AFS Date? 01/2/17 ???TMXMoney has published an earning alert expecting the AFS to be released on 01/2/17... (yesterday!)
They project Q4 EPS as -.01 producing
-.07 EPS for the 2016 FY (to 30-Sep-16), and affirm that two analysts (most recently on 9-Nov-16) cite PHM as a
Strong Buy for Target Prices of
$0.50/sh and
$0.60/sh, most recently reported on November 9th.
In my experience for many companies these FS Dates are set arbitrarilly without any statement from the company settign an actual date. About half the companies I follow NR the date in advance, and about half are fairly consistent about when they release them. PHM published amended FY Statements for the previous two years on 30-Jan-15 and 4-Jan-16.
Therefore the formal release of 2016_FY AFS is likely to be any day now. Price movement is likely being fueled by that, and since it may happen without advanced warning, if the nunmbers confirm no unexpected nastiness (fear of such being the only reason we remain this low), I expect the SP to zoom thereafter... let's say to .25 in February.
The second reason to anticipate the AFS this month is to set up the final stages of the division into Apparo and Viemed. As of Nov 9:
"the company expects the legal and regulatory approval process to be completed early during 2017. This timing should drive a shareholder meeting to be held during the first quarter of 2017."
So anytime after the AFS, with a special meeting to approve the plan to occur by 31-Mar-17 at the latest. Unforeseen delays may slow the process, but I expect that was factored into the projections so that the process is likely to complete considerably sooner, in order to increase the opportunity to capture some of RRSP season's flush of new money looking for large and immediate ROI opportunities.
So with .25/share before the division (Market Cap 93 million), expect the IPO-equivalent of the new companies to hit the market at around these marks:
Viemed (30% of PHM): $0.07/share. (Mrkt Cap $28 million)
Apparo (70% of PHM): $0.18/share. (Mrkt Cap $65 million) PHM Q4 Pre-Report and Divisional Split Timing (11/09/16) and do not conform to any published statements by the company itself. Does anyone have a lead on a statement from PHM indicating this date?
However, it is a very reasonable guess, for two reasons at least.
TMXMoney PHM TP, EPS Consensus, and Earnings Alert | High Target Price Estimate | 0.60 | | Low Target Price Estimate | 0.50 | | Mean Target Price Estimate | 0.55 | | Standard Deviation | 0.07 | | Date of Most Recent Estimate | 11/09/16
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