22:41:25 EDT Fri 19 Apr 2024
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Inv Reporter says buy New Flyer Industries

2014-02-07 17:49 ET - In the News

The Investment Reporter, in its Jan. 31, 2014, issue, says buy New Flyer Industries Inc., recently $11.02. The Reporter said buy on July 27, 2012, at $6.50, and on April 26, 2013, at $9.95. A $1,000 investment for each of the two buys is now worth $3,779. In the 39 weeks ended Sept. 29, 2013, the bus manufacturer earned $13-million or 26 cents a share, unchanged from earnings of $12.8-million or 26 cents a share last year. The Reporter says New Flyer's long-term outlook is improving. With about nine times the population of Canada, the U.S. is New Flyer's main market. According to the Rockefeller Institute, U.S. state tax collections increased in the third quarter of 2013 for the 15th consecutive quarter. Better state finances should lead to higher orders. New acquisition NABI Parts should also cut the company's costs and expand its presence in the profitable aftermarket industry. New Flyer also benefits from increasing concern about pollution, since 72 per cent of its backlog is for electric and natural gas buses. In all of 2013, New Flyer expects to earn about 95 cents a share, up from 85 cents a share last year. It remains a buy for high dividends while you wait for long-term gains.

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