Continue reading Three Canadian Investments for 2011

Three Canadian Investments for 2011 originally appeared on BloggingStocks on Tue, 07 Sep 2010 15:40:00 EST. Please see our terms for use of feeds.

Three of Canada's big five banks reported quarterly results last week. Canadian Imperial Bank of Commerce's (CM) profit surged, topping consensus estimates. However, Royal Bank of Canada (RY) missed estimates for the fourth straight time. And though Bank of Montreal's (BMO) net income grew, it too fell short of expectations.

So what does that do for expectations for Bank of Nova Scotia (BNS) and Toronto-Dominion (TD), which are scheduled to report this week?

Continue reading Earnings Previews: Bank of Nova Scotia and Toronto-Dominion

Earnings Previews: Bank of Nova Scotia and Toronto-Dominion originally appeared on BloggingStocks on Mon, 30 Aug 2010 15:00:00 EST. Please see our terms for use of feeds.

Analysts surveyed by Thomson Reuters are looking for EPS for these banks to have fallen from 15% to 25% from a year ago. Their long-term EPS growth forecast is for between 10% and 12%, which is in the same range as U.S. rivals JPMorgan Chase & Co. (NYSE: JPM) and Wells Fargo & Co. (NYSE: WFC), but better than Bank of America Corp. (NYSE: BAC) and Citigroup Inc. (NYSE: C). Earnings multiples for these Canadian banks are 10x to 12x, but none of them have a First Call consensus recommendation is to buy. The Motley Fool, though, considers TD as a value stock and RY a stock poised to pop. All of them are trading much closer to their 52-week highs than lows, and shares of all are up more than 100% since March lows.

Continue reading The week in preview: Canadian banks in the earnings spotlight

The week in preview: Canadian banks in the earnings spotlight originally appeared on BloggingStocks on Sun, 23 Aug 2009 12:30:00 EST. Please see our terms for use of feeds.

Last week, Bank of Montreal (NYSE: BMO), one of Canada's oldest and largest banks, reported growth in its fiscal fourth-quarter earnings. But it may be the only one that does, as at least two of the Canadian banks scheduled to report fourth-quarter numbers this week have already released preliminary results that warn of lower earnings due to debt write-downs and trading losses.

Analysts surveyed by Thomson Reuters expect Toronto-based Canadian Imperial Bank of Commerce (NYSE: CM) to post earnings 42.6% lower than a year ago, or $1.28 per share. CIBC beat estimates by a penny in the third quarter, but missed by a penny in the period before that. The bank faces a class-action lawsuit related to investments in collateralized debt obligations consisting of U.S. subprime mortgages. Shares have climbed 20.7% from a recent 52-week low of $39.52, but are down 37.8% in the past three months.

Toronto Dominion Bank (NYSE: TD), Bank of Nova Scotia (NYSE: BNS), and Royal Bank of Canada (NYSE: RY) are expected to report more modest earnings declines of $1.01 per share, $0.73 per share, and $0.83 per share, respectively. All three Toronto-based banks topped estimates in the third quarter. Toronto Dominion and RBC have recently announced plans to offer shares in order to raise capital. Toronto Dominion and Scotiabank have been trading near 52-week lows, and their share prices are down around 39% in the past three months. But only Toronto Dominion has a consensus buy recommendation from analysts.

Continue reading The week in preview: Canadian banks, homebuilders, Sears and food producers

The week in preview: Canadian banks, homebuilders, Sears and food producers originally appeared on BloggingStocks on Sun, 30 Nov 2008 12:30:00 EST. Please see our terms for use of feeds.

Results for the tech stocks in last week's preview were a mixed bag, some beats, some misses, some in line. By and large, expectations for tech companies reporting results this week remain high, though. Here's what analysts surveyed by Thomson Financial are anticipating in the way of earnings, as compared to the same period of the previous year.

• Solarfun Power Holdings Co. Ltd. (NASDAQ: SOLF): $1.48 EPS (+73.0%) on sales of $1.3 billion (+171.0%)
• Marvell Technology Group Ltd. (NASDAQ: MRVL): $0.21 EPS (+71.4%) on sales of $836.7 million (+27.4%)
• Solera Holdings Inc. (NYSE: SLH): $0.29 EPS (+51.7%) on sales of $137.0 million (+11.8%)
• Applied Signal Technology Inc. (NASDAQ: APSG): $0.14 EPS (+42.9%) on sales of $46.4 million (+17.4%)
• China Finance Online Co. Ltd. (NASDAQ: JRJC): $0.14 EPS (+42.6%) on sales of $13.3 million (+131.5%)
• OSI Systems Inc. (NASDAQ: OSIS): $0.38 EPS (+36.8%) on sales of $162.0 million (+6.0%)
• LaBarge Inc. (AMEX: LB): $0.27 EPS (+33.3%) on sales of $71.6 million (+10.4%)
• Esterline Technologies Corp. (NYSE: ESL): $0.69 EPS (+11.6%) on sales of $374.6 million (+14.8%)
• Dell Inc. (NASDAQ: DELL): $0.36 EPS (+11.1%) on sales of $15.9 billion (+7.8%)
• HEICO Corp. (NYSE: HEI): $0.46 EPS (+13.0%) on sales of $147.1 million (+10.5%)
• Daktronics Inc. (NASDAQ: DAKT): $0.17 EPS (flat) on sales of $141.5 million (+17.0%)
• Novell Inc. (NASDAQ: NOVL): $0.05 EPS (flat) on sales of $241.4 million (-0.7%)
• Omnivision Technologies Inc. (NASDAQ: OVTI): $0.29 EPS (-17.1%) on sales of $172.5 million (-0.4%)
• Sigma Designs Inc. (NASDAQ: SIGM): $0.39 EPS (-18.8%) on sales of $58.7 million (+37.9%)

Continue reading The week in preview: Earnings expectations for techs, Canadian banks

The week in preview: Earnings expectations for techs, Canadian banks originally appeared on BloggingStocks on Sun, 24 Aug 2008 12:30:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Thomas Weisel downgraded Motorola Inc (NYSE: MOT) to Market Weight from Overweight based on the general uncertainty in the company's core markets and the likelihood that the spin off may not occur for several quarters.
• Piper believes Williams-Sonoma Inc (NYSE: WSM) faces a challenging environment, and their checks reveal weakness at Pottery Barn. Shares were cut to Neutral from Buy.
• ThinkPanmure downgraded Synchronoss Technologies Inc (NASDAQ: SNCR) to Accumulate from Buy. The firm expects a strong Q1 report but expects shares to sell-off following the Q1 conference call due to modest guidance and the lack of a major customer win announcement.

• RBC Capital downgraded Bank of Nova Scotia Halifax (NYSE: BNS) to Underperform from Sector Perform.
• JP Morgan cut The Goodyear Tire & Rubber Company (NYSE: GT) to Neutral from Overweight.
• Goldman removed Potash Corporation of Saskatchewan Inc (NYSE: POT) from its Conviction Buy List.

Analyst downgrades: MOT, WSM, GT, POT and SNCR originally appeared on BloggingStocks on Mon, 28 Apr 2008 11:11:00 EST. Please see our terms for use of feeds.