stock prices
BANK OF NOVA SCOTIA $60.94 (Toronto symbol BNS; Shares outstanding: 1.2 billion; Market cap: $72.9 billion; TSINetwork Rating: Above Average; Div. yield: 4.1%, www.scotiabank.com) is the third-largest of Canada’s five big banks, with assets of $743.8 billion.
In its fiscal 2013 fourth quarter, which ended October 31, 2013, the bank earned $1.30 a share, up 10.2% from $1.18 a year earlier.
Higher loan demand and an increase in deposits pushed up the Canadian banking division’s earnings by 23.3%. That includes ING Direct, which the bank bought for $3.1 billion in late 2012. This business offers a variety of no-fee banking services, mainly over the Internet. It has 1.8 million customers and $30 billion of deposits.
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In its fiscal 2013 fourth quarter, which ended October 31, 2013, the bank earned $1.30 a share, up 10.2% from $1.18 a year earlier.
Higher loan demand and an increase in deposits pushed up the Canadian banking division’s earnings by 23.3%. That includes ING Direct, which the bank bought for $3.1 billion in late 2012. This business offers a variety of no-fee banking services, mainly over the Internet. It has 1.8 million customers and $30 billion of deposits.
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LEON’S FURNITURE LTD. $15.43 (Toronto symbol LNF; TSINetwork Rating: Average) (416-243-7880; www.leons.ca; Shares outstanding: 70.6 million; Market cap: $1.1 billion; Dividend yield: 2.6%) built its furniture chain on its four main strengths: a huge selection of furniture, appliances and electronics; a lowest-price guarantee; strong after-sales service; and aggressive TV, radio and print advertising.
The company grew by steadily adding new stores until the March 2013 purchase of its main rival, The Brick, for $700 million.
The Brick operates 234 stores across Canada, while Leon’s has 75 in every province except British Columbia....
The company grew by steadily adding new stores until the March 2013 purchase of its main rival, The Brick, for $700 million.
The Brick operates 234 stores across Canada, while Leon’s has 75 in every province except British Columbia....
You may have read about the “scary 1929 market chart” that has been making the rounds on Wall Street. It shows two periods of trading history of the Dow Jones Industrial Average, superimposed one over the other. (You can see the chart in a Mark Hulbert column at www.marketwatch.com) One period covers 1928 and 1929. The Dow had a sharp rise in 1928 and the first three quarters of 1929, followed by the October 1929 market plunge which led into the 1930s depression. The second period on the chart shows the Dow from mid-2012 through today. The two periods are aligned so that the peak in the 1929 market is roughly above the recent peak in today’s market. When you compare the two historical patterns, you can see some vague similarity between the two sets of squiggles. It’s clear that the creator of the chart wants to suggest that history is repeating itself and the Dow is headed for a 1929-1932 style collapse. These “1929-all-over-again” charts have been around for as long as I’ve been in the investment business. The last time I recall one of them gained this much notice was in the first half of 1988. Back then, investors were still rattled by the one-day, 22.5% market plunge that happened on October 19, 1987, sometimes referred to as “Black Monday”....
ROYAL BANK OF CANADA $71 (Toronto symbol RY; Conservative Growth and Income Portfolios, Finance sector; Shares outstanding: 1.4 billion; Market cap: $99.4 billion; Price-to-sales ratio: 2.7; Dividend yield: 3.8%; TSINetwork Rating: Above Average; www.rbc.com) is Canada’s second-largest bank, with $860.8 billion of assets. Royal recently agreed to sell its 13 branches and related operations in Jamaica. The country’s struggling economy has hurt these branches’ profits in the past few years, so selling them frees up cash for Royal to invest in its more promising Caribbean business. The bank will record a one-time loss of $60 million on the deal. Meanwhile, Royal earned $8.4 billion in its 2013 fiscal year, which ended October 31, 2013. That’s up 11.1% from $7.6 billion in 2012. Earnings per share rose 12.4%, to $5.54 from $4.93, on fewer shares outstanding....
In addition to TD (see page 21), we also like the outlook for Canada’s other four big banks. Each has its particular risks, but all are good choices for long-term growth and income.
ROYAL BANK OF CANADA $71 (Toronto symbol RY; Conservative Growth and Income Portfolios, Finance sector; Shares outstanding: 1.4 billion; Market cap: $99.4 billion; Price-to-sales ratio: 2.7; Dividend yield: 3.8%; TSINetwork Rating: Above Average; www.rbc.com) is Canada’s second-largest bank, with $860.8 billion of assets.
Royal recently agreed to sell its 13 branches and related operations in Jamaica....
ROYAL BANK OF CANADA $71 (Toronto symbol RY; Conservative Growth and Income Portfolios, Finance sector; Shares outstanding: 1.4 billion; Market cap: $99.4 billion; Price-to-sales ratio: 2.7; Dividend yield: 3.8%; TSINetwork Rating: Above Average; www.rbc.com) is Canada’s second-largest bank, with $860.8 billion of assets.
Royal recently agreed to sell its 13 branches and related operations in Jamaica....
IGM FINANCIAL INC. $55 (Toronto symbol IGM; Conservative Growth Portfolio, Finance sector; Shares outstanding: 252.3 million; Market cap: $13.9 billion; Price-to-sales ratio: 5.3; Dividend yield: 3.9%; TSINetwork Rating: Above Average; www. igmfinancial.com) is Canada’s largest independent mutual fund company....
For the second consecutive year we’ve picked Bank of Nova Scotia as our #1 safety-conscious pick. We looked at a number of stocks this year, including Great-West Lifeco (see right), but Bank of Nova Scotia was still a clear choice. Its shares have dropped lately along with the market, but we think it will rebound and move higher.
BANK OF NOVA SCOTIA $60.94 (Toronto symbol BNS; Shares outstanding: 1.2 billion; Market cap: $72.9 billion; TSINetwork Rating: Above Average; Div....
BANK OF NOVA SCOTIA $60.94 (Toronto symbol BNS; Shares outstanding: 1.2 billion; Market cap: $72.9 billion; TSINetwork Rating: Above Average; Div....
BMTC GROUP $14.45 (Toronto symbol GBT.A; TSINetwork Rating: Extra Risk) (514-648-5757; No website; Shares outstanding: 45.5 million; Market cap: $654.7 million; Dividend yield: 1.7%) is one of Quebec’s biggest retailers of furniture, electronics and appliances, with 33 outlets. It mainly sells these products through its two affiliates: Brault & Martineau and Ameublements Tanguay.
In March 2012, BMTC introduced a new banner, EconoMax, which offers lower-priced products. The company rebranded four outlets that had operated as Brault & Martineau liquidation centres.
It opened four more EconoMax stores in 2013, including in Ste-Eustache and Laval in the latest quarter. In the three months ended September 30, 2013, the company’s sales fell 4.2%, to $187.3 million from $195.6 million a year earlier. It earned $0.34 a share in the latest quarter, down 12.8% from $0.39 a share a year ago.
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In March 2012, BMTC introduced a new banner, EconoMax, which offers lower-priced products. The company rebranded four outlets that had operated as Brault & Martineau liquidation centres.
It opened four more EconoMax stores in 2013, including in Ste-Eustache and Laval in the latest quarter. In the three months ended September 30, 2013, the company’s sales fell 4.2%, to $187.3 million from $195.6 million a year earlier. It earned $0.34 a share in the latest quarter, down 12.8% from $0.39 a share a year ago.
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In the February 2013 issue of Canadian Wealth Advisor, we named Bank of Nova Scotia our #1 safety-conscious pick for 2013 at $58.80 a share. The stock hit all-time highs and by the end of the year it had risen by 12.9%, or 16.8% including dividends. We think it has further gains ahead....
BANK OF NOVA SCOTIA $64.40 (Toronto symbol BNS; Shares outstanding: 1.2 billion; Market cap: $77.9 billion; TSINetwork Rating: Above Average; Div. yield: 3.9%, www.scotiabank.com) is the third-largest of Canada’s five big banks, with assets of $743.8 billion.
In its fiscal 2013 fourth quarter, which ended October 31, 2013, the bank earned $1.30 a share, up 10.2% from $1.18 a year earlier.
Higher loan demand and an increase in deposits pushed up the Canadian banking division’s earnings by 23.3%. That includes the contribution from ING Direct, which Bank of Nova Scotia bought for $3.1 billion in late 2012. ING Direct offers a variety of no-fee banking services, mainly over the Internet. It has 1.8 million customers and $30 billion of deposits.
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In its fiscal 2013 fourth quarter, which ended October 31, 2013, the bank earned $1.30 a share, up 10.2% from $1.18 a year earlier.
Higher loan demand and an increase in deposits pushed up the Canadian banking division’s earnings by 23.3%. That includes the contribution from ING Direct, which Bank of Nova Scotia bought for $3.1 billion in late 2012. ING Direct offers a variety of no-fee banking services, mainly over the Internet. It has 1.8 million customers and $30 billion of deposits.
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