|Bid||24.75 x 0|
|Ask||24.77 x 0|
|Day's Range||24.71 - 25.27|
|52 Week Range||12.48 - 25.45|
|Beta (3Y Monthly)||1.74|
|PE Ratio (TTM)||13.57|
|Earnings Date||Nov 5, 2019 - Nov 11, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||26.50|
Home Capital Group Inc. today reported financial results for the three and six months ended June 30, 2019. This press release should be read in conjunction with the Company’s 2019 Second 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.
(Bloomberg) -- Equitable Group Inc. and Home Capital Group Inc. are reaping a windfall from Canada’s tighter mortgage regulations.Shares of the alternative lenders are surging as homebuyers seek financing outside the big banks in the wake of new mortgage rules imposed last year and as home prices in big cities such as Toronto remain lofty.Equitable was up 16% to a record C$93.69 at 1:08 p.m. in Toronto after reporting earnings Tuesday that blew past analysts expectations. Home Capital, which was bailed out by Warren Buffett’s Berkshire Hathaway Inc. in 2017, climbed 7.5% to its highest in more than two years.The rules are making it difficult for some homebuyers to qualify at the big banks but they’re still good credits, said Equitable Chief Executive Officer Andrew Moor. The company controls about 35% of the alternative mortgage market in Canada and should see more business amid forecasts for lower interest rates and high levels of immigration, he said.“We certainly have seen our client portfolio quality improve over the last couple of years,” Moor said in an interview. “The general risk of a house-price correction gets reduced as these rules now get embedded in the system. It’s a structural permanent shift and we will continue to see higher credit quality than we’ve ever had.”Earnings SurpriseEquitable reported record earnings and a surge in principal retail loans outstanding of C$16.9 billion ($12.8 billion), up 23% from a year ago. Commercial loans outstanding rose 19% to C$7.9 billion. The company said it will increase its dividend at a rate of 20% to 25% per year over the next five years, up from a previous target of 10% per year.Home Capital is due to report on Aug. 7, with profit seen up about 7%, according to analysts surveyed by Bloomberg.Equitable also operates Equitable Bank, which offers high-interest savings accounts and guaranteed investment certificates at higher rates than the big banks.“People understand that Equitable challenges banks and we have really embraced the digital future as a bank online platform,” Moor said.While all the analysts covering the company have increased their price targets, the stock trades at only 7.6 times estimated forward earnings per share, versus 10 times for comparable companies, according to data compiled by Bloomberg.“We certainly see people interested in buying” the company, Moor said. “Our thinking is that we can keep growing, we are the ninth-largest bank in Canada, we’re growing faster than any of the other ones.”To contact the reporter on this story: Paula Sambo in Toronto at firstname.lastname@example.orgTo contact the editors responsible for this story: Nikolaj Gammeltoft at email@example.com, Jacqueline Thorpe, David ScanlanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
While it may not be enough for some shareholders, we think it is good to see the Home Capital Group Inc. (TSE:HCG...
Home Capital Group Inc. will report financial results for the three months and six months ending June 30, 2019 on Wednesday, August 7, 2019 before markets open.
Home Capital Group Inc. and Lendified Holdings Inc. are pleased to announce the closing of a $3,000,000 strategic investment in Lendified by Home Capital.
Home Capital Group Inc. reported that its subsidiary, Home Trust Company, was awarded the “Lender of the Year Award: Bank” at the Mortgage Awards of Excellence ceremony held at the beginning of May this year.
Home Capital Group Inc. announced today the voting results from its Annual Meeting of Shareholders held Wednesday, May 15, 2019 in Toronto, Ontario.
Home Capital Group Inc. reported that the Public Accountability Statement for Home Trust Company , a subsidiary of Home Capital, is now available online at www.hometrust.ca/about/public-accountability/.
Home Capital Group Inc. invites shareholders to attend its Annual Meeting of Shareholders on Wednesday, May 15, 2019 at 10:00 a.m. ET in Toronto, Ontario.
Home Capital Group Inc. today reported financial results for the three months ended March 31, 2019. This press release should be read in conjunction with the Company’s 2019 First 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.
Glass Lewis Highlights Disingenuous Attack on Waterton Nominee Daniel Muñiz Quintanilla By John Jannarone Leading proxy advisors Glass Lewis and ISS have issued support for multiple directors nominated by Waterton Global Resource Management in its proxy fight with mining company Hudbay Minerals, a strong sign the activist may win seats at the upcoming shareholder […]
Canadian Mining Company Deleted Its Accusation that Activist Waterton "Seeded" Article with Bloomberg By John Jannarone When companies face criticism from an activist, it’s common for them to resort to aggressive tactics. But spreading potential mistruths is a dangerous game – with possible ramifications for a company’s board of directors. Consider the recent action taken […]
Home Capital Group Inc. (TSE:HCG), operating in the financial services industry based in Canada, received a lot of attention from a substantial price movement on the TSX over t...
Home Capital Group Inc. will report financial results for the three months ended March 31, 2019 on Wednesday, May 8, 2019 before markets open.
Anyone researching Home Capital Group Inc. (TSE:HCG) might want to consider the historical volatility of the share price. Modern finance theory considers volatility to be a measure of risk, andRead More...
Home Capital Group Inc. today reported financial results for the three months and twelve months ended December 31, 2018. This press release should be read in conjunction with the Company’s 2018 Annual and Fourth Quarter Consolidated Financial 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 ...
Waterton Global Resource Management Wants to Replace 80% of Hudbay Directors By John Jannarone Hudbay Minerals has suffered a rough stock performance in recent years. Could some new resources help shore the mining company up? The Toronto-based firm has expanded from a key mining asset in Manitoba several years ago to a sprawling global […]
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.