Sentences with phrase «equity valuation by»

I find that if I haircut my (relatively debt - free) equity valuation by the value of excess debt, on average it tends to capture an appropriate value for the company.

Not exact matches

Tech companies with no profits (or even much of a business plan) soared to extreme valuations that were justified, in part, by the belief that future profits would be made faster and that equities were less risky than in the past.

«The bear market in valuations has already begun and supports our overall view that the next cyclical bear market in US equities may have already begun, but is being masked by an index price level that has fallen only 12 % thanks to the adrenaline shot to EPS from tax.»

For one, investors are going to have to get comfortable taking on more risk in their equity portfolios by buying stocks at higher valuations.

Jet previously raised $ 225 million at a $ 600 million valuation to take on Amazon — the most equity funding ever raised in the first 12 months by a US commerce company.

Global investors should not be put off by current equity market valuations, according to one global market strategist.

Jet previously raised $ 225 million at a $ 600 million valuation to take on Amazon — the most equity funding ever raised by a US commerce company in its first 12 months.

Valuations in equity markets have been high and can't be justified by company fundamentals, Allianz CEO Oliver Bate said.

«While everyone is focused on valuation and bubbles (to some degree rightfully so), the fact remains that the last few years have been supported by a low level of net equity issuance that has, all else equal, supported prices,» says Dan Greenhaus, chief global strategist at BTIG.

You can expect both groups to require a valuation — usually to be performed by appraisers of their choice — whenever a company seeks either a significant increase in credit or a new infusion of equity capital.

The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, largely solid financial position with reasonable debt levels by most measures and notable return on equity.

The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, expanding profit margins, largely solid financial position with reasonable debt levels by most measures and notable return on equity.

In April 2014, Airbnb had closed a $ 450 million round of funding, led by private equity firm TPG, at a $ 10 billion valuation.

As history has shown repeatedly, equities tend to recover their valuations over time, so allocating a portfolio accordingly may make sense to help prevent being burned by a hot hand.

Our approach to equity investing is driven by the desire to identify and purchase companies with proven track records and sound valuations.

This helps explain our preference for European, Japanese and emerging market (EM equities), where valuations look more reasonable and gains have been driven more by expected earnings growth.

Our general take on equities remains that valuations are somewhat on the high side, but with a dearth of investment alternatives, dividend - paying blue chips, such as those emphasized by the Dogs of the Dow strategy, remain an attractive option.

Third, by boosting banks» perceived resilience, the shift to longer - term, more stable funding also may have supported their equity market valuations.

The impact of a stronger dollar is likely to remain a hurdle for earnings, but U.S. equities are also contending with high relative valuations and a likely increase in interest rates by the Federal Reserve (Fed) in the second half of this year.

The fair value of our common stock has been determined in accordance with applicable elements of the practice aid issued by the American Institute of Certified Public Accountants, Valuation of Privately Held Company Equity Securities Issued as Compensation.

Equity gains are driven mostly by fundamentals, not valuation or share reduction pic.twitter.com/WCFS 0PwrTE

Finally, Chinese stocks (measured by the Shanghai Stock Exchange Composite Index) have trailed their Brazilian counterparts (measured by the Ibovespa Index) and moved in lock step with Russian equities (represented by the MICEX Index) since late January, based on Bloomberg data, and their low valuations are poised to potentially rise in a risk - on environment.

In estimating our BEV, we utilized the pre-money valuation implied in the Series G convertible preferred stock financing as the most appropriate indication of our aggregate equity value, adjusted by the estimated rate of return.

In estimating our BEV, we utilized the pre-money valuation implied in the Series G convertible preferred stock financing completed in July 2011 as the most appropriate indication of our aggregate equity value, adjusted by an estimated rate of return.

For instance, as measured by price - to - earnings (P / E) and price - to - book (P / B) valuations metrics, EM stocks continue to trade at a roughly 30 % discount to the broader global equity market (source: MSCI, as of 3/31/2015).

In our 1Q2015 letter, we noted that equity - market valuations were at dangerous levels by three different measures: the CAPE ratio, the Q - ratio, and the Buffett indicator, which are discussed at length in our last letter.

The Series A Preferred shall also be convertible into any future series of Preferred Stock (the «Future Preferred») under either of the following circumstances: (a) if such conversion is approved by the Board or (b) if such conversion is in connection with a future Preferred Stock equity financing in which the Company's fully diluted pre-money valuation is greater than the Company's fully diluted post-money valuation immediately following the Series A Financing contemplated by this term sheet (a «Future Financing»), in either case, on a one - for - one basis (subject to anti-dilution adjustment) at the option of the holder; provided however, if such conversion is in connection with a Future Financing, that the holder may convert into shares of Future Preferred only in the event that all of such shares of Future Preferred received by the holder upon conversion are sold to an Approved Investor (as defined below) no later than 90 days following the first closing of the Future Financing at a price per share no lower than the price per share at which the Company sells shares of such Future Preferred in the Future Financing and, provided further, that such Approved Investor is not an affiliate, family member, or related party of the holder.

Davis also provides financial advisory services primarily related to the valuation of privately - held equity and debt issued by financial services companies and advisory related to capital structures and M&A.

Going forward, as Japanese companies raise their notoriously low return on equity, Japanese stocks should be supported by relatively cheap valuations and rising dividends.

Too, this equity trades at a reasonable valuation that leaves room for healthy price appreciation potential to 2017 - 2019, by which time we project annual earnings will have surpassed $ 3.00 a share.

The Strategic Growth Fund and Strategic International Equity Fund remain tightly hedged here, but it bears repeating that our defensiveness at present is not driven by valuation considerations alone, nor by our broader concerns about underlying debt and mortgage conditions.

Our approach to building equity portfolios is driven by the desire to identify and purchase companies with proven track records and sound valuations.

Japan continues to benefit from reasonable valuations, an accommodative central bank and increased equity buying by pension funds.

European equities are not that cheap anymore by a number of valuation metrics; they are trading at an average of about 17 times earnings, which is not a wide undervaluation.1 In my view, the main reason to invest in European equities is the potential for, or the expectation of, a rise in corporate earnings that would be driven by the improving economic environment.

First, the «returns on equities» here are typically taken to be earnings yields, which as we've frequently noted, are affected by cyclical variations in profit margins that make them notoriously poor indicators of long - term prospective returns (see Two Point Three Sigmas Above the Norm and Margins, Multiples and the Iron Law of Valuation).

The past several years have featured little more than a gigantic asset swap, the short description being that massive volumes of government debt have been swapped by central banks for massive volumes of idle bank reserves, while massive volumes of low - yielding, covenant - lite debt have been issued into the hands of yield - seeking investors, in order to retire massive volumes of corporate equities at elevated valuations through buybacks.

Foreign Developed and Emerging Markets equity valuations are also attractive relative to their own history as represented by the 70th (CAPE) and 50th (P / B) historical percentile ranking for the MSCI EAFE Index, and the 25th (CAPE) and 64th (P / B) historical percentile ranking for the MSCI Emerging Markets Index.

This is the primary valuation ratio (also called «PE - ratio») used by most equity investors.

Investing in growing companies committed to sustainable practicesCommitted companies: The fund invests in growth companies with the goal of delivering positive financial and ESG performance.Active strategy: The managers utilize bottom - up research to identify companies with attractive sustainability, fundamental, and valuation characteristics.Veteran team: A dedicated sustainable investing team is backed by Putnam's equity research and quantitative / risk analysis groups.

3Apply for a home equity loan with a loan amount up to $ 100,000 between 5/1/2018 and 7/31/2018, and fund with Arizona Central Credit Union by 8/31/2018 to qualify for a free property valuation ($ 112.00 value).

We examined valuations by quintile and corresponding data on earnings, return on equity, and revenue growth (Figures 1 and 2).

Investing in growing companies solving sustainability challengesImpact companies: The fund invests in growth companies that directly demonstrate positive impact in social, environmental, or economic development.Active strategy: The managers utilize bottom - up research to identify companies with attractive sustainability, fundamental, and valuation characteristics.Veteran team: A dedicated sustainable investing team is backed by Putnam's equity research and quantitative / risk analysis groups.

As you know, our forward view is informed by valuations, and while there has been no material change in our market views from a valuation perspective, we are encouraged by the recent uptick in equity market volatility, and are hopeful that it will spawn new buying opportunities in the weeks and months ahead.

This helps explain our preference for European, Japanese and emerging market (EM equities), where valuations look more reasonable and gains have been driven more by expected earnings growth.

Long - Short Equity, or LSE, takes the EMN strategy (though they're not exact clones if we're to judge by their holdings and position sizes) and overlays a tactical equity strategy that targets an average 50 % exposure to the MSCI World Index, with the ability to adjust its exposure by + / - 20 % based largely on valuation and momEquity, or LSE, takes the EMN strategy (though they're not exact clones if we're to judge by their holdings and position sizes) and overlays a tactical equity strategy that targets an average 50 % exposure to the MSCI World Index, with the ability to adjust its exposure by + / - 20 % based largely on valuation and momequity strategy that targets an average 50 % exposure to the MSCI World Index, with the ability to adjust its exposure by + / - 20 % based largely on valuation and momentum.

Presented by: Warren Hastings of Scotia Wealth Management In this webinar presented by Warren Hastings of Scotia Wealth Management, the instructor will discuss the valuation of equities.

All stock selection is focused on two key fundamental drivers of long - run equity returns: stock valuations and business quality (as defined by measures of Profitability, Stability and Financial Strength).

The price - to - earnings ratio, or P / E ratio, is an equity valuation multiple defined as market price per share divided by annual earnings per share.

The Fund invests principally in equity securities of non-U.S. issuers that are viewed by the Advisor to reflect a combination of favorable market action and / or valuation.

When everyone believes in the inevitability of stocks, à la «Dow 36,000» (we'll get there by 2025 or so), equity valuations are high, past equity performance has probably been great, and the future equity premium is small — think 1929, 1972, August 1987 and February 2000.