|Bid||16.25 x 0|
|Ask||16.90 x 0|
|Day's Range||16.59 - 16.86|
|52 Week Range||12.48 - 18.63|
|Beta (3Y Monthly)||0.90|
|PE Ratio (TTM)||10.64|
|Earnings Date||Feb 22, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||19.13|
Home Capital Group Inc. will report financial results for the three months and twelve months ended December 31, 2018 on Friday, February 22, 2019, before markets open.
Home Capital Group Inc. (TSX:HCG) and Equitable Group Inc. (TSX:EQB) enter 2019 on the heels of impressive earnings in the latter half of 2018.
A major real estate decline would be a disaster for Home Capital Group Inc. (TSX:HCG) and Equitable Group Inc. (TSX:EQB). Could it happen in 2019?
Home Capital Group Inc. (HCG.TO) (“Home Capital”) announced today that the Toronto Stock Exchange (“TSX”) has approved its previously announced Normal Course Issuer Bid, as approved by Home Capital’s board of directors, pursuant to which Home Capital may purchase for cancellation up to 4,753,517 of its common shares (the “Common Shares”), representing approximately 10% of its public float as of December 21, 2018, calculated in accordance with TSX rules. The average daily trading volume of Home Capital’s Common Shares from June 1, 2018 to November 30, 2018 was 252,555 Common Shares.
Further to the announcement by Home Capital Group Inc. (“Home Capital” or the “Company”) (HCG.TO) on December 19, 2018, the Company announced today that it has taken up 18,181,818 common shares (the “Shares”) at a purchase price of C$16.50 per Share (the “Purchase Price”) under the Company’s Substantial Issuer Bid (the “Offer”) to repurchase for cancellation up to C$300,000,000 of its Shares. After giving effect to the repurchase, the number of issued and outstanding Shares is 62,064,531 (undiluted). None of the directors or management of the Company tendered any of their Shares pursuant to the Offer.
Here is why Home Capital Group Inc. (TSX:HCG) stock is still worth holding on to after Warren Buffett cut his stake.
Billionaire investor Warren Buffett is cutting ties with a Canadian mortgage business after a nifty trade that provided the company with a potential lifeline. Buffett's Berkshire Hathaway Inc (BRKa.N) is "substantially" exiting its stake in Home Capital Group Inc (Toronto:HCG.TO - News) after selling shares back to the company, the Canadian mortgage lender and Buffett said on Wednesday. Shares of Home Capital tumbled as much as 19 percent in early trading before paring losses to trade down 13.2 percent to C$14.30 at midday.
Warren Buffett's Berkshire Hathaway Inc. is reducing its stake in Home Capital Group Inc. to less than 10 per cent, the alternative mortgage lender said Wednesday. Toronto-based Home Capital said Berkshire Hathaway's holdings will fall following the completion of a substantial issuer bid on Friday. Buffett's investment firm acquired a nearly 20 per cent stake in Home Capital in 2017 when it stepped in to provide a $2-billion credit facility and make an equity investment in the alternative mortgage lender.
Home Capital on Wednesday said Berkshire’s stake in the company will fall below 10% upon completion of the company’s 300 million Canadian dollar ($223 million) buyback offer, which will reduce its shares outstanding by about 22.7%. Berkshire in June 2017 agreed to acquire a 38.39% stake in Home Capital as part of a rescue package that included a credit line of C$2 billion, which the lender has since repaid. thanked Berkshire in a statement Wednesday for backing the company last year during a “critical time.” The Toronto mortgage lender was crippled by a sudden exodus of deposits that forced it to borrow high-cost emergency loans.
Home Capital Group Inc. (“Home Capital” or the “Company”) (HCG.TO) announced today that, following the completion of its Substantial Issuer Bid on Friday December 21st, 2018, the percentage ownership of Home Capital by Columbia Insurance Company, a wholly-owned subsidiary of Berkshire Hathaway Inc. (“Berkshire”) is projected to be less than 10%. Warren E. Buffett, Berkshire Chairman and Chief Executive Officer, stated: “We are delighted to see Home Capital back on its feet with healthy liquidity and a solid capital position. In June of 2017, when some were questioning Home’s staying power, Berkshire agreed to lend the Company $2 billion.
Home Capital Group Inc. (“Home Capital” or the “Company”) (HCG.TO) announced today the preliminary results of its Substantial Issuer Bid (the “Offer”) to repurchase for cancellation up to C$300,000,000 of its common shares (the “Shares”). In accordance with the terms and conditions of the Offer and based on a preliminary count by Computershare Investor Services Inc. (the “Depositary”), Home Capital expects to take up and purchase for cancellation 18,181,818 Shares at a purchase price of C$16.50 per Share (the “Purchase Price”). “We are pleased that the strength of our balance sheet and our business put us in a position to create value by returning this capital to our shareholders,” remarked Yousry Bissada, President and Chief Executive Officer of Home Capital.
This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). We'll show how you can use Home Capital Group Inc's (TSE:HCG) Read More...
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Home Capital Group Inc. (HCG.TO) (“Home Capital” or “the Company”) today announced that it has formally commenced its previously announced substantial issuer bid (the “Offer”), pursuant to which Home Capital will offer to repurchase for cancellation up to C$300,000,000 of its common shares (the “Shares”) from shareholders for cash. The Offer is being made by way of a “modified Dutch auction”, which allows shareholders to select the price, within the specified range, at which each shareholder is willing to sell all or a portion of the Shares that such shareholder owns. The Offer will be for up to a maximum of 18,181,818 Shares or approximately 22.66% of Home Capital’s 80,246,349 total issued and outstanding Shares based on full participation and a purchase price equal to the minimum purchase price per Share.
The alternative mortgage lender's checkered past has some investors unimpressed by their monumental growth last quarter.
Home Capital Group Inc. today reported financial results for the three and nine months ended September 30, 2018. This press release should be read in conjunction with the Company’s 2018 Third Quarter Report including Financial Statements and Management’s Discussion and Analysis which are available on Home Capital’s website at www.homecapital.com and on SEDAR at www.sedar.com.