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Medical Facilities Corp
Symbol DR
Shares Issued 24,048,762
Close 2024-08-08 C$ 13.53
Market Cap C$ 325,379,750
Recent Sedar Documents

Globe says Medical Facilities maintained at "buy"

2024-08-08 07:44 ET - In the News

The Globe and Mail reports in its Thursday, Aug. 8, edition that Leede Financial analyst Douglas Loe continues to rate Medical Facilities "buy." The Globe's David Leeder writes that Mr. Loe gave his share target a 50-cent boost to $15.50. Analysts on average target the shares at $14. Mr. Loe says Medical Facilities continues to "comfortably" fund its dividend with distributable cash as its performance consistency persisted with its second quarter results. Mr. Lo says in a note: "As with most preceding quarters, EBITDA and distributable cash generated far exceeded actual dividend in the period, thus solidifying the firm's status as a leading dividend-bearing (and as one of the sustainably lowest payout ratios) within our coverage universe. ... Though Medical Facilities quarterly financial data has not in recent periods exhibited the sequential revenue/EBITDA/margin strength that it has in earlier years, we do expect FQ324 to be as strong as FH124 was, and we do expect FQ424 to be specifically strong on both top-line and EBITDA margin. ... For valuation purposes, we base our valuation on the proportion of equity held by common shareholders, about 52.5 per cent at the end of FQ224 by our calculation."

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