Updating BMTC Group, Mitel Networks, Colliers International Group

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BMTC GROUP $14.81 (Toronto symbol GBT; TSINetwork Rating: Extra Risk) (514-648-5757; No website; Shares outstanding: 35.5 million; Market cap: $520.8 million; Dividend yield: 1.6%) is one of Quebec’s largest retailers of furniture, electronics and household appliances; it has 38 stores. The company mainly sells these items through two chains: Brault & Martineau, and Ameublements Tanguay. BMTC will continue to aggressively repurchase its shares. Stock buybacks reduce the total number of shares outstanding. That boosts earnings per share since profit is divided among fewer shares. Higher per-share earnings makes the stock more attractive to investors and that helps to increase share prices. Over the last year, the company bought back 1.7 million of its common shares at an average price of $15.24 each. There are now 35.1 million shares outstanding. Over the next year, BMTC intends to repurchase up to 5% of the current number of shares outstanding. BMTC Group is a hold. MITEL NETWORKS $12.75 (Toronto symbol MNW; TSINetwork Rating: Extra Risk) (613-592-2122; www.mitel.ca; Shares outstanding: 120.3 million; Market cap:…