WSP Global Inc

Sound bite for Twitter and StockTwits is: Dividend Paying Industrial. Results of stock price testing is that the stock price is probably expensive. Debt Ratios are generally fine, but Liquidity could be improved. The Dividend Payout Ratios (DPR) are good and the company is right that payouts are at an appropriate level for a growing company. The current dividend yield is low with dividend growth non-existent. See my spreadsheet on WSP Global Inc.

Is it a good company at a reasonable price? This stock did not turn out to be the dividend stock I had hoped, but I have also done well with this stock. Currently I am keeping this stock as it still seems like to good company to hold on to their stock. Unlike the analysts consensus, I think that the price is currently on the relatively expensive side.

I own this stock of WSP Global Inc (TSX-WSP, OTC-WSPOF). This company used to be called Genivar Income Fund (GNV.UN) and then Genivar Inc. (GNV). Genivar was in an article I read so I investigated it and decided to buy. In Sept 2011, I rationalized my portfolio. I sold stocks that did not make it into my core and bought stocks that could of the same type. In this case selling Stantec and buying Genivar.

When I was updating my spreadsheet, I noticed that they have stopped increasing their dividends, which I do not particularly like, but I have certainly done well with this stock. I have had it for almost 13 years and make a total return of 24.23% with 21.80% from capital gains and 2.43% from dividends. This stock used to be an income trust. Income Trust can pay out a lot more in dividends than corporations. Most of the companies changing from Income Trust to Corporations are having a hard time getting the dividends right. However, dividends were never that high and now are very low with a yield of just 0.70%.

If you had invested in this company in December 2005, for $1,000.00 you would have bought 100 shares at $10.00 per share. In December 2023, after 18 years you would have received $2,455.60 in dividends. The stock would be worth $18.574.00. Your total return would have been $21,019.09. This would be a total return of 22.77% per year with 17.62% from capital gain and 5.15% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$10.00	$1,370.00	100	18	$2,445.60	$18,574.00	$21,019.60

If you had invested in this company in December 2013, for $1,009.28 you would have bought 32 shares at $31.54 per share. In December 2023, after 10 years you would have received $480 in dividends. The stock would be worth $5,943.68. Your total return would have been $6,423.68. This would be a total return of 21.90% per year with 19.40% from capital gain and 2.50% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$31.54	$1,009.28	32	10	$480.00	$5,943.68	$6,423.68

The current dividend yield is low with dividend growth non-existent. The current dividend yield is low (below 2%) at a very low rate of just 0.70%. So low that it is hard to even call this stock a dividend stock. The 5 year median dividend yield is also low at 1.01%. The 10 year and historical median dividend yields are moderate (2% to 4% ranges) at 2.15% and 4.04%. The dividends have been flat since 2009. The company says it expects the dividend to remain at this level subject to the Board’s ongoing assessment of the Corporation’s future cash requirements, financial performance, liquidity, and other factors that the Board may deem relevant. There is a trade-off in paying dividends and providing cash flow for company growth.

The Dividend Payout Ratios (DPR) are good and the company is right that payouts are at an appropriate level for a growing company. The DPR for 2023 for Earnings per Share (EPS) is good at 34% with 5 year coverage at 42%. The DPR for 2023 for Adjusted Earnings per Share (AEPS) is good at 22% with 5 year coverage at 33%. The DPR for 2023 for Cash Flow per Share (CFPS) is good at 12% with 5 year coverage at 15%. The DPR for 2023 for Free Cash Flow (FCF) is good at 20% with 5 year coverage at 12%.

Item	Cur	5 Years
EPS	34.09%	42.35%
AEPS	21.74%	33.49%
CFPS	11.64%	15.15%
FCF	20.12%	12.19%

Debt Ratios are generally fine, but Liquidity could be improved. The Long Term Debt/Market Cap Ratio for 2023 is good at 0.13 and currently at 0.12. The Liquidity Ratio for 2023 is low at 1.15. If you added in Cash Flow after dividends, the ratios are still low at 1.32 and currently at 1.39. I prefer this ratio to be 1.50 or higher. The Debt Ratio for 2023 is good at 1.68 and 1.68 currently. The Leverage and Debt/Equity Ratios for 2023 are fine at 2.46 and 1.46.

Type	Year End	Ratio Curr
Lg Term R	0.13	0.12
Intang/GW	0.36	0.31
Liquidity	1.15	1.15
Liq. + CF	1.32	1.39
Debt Ratio	1.68	1.68
Leverage	2.46	2.46
D/E Ratio	1.46	1.46

The Total Return per year is shown below for years of 5 to 18 to the end of 2023. Under the Capital Gain column is the portion of the Total Return attributable to capital gains. Under the Dividend column is the portion of the Total Return attributable to dividends. See chart below.

From	Years	Div. Gth	Tot Ret	Cap Gain	Div.
2018	5	0.00%	27.63%	25.92%	1.71%
2013	10	0.00%	21.90%	19.40%	2.50%
2008	15	1.47%	17.33%	14.24%	3.08%
2005	18	6.47%	22.77%	17.62%	5.15%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 27.21, 37.53 and 44.62. The corresponding 10 year ratios are 24.34, 31.67 and 36.69. The corresponding historical ratios are 17.34, 20.98 and 24.62. The current ratio is 33.75, based on a stock price of $213.26 and EPS estimate for 2024 of $6.32. This ratio is between the median and high ratios of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable but above the median. The P/E Ratios are high, but fast growing companies tend to have rather high P/E Ratios.

I also have Adjusted Earnings per Share (AEPS) data. The 5-year low, median, and high median Price/Earnings per Share Ratios are 21.65, 26.14 and 31.42. The corresponding 10 year ratios are 19.67, 24.64 and 28.81. The current ratio is 27.13 based on a stock price of $213.26 and AEPS estimate for 2024 of $7.86. This ratio is between the median and high ratios of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable but above the median.

I get a Graham Price of $94.75. The 10-year low, median, and high median Price/Graham Price Ratios are 1.25, 1.54 and 1.81. The current P/GP Ratio is 2.25 based on a stock price of $213.26. The current ratio is above the high ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively expensive.

I get a 10-year median Price/Book Value per Share Ratio of 2.23. The current P/B Ratio is 4.20 based on a Book Value of $6,329M, Book Value per Share of $50.77 and a stock price of $213.26. The current ratio is 88% above the 10 year median ratios. This stock price testing suggests that the stock price is relatively expensive.

I get a 10-year median Price/Cash Flow per Share Ratio of 13.76. The current P/CF Ratio is 20.51 based on Cash Flow per Share estimate for 2024 of 10.40, Cash Flow of $1,297M and a stock price of $213.26. The current ratio is 49% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive.

I get an historical median dividend yield of 4.04%. The current dividend yield is 0.70% based on dividends of $1.50 and a stock price of $213.26. The current dividend 83% below the historical median dividend yield. This stock price testing suggests that the stock price is relatively expensive.

I get a 10 year median dividend yield of 2.15%. The current dividend yield is 0.70% based on dividends of $1.50 and a stock price of $213.26. The current dividend 67% below the 10 year median dividend yield. This stock price testing suggests that the stock price is relatively expensive. This test is best with rising dividends, but it is not good when dividends do not rise either.

The 10-year median Price/Sales (Revenue) Ratio is 1.23. The current P/S Ratio is 2.29 based on Revenue estimate for 2024 of $11,616M, Revenue per Share of 93.18 and a stock price of $213.26. The current ratio is 86% above the 10 year median ratios. This stock price testing suggests that the stock price is relatively expensive.

Results of stock price testing is that the stock price is probably expensive. The best tests for this stock at this time are probably the P/S Ratio and P/GP Ratio tests. They both show the stock price as expensive. The problem with the dividend yield tests is that the dividends are flat. I also think that the P/GP Ratio tests are better than the P/E Ratio and P/AEPS Ratio tests.

When I look at analysts’ recommendations, I find Strong Buy (1), Buy (8) and Hold (1). The consensus would be a Strong Buy. The 12 month stock price consensus is $238.80, with a high of $255.00 and low of $220.00. The consensus price of $238.80 implies a total return of 12.68% with 11.98% from capital gains and 0.70% from dividends. I do not think that a Strong Buy consensus matches a total return of 12.68%. I would expect a much higher expected consensus price.

There are a number of entries on Stock Chasefor this stock and they are mostly all buys, but all comment favorably on this stock. Stock Chase gives this stock 5 stars out of 5. Interestingly, Adam Othman on Motley Fool says sell because this stock is being targeted by a short seller. Amy Legate-Wolfe on Motley Fool suggests buying this stock because it is a growth stock. The company put out a press release on Globe Newswire about this company’s fourth quarter of 2023.

Simply Wall Street via Yahoo Finance reviews this stock. Simply Wall Street gives this stock 2 and one half stars out of 5. It has one warning of has a high level of debt.

Stocks can get targeted for various reasons by short sellers. The Short Sellers are not always right and they do not always win. The stock price has declined already because of the short seller, but I noticed that one analyst has suggested that the short seller has already gotten out of his short-sell position. So be careful what you do.

WSP Global Inc provides engineering and design services to clients in the Transportation and Infrastructure, Property and Buildings, Environment, Power and Energy, Resources, and Industry sectors. It also offers strategic advisory services. The firm operates through four reportable segments namely, Canada, Americas (United States and Latin America), EMEIA (Europe, Middle East, India, and Africa), and APAC (Asia Pacific, comprising Australia, New Zealand, and Asia). Its web site is here WSP Global Inc.

The last stock I wrote about was about was Fortis Inc (TSX-FTS, OTC-FRTSF) ... learn more. The next stock I will write about will be Algoma Central Corporation (TSX-ALC, OTC-AGMJF) ... learn more on Monday, May 6, 2024 around 5 pm.

This blog is meant for educational purposes only and is not to provide investment advice. I am not a licensed professional investment advisor. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

Fortis Inc

Sound bite for Twitter and StockTwits is: Dividend Growth Utility. Results of stock price testing is that the stock price is reasonable and maybe cheap. Debt Ratios show that this company has a high debt level. The Dividend Payout Ratios (DPR) are rather high, but the DPR for this company has essentially been high forever. The current dividend yield is moderate with dividend growth low. See my spreadsheet on Fortis Inc .

Is it a good company at a reasonable price? It is interesting that the analysts’ recommendations are rather negative, but I cannot find much in the way of negative comment on this stock. Although one analyst remarked that utilities are currently out of favour because of high interest rates. The stock price is coming up reasonable, with the 10 year median dividend yield test saying the stock price is relatively cheap. I have no intentions of selling any of my shares.

I own this stock of Fortis Inc (TSX-FTS, OTC-FRTSF). I bought this stock as Newfoundland Light and Power Co. Ltd. Class A shares in 1987. I bought more in 1995, 1998 and 2005. In 2005 I sold some Fortis from my RRSP account as I needed to get $20,000 in this account for a withdrawal and I was concerned about the debt liquidity of this stock. However, this stock continues to be one of my big stock holdings.

When I was updating my spreadsheet, I noticed I have done well with this stock. I have had it for 36 years and have made 12.47% per year with 7.07% from capital gains and 5.40% from dividends.

If you had invested in this company in December 2013, for $1,004.85 you would have bought 33 shares at $30.45 per share. In December 2023, after 10 years you would have received $588.06 in dividends. The stock would be worth $1,798.83. Your total return would have been $2,386.89. This would be a total return of 10.42% per year with 6.00% from capital gain and 4.42% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$30.45	$1,004.85	33	10	$588.06	$1,798.83	$2,386.89

The current dividend yield is moderate with dividend growth low. The current dividend yield is moderate (2% to 4% ranges) at 4.36%. The 5, 10 and historical dividend yields are also moderate at 3.34%, 3.34% and 3.71%. The dividend increases for the past 5 years is low (below 8% per year) at 5.8% per year. The last dividend increase was 2023 and it was for 4.42%. It is not on the current MoneySense list, but it is on my other dividend lists.

The Dividend Payout Ratios (DPR) are rather high, but the DPR for this company has essentially been high forever. The DPR for 2023 for Earnings per Share (EPS) is too high at 74% with 5 year coverage at 74%. The DPR for 2023 for Adjusted Earnings per Share (AEPS) is too high at 74% with 5 year coverage at 76%. The DPR for 2023 for Adjusted Funds from Operations (AFFO) is too fine at 62% with 5 year coverage at 64%. The DPR for 2023 for Cash Flow per Share (CFPS) is good at 31% with 5 year coverage at 30%. The DPR for 2023 for Free Cash Flow (FCF) is not calculable because the FCF is negative.

Item	Cur	5 Years
EPS	73.71%	74.04%
AEPS	73.95%	75.63%
AFFO	62.43%	64.39%
CFPS	30.92%	30.20%
FCF	-107.85%	-122.97%

Debt Ratios show that this company has a high debt level. The Long Term Debt/Market Cap Ratio for 2023 are too high at 1.02 and currently at 1.03, but utilities tend to have high debt. The Liquidity Ratio for 2023 is good at 1.55 and 1.50 currently. If you added in Cash Flow after dividends, the ratios are still too low at 1.08 and currently at 1.09. If you take out the current portion of the long term debt the current ratios are fine at 1.76 and currently at 1.78. The Debt Ratio for 2023 is good at 1.55. The Leverage and Debt/Equity Ratios for 2023 are fine at 2.8 and 1.83.

Type	Year End	Ratio Curr
Lg Term R	1.02	1.03
Intang/GW	0.51	0.52
Liquidity	0.67	0.67
Liq. + CF	1.08	1.09
Liq. +CF+D	1.76	1.78
Debt Ratio	1.55	1.55
Leverage	2.83	2.83
D/E Ratio	1.83	1.83

The Total Return per year is shown below for years of 5 to 42 to the end of 2023. Under the Capital Gain column is the portion of the Total Return attributable to capital gains. Under the Dividend column is the portion of the Total Return attributable to dividends. See chart below.

From	Years	Div. Gth	Tot Ret	Cap Gain	Div.
2018	5	5.78%	7.86%	3.67%	4.18%
2013	10	6.30%	10.42%	6.00%	4.42%
2008	15	5.66%	9.53%	5.32%	4.21%
2003	20	7.68%	11.33%	6.76%	4.57%
1998	25	6.72%	11.88%	7.21%	4.67%
1993	30	6.12%	11.71%	6.99%	4.72%
1988	35	5.78%	12.23%	7.04%	5.19%
1983	40	5.91%	12.17%	6.85%	5.32%
1981	42	6.17%	13.25%	7.20%	6.05%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 17.63, 20.14 and 22.63. The corresponding 10 year ratios are 17.64, 19.75 and 21.83. The corresponding historical ratios are 13.15, 15.37 and 17.47. The current P/E Ratio is 18.71 based on a stock price of $54.10 and EPS estimate for 2024 of $3.20. The current ratio is between the low and median ratios of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I also have Adjusted Earnings per Share (AEPS) data. The 5-year low, median, and high median Price/Adjusted Earnings per Share Ratios are 17.63, 20.38 and 22.89. The corresponding 10 year ratios are 16.73, 18.98 and 21.09. The current ratio is 16.30 based on a stock price of $54.10 and AEPS estimate for 2024 of $3.32. The current ratio is below the low ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively cheap.

I get a Graham Price of $54.89. The 10-year low, median, and high median Price/Graham Price Ratios are 0.96, 1.08 and 1.20. The current P/GP Ratio is 0.99 based on a stock price of $54.10. This ratio is between the low and median ratios of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I get a 10-year median Price/Book Value per Share Ratio of 1.40. The current ratio is 1.34 based on a stock price of $54.10, Book Value of $19,786M and Book Value per Share of 40.33. The current ratio is 4% below the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I also have a Book Value per Share estimate for 2024 of $43.70. This analyst calculates book value differently than I do and the 10 year median ratios for this way is 1.26. The Book Value per Share estimate of 43.70 with a stock price of $54.10 implies a ratio of 1.24 and Book Value of $21,439M. This ratio is 2% below the 10 year ratio of 1.26. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I get a 10-year median Price/Cash Flow per Share Ratio of 8.70. The current P/CF Ratio is 7.26 based on a stock price of $54.10, Cash Flow per Share estimate for 2024 of $7.45 and Cash Flow of $3,655M. The current ratio is 16% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I get an historical median dividend yield of 3.71. The current dividend yield is 4.36% based on dividends of $2.36 and a stock price of $54.10. The current dividend yield is 18% above the historical median dividend yield. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I get a 10 year median dividend yield of 3.34. The current dividend yield is 4.36% based on dividends of $2.36 and a stock price of $54.10. The current dividend yield is 31% above the 10 year median dividend yield. This stock price testing suggests that the stock price is relatively cheap.

The 10-year median Price/Sales (Revenue) Ratio is 2.38. The current P/S Ratio is 2.21 based on Revenue estimate for 2024 of $11,992M, Revenue per Share of $24.44 and a stock price of $54.10. The current ratio is 7% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median.

Results of stock price testing is that the stock price is reasonable and maybe cheap. The 10 year dividend yield test says that the stock price is relatively cheap. This is confirmed by the P/S Ratio test which says the stock price is relatively reasonable. Most of the rest of the testing is say that the stock price is reasonable, with the P/AESP test saying the stock price is relatively cheap.

When I look at analysts’ recommendations, I find Strong Buy (2), Buy (2), Hold (7), Underperform (1) and Sell (1). This rather unusual to have such a range. The consensus would be a Hold. The 12 month stock price consensus is $55.88, with a high of $61.00 and low of $38.00. The consensus price of $55.88 implies a total return of 7.65% with 3.29% from capital gains and 4.36% from dividends.

The only negative comment I see is an analyst said the utilities are under pressure from rising interest rates. Simply Wall Street says it has a low Return on Equity (ROE) for having a rather high debt rate. They do not think that is a good result. There are comments about it debt load.

There are lots of entries on Stock Chase for Fortis and analysts like this stock and think it is a buy. Stock Chase gives this stock 5 stars out of 5. Sneha Nahata on Motley Fool thinks you should buy this stock for passive income. Andrew Walker on Motley Fool thinks that the stock is low and has a great tracker record for dividend increases. The company put out a press release via Business Newswire about their fourth quarter of 2023.

Simply Wall Street via Yahoo Finance reviews this stock and its ROE. Simply Wall Street Gives this stock 3 and one half stars out of 5. Simply Wall Street gives this stock 2 warnings of debt is not well covered by operating cash flow; and dividend of 4.37% is not well covered by cash flows.

Fortis owns and operates eight utility transmission and distribution subsidiaries in Canada and the United States. The company has smaller stakes in electricity generation and several Caribbean utilities. Its web site is here Fortis Inc .

The last stock I wrote about was about was AtkinsRealis (TSX-ATRL, OTC-SNCAF) ... learn more. The next stock I will write about will be WSP Global Inc (TSX-WSP, OTC-WSPOF) ... learn more on on Friday, May 3, 2024 around 5 pm. Tomorrow on my other blog I will write about Something to Buy May 2024.... learn more on Thursday, May 2, 2024 around 5 pm.

This blog is meant for educational purposes only and is not to provide investment advice. I am not a licensed professional investment advisor. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

AtkinsRealis

Sound bite for Twitter and StockTwits is: Dividend Paying Industrial. Results of stock price testing is that the stock price is probably on the expensive side. Debt Ratios need improving. The Dividend Payout Ratios (DPR) are good. The current dividend yield is extremely low with dividends flat after a dividend cut. See my spreadsheet on AtkinsRealis.

Is it a good company at a reasonable price? When dividends are at 0.15%, the company can hardly be called a dividend company. Dividends were cut over 90% going into 2020 and they have been flat since. Even though analysts are calling this stock a strong buy, my analysis suggests that the price is on the expensive side. It is never good when companies cut dividends. It is also not a good sign when a company changes its name. I

do not own this stock of AtkinsRealis (TSX-ATRL, OTC-SNCAF). This stock was one from Mike Higgs' list of dividend growth stocks as SNC-Lavalin Group Inc. By 2008 this stock had grown so much it was too high a percentage of my portfolio so I sold 1/3 of my stock. I sold all my stock in SNC-Lavalin (TSX-SNC, OTC-SNCAF) in 2019. I had given up hope that there will be any sort of resolution for this company anytime soon. I live off my dividends and they have cut the dividends twice that year.

When I was updating my spreadsheet, I noticed that this company used to be SNC-Lavalin Group Inc (TSX-SNC, OTC-SNCAF). See news Release.

If you had invested in this company in December 2013, for $1,003.59 you would have bought 21 shares at $47.79 per share. In December 2023, after 10 years you would have received $121.80 in dividends. The stock would be worth $985.86. Your total return would have been $1,017.66. This would be a total return of 0.13% per year with 1.13% from capital loss and 1.26% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$47.79	$1,003.59	21	10	$121.80	$895.86	$1,017.66

The current dividend yield is extremely low with dividends flat after a dividend cut. The current dividends are low (below 2%) at just 0.15%. Hardly a dividend at all. The 5, 10 and historical dividend yields are also low at 0.59%, 1.35% and 1.43%. The dividends are currently flat after dividends were cut by 93% in 2019. Analysts do think that dividends will grow again and probably within 2 years, maybe.

The Dividend Payout Ratios (DPR) are good. The DPR for 2023 for Earnings per Share (EPS) is good at 5% with 5 year coverage at 26%. The DPR for 2023 for Adjusted Earnings per Share (AEPS) is good at 5% with 5 year coverage at 21%. The DPR for 2023 for Cash Flow per Share (CFPS) is good at 4% with 5 year coverage at 16%. The DPR for 2023 for Free Cash Flow (FCF) can not be calculated because FCF is negative.

Item	Cur	5 Years
EPS	4.88%	26.17%
AEPS	5.13%	20.97%
CFPS	3.99%	15.89%
FCF	-54.02%	-12.52%

Debt Ratios need improving. The Long Term Debt/Market Cap Ratio for 2023 is good at 0.16 and currently at 0.13. The Liquidity Ratio for 2023 far too low at 0.85. If you added in Cash Flow after dividends, the ratios are still too low at 0.86 and currently at 0.94. If you add back in current debt, they are still too low for 2023 at 1.11 and currently at 1.21. I prefer this ratio to be 1.50 or higher. The Debt Ratio for 2023 is low at 1.45. I prefer this ratio to be 1.50 or higher. The Leverage and Debt/Equity Ratios for 2023 are too high at 3.20 and 2.20. I prefer these ratios to be less than 3.00 and 2.00.

Type	Year End	Ratio Curr
Lg Term R	0.16	0.13
Intang/GW	0.48	0.38
Liquidity	0.85	0.85
Liq. + CF	0.86	0.94
Liq. +CF +D	1.11	1.21
Debt Ratio	1.45	1.45
Leverage	3.20	3.20
D/E Ratio	2.20	2.20

The Total Return per year is shown below for years of 5 to 35 to the end of 2023. Under the Capital Gain column is the portion of the Total Return attributable to capital gains. Under the Dividend column is the portion of the Total Return attributable to dividends. See chart below.

From	Years	Div. Gth	Tot Ret	Cap Gain	Div.
2018	5	-41.30%	-1.25%	-1.46%	0.21%
2013	10	-21.67%	0.13%	-1.13%	1.26%
2008	15	-11.26%	1.90%	0.30%	1.60%
2003	20	-2.87%	6.95%	4.71%	2.25%
1998	25	0.54%	14.64%	10.67%	3.97%
1993	30	4.19%	14.04%	10.56%	3.48%
1988	35	4.79%	19.48%	13.96%	5.51%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 15.11, 21.67 and 28.23. The corresponding 10 year ratios are 14.40, 19.39 and 25.55. The corresponding historical ratios are 14.34, 20.77 and 25.05. The current P/E Ratio is 25.07 based on a stock price of $54.27 and EPS estimate for 2024 of $2.17. The current ratio is between the median and high ratios of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable but above the median. Note that the more stable these ratios are over time, the better this test is.

I also have Adjusted Earnings per Share (AEPS) data. The 5-year low, median, and high median Price/Adjusted Earnings per Share Ratios are 23.13, 34.06 and 43.79. The corresponding 10 year ratios are 15.89, 21.35 and 26.81. The current P/AEPS Ratio is 22.71 based on AEPS estimate for 2024 of 2.39 and a stock price of $54.07. The current ratio is between the median and high ratios of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable but above the median.

I get a Graham Price of $31.13. The 10-year low, median, and high median Price/Graham Price Ratios are 1.11, 1.52 and 1.97. The current P/GP Ratio is 1.74 based on a stock price $54.07. The current ratio is between the median and high ratios of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable but above the median.

I get a 10-year median Price/Book Value per Share Ratio of 1.82. The current P/B Ratio is 3.01 based on a Book Value of $3,164M, Book Value per Share of $18.02 and a stock price of $54.07. The current ratio is 65% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive.

I also have a Book Value per Share estimate for 2024 of $20.20. This value implies a ratio of 2.69 based on a stock price of $54.07 and Book Value of $3,164M. This ratio is 47% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive.

I get a 10-year median Price/Cash Flow per Share Ratio of 33.14. The current P/CF Ratio is 21.54 based on a stock price of $54.07, Cash Flow per Share estimate for 2024 of $2.52 and Cash Flow of $442M. This ratio is 35% below the 10 year median ratios. This stock price testing suggests that the stock price is relatively cheap.

I get a historical median dividend yield of 1.43%. The current dividend yield is 0.15% based on dividends of $0.08. The current dividend yield is 90% below the historical median dividend yield. This stock price testing suggests that the stock price is relatively expensive.

I get a 10 year median dividend yield of 1.35%. The current dividend yield is 0.15% based on dividends of $0.08. The current dividend yield is 89% below the historical median dividend yield. This stock price testing suggests that the stock price is relatively expensive.

The 10-year median Price/Sales (Revenue) Ratio is 0.71. The current P/S Ratio is 1.04 based on Revenue estimate for 2024 of $9,122M, Revenue per Share of $51.96 and a stock price of $54.07. The current ratio is 46% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive.

Results of stock price testing is that the stock price is probably on the expensive side. The dividend yield testing says the stock price is expensive. These are not good tests when dividends are cut, but it is also not a good sign when dividends are cut. However, the P/S Ratio testing is saying that the stock price is expensive also. Most of the rest of the testing is saying the stock price is reasonable, but above the median or it is expensive.

When I look at analysts’ recommendations, I find Strong Buy (5), Buy (6), and Hold (2). The consensus would be a Strong Buy. The 12 month stock price consensus is $60.21 with a high of $66.00 and low of $46.50. The consensus stock price of $60.21 implies a total return of 11.09% with 10.95% from capital gains and 0.15% from dividends.

There are two recommendations on Stock Chase for 2024 and they are both buys. Stock Chase gives this stock 4 stars out of 5. Andrew Button on Motley Fool says stock is growing fast but there are risks. Aditya Raghunath on Motley Fool thinks this is a growth stock to buy. The company put out a press release via Newswire about their fourth quarter 2023 results.

Simply Wall Street via Yahoo Finance reviews this stock. They give two warnings of debt is not well covered by operating cash flow; and significant insider selling over the past 3 months. Simply Wall Street gives this stock 2 and one half stars out of 5.

Based in Montreal, AtkinsRealis is a fully integrated professional services and project management firm that offers a wide range of services, including financing, consulting, engineering and construction, procurement, and operations and maintenance. The firm serves clients in the infrastructure, nuclear, and engineering design and project management industries. Its web site is here AtkinsRealis.

The last stock I wrote about was about was Barclays PLC ADR (LSE-BARC, NYSE-BCS) ... learn more. The next stock I will write about will be Fortis Inc (TSX-FTS, OTC-FRTSF) ... learn more on Wednesday, May 1, 2024 around 5 pm. Tomorrow on my other blog I will write about Dividend Stocks May 2024.... learn more on April 30, 2024 around 5 pm.

This blog is meant for educational purposes only and is not to provide investment advice. I am not a licensed professional investment advisor. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

Barclays PLC ADR

Sound bite for Twitter and StockTwits is: Dividend Growth Bank. Results of stock price testing is that the stock price is probably reasonable. Debt Ratios are fine. The Dividend Payout Ratios (DPR) are fine. The current dividend yield is moderate with dividend growth currently moderate. See my spreadsheet on Barclays PLC ADR.

Is it a good company at a reasonable price? Some international banks have had a hard time since 2008 as this one did. This bank seems to be recovering. The stock price on this stock seems to be reasonable at this time.

I do not own this stock of Barclays PLC ADR (LSE-BARC, NYSE-BCS), but I used to. I bought this stock when Barrett took over in 2000. Barrett used to run Bank of Montreal in Canada. At that time, it was a good dividend paying stock and I thought it would give me some geographical diversifications. I sold it in 2017 as I had lost faith in this bank making me any money. At that time, I had a total return of 1.25% with a capital loss of 4.92% and dividends of 6.17. I had had the stock for almost 18 years.

When I was updating my spreadsheet, I noticed that to do an analysis of this ADR from the US market, I have to use 3 currencies, CDN$, US$ and UK£. So, this is complex. I will not, in the future, buy foreign companies. I will certainly not buy any ADRs in the future because analysis is complex.

I did build my initial portfolio with US and foreign stock as well as Canadian stocks. I also built it from mutual funds which were some of my first investments. I will not go back to US and foreign stock now, just as I will not go back to mutual funds. I belong to a number of investments clubs and certainly, the majority of people in these clubs buy US stocks as well as Canadian stocks.

Because I was dealing in the 3 currencies, I thought it would be interesting to look at the 10 year return in all 3 currencies. This is what my spreadsheet is showing me. According to my spreadsheet, the US$ has gone up by 2.2% per year compared to the CDN$, the UK£ has gone down 2.6% per year against the US$, and the UK£ has gone down 0.46% per year against the CDN$

If you had invested in this company in December 2013, for $1,002.73 you would have bought 52 shares at $19.28 per share. In December 2023, after 10 years you would have received $181.89 in dividends. The stock would be worth $541.95. Your total return would have been $723.84. This would be a total loss of 3.59% per year with 5.97% from capital loss and 2.38% from dividends. This is CDN$.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$19.28	$1,002.72	52	10	$181.89	$541.95	$723.84

If you had invested in this company in December 2013, for $1,015.28 you would have bought 56 shares at $18.13 per share. In December 2023, after 10 years you would have received $136.40 in dividends. The stock would be worth $441.28. Your total return would have been $577.68. This would be a total loss of 6.08% per year with 7.99% from capital loss and 1.98% from dividends. This is US$

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$18.13	$1,015.28	56	10	$136.40	$441.28	$577.68

If you had invested in this company in December 2013, for £1,000.36you would have bought 369 shares at £2.71per share. In December 2023, after 10 years you would have received £180.63 in dividends. The stock would be worth £567.45. Your total return would have been £748.07. This would be a total loss of 3.18% per year with 5.51% from capital loss and 2.33% from dividends. This is UK£.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
£2.71	£1,000.36	369	10	£180.63	£567.45	£748.07

The current dividend yield is moderate with dividend growth currently moderate. The current dividend yield is moderate (2% to 4%) at 3.90% based on the price of BARC on the London Exchange. The 5, 10 and historical dividend yields are also moderate at 3.54%, 2.81% and 3.39%.

Over the past 5 years, the dividend growth is 11.25% per year. The last dividend increase was in 2024 and was for 6%. This bank pays out two dividends in a year, a bigger dividend in the first part of the year based on the previous years result and a smaller dividend near the end of each year. Also, dividend growth is good for last 5 years but this was after dividends were cut. Dividend growth for the past is very low to negative. See Total Return paragraph below.

The Dividend Payout Ratios (DPR) are fine. The DPR for 2023 for Earnings per Share (EPS) is good at 28% with 5 year coverage at 21%. The DPR for 2023 for Cash Flow per Share (CFPS) is not calculable because of negative cash flow with 5 year coverage good at 1.9%. The DPR for 2023 for Free Cash Flow (FCF) is not calculable due to negative FCF with 5 year coverage good at 4.4%.

Item	Cur	5 Years
EPS	28.62%	20.70%
CFPS	0.00%	1.93%
FCF	-45.96%	4.42%

Debt Ratios are fine. The Long Term Debt/Covering Assets Ratio for 2023 is good at 0.74. This is the important ratios rather than the Long Term Debt/Market Cap Ratio. The Liquidity Ratio does not apply to banks. The Debt Ratio for 2023 is fine for a bank at 1.05.

Type	Year End	Ratio Curr
Lg Term R+A	0.74	0.74
Lg Term R	23.12	17.34
Intang/GW	0.25	0.25
Debt Ratio	1.05	1.05

The Total Return per year is shown below for years of 5 to 30 to the end of 2023 in. UK£. Under the Capital Gain column is the portion of the Total Return attributable to capital gains. Under the Dividend column is the portion of the Total Return attributable to dividends. See chart below.

From	Years	Div. Gth	Tot Ret	Cap Gain	Div.
2018	5	11.34%	3.55%	0.43%	3.12%
2013	10	1.71%	-3.18%	-5.51%	2.33%
2008	15	-9.43%	3.16%	0.02%	3.15%
2003	20	-4.78%	-2.27%	-5.69%	3.42%
1998	25	-1.33%	2.42%	-2.96%	5.38%
1993	30	2.38%	8.49%	0.15%	8.34%

The Total Return per year is shown below for years of 5 to 30 to the end of 2023 in. US$. Under the Capital Gain column is the portion of the Total Return attributable to capital gains. Under the Dividend column is the portion of the Total Return attributable to dividends. See chart below.

From	Years	Div. Gth	Tot Ret	Cap Gain	Div.
2018	5	11.25%	3.92%	0.89%	3.04%
2013	10	-0.94%	-5.93%	-7.99%	2.06%
2008	15	-10.26%	1.65%	-1.44%	3.10%
2003	20	-5.80%	-4.03%	-7.36%	3.33%
1998	25	-2.29%	1.40%	-4.11%	5.51%
1993	29	1.84%	9.14%	-0.33%	9.47%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 4.56, 6.31 and 8.42. The corresponding 10 year ratios are 4.38, 6.00 and 7.62. The corresponding historical ratios are 8.04, 9.98 and 12.51. The current P/E Ratio is 6.88 based on a stock price of $10.37 and EPS estimate for 2024 of $1.51. This ratio is between the median and high ratios of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable but above the median. This testing is in US$.

The 5-year low, median, and high median Price/Earnings per Share Ratios are 4.80, 5.93, 7.29. The corresponding 10 year ratios are 4.68, 5.92, and 7.17. The corresponding historical ratios are 7.11, 10.04 and 11.59. The current P/E Ratio is 6.75 based on a stock price of £2.05 and EPS estimate for 2024 of £0.304. This ratio is between the median and high ratios of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable but above the median. This testing is in UK£.

I get a Graham Price of £5.11. The 10-year low, median, and high median Price/Graham Price Ratios are 0.44, 0.59 and 0.79. The current P/GP Ratio is 0.40 based on a stock price of £2.05. This ratio is below the low ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively cheap. This testing is in UK£.

I get a 10-year median Price/Book Value per Share Ratio of 0.53. The current P/B Ratio is 0.54 based on a stock price of £2.05, Book Value of £57,920 and Book Value per Share of £3.82. The current ratio is 1.9% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable but above the median. This testing is in UK£.

I also have an estimate for the Book Value per Share for 2024 of £4.20. This analyst calculates the Book Value differently than I do, and their 10 year median ratios would be 0.43. The BVPS estimate of £4.20 implies a ratio of 0.49 with a stock price of £2.05 and Book Value of £63,651. This ratio is 12% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable but above the median. This testing is in UK£.

I get an historical median dividend yield of 3.39%. The current dividend yield is 3.90% based on dividends of £0.08 and a stock price of £2.05. The current dividend yield is 15% above the historical median dividend yield. This stock price testing suggests that the stock price is relatively reasonable and below the median. This testing is in UK£. I get a 10 year median dividend yield of 2.53%. The current dividend yield is 3.90% based on dividends of £0.08 and a stock price of £2.05. The current dividend yield is 45% above the 10 year median dividend yield. This stock price testing suggests that the stock price is relatively cheap. This testing is in UK£.

The 10-year median Price/Sales (Revenue) Ratio is 1.38. The current ratio is 1.20 based on Revenue estimate for 2024 of £25,946M, Revenue per Share of £1.71 and a stock price of £2.05. The current ratio is 13% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median. This testing is in UK£.

Results of stock price testing is that the stock price is probably reasonable. The 10 year median dividend yield testing is showing the stock price as cheap. However, dividends lately have been going down as well as up, so I wonder how good this test is. The P/S Ratio testing is showing the stock price as reasonable. Most of the rest of the testing is showing the stock price as reasonable and above and below the median. I am doing most of the testing in UK£ as this is a UK company reporting in UK£.

When I look at analysts’ recommendations, I find Strong Buy (9), Buy (6), Hold (2) and Underperform (1). The consensus would be a Strong Buy. The 12 months stock price consensus is £2.455 with a high of £3.30 and a low of £1.881. The consensus stock price of £2.455 implies a total return of 23.66% with 19.76% from capital gains and 3.90% from dividends.

The last entries on Stock Chase is in 2021 and they are a buy and a sell. Stock Chase gives this stock 1 star out of 5. Alan Oscroft on Motley Fool thinks that this stock, along with the rest of the UK Bank Sector will be erratic for a while yet. Jesse Williamson on Motley Fool thinks now is a good time to buy this stock. This bank put out a press release via CNBC about their 2023 results.

Simply Wall Street via Yahoo Finance reviews this stock. Simply Wall Street gives this stock 3 and one half stars out of 5. They have one warning of unstable dividend track record.

Barclays PLC is a major global banking and financial services company. With 325 years of expertise in banking, and operating through an international network in many countries and regions in Europe, the U.S., Africa & Asia, the company provides a wide range of financial services to individuals, corporations, and institutions. Its web site is here Barclays PLC ADR.

The last stock I wrote about was about was Canadian Natural Resources (TSX-CNQ, NYSE-CNQ) ... learn more. The next stock I will write about will be AtkinsRealis (TSX-ATRL, OTC-SNCAF) ... learn more on Monday, April 29, 2024 around 5 pm.

This blog is meant for educational purposes only and is not to provide investment advice. I am not a licensed professional investment advisor. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

Canadian Natural Resources

Sound bite for Twitter and StockTwits is: Dividend Growth Resources. Results of stock price testing is that the stock price is probably on the expensive side, but could still be reasonable. Debt Ratios are fine. The Dividend Payout Ratios (DPR) are good. The current dividend yield is moderate with dividend growth good. See my spreadsheet on Canadian Natural Resources.

Is it a good company at a reasonable price? This is a resource stock and so would be cyclical. Lately the stock price has been climbing and it is probably at its high point ever. It is risky because it is into oil and gas explorations. Because it is a resource stock, I do not have much invested. Oil and gas are a big part of the TSX, so I do keep an eye on this sector. The 10 year dividend yield tests say the stock price is reasonable, but all other testing is saying the stock price is relatively expensive. With the P/E Ratio and P/AEPS Ratio testing, the ratios are very low ones. I am not going to sell any of my shares, but neither will I buy any more.

I own this stock of Canadian Natural Resources (TSX-CNQ, NYSE-CNQ). I first bought CNQ in September 2012 because the dividend yield was relatively high. The 5 and 10 year median dividend yields were 0.73% and 0.75%. The current one was at 1.31% and I got it with a yield of 1.32%. In April 2013 I bought more shares of this stock because the yield is now at 1.54%. I bought another 100 shares in 2020 because the yield was 11.63%.

When I was updating my spreadsheet, I noticed this stock’s price has been climbing lately. I have done well with this stock. I have had it for 12 years and have a total return of 17.07% with 13.81% from capital gains and 3.26% from dividends. I have this stock to track oil stocks. They are a large part of the TSX.

There seems to be a lot of insiders selling going on. A lot of it has to do people not taking up options. However, with the change in President, the old President sold all his shares. There is also some selling with a director I am following and he has been selling shares over the past few years. There has always been lots of insider selling showing and mostly has to do with people not taking up options as far as I can see.

If you had invested in this company in December 2013, for $1,006.32 you would have bought 28 shares at $13.94 per share. In December 2023, after 10 years you would have received $503.51 in dividends. The stock would be worth $2,267.72. Your total return would have been $2,771.25. This would be a total return of 11.54% per year with 8.46% from capital gain and 3.08% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$35.94	$1,006.32	28	10	$503.51	$2,267.72	$2,771.23

The current dividend yield is moderate with dividend growth good. The current dividend yield is moderate (2% to 4% ranges) at 3.97%. The 5 and 10 year median dividend yields are also moderate at 4.38% and 3.59%. The historical median dividend yield is low (below 2%) at 1.22%. Dividends were lower than 2% before 2014. The dividend increases are good (15% and higher) at 21.5% per year over the past 5 years. The last dividend increase was in 2024 and it was for 5%. However, this company often increases dividends more than once in a year. Dividends in 2024 are 16.9% higher than in 2023.

The Dividend Payout Ratios (DPR) are good. The DPR for 2023 for Earnings per Share (EPS) is good at 48% with 5 year coverage at 46%. The DPR for 2023 for Adjusted Earnings per Share (AEPS) is good at 46% with 5 year coverage at 46%. The DPR for 2023 for Cash Flow per Share (CFPS) is good at 26% with 5 year coverage at 23%. The DPR for 2023 for Free Cash Flow (FCF) is good at 52% with 5 year coverage at 38%.

Item	Cur	5 Years
EPS	47.52%	46.46%
AEPS	45.87%	46.29%
CFPS	25.78%	23.21%
FCF	52.30%	37.55%

Debt Ratios are fine. The Long Term Debt/Market Cap Ratio for 2023 is good at 0.11 and currently at 0.09. The Liquidity Ratio for 2023 is too low at 0.96. If you added in Cash Flow after dividends, the ratios are fine at 2.11 and currently at 2.36. The Debt Ratio for 2023 is good at 2.10. The Leverage and Debt/Equity Ratios for 2023 are good at 1.91and 0.91.

Type	Year End	Ratio Curr
Lg Term R	0.11	0.09
Intang/GW	0.00	0.00
Liquidity	0.96	0.96
Liq. + CF	2.11	2.36
Debt Ratio	2.10	2.10
Leverage	1.91	1.91
D/E Ratio	0.91	0.91

The Total Return per year is shown below for years of 5 to 33 to the end of 2023. Under the Capital Gain column is the portion of the Total Return attributable to capital gains. Under the Dividend column is the portion of the Total Return attributable to dividends. See chart below.

From	Years	Div. Gth	Tot Ret	Cap Gain	Div.
2018	5	21.51%	24.76%	19.71%	5.04%
2013	10	22.15%	11.54%	8.46%	3.08%
2008	15	21.45%	10.70%	8.33%	2.37%
2003	20	21.53%	14.64%	12.15%	2.49%
1998	25	22.62%	16.71%	14.29%	2.42%
1993	30		14.42%	12.69%	1.73%
1990	33		22.35%	19.61%	2.74%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 6.54, 7.84 and 9.14. The corresponding 10 year ratios are 6.59, 7.90 and 9.22. The corresponding historical ratios are 10.23, 13.56 and 15.70. The current P/E Ratio is 13.94 based on a stock price of $105.84 and EPS estimate for 2024 of $7.60. The current ratio is above the high ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively expensive. Note that these ratios are quite low.

I also have Adjusted Earnings per Share (AEPS) data. The 5-year low, median, and high median Price/Adjusted Earnings per Share Ratios are 5.57, 6.67 and 8.55. The corresponding 10 year ratios are 9.02, 10.91 and 12.66. The current P/AEPS Ratio is 13.87 based on a stock price of $105.84 and AEPS estimate for 2024 of $7.63. The current ratio is above the high ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively expensive. Note that these ratios are quite low.

I also have Adjusted Funds from Operations (AFFO) data. The 5-year low, median, and high median Price/ Adjusted Funds from Operations Ratios are 3.50, 4.34 and 5.05. The corresponding 10 year ratios 3.86, 5.59 and 6.66. The current P/AFFO Ratio is 7.67 based on a stock price of $105.84 and AEPS estimate for 2024 of $7.63. The current ratio is above the high ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively expensive.

I get a Graham Price of $79.85. The 10-year low, median, and high median Price/Graham Price Ratios are 0.73, 0.94 and 1.12. The current P/GP Ratio is 1.33 based on a stock price of $105.84. The current ratio is above the high ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively expensive.

I get a 10-year median Price/Book Value per Share Ratio of 1.47. The current P/B Ratio is 2.85 based on a stock price of $105.84, Book Value of $39,832M and Book Value per Share of $37.14. The current ratio is 94% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive.

I also have Book Value per Share estimate for 2024 of $38.20. This value implies a P/B Ratio is 2.77 with a stock price of $105.84 and Book Value of $40,966M. This ratio is 88% above the 10 year median ratio of 1.47. This stock price testing suggests that the stock price is relatively expensive.

I get a 10-year median Price/Cash Flow per Share Ratio of 5.90. The current P/CF Ratio is 7.67 based on a stock price of $105.84, Cash Flow per Shares estimate for 2024 of $13.80 and Cash Flow of $14,799M. The current ratio is 30% above the 10 year median ratios. This stock price testing suggests that the stock price is relatively expensive.

I get an historical median dividend yield of 1.22%. The current dividend yield is 3.97% based on dividends of $4.20 and a stock price of $105.84. The current dividend yield is 225% above the historical median dividend yield. This stock price testing suggests that the stock price is relatively cheap.

I get a 10 year median dividend yield of 3.59%. The current dividend yield is 3.97% based on dividends of $4.20 and a stock price of $105.84. The current dividend yield is 10% above the historical median dividend yield. This stock price testing suggests that the stock price is relatively reasonable and below the median.

The 10-year median Price/Sales (Revenue) Ratio is 2.10. The current P/S Ratio is 3.13 based on a stock price of $105.84, Revenue estimate for 2024 of $34,971, and Revenue per Share of $33.76. The current P/S Ratio is 49% above the 10 year median ratios. This stock price testing suggests that the stock price is relatively expensive.

Results of stock price testing is that the stock price is probably on the expensive side, but could still be reasonable. The 10 year median dividend yield test says that the stock price is reasonable, but the P/S Ratio test does not confirm this. All the other rest, but the dividend yield tests are pointing to the stock price as being expensive.

When I look at analysts’ recommendations, I find Strong Buy (7), Buy (5), and Hold (10). The consensus would be a Buy. The 12 month stock price consensus is $110.20 with a high of $126.00 and low of $91.00. The consensus stock price of $110.20 implies a total return of 8.09%, with 4.12% from capital gains and 3.97% from dividends.

There are a lot of buy recommendations on Stock Chase for this stock for 2024 and there is one hold. Stock Chase gives this stock 5 stars out of 5. Aditya Raghunath on Motley Fool says buy for passive income. Robin Brown on Motley Fool thinks this is the best of the energy stocks. The company put out a press release on Newsfile about their 2023 year end results.

Simply Wall Street via Yahoo Finance reviews this stock and two others. Simply Wall Street has one warnings of Significant insider selling over the past 3 month. Unfortunately, statistics do not differentiate between no taking up options and selling. Simply Wall Street gives this stock 4 stars out of 5.

Canadian Natural Resources Ltd is an independent crude oil and natural gas exploration, development, and production company. The Company's exploration and production operations are focused in North America, largely in Western Canada; the United Kingdom (UK) portion of the North Sea, and Cote d'Ivoire and South Africa in Offshore Africa. It derives a majority of its revenue from North America. Its web site is here Canadian Natural Resources.

The last stock I wrote about was about was Pembina Pipelines Corp (TSX-PPL, NYSE-PBA) ... learn more. The next stock I will write about will be Barclays PLC ADR (LSE-BARC, NYSE-BCS) ... learn more on Friday, April 26, 2024 around 5 pm. Tomorrow on my other blog I will write about Best Dividend Stocks learn more on Thursday, April 25, 2024 around 5 pm.

This blog is meant for educational purposes only and is not to provide investment advice. I am not a licensed professional investment advisor. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.