Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on CLS HOLDINGS USA INC. We currently have 4 research reports from 1 professional analysts.
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CLS HOLDINGS USA INC
CLS HOLDINGS USA INC
Positive news on dividend and liquidity
08 Feb 17
CLS has announced that it intends to make future dividend distributions by way of a twice yearly dividend rather than the previous policy of using tender offer buy backs. The first will be in respect of the 2016 final dividend expected to be announced on 8 March with the prelims. We welcome this move as it will make CLS more comparable with other companies. In addition at the AGM in April a proposed 10 for 1 share split will be proposed to take place following the payment of the final dividend. We view this as another step forward as it should increase liquidity and hence broaden the shareholder base. We maintain our Buy recommendation and believe that the changes will be welcomed by investors.
Panmure Morning Note 24-01-2017
24 Jan 17
Last week CLS issued a trading update saying that it expected its financial results and EPRA NAV for the year ended 2016 to be “ahead of current market forecasts”. The reason given was a strong operating performance and an increase in values of its London and French properties post 1 July. We were at the top of the 3 analyst range with an EPRA NAV forecast of 2333p/share. Although other forecasts have now increased following the update we maintain our estimate ahead of the full year results on Wednesday 8th March. The shares are trading at an unwarranted 30% discount to our NAV forecast which we view as too greater discount and so re-emphasise our Buy recommendation and top of the range 2052p/share target price.
Panmure Morning Note 11-01-2017
11 Jan 17
CLS has announced the acquisition of a portfolio of five freehold properties in the UK from a private investor. The properties are generating rents of £2.5m p.a. from 10 tenants representing a net initial yield of 8%. It is paying £31.4m including costs financed from its existing funds. The portfolio gives CLS the opportunity to work with existing and potential new tenants as well as development potential. We view this as yet another excellent acquisition where own funds are being exchanged for an asset yielding c8%. We maintain our Buy recommendation and top of the range 2052p/share target price.
Panmure Morning Note 23-11-2016
23 Nov 16
CLS has issued a positive trading update for the period 1 July to 22 November. The announcement highlights the continued rebalancing of the portfolio with the disposal of non-core assets in France and London and the acquisition of higher yielding properties in Germany. Occupancy in London remains resilient and vacancy rates have fallen in Germany and France. The geographical spread and weakness of sterling continue to have a positive impact on profitability and NAV. We have increased our 2016/17F adjusted EPS forecasts to 117.0p (+27%) and 105.0p (+4%) respectively to reflect these positive trends. We increase our target price to 2052p/share from 2016p previously reflecting the increase in our 2016F adjusted NAV to 2332p/share from 2290p previously. In our view the shares are currently trading at an unjustified 32% discount to our adjusted NAV. Buy.
20 Feb 17
Hayward Tyler Group* (HAYT): Trading update and financial position (CORP) | Petra Diamonds (PDL): Interim results (BUY) | Gemfields* (GEM): Interim results (CORP) | Premaitha Health* (NIPT): Middle East momentum (CORP) | Sound Energy (SOU): Acquisition update and TE-8 well spud (HOLD) | Proactis* (PHD): Interim trading on track (CORP) | 7digital* (7DIG): Automotive contract win (CORP)
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
N+1 Singer - Morning Song 22-02-2017
22 Feb 17
CORETX (COR LN) Contract wins and new Lifestyle facility | Gooch & Housego (GHH LN) Solid Q1 trading plus earnings enhancing acquisition of StingRay Optics | NCC Group (NCC LN) Further issues in Assurance | PCI-PAL (PCIP LN) Strong H1 underpins positive outlook | UBM (UBM LN) Results | Verona Pharma (VRP LN) Phase IIa RPL554 add-on trial to tiotropium commenced
N+1 Singer - Carpetright - Recovery has just begun
17 Feb 17
With UK LFLs up 6.8% in Jan against tough comparatives, and Europe LFLs up 5.4% in Q3, the first clear evidence is now visible that the transformation strategy is gaining momentum. Given some uncertainties, market forecasts are yet to reflect this, but upgrades seem likely as further initiatives are rolled out. Despite a recent bounce from its all time low, the valuation is still very low on consensus assumptions, where risk now appears to be shifting to the upside. With scope for re-rating too, our 300p target price has the scope to grow to 500p over 18 months. We re-initiate with a Buy.
New Screen – Consistent Growth + “11 with legs”
17 Dec 15
To represent the theme of “Consistent Growth”, we introduce our second basket of small-cap stocks selected by a screening process. This will sit alongside our first (deep value) basket introduced and described in our note dated 26th May 2015 (Our first screen – 10 deep value stocks to consider). The screening criteria address both the extent AND the quality of growth in EPS and sales, which we consider add a worthwhile additional element to stock selection. The process results in a basket of 25 stocks, the performance of which we will track over time, allowing comparison of investment styles, but also highlighting interesting companies. We have taken a closer look at 11 stocks “11 with legs” (see list on the right) in this screen.