TorstarCorp (B)

TS.B-T

TSE:TS.B

0.41
0.00 (0.00%)
Torstar Corporation is a Canadian media and publishing company. The company is primarily a publisher of daily and community papers, including its flagship and namesake, the Toronto Star.
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Analysis and Opinions about TS.B-T

Signal
Opinion
Expert
DON'T BUY
DON'T BUY
October 6, 2014

The spike today was based on PostMedia (PNC.B-T) buying SunMedia’s newspapers. He would not be constructive on the sector overall. Longer-term, newspapers are not going to be as prevalent as they once were. There is more of the shift towards digital and mobile.

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TorstarCorp (B) (TS.B-T)
October 6, 2014

The spike today was based on PostMedia (PNC.B-T) buying SunMedia’s newspapers. He would not be constructive on the sector overall. Longer-term, newspapers are not going to be as prevalent as they once were. There is more of the shift towards digital and mobile.

DON'T BUY
DON'T BUY
July 4, 2014

Biggest question facing them is “Is the dividend secure?”. Had been a 2 trick pony, and is now down to a 1 trick media pony that you divide into 2. Harlequin is gone now, so they have a lot of cash on the balance sheet. The question is, what are they going to do with that cash. Traditional media is hurting, particularly the newspaper business, which is half their cash flow. They now have to do something to break out. In the meantime, they are paying a high level of dividend out of that cash. If they do something that requires cash, they may cut that dividend. 6.6% dividend yield.

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Biggest question facing them is “Is the dividend secure?”. Had been a 2 trick pony, and is now down to a 1 trick media pony that you divide into 2. Harlequin is gone now, so they have a lot of cash on the balance sheet. The question is, what are they going to do with that cash. Traditional media is hurting, particularly the newspaper business, which is half their cash flow. They now have to do something to break out. In the meantime, they are paying a high level of dividend out of that cash. If they do something that requires cash, they may cut that dividend. 6.6% dividend yield.

COMMENT
COMMENT
June 20, 2014

You have no concerns about the dividend on this. They have probably $3.50 in cash. The newspaper division is covering the dividend yield. The big question is, what are they going to do with their excess cash. He gets the sense that they are waiting for the Post Media papers to actually get opened up. Post Media is struggling. He wouldn’t be surprised to see this company looking at them as a possible acquisition, and consolidating the space.

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You have no concerns about the dividend on this. They have probably $3.50 in cash. The newspaper division is covering the dividend yield. The big question is, what are they going to do with their excess cash. He gets the sense that they are waiting for the Post Media papers to actually get opened up. Post Media is struggling. He wouldn’t be surprised to see this company looking at them as a possible acquisition, and consolidating the space.

COMMENT
COMMENT
May 22, 2014

This was going nowhere for quite a while. Sold Harlequin and got a much, much bigger number than people had thought they would. With all the cash coming into the balance sheet, the dividend is certainly safe and they can pay down some of their debt. Valuation of about $7.50 is safe, but then they have to decide what they are going to do with all the money.

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This was going nowhere for quite a while. Sold Harlequin and got a much, much bigger number than people had thought they would. With all the cash coming into the balance sheet, the dividend is certainly safe and they can pay down some of their debt. Valuation of about $7.50 is safe, but then they have to decide what they are going to do with all the money.

WATCH
WATCH
May 12, 2014

There is not a lot of cash flow and their business is declining. If they get into any growth in their digital businesses it could increase the multiple. He follows it.

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There is not a lot of cash flow and their business is declining. If they get into any growth in their digital businesses it could increase the multiple. He follows it.

SELL
SELL
May 2, 2014

Newspaper industry has been a tough industry as they lose more and more readers and advertisers, more importantly. But TS had this Harlequin star in the company for a long time and at one point was probably worth more than the rest of the company. They could have sold it back then, but now they have to do so to keep the company going. It is not an industry that interests him. Take some profits now.

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Newspaper industry has been a tough industry as they lose more and more readers and advertisers, more importantly. But TS had this Harlequin star in the company for a long time and at one point was probably worth more than the rest of the company. They could have sold it back then, but now they have to do so to keep the company going. It is not an industry that interests him. Take some profits now.

WEAK BUY
WEAK BUY
April 23, 2014

Dividend is safe. His concern is the move from print to digital media. He now thinks the dividend is safe.

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Dividend is safe. His concern is the move from print to digital media. He now thinks the dividend is safe.

TOP PICK
TOP PICK
March 25, 2014

On their last earnings call, they had a decent earnings surprise with over 10% on earnings. Payout ratio is only around 50%-60%. Modestly leveraged and their pensions are completely paid for. Likes that there is a 3.5 million share Short position on it and he doesn’t know if there are any other sellers left as he was calling for blocks and couldn’t find anybody. Also, have Harlequin-based book publishing, which is primarily US$ based. Looking for another earnings surprise. Yield of 8.33%.

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On their last earnings call, they had a decent earnings surprise with over 10% on earnings. Payout ratio is only around 50%-60%. Modestly leveraged and their pensions are completely paid for. Likes that there is a 3.5 million share Short position on it and he doesn’t know if there are any other sellers left as he was calling for blocks and couldn’t find anybody. Also, have Harlequin-based book publishing, which is primarily US$ based. Looking for another earnings surprise. Yield of 8.33%.

TOP PICK
TOP PICK
March 17, 2014

Pure value. First improvement in margins in a couple of years. Cut pension deficit in half. There is value to the brand. This is a cheap stock. Can`t see it being lower in a year unless the economy does terribly.

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Pure value. First improvement in margins in a couple of years. Cut pension deficit in half. There is value to the brand. This is a cheap stock. Can`t see it being lower in a year unless the economy does terribly.

DON'T BUY
DON'T BUY
January 15, 2014

There are some secular factors that definitely give you pause, the decline of newspapers. Cut their dividends a couple of years ago but since then have raised it a couple of times. Yielding about 8.5%-9%, which tells you that there is some question about the long-term sustainability of that. This is one he would avoid.

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TorstarCorp (B) (TS.B-T)
January 15, 2014

There are some secular factors that definitely give you pause, the decline of newspapers. Cut their dividends a couple of years ago but since then have raised it a couple of times. Yielding about 8.5%-9%, which tells you that there is some question about the long-term sustainability of that. This is one he would avoid.

DON'T BUY
DON'T BUY
November 26, 2013

This is been a sad story to watch. It continually gets pummelled. Valuation, at some point just becomes so incredibly compelling that it is sure to bounce. They don’t have fantastic assets, so he would stay away from this. Would prefer Transcontinental (TCL.A-T) that does a little more printing.

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TorstarCorp (B) (TS.B-T)
November 26, 2013

This is been a sad story to watch. It continually gets pummelled. Valuation, at some point just becomes so incredibly compelling that it is sure to bounce. They don’t have fantastic assets, so he would stay away from this. Would prefer Transcontinental (TCL.A-T) that does a little more printing.

DON'T BUY
DON'T BUY
October 22, 2013

This is a dying business. Pretty hard to get enthusiastic about the print business. Newspapers have to compete with television. News services are getting better and better on competing on the Internet and you can get instant news. Even the Harlequin book side has not been doing well.

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TorstarCorp (B) (TS.B-T)
October 22, 2013

This is a dying business. Pretty hard to get enthusiastic about the print business. Newspapers have to compete with television. News services are getting better and better on competing on the Internet and you can get instant news. Even the Harlequin book side has not been doing well.

PAST TOP PICK
PAST TOP PICK
September 26, 2013

(A Top Pick August 16/12. Down 31.32%.) Felt that this one was a mistake. There are a lot of people that are concerned that they may cut the dividend. Not sure what he should do with this one.

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TorstarCorp (B) (TS.B-T)
September 26, 2013

(A Top Pick August 16/12. Down 31.32%.) Felt that this one was a mistake. There are a lot of people that are concerned that they may cut the dividend. Not sure what he should do with this one.

DON'T BUY
DON'T BUY
September 23, 2013

The world has sort of turned against the world of print. Newspapers are having trouble globally. A tough area to make money and it’s going to get tougher.

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TorstarCorp (B) (TS.B-T)
September 23, 2013

The world has sort of turned against the world of print. Newspapers are having trouble globally. A tough area to make money and it’s going to get tougher.

DON'T BUY
DON'T BUY
September 6, 2013

Sees this stock going down. This is a tough, tough business. Newspapers are not thriving at all. There is a permanent destruction in the economic of newspapers. Some newspapers are very solid and the subscriber base is growing but, advertisers don’t want to advertise in the newspaper as much as they used to.

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TorstarCorp (B) (TS.B-T)
September 6, 2013

Sees this stock going down. This is a tough, tough business. Newspapers are not thriving at all. There is a permanent destruction in the economic of newspapers. Some newspapers are very solid and the subscriber base is growing but, advertisers don’t want to advertise in the newspaper as much as they used to.

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