Yellow Pages Ltd.

Y-T

TSE:Y

9.00
0.10 (1.12%)
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.
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Analysis and Opinions about Y-T

Signal
Opinion
Expert
TOP PICK
TOP PICK
June 16, 2011
Preferred Class A 4.25% Retractable Dec. 2012. A defensive play. Company has to buy back your shares at $25 in about 18 months. You end up with a yield of about 9%, which is tax effective with the capital gains and dividends.
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Preferred Class A 4.25% Retractable Dec. 2012. A defensive play. Company has to buy back your shares at $25 in about 18 months. You end up with a yield of about 9%, which is tax effective with the capital gains and dividends.
DON'T BUY
DON'T BUY
June 7, 2011
Business model is difficult because they are only 25-30% on line. In a slow decline. You could own it in the short term for the dividend, but it is dropping more than the dividend payment so avoid the common. Possibly you could look at the preferreds. E.g. the preferred ‘D’.
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Business model is difficult because they are only 25-30% on line. In a slow decline. You could own it in the short term for the dividend, but it is dropping more than the dividend payment so avoid the common. Possibly you could look at the preferreds. E.g. the preferred ‘D’.
COMMENT
COMMENT
June 6, 2011
An interesting situation with this one. They are moderate risk at best. Big spreads between bid and ask on the bonds. You are probably fine on 21013 or 2014 maturities but would be less comfortable going further. Would only play this company on short-term debt.
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An interesting situation with this one. They are moderate risk at best. Big spreads between bid and ask on the bonds. You are probably fine on 21013 or 2014 maturities but would be less comfortable going further. Would only play this company on short-term debt.
DON'T BUY
DON'T BUY
June 3, 2011
Still some downside risk. Management just reiterated that the asset sale is going to go through and that the dividend is safe but it is a declining business. All depends on can they turn around the on line media. The preferred shares might be an attractive way to play it.
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Still some downside risk. Management just reiterated that the asset sale is going to go through and that the dividend is safe but it is a declining business. All depends on can they turn around the on line media. The preferred shares might be an attractive way to play it.
HOLD
HOLD
June 2, 2011
Had huge margins on their paper product but were losing out to on line search engines. They have now gone to small and mid-size companies offering to set up web sites. Great idea but will take time. Market worries the paper product is losing at a faster rate than can be offset by electronic media. Expects 17% distribution will have to come down, but if it drops to 10%, that is not a hardship.
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Had huge margins on their paper product but were losing out to on line search engines. They have now gone to small and mid-size companies offering to set up web sites. Great idea but will take time. Market worries the paper product is losing at a faster rate than can be offset by electronic media. Expects 17% distribution will have to come down, but if it drops to 10%, that is not a hardship.
BUY
BUY
May 31, 2011
Every tie he plays it he questions why he is doing it. He goes into it for the dividend. They re-affirmed their dividend today. Thinks there is upside to the stock but there are major risk to this industry.
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Every tie he plays it he questions why he is doing it. He goes into it for the dividend. They re-affirmed their dividend today. Thinks there is upside to the stock but there are major risk to this industry.
DON'T BUY
DON'T BUY
May 25, 2011
Doesn’t see any future in this one. Sometimes when you get high dividends in companies, most of the people on the street thinks the dividend is about to get cut. 15% yield.
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Doesn’t see any future in this one. Sometimes when you get high dividends in companies, most of the people on the street thinks the dividend is about to get cut. 15% yield.
DON'T BUY
DON'T BUY
May 25, 2011
14% plus yield. Size of yield is usually for a reason. Market doesn’t believe they can continue to pay that yield. Print business is the higher margin business and is declining. Web business is growing but is lower margin. Their problem is debt. Sale of the Trader Magazine basically covered debt repayment for this year but still have a lot of debt.
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14% plus yield. Size of yield is usually for a reason. Market doesn’t believe they can continue to pay that yield. Print business is the higher margin business and is declining. Web business is growing but is lower margin. Their problem is debt. Sale of the Trader Magazine basically covered debt repayment for this year but still have a lot of debt.
DON'T BUY
DON'T BUY
May 17, 2011
Yellow Media is really struggling,decaying very quickly, bond side is okay, but the equity side is problematic, risk of a dividend cut is high, having problems employing their new strategy.
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Yellow Media is really struggling,decaying very quickly, bond side is okay, but the equity side is problematic, risk of a dividend cut is high, having problems employing their new strategy.
COMMENT
COMMENT
May 11, 2011
75% of their business is the print division, which is in long term decline. 25% is the on-line division. Trying to grow their on-line division faster than the decline in their print division. Until the on-line division approaches 50% of the over all revenues, you could be at risk. He likes their preferred shares.
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75% of their business is the print division, which is in long term decline. 25% is the on-line division. Trying to grow their on-line division faster than the decline in their print division. Until the on-line division approaches 50% of the over all revenues, you could be at risk. He likes their preferred shares.
DON'T BUY
DON'T BUY
May 10, 2011
Has worried a lot about the business strategy for a while. Owns some of the preferred. Doesn’t think they are in danger of bankrupsy. There is a lot of competition, print side continues to go down and they can’t replace cash flow fast enough. They have cut the dividend twice. The market may think there is a third cut coming, which is possible from the balance sheet.
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Has worried a lot about the business strategy for a while. Owns some of the preferred. Doesn’t think they are in danger of bankrupsy. There is a lot of competition, print side continues to go down and they can’t replace cash flow fast enough. They have cut the dividend twice. The market may think there is a third cut coming, which is possible from the balance sheet.
COMMENT
COMMENT
May 4, 2011
Normally a big dividend is a danger signal. He would have liked to see it hold at the $4.80 level. Now that it is broken through that, the next level would be $3.75-$4.00. Expect there will be a lot of interest at that level. Yield may get cut but doesn’t think the story is over. Multiple is pretty decent on it.
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Normally a big dividend is a danger signal. He would have liked to see it hold at the $4.80 level. Now that it is broken through that, the next level would be $3.75-$4.00. Expect there will be a lot of interest at that level. Yield may get cut but doesn’t think the story is over. Multiple is pretty decent on it.
DON'T BUY
DON'T BUY
May 2, 2011
This could be a value trap. 80% of their directory business is still print based and is declining very rapidly. Trying to make a transition over to digital on-line advertising. 13.8% dividend is safe for the next year based on their cash flow. A declining industry. (Owns some retractable preferred shares for clients.)
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This could be a value trap. 80% of their directory business is still print based and is declining very rapidly. Trying to make a transition over to digital on-line advertising. 13.8% dividend is safe for the next year based on their cash flow. A declining industry. (Owns some retractable preferred shares for clients.)
COMMENT
COMMENT
April 26, 2011
Starting to transition into the digital media world. Doing OK with this but is a stock that everybody loves to hate. If you have a good time frame, just collect the 13% dividend. They are not going to go away any time soon and you’ll get your investment back in dividends if the company survives, which it can easily do.
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Yellow Pages Ltd. (Y-T)
April 26, 2011
Starting to transition into the digital media world. Doing OK with this but is a stock that everybody loves to hate. If you have a good time frame, just collect the 13% dividend. They are not going to go away any time soon and you’ll get your investment back in dividends if the company survives, which it can easily do.
COMMENT
COMMENT
April 19, 2011
Likes what he sees happening with them. Focusing on small, micro sized businesses and designing web sites for them. This is addressing a very important and critical part of the market and may help them, sustain their growth going forward. (He owns some of the preferred.)
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Yellow Pages Ltd. (Y-T)
April 19, 2011
Likes what he sees happening with them. Focusing on small, micro sized businesses and designing web sites for them. This is addressing a very important and critical part of the market and may help them, sustain their growth going forward. (He owns some of the preferred.)
DON'T BUY
DON'T BUY
April 18, 2011
Concept of yellow pages is a bit difficult now with the way the web’s taken over. Stock has been extremely weak lately and he doesn’t know what kind of salvation there is. Not a good sector to be in and some say the 13% yield is vulnerable.
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Yellow Pages Ltd. (Y-T)
April 18, 2011
Concept of yellow pages is a bit difficult now with the way the web’s taken over. Stock has been extremely weak lately and he doesn’t know what kind of salvation there is. Not a good sector to be in and some say the 13% yield is vulnerable.
TOP PICK
TOP PICK
April 15, 2011
Analysts are forecasting that it will cover its dividend for the next couple of years. 13% plus yield. His target would be $6-$6.25.
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Yellow Pages Ltd. (Y-T)
April 15, 2011
Analysts are forecasting that it will cover its dividend for the next couple of years. 13% plus yield. His target would be $6-$6.25.
DON'T BUY
DON'T BUY
April 11, 2011
12.8% yield. A classic case of don’t believe everything you see when you look at yields in stocks. At this rate there is probably something seriously wrong. Have been struggling for some time. Have some serious competitors, including Google (GOOG-Q). Recently sold a division at a huge loss that was a lot of their cash flow.
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Yellow Pages Ltd. (Y-T)
April 11, 2011
12.8% yield. A classic case of don’t believe everything you see when you look at yields in stocks. At this rate there is probably something seriously wrong. Have been struggling for some time. Have some serious competitors, including Google (GOOG-Q). Recently sold a division at a huge loss that was a lot of their cash flow.
DON'T BUY
DON'T BUY
April 6, 2011
Never been a fan of this company. Sold Traders, which will probably help protect their dividend, which was in jeopardy but this was the growth part of their business. Core business continues to decline and their internet business has not been able to pick up the slack. 12% distribution.
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Never been a fan of this company. Sold Traders, which will probably help protect their dividend, which was in jeopardy but this was the growth part of their business. Core business continues to decline and their internet business has not been able to pick up the slack. 12% distribution.
BUY
BUY
April 1, 2011
Always buys at $5 and change and Sells at $6 and change. Big dividend. Just sold Auto Trader for $750 million which will guarantee the distribution for a while.
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Always buys at $5 and change and Sells at $6 and change. Big dividend. Just sold Auto Trader for $750 million which will guarantee the distribution for a while.
DON'T BUY
DON'T BUY
March 21, 2011
Bonds: Triple B rated credit. One notch above junk. Yields are more in line with where high yield bonds trade. Don’t put a lot of money in that name. The business is challenged right now.
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Yellow Pages Ltd. (Y-T)
March 21, 2011
Bonds: Triple B rated credit. One notch above junk. Yields are more in line with where high yield bonds trade. Don’t put a lot of money in that name. The business is challenged right now.
DON'T BUY
DON'T BUY
March 21, 2011
The question is how much advertising they can bring in with the Internet side of the business. 12% yield. This means the market wonders of they can maintain it. The earnings have to catch up to what they are paying out.
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Yellow Pages Ltd. (Y-T)
March 21, 2011
The question is how much advertising they can bring in with the Internet side of the business. 12% yield. This means the market wonders of they can maintain it. The earnings have to catch up to what they are paying out.
WEAK BUY
WEAK BUY
March 10, 2011
It has come off substantially. Shows a high yield. Business model for paper side will continue to decline. Increasingly with apps on phones you can bypass the on-line side. You can buy for the yield but he doesn’t see much growth.
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Yellow Pages Ltd. (Y-T)
March 10, 2011
It has come off substantially. Shows a high yield. Business model for paper side will continue to decline. Increasingly with apps on phones you can bypass the on-line side. You can buy for the yield but he doesn’t see much growth.
WEAK BUY
WEAK BUY
March 2, 2011
Never completely trusts the company. It is a real dinosaur in his way of thinking. What will it cost to get rid of the yellow pages. He put it back on the watch list a while ago and may buy back in again. This stock would be part of his diversification strategy. Has bought it twice and dumped it.
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Never completely trusts the company. It is a real dinosaur in his way of thinking. What will it cost to get rid of the yellow pages. He put it back on the watch list a while ago and may buy back in again. This stock would be part of his diversification strategy. Has bought it twice and dumped it.
PAST TOP PICK
PAST TOP PICK
March 1, 2011
(Top Pick Feb 22/10, Up 7.95%) Preferred shares 4.25%. Are an excellent investment for non registered accounts. Doesn’t like company long term but likes this preferred. Thinks it will be redeemed at $25 next summer.
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(Top Pick Feb 22/10, Up 7.95%) Preferred shares 4.25%. Are an excellent investment for non registered accounts. Doesn’t like company long term but likes this preferred. Thinks it will be redeemed at $25 next summer.
DON'T BUY
DON'T BUY
February 28, 2011
Hasn’t liked for a long time. Doesn’t like their business model. Yesterday’s technology. Trying to move the consumer from the book to the internet but it’s not working out as well as it should have. When they converted from an income trust, the cost was 20X the average and they gave no disclosure.
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Yellow Pages Ltd. (Y-T)
February 28, 2011
Hasn’t liked for a long time. Doesn’t like their business model. Yesterday’s technology. Trying to move the consumer from the book to the internet but it’s not working out as well as it should have. When they converted from an income trust, the cost was 20X the average and they gave no disclosure.
WEAK BUY
WEAK BUY
February 22, 2011
Business has two parts and moving in opposite directions. Thinks the growth in the on-line side of the business will support the dividend.
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Yellow Pages Ltd. (Y-T)
February 22, 2011
Business has two parts and moving in opposite directions. Thinks the growth in the on-line side of the business will support the dividend.
HOLD
HOLD
February 16, 2011
Very solid business and generates a tremendous amount of cash flow. Had lackluster results but feels the dividend is very sustainable. Low payout ratio. As long as small businesses are not growing, they will continue to be challenged.
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Yellow Pages Ltd. (Y-T)
February 16, 2011
Very solid business and generates a tremendous amount of cash flow. Had lackluster results but feels the dividend is very sustainable. Low payout ratio. As long as small businesses are not growing, they will continue to be challenged.
WEAK BUY
WEAK BUY
February 4, 2011
Very challenging business over the last few years. Advertising has gone more internet based and digital and that has been a real attack on their core Yellow Pages book. Converted a lot of their business to those media. Might be interesting. Pays quite a high yield that he thinks is sustainable.
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Yellow Pages Ltd. (Y-T)
February 4, 2011
Very challenging business over the last few years. Advertising has gone more internet based and digital and that has been a real attack on their core Yellow Pages book. Converted a lot of their business to those media. Might be interesting. Pays quite a high yield that he thinks is sustainable.
DON'T BUY
DON'T BUY
January 24, 2011
Trading below book value. Why? A lousy industry will beat management any time. Both of these things apply to this company. Gone from a monopoly business when they were Yellow Pages to transitioning to an online business that has an infinite number of competitors. $3 billion in debt and earnings barely cover their $0.80 dividend. 13% yield but expects a dividend cut in the next 2-3 years.
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Yellow Pages Ltd. (Y-T)
January 24, 2011
Trading below book value. Why? A lousy industry will beat management any time. Both of these things apply to this company. Gone from a monopoly business when they were Yellow Pages to transitioning to an online business that has an infinite number of competitors. $3 billion in debt and earnings barely cover their $0.80 dividend. 13% yield but expects a dividend cut in the next 2-3 years.
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