GREY:CXSNF - Post by User
Post by
sculpin2on Oct 21, 2014 10:46am
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Post# 23046966
CXS - P/E less than 7 times
CXS - P/E less than 7 timesFrom Cormark.....
Counsel should have a steady quarter; catalysts on the horizon:
Given its focus on the prime market, we don't expect a big growth quarter out of CXS. However, the firm will remain solidly profitable and we believe the attainment of bank status is likely within the next 6 months, which will open the door to the next leg of growth.
In addition, 2015 will see income tied to mortgage renewals become a more meaningful factor. At 6.6x 2015 EPS and 1.5x BVPS, CXS looks attractive on valuation.