GREY:CXSNF - Post Discussion
Post by
retiredcf on Jun 19, 2014 7:39am
Top Pick
Here are the full details. First stock in the clip. GLTA
https://www.bnn.ca/Video/player.aspx?vid=383770
TOP PICKS:
LONG - Counsel Corp. (CXS TSX) - We continue to acquire CXS shares, as recently as this week at $1.78
Counsel Corp. is a financial services company operating in residential mortgage lending through its wholly owned subsidiary, Street Capital Financial Corp. The company has a market cap of $178 million and is a pure play on residential lending after divesting its non-core businesses. Counsel Corp. is an inexpensive growth stock at under nine times 2014E EPS. The company has applied for full bank status, which is estimated to be attained in 2015. As well, CXS is in the process of launching an uninsured business, which will ultimately compete in the realm where Home Capital Group (HCG-TSX) has performed so successfully.
| CXS-T |
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2014-06-18 |
TOP PICK |
Jerome Hass |
A lender in the residential space. Likes their potential earnings growth. Because the typical mortgage in Canada is 5 years, they are starting to get some of those rollovers coming through in the portfolio, and the profitability in those is about 2.5X an originated mortgage. Thinks there will be quite an improvement in profitability going forward. Inexpensive at about 9X earnings. One of the catalysts coming forward is their application for a bank license, which will open up some other opportunities.
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Price:
$1.820
Subject:
CANADIAN MID-LARGE & SHORT-LONG STRATEGIES
Bias:
SELECTIVE
Owned:
Yes |
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