Opinions
Tim Regan
AGF Management (B)
AGF.B-T
DON'T BUY
Sep 06, 2018
$5.980
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TOP PICK
Stockchase Research Editor: Michael O'Reilly This Canadian based financial service provider, with $43 billion under management, is reiterated as a TOP PICK. It has diversified out to include alternative investment products -- bespoke investment beyond traditional stocks and bonds. It trades at only 4x earnings compared to peers at 9x, is trading below book value, and has no long term debt. It pays a good dividend, backed by a payout ratio of under 55% of cash flow. We recommend trailing up the stop to $6.50, looking to achieve $9.75 -- over 16% upside. Yield 4.45%
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TOP PICK
Stockchase Research Editor: Michael O’Reilly We again reiterate AGF.B, a Canadian based financial service provider with growing assets under management, as a TOP PICK. Recently reported earnings showed a healthy 35% increase in net sales. It trades at 14x earnings compared to peers at 25x and is trading below book value. It pays a good dividend, backed by a payout ratio of under 65% of cash flow. We recommend trailing up the stop (from $6.50) to $6.85, looking to achieve $9.00 -- over 15% upside. Yield 4.79% (Analysts’ price target is $8.80)
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PAST TOP PICK
(A Top Pick Mar 29/22, Down 10%)Stockchase Research Editor: Michael O'Reilly Our PAST TOP PICK with AGF.B has triggered its stop at $6.85. To remain disciplined we recommend covering the position at this time. This will result in a net investment loss of 16%, when combined with the previous buy recommendations.
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DON'T BUY
AGF.B vs. GWO
His preference is for quality. He likes POW, which owns GWO, for dividend growth and share buybacks. AGF.B might have higher return potential because it's smaller with more volatility, but POW will give him a higher Sharpe ratio over the long term because it's not as volatile.
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He has owned it in the past and sold a while ago because the share price dropped. The big issue is that they have a lot of margin pressure facing them. They are struggling against a tide. The share price is cheap but you need to look at where the industry is going.