fresh products are also encouraging repeat visits. Same-store sales rose 1.0% at its 600 supermarkets in Quebec and Ontario.
The higher sales helped increase Metro’s earnings by 16.0%, to $147.4 million from $127.1 million. Earnings per share rose 18.7%, to $1.46 from $1.23, on fewer shares outstanding.
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GREAT-WEST LIFECO INC. $22 (Toronto symbol GWO; Conservative Growth Portfolio, Finance sector; Shares outstanding: 949.8 million; Market cap: $20.9 billion; Price-to-sales ratio: 0.7; Dividend Yield: 5.6%; TSINetwork Rating: Above Average; www.greatwestlifeco.com) is Canada’s largest insurance company, with $523.6 billion of assets under administration. It also sells mutual funds and retirement planning and wealth management services. Power Financial Corp. (Toronto symbol PFC) owns 68.2% of Great-West.
Top brands are a big plus
In Canada, the company sells its products under several well-known banners, including Great West Life, Canada Life and Freedom 55. The Canadian division supplies 51% of Great-West’s earnings.
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Top brands are a big plus
In Canada, the company sells its products under several well-known banners, including Great West Life, Canada Life and Freedom 55. The Canadian division supplies 51% of Great-West’s earnings.
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TORONTO-DOMINION BANK $81 (Toronto symbol TD; Conservative Growth Portfolio, Finance sector; Shares outstanding: 911.7 million; Market cap: $73.8 billion; Price-to-sales ratio: 2.5; Dividend yield: 3.8%; TSINetwork Rating: Above Average; www.td.com) earned $1.8 billion in the quarter ended July 31, 2012. That’s up 11.3% from $1.6 billion a year earlier. Earnings per share rose 9.1%, to $1.91 from $1.75, on more shares outstanding. Revenue rose 8.5%, to $5.8 billion from $5.4 billion.
Low interest rates continue to spur loan demand. As well, last year’s purchases of MBNA’s Canadian credit card operations and Chrysler Financial, which provides car loans to buyers of Chrysler vehicles, also contributed to the higher earnings.
The bank set aside $438 million to cover bad loans in the latest quarter, up 15.3% from $380 million. However, that’s mainly due to the extra loans from the MBNA purchase.
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Low interest rates continue to spur loan demand. As well, last year’s purchases of MBNA’s Canadian credit card operations and Chrysler Financial, which provides car loans to buyers of Chrysler vehicles, also contributed to the higher earnings.
The bank set aside $438 million to cover bad loans in the latest quarter, up 15.3% from $380 million. However, that’s mainly due to the extra loans from the MBNA purchase.
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POTASH CORP. OF SASKATCHEWAN $41 (Toronto symbol POT; Aggressive Growth Portfolio, Resources sector; Shares outstanding: 859.1 million; Market cap: $35.2 billion; Price-to-sales ratio: 4.2; Dividend yield: 1.3%; TSINetwork Rating: Average; www.potashcorp.com) expects global potash demand to rise to between 56 million tonnes and 60 million tonnes in 2013 from 53 million tonnes in 2012.
The recent drought in the U.S. has pushed up prices for wheat, corn and other crops. That’s prompting farmers to apply more fertilizer to increase their crop yields.
However, potash inventories have risen lately as big buyers like China and India negotiate new supply contracts. In response, the company will shut down its main potash mine in Saskatchewan for one month.
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The recent drought in the U.S. has pushed up prices for wheat, corn and other crops. That’s prompting farmers to apply more fertilizer to increase their crop yields.
However, potash inventories have risen lately as big buyers like China and India negotiate new supply contracts. In response, the company will shut down its main potash mine in Saskatchewan for one month.
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TIM HORTONS INC. $50 (Toronto symbol THI; Aggressive Growth Portfolio, Consumer sector; Shares outstanding: 154.9 million; Market cap: $7.7 billion; Price-to-sales ratio: 2.6; Dividend yield: 1.7%; TSINetwork Rating: Average; www.timhortons.com) aims to take advantage of fastgrowing interest in home coffee systems.
Under a new agreement, Kraft Foods Inc. (Nasdaq symbol KFT) and Tim Hortons will make and sell plastic cups, called T-Discs, filled with Tim Hortons coffee and sealed with a foil top. Kraft’s Tassimo beverage machine pierces the foil and brews a fresh single cup. The Tassimo system also scans a barcode on the T-Disc that tells it how much water to use, how long to brew the coffee and how hot it should be.
Tim Hortons plans to start selling T-Discs online and in its 3,000 Canadian outlets in October 2012.
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Under a new agreement, Kraft Foods Inc. (Nasdaq symbol KFT) and Tim Hortons will make and sell plastic cups, called T-Discs, filled with Tim Hortons coffee and sealed with a foil top. Kraft’s Tassimo beverage machine pierces the foil and brews a fresh single cup. The Tassimo system also scans a barcode on the T-Disc that tells it how much water to use, how long to brew the coffee and how hot it should be.
Tim Hortons plans to start selling T-Discs online and in its 3,000 Canadian outlets in October 2012.
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BANK OF NOVA SCOTIA $53 (Toronto symbol BNS; Conservative Growth Portfolio, Finance sector; Shares outstanding: 1.1 billion; Market cap: $58.3 billion; Price-to-sales ratio: 2.2; Dividend yield: 4.3%; TSINetwork Rating: Above Average; www.scotiabank.com) continues to build on its extensive international operations....
RIOCAN REAL ESTATE INVESTMENT TRUST $28 (Toronto symbol REI.UN; Aggressive Growth Portfolio, Manufacturing & Industry sector; Units outstanding: 263.4 million; Market cap: $7.4 billion; Price-to-sales ratio: 5.2; Dividend yield: 4.9%; TSINetwork Rating: Average; www.riocan.com) is ending its joint venture with Cedar Shopping Centers (New York symbol CDR). RioCan holds 80% of this venture, which owns 22 malls in the U.S.
Under the terms of the deal, RioCan will buy Cedar’s 20% stake in 21 malls, while Cedar will buy RioCan’s 80% stake in another mall. RioCan will pay Cedar $39.0 million. That’s equal to 37% of its second quarter cash flow of $106.0 million, or $0.37 a unit.
RioCan is a buy.
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Under the terms of the deal, RioCan will buy Cedar’s 20% stake in 21 malls, while Cedar will buy RioCan’s 80% stake in another mall. RioCan will pay Cedar $39.0 million. That’s equal to 37% of its second quarter cash flow of $106.0 million, or $0.37 a unit.
RioCan is a buy.
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LOBLAW COMPANIES LTD. $35 (Toronto symbol L; Conservative Growth Portfolio, Consumer sector; Shares outstanding: 281.4 million; Market cap: $9.8 billion; Price-to-sales ratio: 0.3; Dividend yield: 2.4%; TSINetwork Rating: Above Average; www.loblaw.ca) recently formed a partnership with J.C. Penney (New York symbol JCP).
Under this deal, Loblaw will build Joe Fresh casual-clothing boutiques inside 700 of Penney’s 1,100 department stores in the U.S. These outlets should open in April 2013. Penney will also sell Joe Fresh products through its website.
As well, Loblaw continues to invest in new computers as part of a plan to improve its efficiency and avoid product shortages in its supermarkets. In the three months ended June 16, 2012, the company spent $20 million on these initiatives. That’s the main reason why its earnings fell 19.3% in the quarter, to $159 million, or $0.56 a share, from $197 million, or $0.69 a share, a year earlier.
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Under this deal, Loblaw will build Joe Fresh casual-clothing boutiques inside 700 of Penney’s 1,100 department stores in the U.S. These outlets should open in April 2013. Penney will also sell Joe Fresh products through its website.
As well, Loblaw continues to invest in new computers as part of a plan to improve its efficiency and avoid product shortages in its supermarkets. In the three months ended June 16, 2012, the company spent $20 million on these initiatives. That’s the main reason why its earnings fell 19.3% in the quarter, to $159 million, or $0.56 a share, from $197 million, or $0.69 a share, a year earlier.
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FINNING INTERNATIONAL INC. $24 (Toronto symbol FTT; Conservative Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 171.9 million; Market cap: $4.1 billion; Price-to-sales ratio: 0.6; Dividend yield: 2.3%; TSINetwork Rating: Above Average; www.finning.com) sells, rents and repairs heavy equipment, such as tractors, bulldozers and trucks, made by Caterpillar Inc. (New York symbol CAT). Finning’s major customers are in the mining, forest products and construction industries in Western Canada, the U.K. and South America.
In July 2011, Caterpillar bought Milwaukee based Bucyrus International, which makes equipment that is used for mining and in the development of the oil sands.
In May 2012, Finning paid Caterpillar $305.8 million U.S. for Bucyrus’s distribution and support businesses in South America and the U.K. The company will buy Bucyrus’s Canadian operations for $159.2 million U.S. in October 2012.
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In July 2011, Caterpillar bought Milwaukee based Bucyrus International, which makes equipment that is used for mining and in the development of the oil sands.
In May 2012, Finning paid Caterpillar $305.8 million U.S. for Bucyrus’s distribution and support businesses in South America and the U.K. The company will buy Bucyrus’s Canadian operations for $159.2 million U.S. in October 2012.
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ENBRIDGE INC. $38 (Toronto symbol ENB; Conservative Growth Portfolio, Utilities sector; Shares outstanding: 797.1 million; Market cap: $30.3 billion; Price-to-sales ratio: 1.3; Dividend yield: 3.0%; TSINetwork Rating: Above Average; www.enbridge.com) plans to spend $600 million to expand its natural gas distribution system in the Greater Toronto Area. To put this figure in context, Enbridge earned $653 million, or $0.86 a share, in the first half of 2012.
These upgrades will help the company sell more gas in the fast-growing communities outside Toronto. Enbridge aims to complete this project in 2015.
Enbridge is a buy.
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These upgrades will help the company sell more gas in the fast-growing communities outside Toronto. Enbridge aims to complete this project in 2015.
Enbridge is a buy.
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