Yellow Media Inc

Y-T

TSE:Y

9.97
0.22 (2.26%)
Yellow Pages Limited is a digital company in Canada. Yellow Media owns and operates some Canadian properties and publications including Yellow Pages directories, YellowPages.ca, Canada411.ca, and RedFlagDeals.com.
More at Wikipedia

Analysis and Opinions about Y-T

Signal
Opinion
Expert
PAST TOP PICK
PAST TOP PICK
May 16, 2019
(A Top Pick May 29/18, Up 13%)Yellow Pages Convertible 8% 2022 Bond - Play on deleveraging. Their free cash flow is exploding. They accelerated paying debt in the past quarter cutting costs.
Show full opinionHide full opinion
(A Top Pick May 29/18, Up 13%)Yellow Pages Convertible 8% 2022 Bond - Play on deleveraging. Their free cash flow is exploding. They accelerated paying debt in the past quarter cutting costs.
TOP PICK
TOP PICK
March 20, 2019
8% 2022 convertible debentures He doesn't care about the underlying equity, just these convertibles that he's long owned and collects an 8% yield. They cut costs and now have a lot of free cash flow to pay down debt. He's like a senior debt holder, because they have only $150 million left of the seniors. Once, the seniors are called then people like him get called. It's all about the 8% yield.
Show full opinionHide full opinion
Yellow Media Inc (Y-T)
March 20, 2019
8% 2022 convertible debentures He doesn't care about the underlying equity, just these convertibles that he's long owned and collects an 8% yield. They cut costs and now have a lot of free cash flow to pay down debt. He's like a senior debt holder, because they have only $150 million left of the seniors. Once, the seniors are called then people like him get called. It's all about the 8% yield.
PAST TOP PICK
PAST TOP PICK
April 26, 2017

(A Top Pick Feb 24/16. Down 58.9%.) The print side is probably just going to continue to decline, but he thought the digital side was going to grow. They have now had a couple of bad quarters on the digital side and he got Stopped out.

Show full opinionHide full opinion
Yellow Media Inc (Y-T)
April 26, 2017

(A Top Pick Feb 24/16. Down 58.9%.) The print side is probably just going to continue to decline, but he thought the digital side was going to grow. They have now had a couple of bad quarters on the digital side and he got Stopped out.

PAST TOP PICK
PAST TOP PICK
February 24, 2017

(A Top Pick May 24/16. Down 51.09%.) A major disappointment and a big surprise to everybody. Management was not of a quality that most investors expected. They did not communicate in a very transparent fashion. He took some of the profits when he saw the management team turnover at the end of 2016.

Show full opinionHide full opinion
Yellow Media Inc (Y-T)
February 24, 2017

(A Top Pick May 24/16. Down 51.09%.) A major disappointment and a big surprise to everybody. Management was not of a quality that most investors expected. They did not communicate in a very transparent fashion. He took some of the profits when he saw the management team turnover at the end of 2016.

HOLD
HOLD
June 1, 2016

This is one where if you like the name, you just continue to hold the name. The technical chart does very little for him. The stock looks like it is ready to stay where it is, or move even higher.

Show full opinionHide full opinion

This is one where if you like the name, you just continue to hold the name. The technical chart does very little for him. The stock looks like it is ready to stay where it is, or move even higher.

TOP PICK
TOP PICK
May 24, 2016

This has evolved from a Yellow Pages directory into a media company. 62% of their revenues come from their media assets. They are repaying their debt very aggressively and improving their capital structure. They’ve done this in France, and are now doing it in Canada. Trading at very attractive EBITDA multiples.

Show full opinionHide full opinion

This has evolved from a Yellow Pages directory into a media company. 62% of their revenues come from their media assets. They are repaying their debt very aggressively and improving their capital structure. They’ve done this in France, and are now doing it in Canada. Trading at very attractive EBITDA multiples.

TOP PICK
TOP PICK
April 13, 2016

A real turnaround story. They are making a transition to digital and have brought about 50% of their business over. Did a great job in stabilizing the business, and now are really working on trying to increase the business. They have a “return to growth” plan to make their revenue, earnings and cash flow growth by 2018, and they seem to be on track.

Show full opinionHide full opinion
Yellow Media Inc (Y-T)
April 13, 2016

A real turnaround story. They are making a transition to digital and have brought about 50% of their business over. Did a great job in stabilizing the business, and now are really working on trying to increase the business. They have a “return to growth” plan to make their revenue, earnings and cash flow growth by 2018, and they seem to be on track.

BUY
BUY
April 11, 2016

It was left for dead last year. It has undergone quite a remarkable turnaround. Over 50% of their business is digital advertising and it is heading for 70%. They generate a lot of free cash and they are paying down debt with it. It trades at a low PE. There might be share buybacks in the future.

Show full opinionHide full opinion
Yellow Media Inc (Y-T)
April 11, 2016

It was left for dead last year. It has undergone quite a remarkable turnaround. Over 50% of their business is digital advertising and it is heading for 70%. They generate a lot of free cash and they are paying down debt with it. It trades at a low PE. There might be share buybacks in the future.

WATCH
WATCH
March 16, 2016

They have a ton of debt that they have been paying down over time. They made a recent acquisition which is mobile. They are trying to pay down debt and grow revenues. We are just seeing the early stages of whether it is flat lining. There is potentially a lot of debt. These are concerns. He does not think you will blow up on this one, and it has had a crazy run as of late. He would let it play out for a while. We don’t know if this one is growing. It has just come out of flat lining.

Show full opinionHide full opinion
Yellow Media Inc (Y-T)
March 16, 2016

They have a ton of debt that they have been paying down over time. They made a recent acquisition which is mobile. They are trying to pay down debt and grow revenues. We are just seeing the early stages of whether it is flat lining. There is potentially a lot of debt. These are concerns. He does not think you will blow up on this one, and it has had a crazy run as of late. He would let it play out for a while. We don’t know if this one is growing. It has just come out of flat lining.

TOP PICK
TOP PICK
February 24, 2016

This is a Value selection. The company has been restructured, and we are now seeing their return to a growth plan with their new management. Have been stabilizing their business, and are talking about having revenue and earnings growth, starting in 2018. They have skewed their business over to the digital side. The company continues to generate fantastic free cash flows, and are using a lot of it to pay down debt. Super cheap.

Show full opinionHide full opinion
Yellow Media Inc (Y-T)
February 24, 2016

This is a Value selection. The company has been restructured, and we are now seeing their return to a growth plan with their new management. Have been stabilizing their business, and are talking about having revenue and earnings growth, starting in 2018. They have skewed their business over to the digital side. The company continues to generate fantastic free cash flows, and are using a lot of it to pay down debt. Super cheap.

COMMENT
COMMENT
February 17, 2016

He owns this through convertible debentures, which is giving about a 7% yield and an option to participate in the upside of the underlying. Just released numbers last week which were quite good. This has always been a free cash flow business, and has always gushed out earnings. The biggest issue was the print media business which was decaying by 20%. 65% of all their revenue now comes from the digital side, which has an 8%-9% growth. He likes the company from a convertible debenture standpoint.

Show full opinionHide full opinion
Yellow Media Inc (Y-T)
February 17, 2016

He owns this through convertible debentures, which is giving about a 7% yield and an option to participate in the upside of the underlying. Just released numbers last week which were quite good. This has always been a free cash flow business, and has always gushed out earnings. The biggest issue was the print media business which was decaying by 20%. 65% of all their revenue now comes from the digital side, which has an 8%-9% growth. He likes the company from a convertible debenture standpoint.

COMMENT
COMMENT
February 1, 2016

It is an interesting company. He doesn’t know if it is a buy or a sell. They reinvented themselves as an online business. He does not know if the dividend is safe.

Show full opinionHide full opinion
Yellow Media Inc (Y-T)
February 1, 2016

It is an interesting company. He doesn’t know if it is a buy or a sell. They reinvented themselves as an online business. He does not know if the dividend is safe.

TOP PICK
TOP PICK
January 5, 2016

Yellow Pages 8% debentures November 30, 2022. The company does not have that much debt. Their margins are north of 30%. You will get 7.5% and some free upside if they execute.

Show full opinionHide full opinion
Yellow Media Inc (Y-T)
January 5, 2016

Yellow Pages 8% debentures November 30, 2022. The company does not have that much debt. Their margins are north of 30%. You will get 7.5% and some free upside if they execute.

HOLD
HOLD
August 25, 2015

Owns a little, but one that he is hemming and hawing on. He was more bullish on it a couple of years ago because it was extremely cheap. The question is whether it is a value or not. He is sitting on the fence, and is more likely to move on then to stay with it. The attraction is that it is trading at 3X earnings, but it is not growing. The issue is how fast new digital businesses can replace the legacy businesses. This would have to acquire something to become a more interesting story.

Show full opinionHide full opinion
Yellow Media Inc (Y-T)
August 25, 2015

Owns a little, but one that he is hemming and hawing on. He was more bullish on it a couple of years ago because it was extremely cheap. The question is whether it is a value or not. He is sitting on the fence, and is more likely to move on then to stay with it. The attraction is that it is trading at 3X earnings, but it is not growing. The issue is how fast new digital businesses can replace the legacy businesses. This would have to acquire something to become a more interesting story.

COMMENT
COMMENT
June 12, 2015

A controversial stock and maybe one that people don’t pay much attention to anymore, because it fell on such hard times. Have been undergoing a major transformation of shifting from print to digital. More than 50% of their business is now digital. Trading at a very, very low valuation multiple. Some risk, but a lot of reward.

Show full opinionHide full opinion

A controversial stock and maybe one that people don’t pay much attention to anymore, because it fell on such hard times. Have been undergoing a major transformation of shifting from print to digital. More than 50% of their business is now digital. Trading at a very, very low valuation multiple. Some risk, but a lot of reward.

TOP PICK
TOP PICK
May 20, 2015

8% convertible debenture maturing in 2022. Digital is now 55% of this company’s revenue. This is a bond that you can get a 6% rate of return, but you get some upside from the stock which is trading at about 3X EV to EBITDA, and should be trading at 4 or 5 times. The key is paying down their senior debentures which is ahead of convertible debentures, but it is going to get to a point where there are no senior debentures left, with the only debt outstanding being the convertibles. With that you are not only going to get this secure yield of a business that is doing all right, but maybe some upside. You don’t want to pay more than $115 for the bond, because the bid/offer spread is quite large.

Show full opinionHide full opinion

8% convertible debenture maturing in 2022. Digital is now 55% of this company’s revenue. This is a bond that you can get a 6% rate of return, but you get some upside from the stock which is trading at about 3X EV to EBITDA, and should be trading at 4 or 5 times. The key is paying down their senior debentures which is ahead of convertible debentures, but it is going to get to a point where there are no senior debentures left, with the only debt outstanding being the convertibles. With that you are not only going to get this secure yield of a business that is doing all right, but maybe some upside. You don’t want to pay more than $115 for the bond, because the bid/offer spread is quite large.

COMMENT
COMMENT
October 8, 2014

Owned this when its executives were being overpaid. It was a big loser for him. He had gotten caught up in getting a really good dividend. When dividends are too high, it is a warning sign. They have been transitioning. Did a huge stock consolidation. Doesn’t know the financials well enough to really speak to them. This is a play that you really have to take a good look at the financials and a good look at how quickly you think their digital area is going to continue to grow. How often do you actually look at the Yellow Pages?

Show full opinionHide full opinion
Yellow Media Inc (Y-T)
October 8, 2014

Owned this when its executives were being overpaid. It was a big loser for him. He had gotten caught up in getting a really good dividend. When dividends are too high, it is a warning sign. They have been transitioning. Did a huge stock consolidation. Doesn’t know the financials well enough to really speak to them. This is a play that you really have to take a good look at the financials and a good look at how quickly you think their digital area is going to continue to grow. How often do you actually look at the Yellow Pages?

DON'T BUY
DON'T BUY
September 29, 2014

A better company than it used to be as it switches to digital. It is still speculative, however. There is no certainty that they will survive.

Show full opinionHide full opinion
Yellow Media Inc (Y-T)
September 29, 2014

A better company than it used to be as it switches to digital. It is still speculative, however. There is no certainty that they will survive.

HOLD
HOLD
June 19, 2014

Has a small position. Telephone directory book business is dying while online digital business is growing. Stock is trading below BV, so he likes it, but it is not performing.

Show full opinionHide full opinion

Has a small position. Telephone directory book business is dying while online digital business is growing. Stock is trading below BV, so he likes it, but it is not performing.

COMMENT
COMMENT
March 18, 2014

Likes the fact that digital businesses are overtaking paper businesses. Balance sheet looks pretty strong. Not ready to back up the truck as he was to see a few more quarters. There have been some changes in management. This is one he is prepared to grow into but wants to see another quarter. If the quarter looks great, he’ll buy a bit more but will then want to see another quarter.

Show full opinionHide full opinion
Yellow Media Inc (Y-T)
March 18, 2014

Likes the fact that digital businesses are overtaking paper businesses. Balance sheet looks pretty strong. Not ready to back up the truck as he was to see a few more quarters. There have been some changes in management. This is one he is prepared to grow into but wants to see another quarter. If the quarter looks great, he’ll buy a bit more but will then want to see another quarter.

WATCH
WATCH
March 11, 2014

Has done pretty well. Is beginning to consolidate a little. If it breaks $25-$26, it might be bullish, if it breaks $22-23 he would be concerned.

Show full opinionHide full opinion
Yellow Media Inc (Y-T)
March 11, 2014

Has done pretty well. Is beginning to consolidate a little. If it breaks $25-$26, it might be bullish, if it breaks $22-23 he would be concerned.

HOLD
HOLD
December 18, 2013

Has been a great story. There is some accumulation going on by some bigger players right now. As soon as it breaks the troughs in the trend line you might consider getting out.

Show full opinionHide full opinion
Yellow Media Inc (Y-T)
December 18, 2013

Has been a great story. There is some accumulation going on by some bigger players right now. As soon as it breaks the troughs in the trend line you might consider getting out.

COMMENT
COMMENT
December 10, 2013

This is one of those stocks that nobody wanted to hear about. It has now bounced back because they do have pretty prodigious cash flows. The problem is, can they take that dwindling stream of cash and reinvest in something that is more sustainable. The directory business is not sustainable. If you own and have done well, ask yourself if you think they can turn things around by taking the cash, invested in new businesses and new lines of digital income and keep the value.

Show full opinionHide full opinion
Yellow Media Inc (Y-T)
December 10, 2013

This is one of those stocks that nobody wanted to hear about. It has now bounced back because they do have pretty prodigious cash flows. The problem is, can they take that dwindling stream of cash and reinvest in something that is more sustainable. The directory business is not sustainable. If you own and have done well, ask yourself if you think they can turn things around by taking the cash, invested in new businesses and new lines of digital income and keep the value.

DON'T BUY
DON'T BUY
November 11, 2013

Played it three times and got killed the last time. You really have to think about how far it has moved. How many people are going to use their media and how much is their digital media growing.

Show full opinionHide full opinion
Yellow Media Inc (Y-T)
November 11, 2013

Played it three times and got killed the last time. You really have to think about how far it has moved. How many people are going to use their media and how much is their digital media growing.

SPECULATIVE BUY
SPECULATIVE BUY
November 5, 2013

This was a disaster about a year ago and now there are some signs that the company is trying to invent itself with the new CEO. There has been a breakout with volume on it. For a high risk play, it looks okay. (He owns their bonds.)

Show full opinionHide full opinion
Yellow Media Inc (Y-T)
November 5, 2013

This was a disaster about a year ago and now there are some signs that the company is trying to invent itself with the new CEO. There has been a breakout with volume on it. For a high risk play, it looks okay. (He owns their bonds.)

DON'T BUY
DON'T BUY
June 21, 2013

Stock has done very well. Had the restructuring and the consolidation. There is a big group of unhappy former shareholders that didn’t end up with anything. The model has changed and the competitive situation has changed. They might make some money but in terms of a compelling investment, he couldn’t buy into this one.

Show full opinionHide full opinion

Stock has done very well. Had the restructuring and the consolidation. There is a big group of unhappy former shareholders that didn’t end up with anything. The model has changed and the competitive situation has changed. They might make some money but in terms of a compelling investment, he couldn’t buy into this one.

SHORT
SHORT
May 27, 2013

Declining core business. Doesn’t see where they will be able to generate enough cash flow in the long run to pay all their debt.

.

Show full opinionHide full opinion

Declining core business. Doesn’t see where they will be able to generate enough cash flow in the long run to pay all their debt.

.

DON'T BUY
DON'T BUY
April 1, 2013

He was a debt holder before the restructuring. He sold the equity and the convertibles, but holds the debentures. Print media is collapsing although not going down as fast as analysts had predicted. It has restructured into a company with a rational balance sheet. He likes the bonds but the equity is fully valued.

Show full opinionHide full opinion

He was a debt holder before the restructuring. He sold the equity and the convertibles, but holds the debentures. Print media is collapsing although not going down as fast as analysts had predicted. It has restructured into a company with a rational balance sheet. He likes the bonds but the equity is fully valued.

PAST TOP PICK
PAST TOP PICK
January 21, 2013

(Top Pick Jan 18/12, Up 90%) At the time it was trading at about 40 cents on the dollar, but you are getting well compensated for owning the bond. There was a restructuring event and you got a combination of cash and equity. He is going to be transitioning out of them in the next year.

Show full opinionHide full opinion
Yellow Media Inc (Y-T)
January 21, 2013

(Top Pick Jan 18/12, Up 90%) At the time it was trading at about 40 cents on the dollar, but you are getting well compensated for owning the bond. There was a restructuring event and you got a combination of cash and equity. He is going to be transitioning out of them in the next year.

HOLD
HOLD
November 28, 2012

Bonds? Company reported earnings recently and there are continued declines in print revenue. Company is restructuring, because if they don’t, in 5 years they will be going through bankruptcy. Right now he is waiting for the judge’s decision on how the company is going to be restructured or if there are going to be any changes.

Show full opinionHide full opinion
Yellow Media Inc (Y-T)
November 28, 2012

Bonds? Company reported earnings recently and there are continued declines in print revenue. Company is restructuring, because if they don’t, in 5 years they will be going through bankruptcy. Right now he is waiting for the judge’s decision on how the company is going to be restructured or if there are going to be any changes.

PAST TOP PICK
PAST TOP PICK
November 27, 2012

(A Top Pick Nov 16/11. Up 55%.) 7.3% bonds. Everyone has agreed to recapitalize and are just waiting for the courts to approve it. If everything works out, the bonds could double.

Show full opinionHide full opinion
Yellow Media Inc (Y-T)
November 27, 2012

(A Top Pick Nov 16/11. Up 55%.) 7.3% bonds. Everyone has agreed to recapitalize and are just waiting for the courts to approve it. If everything works out, the bonds could double.

DON'T BUY
DON'T BUY
September 19, 2012

Bonds. Based on the restructuring proposal, which will be settled on October 15, the bonds are trading at $.60 to the $1.00 and seem to be fully valued. If the restructuring does not occur, he could see more downside to it.

Show full opinionHide full opinion
Yellow Media Inc (Y-T)
September 19, 2012

Bonds. Based on the restructuring proposal, which will be settled on October 15, the bonds are trading at $.60 to the $1.00 and seem to be fully valued. If the restructuring does not occur, he could see more downside to it.

COMMENT
COMMENT
September 13, 2012

Shareholders have voted to restructure the company. Big chunk of what you get in return is what the market values what you get in the restructuring. If the deal goes as is, it will go up to $.70 on the dollar. He wonders if they could restructure without going bankrupt. The short hold debt loan is not funded by revenue. Hopefully the on-line business can carry the company forward.

Show full opinionHide full opinion
Yellow Media Inc (Y-T)
September 13, 2012

Shareholders have voted to restructure the company. Big chunk of what you get in return is what the market values what you get in the restructuring. If the deal goes as is, it will go up to $.70 on the dollar. He wonders if they could restructure without going bankrupt. The short hold debt loan is not funded by revenue. Hopefully the on-line business can carry the company forward.

HOLD
HOLD
September 11, 2012

Bond due 2016. This company is going through a restructuring so you won’t see the 2016 maturity. All the bondholders will receive cash and new bonds, which are worth about $.61, a little bit higher than the bonds are trading now. Bondholders will control over 80% of the shares.

Show full opinionHide full opinion
Yellow Media Inc (Y-T)
September 11, 2012

Bond due 2016. This company is going through a restructuring so you won’t see the 2016 maturity. All the bondholders will receive cash and new bonds, which are worth about $.61, a little bit higher than the bonds are trading now. Bondholders will control over 80% of the shares.

PAST TOP PICK
PAST TOP PICK
September 7, 2012

(A Top Pick July 12/11. Down 95.54%.)

Show full opinionHide full opinion
Yellow Media Inc (Y-T)
September 7, 2012

(A Top Pick July 12/11. Down 95.54%.)

BUY
BUY
August 23, 2012

(Market Call Minute.) Bonds?

Show full opinionHide full opinion
Yellow Media Inc (Y-T)
August 23, 2012

(Market Call Minute.) Bonds?

DON'T BUY
DON'T BUY
August 17, 2012

The business model never made sense to him with the high debt. Can’t see where there is a good revenue-generating model going forward. If you own, consider taking tax loss on it.

Show full opinionHide full opinion
Yellow Media Inc (Y-T)
August 17, 2012

The business model never made sense to him with the high debt. Can’t see where there is a good revenue-generating model going forward. If you own, consider taking tax loss on it.

COMMENT
COMMENT
August 16, 2012

This was one of his major mistakes over the past few years. He didn’t focus enough on that debt level and was too focused on payout ratio. Dotes if there will be anything left for shareholders but if there is, it will be a pittance.

Show full opinionHide full opinion
Yellow Media Inc (Y-T)
August 16, 2012

This was one of his major mistakes over the past few years. He didn’t focus enough on that debt level and was too focused on payout ratio. Dotes if there will be anything left for shareholders but if there is, it will be a pittance.

HOLD
HOLD
July 4, 2012
2015 bond. Hold or Sell? They are looking at doing a restructuring. Bond holders have gotten together and are looking to the company to control the debt. Probably looking at a valuation closer to $0.70, which will probably give it a good appreciation pop so you will continue to accrue interest payments until that happens.
Show full opinionHide full opinion