Here are some of the Highlights Sector/Industry: Education Services
www.cibt.net
Market Data (as of December 16, 2016)
Current Price
C$0.58
Fair Value
C$1.00
Rating*
BUY
Risk*
3
52 Week Range
C$0.25 - C$0.65
Shares O/S
68.64 mm
Market Cap
C$39.81 mm
Current Yield
N/A
P/E (forward)
N/A
P/B
1.65x
YoY Return
123.1%
YoY TSX
17.2%
*See back of report for rating and risk definitions
Highlights
CIBT Education (“CIBT”, “company”) continues to make
excellent progress on its student housing projects, which
now includes three operating assets and several others in
development stages.
CIBT is one of the best performing stocks of our coverage
universe, with shares up by 123% YoY.
Vancouver’s rental market continues to remain strong and
tight. Also, rising rents are making Vancouver increasingly
unaffordable, especially for younger and lower income
households.
On September 7, 2016, the company announced its plans to
build a $230 million Education Mega Center in Surrey, B.C.
In November 2016, the company announced the acquisition
of Burnaby Heights - a residential and commercial building
located in Burnaby, B.C., for $17.75 million.
In FY2016 (ended August 31, 2016), revenues increased by
12.2% YoY to $36.11 million. Rental revenues were $4.96
million, up from just $0.65 million in the previous year.
We are raising our fair value estimate from $0.85 to $1.00