Morneau Shepell Inc

MSI-T

TSE:MSI

32.88
0.47 (1.45%)
Morneau Shepell is a human resources services and technology company headquartered in Toronto, Ontario, Canada. Established in 1966, Morneau Shepell serves approximately 20,000 clients in North America.
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Analysis and Opinions about MSI-T

Signal
Opinion
Expert
PAST TOP PICK
PAST TOP PICK
June 29, 2011
(A Top Pick July 09/10. Up 13.17%.) Good steady income if you are looking for income.
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(A Top Pick July 09/10. Up 13.17%.) Good steady income if you are looking for income.
COMMENT
COMMENT
January 14, 2011
Consultants in the financial industry, which is a growth area. Over time they will do well. Recently converted from an income trust so distribution has been impaired and will take awhile to grow back to where it was. Have been gaining market share.
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Consultants in the financial industry, which is a growth area. Over time they will do well. Recently converted from an income trust so distribution has been impaired and will take awhile to grow back to where it was. Have been gaining market share.
COMMENT
COMMENT
January 11, 2011
Recession resistant and had fairly consistent numbers during the pull back in the economy. Would prefer names that have more influence in terms of the actual recovery.
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Recession resistant and had fairly consistent numbers during the pull back in the economy. Would prefer names that have more influence in terms of the actual recovery.
DON'T BUY
DON'T BUY
December 2, 2010
Pension benefits consulting. Long term contracts. Good customer retention. Debt level is about 2.9X debt to EBITDA. Have to come down to 2.5X by June 30/11.
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Pension benefits consulting. Long term contracts. Good customer retention. Debt level is about 2.9X debt to EBITDA. Have to come down to 2.5X by June 30/11.
BUY
BUY
September 30, 2010
Pension consulting and employee assistance services. Some of the run company. Like that long-term but short-term is a matter of getting momentum in quality of earnings and performance.
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Morneau Shepell Inc (MSI-T)
September 30, 2010
Pension consulting and employee assistance services. Some of the run company. Like that long-term but short-term is a matter of getting momentum in quality of earnings and performance.
HOLD
HOLD
August 25, 2010
Would continue to hold. More recent results disappointed market. Are a significant and growing player in the financial services sector. Distribution will have to be tax adjusted when they convert.
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Would continue to hold. More recent results disappointed market. Are a significant and growing player in the financial services sector. Distribution will have to be tax adjusted when they convert.
PAST TOP PICK
PAST TOP PICK
August 11, 2010
(A Top Pick June 8/09. Up 13.22%.)
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(A Top Pick June 8/09. Up 13.22%.)
TOP PICK
TOP PICK
July 9, 2010
Largest Canadian owned/based benefits and actuarial company. Help companies manage pension benefits, HR issues, health issues, etc. Very profitable business. When they convert to a corporation, they will cut their distribution in such a way that the after-tax amount will be the same.
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Largest Canadian owned/based benefits and actuarial company. Help companies manage pension benefits, HR issues, health issues, etc. Very profitable business. When they convert to a corporation, they will cut their distribution in such a way that the after-tax amount will be the same.
PAST TOP PICK
PAST TOP PICK
June 9, 2010
(Top Pick Jun 8/09, Up 10.78%)
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(Top Pick Jun 8/09, Up 10.78%)
PAST TOP PICK
PAST TOP PICK
April 6, 2010
(A Top Pick March 30/09. Up 46.94%.) Still a buy.
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(A Top Pick March 30/09. Up 46.94%.) Still a buy.
DON'T BUY
DON'T BUY
March 24, 2010
Pension benefits consulting and healthcare plans for big 500 Fortune companies. Big acquisition ruined their balance sheet so growth is going to be constrained, as they have to pay off their debt. Will have to cut distributions when they convert and doesn't know if there'll be a lot of money left over.
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Pension benefits consulting and healthcare plans for big 500 Fortune companies. Big acquisition ruined their balance sheet so growth is going to be constrained, as they have to pay off their debt. Will have to cut distributions when they convert and doesn't know if there'll be a lot of money left over.
COMMENT
COMMENT
January 27, 2010
Pension fund consultants and intermediaries. Developing into a full-service competitor with others in the industry. Not sure they will be able to maintain distributions at the same levels once they convert but this is a very good growth industry.
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Pension fund consultants and intermediaries. Developing into a full-service competitor with others in the industry. Not sure they will be able to maintain distributions at the same levels once they convert but this is a very good growth industry.
PAST TOP PICK
PAST TOP PICK
January 19, 2010
(A Top Pick May 20/09. Up 29.28%.) Wouldn't Buy at this time, but still a Hold.
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(A Top Pick May 20/09. Up 29.28%.) Wouldn't Buy at this time, but still a Hold.
COMMENT
COMMENT
January 6, 2010
Likes their underlying business but has only 2 or 3 big customers, which worries him as most cash flow is spun off in distributions. Probably need to raise a bit of equity some it be a pullback on a financing.
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Likes their underlying business but has only 2 or 3 big customers, which worries him as most cash flow is spun off in distributions. Probably need to raise a bit of equity some it be a pullback on a financing.
BUY
BUY
December 22, 2009
Do a lot of consulting in the investment industry, which is a growth industry. They have been gaining market share within that growth. 9-1/2%, reasonable multiple. Distribution will not necessarily remain in tact during the conversion.
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Morneau Shepell Inc (MSI-T)
December 22, 2009
Do a lot of consulting in the investment industry, which is a growth industry. They have been gaining market share within that growth. 9-1/2%, reasonable multiple. Distribution will not necessarily remain in tact during the conversion.
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