I loosely follow it. It's cheap, but management isn't as committed to shareholder value, and the canadian assets deserve a lower multiple than us asses.
I loosely follow it. It's cheap, but management isn't as committed to shareholder value, and the canadian assets deserve a lower multiple than us asses.
Thank you for the reply. You are probably right about management/owner family. Why do you think the CA assets deserve a lower multiple? EBITDA margins around 48% (higher in mature CA markets) look quite good and about half the revenue is US based. Although capex/rev at 20% could be improved.
IтАЩve been looking at Cogeco inc and comm for sometimes and especially inc has consistent and predictable fcf and rather cheap/attractive p/fcf. I would like to think the family actually cares about shareholder value as they are major shareholders, own like 60% and were approached by Rogers and Altice for their shares amd Cogeco assets. They also predicted 2-5 consistent revenue growth with costs decreasing. We can easily take a peek at their assets and a little read would show that they are prized jewels desired by big dogs and have a much higher value than the mkt cap altogether hence a rather easy choice especially when the price keeps tumbling offering better m.o.s. Lemme know how you feelтАж
I loosely follow it. It's cheap, but management isn't as committed to shareholder value, and the canadian assets deserve a lower multiple than us asses.
Thank you for the reply. You are probably right about management/owner family. Why do you think the CA assets deserve a lower multiple? EBITDA margins around 48% (higher in mature CA markets) look quite good and about half the revenue is US based. Although capex/rev at 20% could be improved.
Got interested in Cogeco reading this blog post: https://www.biremecapital.com/blog/cogeco-undervalued-canadian-cable-co
IтАЩve been looking at Cogeco inc and comm for sometimes and especially inc has consistent and predictable fcf and rather cheap/attractive p/fcf. I would like to think the family actually cares about shareholder value as they are major shareholders, own like 60% and were approached by Rogers and Altice for their shares amd Cogeco assets. They also predicted 2-5 consistent revenue growth with costs decreasing. We can easily take a peek at their assets and a little read would show that they are prized jewels desired by big dogs and have a much higher value than the mkt cap altogether hence a rather easy choice especially when the price keeps tumbling offering better m.o.s. Lemme know how you feelтАж