TSX:MRCReal Estate
Morguard (TSX:MRC) Stock Faces FFO Questions After Profit Jumps
Morguard came into this earnings print with the stock drifting, down about 7% over the past month, even as its reputation rests on solid real estate cash generation. The headline today is not revenue, which was steady at CA$277.7m. The real shock is profit power. Basic earnings per share jumped to CA$7.93 in the quarter and trailing 12 month net profit margin sits at 18.5%. That level of earnings will make investors question whether the recent share price weakness still lines up with the...