|Bid||1.5800 x 0|
|Ask||1.5900 x 0|
|Day's Range||1.5800 - 1.7200|
|52 Week Range||1.5300 - 4.7850|
|Beta (3Y Monthly)||1.51|
|PE Ratio (TTM)||17.56|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||2.42|
TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange:Toronto Stock Exchange (16,037.58, down 215.88 points).Encana Corp. (TSX:ECA). Energy. Down 17 cents, or three per cent, to $5.50 on 13.4 million shares.Bombardier Inc. (TSX:BBD.B). Industrials. Down 14 cent, or 8.14 per cent, to $1.58 on 12.9 million shares.Belo Sun Mining Corp. (TSX:BSX). Materials. Down five cents, or 11.49 per cent, to 38.5 cents on 11.3 million shares.New Gold Inc. (TSX:NGD). Materials. Up four cents, or 2.56 per cent, to $1.60 on 8.4 million shares.B2Gold Corp. (TSX:BTO). Materials. Up 13 cents, or 2.87 per cent, to $4.66 on 7.7 million shares.OceanaGold Corp. (TSX:OGC). Materials. Up 17 cents, or 5.74 per cent, to $3.13 on 7.7 million shares. Companies in the news:Transat A.T. (TSX:TRZ). Down 42 cents or 2.5 per cent to $16.19. The fate of Air Canada's $720-million takeover bid for Transat A.T. Inc. rests with regulators after shareholders overwhelmingly approved the acquisition offer Friday. In a special meeting, shareholders of the Quebec-based tour operator voted 94.77 per cent in favour of accepting the $18-per-share transaction from the country's largest airline. The deal will narrow the field of airline competition, securing for Air Canada about 60 per cent of the Canadian transatlantic market and helping the company maintain a firm hold on Montreal air travel.TC Energy Corp. (TSX:TRP). Down 42 cents to $64.37. One of the last major hurdles for the Keystone XL crude oil pipeline was removed on Friday by the Nebraska Supreme Court which rejected an attempt to force the developer to reapply for state approval. The court upheld the decision of regulators who voted in November 2017 to greenlight a route through the state. The court's decision was a victory for the US$8-billion project, which has been mired in lawsuits and regulatory hearings since it was proposed in 2008. The Nebraska Public Service Commission voted 3-2 in favour of an "alternative route" for Keystone XL instead of TC Energy's preferred pathway for the pipeline.Cargojet Inc. (TSX:CJT). Up $11.66 or 12.86 per cent to $102.33. Shares in Cargojet Inc. shot to a record high Friday after the company announced a new deal with Amazon.com that could see the online retailer acquire a stake in the company that provides overnight air cargo services. Amazon already uses Cargojet's charter aircraft services to move packages from Amazon warehouses to distribution centres for final delivery, but the deal announced Friday is designed to encourage it to use the network even more. Under the agreement, Mississauga, Ont.-based Cargojet will issue warrants to Amazon for variable voting shares that will vest based on milestones of business that Amazon gives Cargojet. The Canadian Press
Mobility solution provider Bombardier Transportation and Dresden’s transport authority Dresdner Verkehrsbetriebe (DVB), have signed a contract to supply and maintain 30 BOMBARDIER FLEXITY trams, equipped with the Obstacle Detection and Assistance System (ODAS) for preventing collisions. The contract also includes the FlexCare maintenance management system for a 24-year period.
New contract reaffirms long-standing relationships with Abellio and with Eversholt Rail Derby Etches Park depot to maintain Bombardier Class 222s for East Midlands Railway.
The share price of Bombardier, Inc. (TSX:BBD.B) is falling again. Can the company pull off another amazing rally, or is this the beginning of the end?
BERLIN, Aug. 13, 2019 -- Bombardier Transportation has issued an update to the press release published on Monday August 5, 2019 regarding the contract to supply and operate two.
(Bloomberg) -- Indonesia’s anti-corruption agency detained Emirsyah Satar, the former head of PT Garuda Indonesia, as part of a long-running probe into suspected corruption involving the procurement of aircraft and engines.Satar is suspected of money laundering and will be held for 20 days, the agency said in a statement. It also detained an Indonesian businessman for the same suspected violation.Satar was given cash and other gifts by the man, who received commissions from manufacturers, the agency alleged. While acknowledging that he received money, Satar denies any money-laundering allegations as he thought the funds were merely a form of gratitude, his lawyer Luhut Pangaribuan said.“After the investigation started, he realized that as a state employee he should not have received anything, so he returned the money,” Pangaribuan said in a text message.The probe relates to Garuda’s procurement of Airbus SE A330 and A320 jets, ATR 72-600 turboprops, Bombardier Inc. CRJ 1000 regional aircraft and Rolls-Royce Holdings Plc engines when Satar led the state-owned airline, according to the anti-corruption agency. The organization is known in Indonesia as KPK, short for Komisi Pemberantasan Korupsi.Satar has been credited by analysts for helping to revive the carrier when he was CEO and president director from 2005 through 2014.Indonesia Names Ex-Garuda CEO as Suspect in Corruption Case (2)KPK said it has confiscated a house in Jakarta, while authorities in Singapore seized an apartment and blocked various bank accounts of Satar in the city state. The Indonesian agency also suspects the involvement of several foreign manufacturers in the case and said it is open to cooperation with various authorities abroad.KPK spokesman Febri Diansyah didn’t reply to text messages asking if Airbus, Rolls-Royce, Bombardier and ATR are being investigated. Calls to his mobile phone weren’t answered.A spokesman for Airbus said the company is unable to comment on pending investigations. A Rolls-Royce spokesman said: “We note the announcement from KPK about legal proceedings, in which we are not involved, against a number of individuals and will not be commenting further.”A representative for ATR, short for Avions de Transport Régional, had no immediate comment, while spokespeople for Bombardier couldn’t be reached.(Adds responses from manufacturers starting in the ninth paragraph.)\--With assistance from Christopher Jasper and Benjamin Katz.To contact the reporters on this story: Harry Suhartono in Jakarta at firstname.lastname@example.org;Tassia Sipahutar in Jakarta at email@example.comTo contact the editors responsible for this story: Young-Sam Cho at firstname.lastname@example.org, Ville Heiskanen, Angus WhitleyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Bombardier, Inc. (TSX:BBD.B) stock has performed poorly this summer, but value investors should take notice in August.
The S&P/TSX Composite Index off 1.57% last week, while the performance of the S&P 500 was even worse, down 2.97%. Here are three of the worst TSX stocks, including Bombardier, Inc. (TSX:BBD.B), from last week.
EGX: ORAS) and Arab Contractors have signed an agreement today with National Authority for Tunnels in Cairo to design and build two new monorail lines in Egypt. On completion of the construction phase, the consortium will be responsible for the Operation and Maintenance (O&M) of both lines for 30 years.
MONTREAL — Bombardier Inc. shares plunged Thursday after it lowered its 2019 profit forecast and announced hundreds of millions in spending to push through a bottleneck at its train-making unit following earnings that came in below analysts' expectations.The news triggered a nearly 16 per cent drop in the transportation giant's stock price to close at $1.91 on the Toronto Stock Exchange.The Montreal-based company plans to spend an additional US$250 million to US$300 million this year to ramp up train production, raising investment in manufacturing and software engineering at Bombardier Transportation, its biggest division.“We are going through a number of teething issues," chief executive Alain Bellemare said on a conference call with investors. "We are going through a bottleneck."The trains have been a little bit of a setback," he said, noting that holdups are "mostly on the software side."Bombardier continues to struggle with a handful of contracts in Germany and the United Kingdom, part of the US$33.6 billion backlog at its rail unit, which saw adjusted core earnings fall 37 per cent year over year to US$146 million last quarter.Analysts continued to question on-time project delivery. "This nine-inning transformation now looks like it's in extra innings," said Credit Suisse analyst Robert Spingarn during the call.The hitches in train production gave analysts pause as the company renews its focus on its rail and business jets, having cemented its departure from commercial aviation after three decades in the sector with a US$550-million deal to sell its floundering regional jet program to Mitsubishi Heavy Industries Ltd. in June."We believe that Bombardier’s cash flow will improve into 2020 as it makes progress on delivering on the challenging rail contracts and as Global 7500 [business jet] deliveries ramp up," said National Bank of Canada analyst Cameron Doerksen, despite "the higher-risk programs currently being delivered."The company boosted its backlog of business jets by about $400 million last quarter, aiming to deliver between 15 and 20 of the new US$73-million jetliners this year.Nonetheless, challenges in the train segment prompted the company to bump down its core adjusted earnings guidance for 2019 to between US$1.2 billion and US$1.3 billion, from US$1.5 billion and US$1.65 billion.The announcement came as the train-and-plane maker reported a US$36-million net loss and a US$47-million adjusted loss for the quarter ended June 30.The loss, reported in U.S. currency, amounted to four cents per diluted share before adjustments and compared with a year-earlier profit of $70 million or two cents per share.Bombardier's adjusted loss was also equal to four cents per share. Revenue reached $4.31 billion, up one per cent compared with $4.26 billion a year ago.Analysts had predicted an adjusted loss of two cents per share and revenue of $4.09 billion, according to financial markets data firm Refinitiv.Last month, Bombardier announced it would lay off half of the 1,100 workers at its Thunder Bay, Ont., manufacturing plant.Two of the plant's major contracts — for the Toronto Transit Commission streetcars and Metrolinx GO Transit rail cars — are slated to wind down by the end of the year. Companies in this story: (TSX:BBD.B)Christopher Reynolds, The Canadian Press
Hunting for a bargain? This group of beaten-down stocks, including Telus Corporation (TSX:T)(NYSE:TU), might provide the value you're looking for.
Bombardier Inc.’s stock fell as much as 22 per cent on Thursday as the company reported a quarterly loss and announced it will invest hundreds of millions into its struggling transportation division.
(Bloomberg) -- Bombardier Inc. plunged to an eight month-low after new costs in its troubled rail-equipment division forced the company to cut its 2019 financial forecasts.Additional outlays of as much as $300 million are needed to complete late-stage train projects and meet delivery schedules, Bombardier said in an earnings release Thursday. The company predicted free cash flow usage of $500 million, burning at least twice as much as its previous forecast.Bombardier is struggling to right its rail business, which already prompted the company to reduce its 2019 outlook in April. The latest woes are marring Chief Executive Officer Alain Bellemare’s effort to turn matters around by exiting commercial-aircraft manufacturing to focus on making private jets and trains.“This transformation now appears to be in extra innings,” Credit Suisse analyst Robert Spingarn said on a conference call.The shares dropped 12% to C$1.99 at 11:44 a.m. in Toronto after tumbling to C$1.78, the lowest intraday since November. Bombardier advanced 12% this year through Wednesday, trailing the 22% gain of a Standard & Poor’s index of Canadian industrial stocks.Bombardier’s $2 billion of 7.875% bonds due 2027 traded as low as 97.5 cents, the lowest since June 4, according to Trace prices.More RiskThe company can’t rule out additional risk to its train-delivery timetable, Chief Financial Officer John Di Bert said on the call. Bombardier has made high-profile stumbles on transit projects in New York and Toronto and on a railroad contract in Switzerland.Analysts expressed frustration as executives side-stepped whether Bombardier will meet margin targets or generate positive free cash flow in the near term.“Why should anybody believe this is an 8% margin business sustainably?” asked Noah Poponak, an analyst at Goldman Sachs. “What’s to say there won’t be more contracts that are a problem three years from now?”Bellemare asserted that Bombardier’s fundamentals are solid. Di Bert said he was confident the company would generate sustainable earnings and cash flows but didn’t make a guarantee for 2020.Bombardier pared its 2019 revenue to between $16.5 billion to $17 billion from no less than $17 billion previously.The Montreal-based company said it would consolidate its three aerospace units into a single one called Bombardier Aviation, focused on making private jets.The maker of trains and planes recently sold its turboprop operation to De Havilland Aircraft of Canada Ltd., and agreed to sell its CRJ regional-jet business to Mitsubishi Heavy Industries Ltd. Last year, it handed control of its C Series jetliner program to Airbus SE, which renamed the aircraft the A220.(Updates with analyst’s comment in fourth paragraph. An earlier version of this story corrected the currency on the chart.)\--With assistance from Sandrine Rastello and Paula Sambo.To contact the reporters on this story: Jack Pitcher in New York at email@example.com;Esteban Duarte in Toronto at firstname.lastname@example.orgTo contact the editors responsible for this story: Brendan Case at email@example.com, Tony RobinsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The company also lowered its full-year forecast for earnings before interest and taxation (EBIT), another closely watched measure, in the rail division. Bombardier shares were down 18% at C$1.86, well below the broader Canadian share index, which was down 0.2%.
Consolidated revenues of $4.3B, representing 9% organic growth(1), driven mainly by higher aircraft deliveries and aftermarket growthAdjusted EBITDA(2) and adjusted EBIT(2) of.