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Greg Newman
Director & Portfolio Manager at Scotia Wealth Management
Member since: Sep '11 · 2328 Opinions
Rating Card
| All | 
Rating
| 
Big Win
| 
Win
| 
Neutral
| 
Loss
| 
Big Loss
|  |
|---|---|---|---|---|---|---|---|
| 4.64 | 204 23.89% | 219 25.64% | 146 17.10% | 189 22.13% | 96 11.24% | ||
| 1 Month | 4.59 | 4 1.89% | 70 33.02% | 83 39.15% | 53 25.00% | 2 0.94% | |
| 6 Months | 4.75 | 35 17.41% | 66 32.84% | 29 14.43% | 45 22.39% | 26 12.94% | |
| 12 Months | 4.9 | 60 31.25% | 47 24.48% | 18 9.38% | 40 20.83% | 27 14.06% | |
| 2 Years | 4.8 | 66 39.29% | 28 16.67% | 13 7.74% | 37 22.02% | 24 14.29% | |
| 5 Years | 4.17 | 39 48.15% | 8 9.88% | 3 3.70% | 14 17.28% | 17 20.99% |
Stock Opinions by Greg Newman
Editor's Note: The topic also includes wealth protection strategies. There is a lot of pessimism out there but the main source of optimism is the macro environment. Earnings are still quite strong and quarterly reports are still frequently providing positive guidance. There is also a strong jobs market. The U.S. balance sheet at the consumer level is pretty good. A recession is not necessarily needed before the market can move on. At present interest rate levels cash and bonds can be a bigger part of your portfolio. They will pay well in an uncertain economic environment. A whole lot of asset classes are working now.
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Things soured a bit because the strategic review didn't see enough bids. However it is at a good valuation now at 8 X 2024 earnings and the growth rate looks much higher going forward. Its first quarter was pretty good, it has a substantial stock buy-back program and its balance sheet is OK. It is shifting from M&A to organic growth. It sets up well for the next 3 to 5 years and he would buy it in a non-registered account.
There is a lot to like. Q1 was good and it raised estimates. It has good visible growth but is expensive at 18X earnings. There are others which are more exciting on a price to growth basis. Utilities in general or energy infrastructure companies in Canada are pretty good. Two sweet spots are Alta Gas and Keyera.
It has had issues but earnings are more stable.
Editor's Note - The question was his preference over PLC and ATZ. PLC has had issues but earnings are more stable. ATZ is still a bit pricey. He likes it on valuation to growth but PLC is the better buy for the next year.
Editor's Note - The question was his preference over PLC and ATZ. PLC has had issues but earnings are more stable. ATZ is still a bit pricey. He likes it on valuation to growth but PLC is the better buy for the next year.
The GE Healthcare spinoff was a good reward for investors. It has an excellent CEO and beat on the last quarter. Also it is the beneficiary of jobs coming back to North America. Most analysts that follow it have a 50% earnings per share growth target. Buy for a 3 to 5 year hold.
Its leverage is now under control. It beat in the last quarter and raised guidance. The dividend is good with a 50% payout ratio. The distributable cash flow is heading down and you can buy better quality stocks at better levels.
It has great tailwinds for the long term.. Its chart has been parabolic and it is trading at 65 X 2025 earnings. It is a good company to buy even though technically not at this time.
He likes it since it is defensive and quite cheap with a great dividend of 7%. Doesn't have a great EPS though.
He has owned it for 20 years. It beat in the last quarter and pays a good dividend. However there are names that are a little better such as J&J and Danaher.
It was a good play on higher interest rates with higher net interest margins. It beat in the last quarter but is down (and cheap) with the regional banking concerns in the U.S. even though it is not a regional bank. He is still holding but trimmed it and others last year because of big capital gains.
It was a play on the return to theme parks. However the soft ad market and drama in Florida has not helped. Also Disney Plus is not unfolding that well in terms of subscribers. Analysts expect a 20% earnings growth. It should be coming together in 2024 so if you own it, hold it.
(Analysts’ price target is $133.00)33 of 38 analysts have increased their outlook so stay with it.. It trades at 10X and he sees it growing at 13 1/2%. Yes there is increasing competition from Apple, Afterpay and Affirm.
It has had a very strong start to 2023 and has had minimal impacts from inflation and supply chain issues. It has 95% recurring revenue and organic growth of 21% year over year. Trades at 13.3 X EBITDA.
