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Compiling comments that experts make about stocks while on public TV.

Recent Opinions

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Date Signal Company Expert Opinion Price
2016-09-23 N/A A Comment -- General Comments From an Expert
A Commentary
Greg Newman

Market. Valuations are really high, and it is really hard to be buying. Trump closing in on Hillary is not good. However, stocks are far cheaper than bonds and many asset classes. Thinks we are in a situation where 2 things are happening. We can still have multiple expansion because we are in this low interest rate environment for a very long period of time. Also, we are hearing better news and seeing good barometers, such as FedEx as a bellwether, as well as better volumes on rails. That could be supporting some top line expansion, which we really haven’t seen for the last couple of years. You have to be very careful and selective in what you buy. Stocks are still a good deal if you buy them at the right time. Feels the market still has an upward bias if Hillary still leads in the polls. Of the 2, Trump would probably be in favour of stimulus spending, but both of them will do a lot of that. That is what is needed to get us out of this very low interest rate environment, which will take many, many years.


Price: $0.020
Subject: CANADIAN DIVIDEND & DEFENSIVE STRATEGIES
Bias: UNKNOWN
Owned: _N/A
2016-09-23 COMMENT A Comment -- General Comments From an Expert
A Commentary
Greg Newman

A vehicle for holding cash while waiting for an opportunity? He would recommend a high interest savings account or a Money market account.


Price: $0.020
Subject: CANADIAN DIVIDEND & DEFENSIVE STRATEGIES
Bias: UNKNOWN
Owned: Unknown
2016-09-23 COMMENT A Comment -- General Comments From an Expert
A Commentary
Greg Newman

Oil sands pipelines. Native communities just made a strong showing as opposing this. Ultimately that stuff matters, but is not sure that this is going to be the thing that moves the needle. He is of the view that what will drive these will ultimately be the price of the commodity.


Price: $0.020
Subject: CANADIAN DIVIDEND & DEFENSIVE STRATEGIES
Bias: UNKNOWN
Owned: Unknown
2016-09-23 N/A A Comment -- General Comments From an Expert
A Commentary
John Stephenson

Market. He didn’t think anyone really thought the US Fed was going to raise rates. This has re-accelerated the game that has been going on in the market for a long time, will they or won’t they. As we approach the 4th quarter and the December meeting, people are really beginning to wonder is this really going to happen given as to how cautious they are. Also, the economy seems to be slowing in the US. The economic data started to deteriorate a couple of weeks before, and with the 3rd and 4th quarter looking weaker than at the beginning of the year, it may be a challenge to raise rates this year, which would be very significant because it would just keep the uncertainty going. While it has inflated asset prices somewhat, it has also increased volatility. Thinks investors should just keep playing the strategy of trying to find equities that pay nice dividends and try to get a yield that way.


Price: $0.020
Subject: NORTH AMERICAN - LARGE & RESOURCE
Bias: UNKNOWN
Owned: _N/A
2016-09-23 COMMENT A Comment -- General Comments From an Expert
A Commentary
John Stephenson

Telcos. If interest rates were to go up, would you sell, and repurchase them later? If interest rates were to go up, yes he would sell them, but with the Fed delaying a rate hike, you could leave this for at least 2-3 months. Maybe sell them in December, because the probability is quite high that the Fed will raise rates finally, and it will be a selloff much like it was last year. He would start selling Canadian holdings first and US holdings a little bit later.


Price: $0.020
Subject: NORTH AMERICAN - LARGE & RESOURCE
Bias: UNKNOWN
Owned: Unknown
2016-09-23 COMMENT A Comment -- General Comments From an Expert
A Commentary
John Stephenson

Cdn$ short and long-term? Long-term, it is very highly correlated with oil prices, and for the first 6 months of this year, it pretty well walked in lockstep with oil. In the last month or 2, it kind of divorced from that and did its own thing. Today, there was a very big move. Overall the direction is down. It won’t be dramatically down because it had a bit of a selloff. Thinks we are looking at $1.33, maybe by year-end. It is not likely to improve as our economy is weaker.


Price: $0.020
Subject: NORTH AMERICAN - LARGE & RESOURCE
Bias: UNKNOWN
Owned: Unknown
2016-09-23 COMMENT A Comment -- General Comments From an Expert
A Commentary
John Stephenson

Why are pipelines, utilities and telcos affected by interest rates? The reason is, they have very little growth and tend to pay out earnings in the form of dividends. As a result, because rates are so low, those companies, cash flows and dividends have become so prized right now that investors are trading at a premium to the market. In Canada, a 1% move typically corresponds to a 10% reduction in price on pipelines and utilities. However, that doesn’t really impact companies until you get to a certain threshold level of around 3.5% of a bank of Canada rate 10-year.


Price: $0.020
Subject: NORTH AMERICAN - LARGE & RESOURCE
Bias: UNKNOWN
Owned: Unknown
2016-09-23 TOP PICK Aecon Group Inc
ARE-T
Greg Newman

A beneficiary of very rich infrastructure spending at all government levels. Very strong backlog in their energy segment, where a lot of people are staying away because it is a big component of their business. They have nuclear opportunities such as the Darlington win last year. There are a lot of additional opportunities from Candu sites. Has a decent dividend with a very low payout ratio. He models 22% cash flow per share growth each and every year for the next couple of years. This is cheap, relative to its 5-year average. Dividend yield of 2.56%.


Price: $17.980
Subject: CANADIAN DIVIDEND & DEFENSIVE STRATEGIES
Bias: UNKNOWN
Owned: Yes
2016-09-23 SELL Bird Construction Income Fund
BDT-T
John Stephenson

Management has said 2017 will be a transition year for them. Part of the issue has been a declining backlog in business and declining commodity prices. Thinks the stock is going to be challenged over the next 6 months to a year. This is one that he would rather be Selling or avoiding for the next year. Payout ratio by the middle of next year should spike out at 132%, which is a bit of a worry. Also, are they going to have a dividend.


Price: $11.290
Subject: NORTH AMERICAN - LARGE & RESOURCE
Bias: UNKNOWN
Owned: No
2016-09-23 BUY Brookfield Infrastucture Partners
BIP.UN-T
Greg Newman

Payout ratio is around 60%-70%. They want to raise their distributions 11%-13% annually. Just upped the dividend by 3.5%. He is modelling that they can grow their AFFO 18% compounded annually. The only bad thing is that you have to pay up for this. Right now it is trading at around 14X 2016 earnings versus a 5-year average of around 13.8.


Price: $45.520
Subject: CANADIAN DIVIDEND & DEFENSIVE STRATEGIES
Bias: UNKNOWN
Owned: Unknown
2016-09-23 COMMENT Baytex Energy Corp
BTE-T
John Stephenson

Short or Buy? Shorting is always difficult, because the window is quite small, especially for something that is as volatile as crude oil. If you are looking at a multiyear scenario for Holding it, then you are probably okay buying it now. Wait for the next week or so for it to fall. It has a relatively high debt load.


Price: $5.090
Subject: NORTH AMERICAN - LARGE & RESOURCE
Bias: UNKNOWN
Owned: Unknown
2016-09-23 COMMENT Cameco Corporation
CCO-T
Greg Newman

This has been a house of pain for so very long. Their Cigar lake operation is now operating in very good stead. Unfortunately, the price of uranium is killing them. Doesn’t think that that will prevail forever. A good, long term, blue-chip name you want to accumulate when it is completely out of favour, which is right now. You can sell Puts and oblige yourself to own it at $10 between now and December and maybe make $1. Eventually this will be worth a lot more.


Price: $11.630
Subject: CANADIAN DIVIDEND & DEFENSIVE STRATEGIES
Bias: UNKNOWN
Owned: Unknown
2016-09-23 COMMENT Canfor Corp
CFP-T
John Stephenson

Valuation is very cheap. Lumber is a hugely contentious issue between Canada and the US, which is one of the problems this industry faces. Also, household formations have changed and many generations are just opting to live in condos, etc. There are under 1 million units currently in the US versus 1.4 million historically. He doesn’t think this is going to pick up meaningfully. Any little uptick will be positive for it.


Price: $14.480
Subject: NORTH AMERICAN - LARGE & RESOURCE
Bias: UNKNOWN
Owned: Unknown
2016-09-23 COMMENT Chemtrade Logisitics Inc.
CHE.UN-T
Greg Newman

(Market Call Minute.) A good little company that is paying a good sustainable dividend. You are getting about a 6% distribution which is nice. Not a lot of catalysts for growth right now. They are talking about maybe buying Canexus (CUS-T). You buy it while there is not a lot of growth because that catalyst is going to come at some point.


Price: $18.190
Subject: CANADIAN DIVIDEND & DEFENSIVE STRATEGIES
Bias: UNKNOWN
Owned: Unknown
2016-09-23 COMMENT CI Financial Corp
CIX-T
Greg Newman

Have had some weak mandates over the last 12-18 months, and some sizable institutional outflows. There are a lot of mutual fund headwinds, but thinks these are more than captured in the valuations. Trading around 13X versus its 18X five-year average. His analysts model 80% growth in 2017 over 2016. There is $1 billion of institutional commitment that could come on over the next two quarters. They have a buy back which helps them. Good 5.5% very well covered dividend yield. Cheap enough that you could write a Put and get paid premiums. This is good here for a nice little trade.


Price: $25.320
Subject: CANADIAN DIVIDEND & DEFENSIVE STRATEGIES
Bias: UNKNOWN
Owned: Unknown
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