I have been reading news on SNC lately and none of it is good. The Investment Reporter has removed this stock from their Key Stock List and Issued a sell on the stock. There is a report on this here. The largest shareholder and a shareholder for lots of Quebec companies of Caisse de Depot et Placement du Quebec seems to be losing patience with this stock also. There is a report on this in the Financial Post. Victor Ferreira on Financial Post says analysts slash target prices and stock price fell 10%. SNC Lavalin is back in the news yesterday according to Mark Gollom on CBC Canada about the ethics report by Mario Dion.
For a replacement stock I looked at both Chartwell Retirement Residences (TSX- CSH.UN, OTC- CWSRF) and Sienna Senior Living Inc (TSX-SIA, OTC- LWSCF) and Brookfield Infrastructure Partners (TSX-BIP.UN, NYSE-BIP) because they are good dividend payers and this stock is in my RSP account. I will go with Chartwell Retirement Residences (TSX- CSH.UN, OTC- CWSRF), but there is not a lot of money involved here.
For my Trading account in which I have just 100 shares, I will sell these and put the money into Evertz Technologies (TSX-ET, OTC-EVTZF).
Sienna Senior Living Inc (TSX-SIA, OTC- LWSCF) seems to me to relatively expensive. Brookfield Infrastructure Partners (TSX-BIP.UN, NYSE-BIP) has a very complicated structure. Some of the accounting does not add up. I looked at what TD WebBroker has on their site. It is different from the financial statements, but they make sense. Actually, I am not really that pleased with any of these stocks.
On my other blog I wrote yesterday about Onex Corp (TSX-ONEX, OTC-ONEXF) ... learn more. Next, I will write about Evertz Technologies (TSX-ET, OTC-EVTZF) ... learn more on Friday, August 16, 2019 around 5 pm.
This blog is meant for educational purposes only and is not to provide investment advice. 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.
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