June buyback, Q2 estsIFP bought 1,688,770 shares in June for about $50 MM. Nice pernanent 2.6% increase to diluted EPS. IFP managemnet gets a little star for this.
My estimate for Q2: C$ 7.23/ shr diluted earnings. (Net income of a C$ 476 MM.) Will see how close this is.
Current analyst estimates range from $5.48 to $5.93/shr. Avg $5.77. Should beat by 25%.
Q3 nicely teed up as they closed on the GP mills so can add thaf for almost all of Q3. Another little star.
Now just need to follow West Fraser's lead and do a SIB. Except do a big one:
19 MM shrs between $30 and $40 would do the trick. That would be a big star for management.
Anyone happen know what the maximum size SIB is allowed at one go?