Fortis NV (FORSY-NL) Buy, Sell or Hold

Fortis NV (FORSY-NL)

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DON'T BUY

Has heartburn from its ABN Amro acquisition last June. Had another $2 billion write-down on CDO exposure and also had to sell assets to appease regulators. Scrapped the dividend and paid stock instead. This will create a huge dilution and earnings will probably be flat for the next couple of years. He sold his holdings.

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COMMENT

Involved with the Royal Bank of Scotland in the ABN-Amro deal and took over the retail business in the Netherlands. They have to integrate this, which is a longer-term process and could hold back the stock. If they meet all their targets they will do well over a longer period of time.

PAST TOP PICK

(A Top Pick June 22/07. Down 40%.) Belgian bank. Started buying more shares when the dividend was increased about 3 weeks ago. Still a Buy.

BUY

Basically went down because of the takeover on the rights issue. 7% yield. With the ABN acquisition, they get the Dutch operations, which will be very good for them. Very limited sub prime exposure. A tremendous buying opportunity.

BUY

(Euronext Brussels and Euronext Amsterdam exchanges.) Likes the company. Yields 5.47%. Very cheap at 8 X forward earnings.

TOP PICK

(Not available on North American exchanges.) Bank and insurance companies in Europe. 5.25% dividend yield. PE ratio is about 10 X earnings. Very deep value play.

BUY

Under a new management team and is extremely well done. Shares have come off, because they are attempting a takeover, but is well worth it at this level. dividend is 5.3.

BUY

A Belgian bank/insurance company. Dividend yield of about 3.6% and interest rates are about 3.4%, so you are getting the same yield with the prospect of capital appreciation.

TOP PICK

Yields about 4.5%. Insurance as well as banking in Europe and China. Likes the long term prospects.

BUY

Even with the big run it has had, it is still fair value.

TOP PICK

Belgium bank. The leading dental health insurer in North America and insurance in Asia/Europe. Yielding 5%.

PAST TOP PICK

(A Top Pick Aug 3/05. Up 32%.) Still likes. Dividends have been growing almost 20% a year. Yield of about 4.5%. Still likes and would recommend it as a buy.

TOP PICK

Starting to grow out in eastern Europe where the big growth is occurring. The euro has been rising faster against the US$ than the Cnd$. A nice natural way to hedge your portfolio. 4% dividend.

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Fortis NV (FORSY-NL) Frequently Asked Questions

What is Fortis NV stock symbol?

Fortis NV is a OTC stock, trading under the symbol FORSY-NL on the undefined (undefined). It is usually referred to as or FORSY-NL

Is Fortis NV a buy or a sell?

In the last year, no analyst issued a Buy, Sell, or Hold rating on FORSY-NL on Stockchase. Read the latest expert commentary for Fortis NV.

Is Fortis NV a good investment or a top pick?

Fortis NV was recommended as a Top Pick by David Driscoll on 2006-05-25. Read the latest stock experts ratings for Fortis NV.

Why is Fortis NV stock dropping?

Earnings reports or recent company news can cause the stock price to drop. Read stock experts' recommendations for Fortis NV.

Is Fortis NV worth watching?

Fortis NV is covered by Stockchase experts and is worth watching.

Most Recent Experts

The Weekly Buzzing Stocks by Billy Kawasaki

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Brendan Caldwell

Caldwell Securities

Liz Young, Head of investment strategy at SoFi

SoFi

Stephen Weiss, Founder, Short Hills Capital Partners

Short Hills Capital Partners

Joe Terranova

Virtus Investment Partners

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Fortis NV (FORSY-NL)