Canaccord Financial Inc

CF-T

TSE:CF

5.31
0.04 (0.75%)
Canaccord Genuity Group Inc. is a global, full-service investment banking and financial services company that specializes in wealth management and brokerage in capital markets. It is the largest independent investment dealer in Canada.
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Analysis and Opinions about CF-T

Signal
Opinion
Expert
PARTIAL SELL
PARTIAL SELL
August 11, 2014

Brokerage firm profits will go up and down with the general level of the stock market. Highly cyclical businesses. This one has had a big run. They were involved in a very, very large financing, and a lot of investors bought the stock in advance of them reporting their earnings. Generally you want to buy these stocks when the stock market is on its knees. You are in late stage innings. Financing could continue, but it is highly competitive right now. You are into a late, late stage of the game. If you own, consider trimming at least half your position.

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Brokerage firm profits will go up and down with the general level of the stock market. Highly cyclical businesses. This one has had a big run. They were involved in a very, very large financing, and a lot of investors bought the stock in advance of them reporting their earnings. Generally you want to buy these stocks when the stock market is on its knees. You are in late stage innings. Financing could continue, but it is highly competitive right now. You are into a late, late stage of the game. If you own, consider trimming at least half your position.

WATCH
WATCH
August 6, 2014

Has mixed feelings. Had hoped to see a revival in the IPO market and the resource sector, where these mid-tier firms in Canada historically made their money. He would be patient and wouldn’t rush right in. They may have another difficult quarter. Put it on your Watch List and see if you can pick it up after their Q3.

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Has mixed feelings. Had hoped to see a revival in the IPO market and the resource sector, where these mid-tier firms in Canada historically made their money. He would be patient and wouldn’t rush right in. They may have another difficult quarter. Put it on your Watch List and see if you can pick it up after their Q3.

COMMENT
COMMENT
June 16, 2014

Very interesting brokerage firm and a decent company. A sub segment of financial services from a public market perspective that he is not terribly keen about. Majority of investment/brokerages are silent partnerships. A shorter-term oriented industry with very highly paid employees. Whether they are public or private, they demand very high compensation. The downside is that they are using the public’s money to leverage their business. Prefers other areas of financial services, but in the short term this is a good investment, but be ready to pull the trigger and Sell.

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Very interesting brokerage firm and a decent company. A sub segment of financial services from a public market perspective that he is not terribly keen about. Majority of investment/brokerages are silent partnerships. A shorter-term oriented industry with very highly paid employees. Whether they are public or private, they demand very high compensation. The downside is that they are using the public’s money to leverage their business. Prefers other areas of financial services, but in the short term this is a good investment, but be ready to pull the trigger and Sell.

COMMENT
COMMENT
June 4, 2014

This is more of a cyclical in the sense that it is geared to markets. Quadrupled their earnings from last year. This is your senior, independent of the banks, investment banking company. Should continue to do very well.

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This is more of a cyclical in the sense that it is geared to markets. Quadrupled their earnings from last year. This is your senior, independent of the banks, investment banking company. Should continue to do very well.

HOLD
HOLD
May 8, 2014

Was one of his top picks in the past. It was too cheap and trading below its book value. In ’08 everyone didn’t like the company, but the market bottomed and then there were lots of financings last year and CF is knocking it out of the park now. He would hold it a little bit longer.

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Was one of his top picks in the past. It was too cheap and trading below its book value. In ’08 everyone didn’t like the company, but the market bottomed and then there were lots of financings last year and CF is knocking it out of the park now. He would hold it a little bit longer.

DON'T BUY
DON'T BUY
February 24, 2014

Preferred. Never average down. This is not a fixed income investment. You get a better yield than the common.

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Preferred. Never average down. This is not a fixed income investment. You get a better yield than the common.

TOP PICK
TOP PICK
February 4, 2014

This is a capital markets play. He rates this as a B-. Valuation is very attractive. BV is $8 a share so it is trading below Book Value. Every 2 weeks they announce how many shares they bought back with their cash. They have $360 million in cash. Starting to see pick up in financing activity. Even the gold sector is starting to do some capital market raises. Their international presence is impressive. If the market does well, financings will pick back up. Yield of 2.98%.

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This is a capital markets play. He rates this as a B-. Valuation is very attractive. BV is $8 a share so it is trading below Book Value. Every 2 weeks they announce how many shares they bought back with their cash. They have $360 million in cash. Starting to see pick up in financing activity. Even the gold sector is starting to do some capital market raises. Their international presence is impressive. If the market does well, financings will pick back up. Yield of 2.98%.

PAST TOP PICK
PAST TOP PICK
February 3, 2014

(A Top Pick Dec 21/12. Up 13.31%.) This is a stock that is hard to get out of. When it doesn’t go up or down, it is hard to make a decision. He’ll probably get out of this, probably very soon. Very sensitive to the financial markets.

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(A Top Pick Dec 21/12. Up 13.31%.) This is a stock that is hard to get out of. When it doesn’t go up or down, it is hard to make a decision. He’ll probably get out of this, probably very soon. Very sensitive to the financial markets.

COMMENT
COMMENT
January 15, 2014

These brokerage specific companies are facing some pretty tough challenges. From the regulatory side and on the market for smaller cap issues, which has been dormant. This should be prone to pick up. If you are looking for a higher risk financial play, this is it. There is probably a lot of reward in it, but there is also a lot of risk. Thinks you can get the same exposure, but through the banks with a lot lower risk profile. Dividend yield of 2.77%.

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These brokerage specific companies are facing some pretty tough challenges. From the regulatory side and on the market for smaller cap issues, which has been dormant. This should be prone to pick up. If you are looking for a higher risk financial play, this is it. There is probably a lot of reward in it, but there is also a lot of risk. Thinks you can get the same exposure, but through the banks with a lot lower risk profile. Dividend yield of 2.77%.

TOP PICK
TOP PICK
January 10, 2014

(A Top Pick Jan 8/13. Down 1.51%.) Really didn’t get their act together this year. He was disappointed in management. These guys are stockbrokers and know what works. A lot of insider buying. This is a good leading indicator. Still very cheap. Didn’t participate in the capital market brokers’ led rally. Yield of 2.88%.

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(A Top Pick Jan 8/13. Down 1.51%.) Really didn’t get their act together this year. He was disappointed in management. These guys are stockbrokers and know what works. A lot of insider buying. This is a good leading indicator. Still very cheap. Didn’t participate in the capital market brokers’ led rally. Yield of 2.88%.

PARTIAL SELL
PARTIAL SELL
December 9, 2013

Has not been doing well because people are not buying a lot of Canadian issues. It has a decent balance sheet and several legs to stand on, but it is relatively volatile because it is a leveraged play on stock markets.

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Has not been doing well because people are not buying a lot of Canadian issues. It has a decent balance sheet and several legs to stand on, but it is relatively volatile because it is a leveraged play on stock markets.

PAST TOP PICK
PAST TOP PICK
November 11, 2013

(A Top Pick Jan 8/13. Down 14.1%.) Still inexpensive. Management has done an underwhelming job of cutting their costs. Would seem that the fat cats at the broker have rewarded themselves, even through a thin time, which is really bad. He has bought more of this. Believes this will follow the Morgan Stanley (MS-N) model which has almost doubled over the past 6 months. Feels there is high potential here. What is weighing on this is its connection to commodities. This can be a $9-$10 stock.

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(A Top Pick Jan 8/13. Down 14.1%.) Still inexpensive. Management has done an underwhelming job of cutting their costs. Would seem that the fat cats at the broker have rewarded themselves, even through a thin time, which is really bad. He has bought more of this. Believes this will follow the Morgan Stanley (MS-N) model which has almost doubled over the past 6 months. Feels there is high potential here. What is weighing on this is its connection to commodities. This can be a $9-$10 stock.

DON'T BUY
DON'T BUY
October 11, 2013

Even though the Genuity acquisition made sense, and they’re well-positioned within the Canadian industry, there is a real squeeze on right now in the industry in terms of costs. Regulatory costs have gone through the roof. Distribution costs have gone insane. Feels this is squeezing the profitability of a lot of these companies, especially the midsize players. He would migrate more to the big banks.

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Even though the Genuity acquisition made sense, and they’re well-positioned within the Canadian industry, there is a real squeeze on right now in the industry in terms of costs. Regulatory costs have gone through the roof. Distribution costs have gone insane. Feels this is squeezing the profitability of a lot of these companies, especially the midsize players. He would migrate more to the big banks.

COMMENT
COMMENT
July 15, 2013

Investment banking is where this type of company makes their profits. Feels they can hang on day to day on the brokerage operations but where they really make their money is on investment banking. He doesn’t see that coming back real quickly.

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Investment banking is where this type of company makes their profits. Feels they can hang on day to day on the brokerage operations but where they really make their money is on investment banking. He doesn’t see that coming back real quickly.

WAIT
WAIT
June 24, 2013

Short this stock but has been covering his Short. In a tough market like we are in and in a tough summer with resource sector melting down it is a hard for him to get really excited on this company. Towards the end of the summer, when things kind of stabilize, you might want to go into this as a trade.

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Short this stock but has been covering his Short. In a tough market like we are in and in a tough summer with resource sector melting down it is a hard for him to get really excited on this company. Towards the end of the summer, when things kind of stabilize, you might want to go into this as a trade.

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