|Bid||63.72 x 0|
|Ask||63.78 x 0|
|Day's Range||63.17 - 64.82|
|52 Week Range||37.00 - 89.92|
|Beta (5Y Monthly)||0.29|
|PE Ratio (TTM)||1.50|
|Forward Dividend & Yield||0.40 (0.63%)|
|Ex-Dividend Date||Jul. 09, 2020|
|1y Target Est||N/A|
Here's why Onex stock is a good buy for contrarian investors right now. The post This TSX P/E Giant Wants to Pick Up Distressed Assets Amid the Pandemic appeared first on The Motley Fool Canada.
TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange:Toronto Stock Exchange (14,638.90 , up 129.24 points.)Aurora Cannabis Inc. (TSX:ACB). Health care. Up $6.15, or 66.85 per cent, to $15.35 on 18 million shares.Kinross Gold Corp. (TSX:K). Materials. Up 37 cents, or 3.66 per cent, to $10.49 on 7.8 million shares.B2Gold Corp. (TSX:BTO). Materials. Up 26 cents, or 3.53 per cent, to $7.62 on 7.3 million shares.Aphria Inc. (TSX:APHA). Health care. Up 49 cents, or 11.64 per cent, to $4.70 on 7.1 million shares.Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Up 85 cents, or 3.67 per cent, to $23.99 on 6.8 million shares.Cenovus Energy Inc. (TSX:CVE). Energy. Up 27 cents, or 5.47 per cent, to $5.21 on 6.3 million shares.Companies in the news:Aurora Cannabis Inc. — Canadians have slowed their buying frenzy when purchasing pot amid the pandemic, said cannabis company executives. Aurora Cannabis Inc. noticed the COVID-19 boom in cannabis sales dissipating, said Michael Singer, interim chief executive. After the industry was deemed an essential service in several provinces, he said, things went back down to pre-pandemic levels in April. In Aurora's third quarter, which ended on March 31 and encompassed the first weeks many Canadians spent working from home as well as physical distancing, the Edmonton-based company sold 12,729 kilograms of cannabis, amounting to 39 per cent more than the quarter before.Chorus Aviation Inc. (TSX:CHR). Down 18 cents, or seven per cent, to $2.39. Chorus Aviation Inc. says it's focused on cost cutting as it reports a first-quarter loss as the COVID-19 outbreak significantly disrupts the airline industry. The regional aviation company says it had a net loss of $17.3 million for the quarter ending March 31 compared with earnings of $33.45 million last year as net income decreased $50.7 million due to a change in net unrealized foreign exchange losses. Chorus says adjusted net income was $25 million, up from $19 million last year, as it started off the year in a good financial shape before the pandemic hit.Onex Corp. (TSX:ONEX). Up 71 cents, or 1.2 per cent, to $60.90. Onex Corp. says it swung to a significant loss in the first quarter as a result of market volatility and economic disruption from the COVID-19 outbreak. The investment management firm says it had a net loss of US$1.1 billion for the quarter ending March 31, compared with net earnings of $195 million last year. The Toronto-based firm says $985 million of the losses were from its investing segment as the pandemic pushed down markets in March and created a broad net decline in the fair value of its underlying portfolio investments. Onex says the decrease in fair value of its investments ranged from declines of between one and 77 per cent.Air Canada (TSX:AC). Down 60 cents, or 3.9 per cent, to $14.62. The union representing Air Canada flight attendants says the airline is set to ask employees to work less — or not at all — as concerns over job security buffet the airline industry. An internal bulletin to members from the Canadian Union of Public Employees says Air Canada will ask workers to slash their schedules, go on leave for up to two years or resign with travel privileges. The bulletin, sent out Thursday night, says CUPE is in discussions with Air Canada over continuing the federal wage subsidy, which the airline has not committed to maintain past June 6.This report by The Canadian Press was first published May 15, 2020.The Canadian Press
TORONTO — Onex Corp. swung to a more than $1 billion loss in the first quarter as a result of market volatility and economic disruption from the COVID-19 outbreak.The investment management firm, which reports in U.S. dollars, said it suffered a net loss of $1.1 billion in the quarter ended March 31 compared with net earnings of $195 million a year earlier.Some $985 million of the losses stemmed from its investing segment as the pandemic pushed down markets in March and created a broad net decline in the value of its underlying portfolio investments, Onex said.The decrease in fair value of its investments ranged from declines of between one per cent and 77 per cent, including drop-offs in Parkdean Resorts and WestJet Airlines, which it took over last year."As I look back over our 36 years in business, I realize that Onex has seen wars, recessions and, yes, even pandemics," CEO Gerry Schwartz said on a conference call with analysts Friday. "COVID-19 may be the worst. But I have enormous confidence in our team to navigate through the challenges ahead."Nonetheless, the timing could hardly have been worse for Onex's acquisition of WestJet, completed in December — three months before the global travel industry collapsed as borders shut down and confinement measures took effect.The Calgary-based airline has cancelled tens of thousands of trips — including all U.S. and international routes — through July 4 and grounded scores of planes, pushing down capacity to a fraction of its pre-pandemic level.As of March 31, Onex had about $6 billion in shareholder capital under management.On a per-share basis, Onex reported a first-quarter loss of $10.34 compared with earnings of $1.91 in the same quarter of 2019.The firm maintained its dividend of 10 cents per subordinate voting share.This report by The Canadian Press was first published May 15, 2020.Companies in this story: (TSX:ONEX)The Canadian PressNote to readers: This is a corrected story. A previous version had the incorrect per share earnings for the first quarter of 2019.
If you want to capitalize on the market crash, there are few better options than private equity player ONEX Corporation (TSX:ONEX).The post Want to Buy the Market Crash? This Stock Is an Obvious Choice appeared first on The Motley Fool Canada.
Overlooked airline stocks such as Chorus Aviation (TSX:CHR.B) could be excellent contrarian bets in 2020. The post Forget Air Canada: 2 Other Airline Stocks Could Make You Rich! appeared first on The Motley Fool Canada.
Low-P/E-ratio stocks tend to be excellent long-term investments. Onex Corporation’s (TSX:ONEX) P/E ratio is less than one!The post Incredible: This Stock Is Trading for Less Than Annual Earnings appeared first on The Motley Fool Canada.
ONEX Corporation (TSX:ONEX) stock has an impressive history. A temporary pullback looks like a buying opportunity.The post This Canadian Dividend Stock Is on Sale for the First Time in 12 Years appeared first on The Motley Fool Canada.
WestJet Airlines Ltd. (TSX:WJA) stock has traded sideways for weeks, and if you don't know why, make sure to catch up on the latest news today.
Air Canada has filed a challenge with the federal government over Onex Corp.’s proposed takeover of WestJet Airlines Ltd., arguing that the deal could see Canada’s second largest airline fall under foreign control.
ONEX Corporation (TSX:ONEX) has already completed two major acquisitions of publicly traded Canadian companies over the past eight months. Find out why investors need to be paying careful attention to this leading private equity firm.
WestJet Airlines Ltd. shareholders have approved the $5 billion takeover bid by Onex, paving the way for the private equity firm to take the airline private.