They state they do not understand why management included life and annuity write offs with earnings. Earnings were .20 cents and the way they reported earnings, this is hard to see.
They say mi profitable and ltc profitable. Decision to halt annunities and life products makes life neutral non profit going forward.
Continue to say mi Canada and mi Australia profitable even with low commodity prices.
This looks like a super good earnings report!
Insider monkey did not do a good job of explaining why anyone should buy. Down 34%, selling green windmill assets, and Debt upgrade minor.
ATP'S buying timing could not be better timed. They could refinance more debt with interest rates falling.
ATP pays dividend in Canadian dollar. I believe debt is paid with Canadian dollars. Revenue is made in US dollars. Today 1 Canadian dollar is worth .69 US cents. Our debt is getting much cheaper as the dollar strengthens.
Sentiment: Strong Buy
I don't know what this means when a CEO who has total inside knowledge buys and loses so much money? Is he smart enough to lead this company?
Share price does not reflect real company value. Tax loss selling drove share price down. Management buying and saying value is significantly greater than share price. Debt reduced, operating costs reduced, PPA extensions happening, remaining debt negotiated for lower interest rate, company buying shares.A lot of positives!
Preferred and bond holders like the dividend cut it makes their shares less risky. Cutting dividend drives away retail investors. This is not a growth stock! Management and board have played favorites by paying off debt reducing bond risk and then cutting dividend reducing common shareholder returns. By killing share price futher, ATP could enter under $1 territory where Nasdaq could delist this stock. Share price goes even lower.
What they are doing now buying shares and communicating value driving up share price will give them a future revenue source to use tomake future deals.
What's driving share price up now is improvements in earnings, balance sheet, management purchases and value statements and ATP potentially buying 22,000 shares per day. Mr. Moore is doing a lot of things right! Too bad he put a cloud over the dividend! Tax loss selling near done.
Not sure where you get your ideas from. Institutions with deep pockets manipulate share price driving it down much faster. Retail will hold if stock pays dividend, has decent management and a future. Why would anyone hold this stock as a growth stock with no dividend? Better to buy a technology stock!
I disagree with the dividend cut. This stock needs all types of investors. Institutions dictate if they get a significant number of shares. Look at Mangrove! They got their board seat. If they got there 3 cent special dividend, we would be in BK with bond holders geting remaining assets. A small dividend keeps us current with inflation as management gets their act together. Some retail holders reinvest dividend, get benefit of compounding! This company can not afford to lose any shareholders!
I agree with a lot of the comments being made. A lot of improvement has been made. I did not like the fan fare made when ATP executives made such a big published announcement about share purchases. Looks like they were being tools for a pump and dump!
I believe there has been a lot of selling to prevent either more loss or tax loss selling. Institutional ownership has been increasing. Only issue I have is every time this stock looks promising, the CEO and board do something stupid to negatively affect share price. I think elimination of dividend is not needed or warranted. This stock needs investors. It does not need to turn off some holders. I lot of dividend is reinvested in additional shares. I used to have them automatically reinvested but soon realized I could buy at a better price if I controlled the purchase.
Price was over $3.30 and hit $1.57. Double $1.57 and you get $3.14. Need 100% share price improvement to get near July share price! How difficult is that math wiz?