VANCOUVER, BC / ACCESSWIRE / September 28, 2016 / Endurance Gold Corporation (TSX.V: EDG, “Endurance” or “Company”) announces the approval of 2016 Program on the Pardo Joint Venture (“Pardo JV”) Property. The Pardo JV Property is comprised of 16 claims located approximately 65 kilometres (“km”) northeast of Sudbury, Ontario. Endurance holds a 35.5% JV interest in the Pardo JV Property. The other 64.5% JV interest is held by a wholly-owned subsidiary of Inventus Mining Corp. (formerly Ginguro Exploration Inc. (“Inventus”)). Inventus is the operator (the “Operator”) of the Pardo JV. The property is subject to a 3% net smelter returns royalty, of which one-half can be purchased for $1,500,000 at any time.

Endurance received an initial program proposal from the Pardo JV Operator on August 17. The program budget included expenditures that predated the JV Management Committee (“MC”) meeting and the program did not conform with the defined program timing requirements in the JV Agreement. After unsuccessful requests to resolve, on September 2 Endurance issued a Notice of Arbitration, seeking to enforce, amongst certain other contested issues, the provisions of the JV Agreement regarding the timing of annual programs and the timing for implementation of expenditures for approved programs. As a result, an interim award from the arbitrator was issued on September 14, which set the date for the Pardo JV MC meeting to review and approve the 2016 program on September 23 and the earliest possible start-date for the proposed program expenditures attributable to the 2016 JV program was set at October 23. Furthermore, the interim award stated that the 2017 annual program must be presented at least 60 days before year-end unless agreed otherwise by the parties.

Subsequently, the Operator of the JV decided to withdraw the bulk-sample from the 2016 program proposal and submitted to the MC a revised 2016 program which focused on certain studies in preparation for the 2017 program. The revised 2016 program, with a budget totaling $253,000, was approved by both JV parties on September 23. Thus activities during the balance of 2016 will include two engineering studies relating to geostatistical analysis and ore sorting technologies, as well as other land administrative expenditures. Endurance has until October 23 to elect to participate in the amended 2016 Program.

About Endurance

Endurance Gold Corporation is a company focused on the acquisition, exploration and development of highly prospective North American mineral properties with the potential to develop world-class deposits. The Company’s exploration focus, for projects operated by Endurance, is intrusive-related mineral systems with potential for discovery of major new precious or rare metals deposits, and its business plan offers shareholders exposure to several majority-owned exploration projects with significant discovery potential such as the Elephant Mountain Gold Property in Alaska and the Bandito Rare Earth-Niobium Property in the Yukon. The company also owns a significant shareholding in GFG Resources which controls the entire Rattlesnake Hills gold district, Wyoming. Please visit www.endurancegold.com.

ENDURANCE GOLD CORPORATION

Robert T. Boyd
President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:

Endurance Gold Corporation
(604) 682-2707, info@endurancegold.com
www.endurancegold.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results may differ materially from the expected results.

In the preparation of this news release, Endurance has relied on information prepared by the operator of exploration programs, and summarized to the Company for this release. Robert T. Boyd, P.Geo. is a qualified person as defined in National Instrument 43-101 and supervised the information provided by the operator and forming the basis for this release. There has been insufficient exploration to define a mineral resource on the Pardo JV Property to date, and it is uncertain if further exploration will result in a delineated mineral resource.

SOURCE: Endurance Gold Corporation

ReleaseID: 446157

LONDON, UK / ACCESSWIRE / September 28, 2016 / Active Wall St. blog coverage looks at the headline from Boston Scientific Corporation (NYSE: BSX) and EndoChoice Holdings, Inc. (NYSE: GI). Both companies Boston Scientific (“BSC”) announced on September 27, 2016, that it has entered into a definitive agreement to acquire EndoChoice Holdings. Executives from BSC stated that it would pay $8 per share in cash for EndoChoice, a premium over its closing price of $4.22 per share on September 26. Register with us now for your free membership and blog access at: http://www.activewallst.com/register/.

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A step towards diversification

BSC has aimed at diversifying its portfolio in the recent years. The endoscopy device unit, of which EndoChoice will be a part, sales rose 11% to $361 million in the June quarter, according to a Wall Street Journal report.

It is good to note that EndoChoice generated approximately $75 million of total sales in the 12-month period concluding on June 30, 2016. EndoChoice provides solutions, services, and innovative products for a wide range of gastrointestinal conditions. The global market of endoscopy devices is one of the fastest growing sectors in the medical device industry, and is estimated to fetch about $75.8 billion by 2022, according to a visiongain report.

Boston Scientific Strengthens ist Endoscopy Department with Acquisition

BSC, primarily known for the development of Taxus Stent, a drug-eluting stent, used to open clogged arteries, has executed several mergers in the recent past to establish itself as a world leader. Its acquisition of the American Medical Systems, a provider of devices to treat enlarged oriostrate, urinary incontinence, and erectile dysfunction, which saw the deal closed on August 4, 2016. The deal was finalised at $1.6 billion plus a potential $50-million milestone payment on set revenue goals for 2016. BSC further strengthened its stance in the endoscopic ultrasound device sector on April 1, 2015, with the acquisition of Xlumena Inc., the producer of the world’s first stent for endoscopic ultrasound-guided transluminal drainage of symptomatic pancreatic pseudocysts. The deal was closed at $65.5 million, and an additional $12.5 million in milestone payments on set revenue goals through 2018.

Breaking down the merger

The Boston Scientific/EndoChoice merger is significant for both entities as stated by the executives.

“The addition of EndoChoice products and services to our portfolio supports our strategy to provide comprehensive solutions to gastroenterology caregivers and the patients they serve,” said Art Butcher, senior vice president and president, Boston Scientific (endoscopy), in the official press release.

Under the terms of the agreement, BSC will raise a tender offer for all Endochoice’s outstanding shares at a cash price of $8.00 per share. The same price would be in consideration for the remaining shares which participated in the tender offer, according to the official press release. The deal, is expected to close in the fourth quarter of 2016, subject to customary closing conditions. The transaction is expected to be less accretive on a GAAP basis, due to amortization expense and transaction and integration costs in 2017.

Stock Performance

At the closing bell, on Tuesday, September 27, 2016, Boston Scientific’s stock slightly slipped 0.04%, ending the trading session at $23.72. A total volume of 12.32 million shares were traded at the end of the day, which was higher than the 3-month average volume of 8.35 million shares. In the last three months and previous six months, shares of the company have advanced 6.13% and 26.04%, respectively. Moreover, the stock surged 28.63% since the start of the year.

On Tuesday, Endochoice’s stock price almost doubled as it surged 88.39% above its previous closing price of $4.22 to end the trading session at $7.95, close to its acquisition price. A total volume of 7.47 million shares have exchanged hands, which was higher than the 3-month average volume of 57.36 thousand shares. EndoChoice Holdings’ stock price advanced 110.32% in the last month.

Active Wall Street:

Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

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The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst, for further information on analyst credentials, please email info@activewallst.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

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CONTACT

For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

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SOURCE: Active Wall Street

ReleaseID: 446150

BOSTON, MA / ACCESSWIRE / September 28, 2016 / Pricing Nation is now providing a National Future Home Price Index based on an aggregation of its respective MSA Future Home Price Indices. We believe this more micro based, ground up approach will add value to the home price forecasting space. The MSA with the highest growth in our projection is Miami at 9.21%. The MSA with the lowest growth in our projection is Seattle at -1.73%. We intend to publish our National Forecast quarterly. Pricing Nation also projects changes in home prices at the zip and house level.

The purchase of a home is historically the largest investment a family will make. However, due to increasing volatility from a number of fronts including global markets, home values are not always likely to increase. To ensure that buyers and sellers are confident in their most important investment decision, Pricing Nation supplies home price forecasts at the house level, the zip level, the MSA level and now the National level. Our models have been built based on local demand/supply factors for pre-recession, recession and post-recession data. The models have been shown to be highly statistically significant in predicting major market moves. We regularly report on the ongoing predictability of our models.

Of particular note is that Pricing Nation’s forecasting model, on a back-tested basis, would have anticipated the severe downturn on average in MSA home values in August 2006, a full twelve months before the actual downturn hit in August 2007, and 16 months before the U.S. officially entered a recession.*

Pricing Nation offers free “Home Investment Report Cards” including local demand/supply factors and grades for each home in the current MSAs at www.pricingnation.com. For an extra $3.99 per home, Pricing Nation is offering its home level forecast for the next twelve months. “The Home Investment Report” card is designed to be easy to use for all home buyers and sellers.

Pricing Nation is currently providing projections for homes in the Boston, Seattle, Miami, Tampa MSAs and NYC and is expanding its offerings to other cities in the near future.

For more information about our forecasts, please contact Raj Koganti at raj@pricingnation.com.

* Downturn data reported by S&P/Case-Shiller Home Price Indices, and recession data reported by the National Bureau of Economic Research (NBER)

About PricingNation:

PricingNation was launched in 2013 with the intent to provide its customers the best possible financial information regarding how their chosen homes will change in price.

The U.S Housing Crisis shed a lot of light of housing volatility of housing as a primary investment. The home has always been the center of the ‘American Dream.’ We at PricingNation are committed to help prevent people from losing their dreams. A home buyer has a lot of riding on their home purchase, and should have insight into whether or not their homes is a good investment. We believe in providing as much financial knowledge as possible to home buyers to help them make the best decisions based on all local information that is available. We believe that the ‘main street’ should have the best financial knowledge possible.

That is why we have developed a tested statistical methodology that takes into account all the local level demand and supply factors and forecast how the home price will change in the future. Our ‘home investment report card’ provides our customers with necessary information to help you make the right decisions , and put you in the driving seat.

Our philosophy is to provide superior financial information to our customers, empower them to make the right decisions and to protect their investments. We are here to help- we are here for you.

SOURCE: PricingNation

ReleaseID: 446131

LONDON, UK / ACCESSWIRE / September 28, 2016 / Active Wall St. blog coverage looks at the headline from Shire PLC (NASDAQ: SHPG). Shire and Momenta Pharmaceuticals Inc. (NASDAQ: MNTA) announced on September 27, 2016, that former had ended a five-year agreement for collaboration with Momenta Pharma for the development and commercialization of a proposed biosimilar of HUMIRA (adalimumab). Register with us now for your free membership and blog access at: http://www.activewallst.com/register/.

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According to the press release issued by Momenta, that “based on a comprehensive portfolio assessment, following the acquisition of Baxalta,” Shire has decided to terminate the collaboration agreement for the development and commercialisation of M923. The original collaboration agreement was signed in 2011 between Momenta Pharma and Baxalta. Since Shire acquired Baxalta, it would have to abide by the terms of the original agreement. According to the terms, the agreement will terminate only after twelve months of the notice and hence Shire will have to continue funding the M923 program till then.

Shire will immediately start the process of transferring to Momenta Pharma all ongoing clinical, regulatory, and commercialization data with regards to M923. Due to the termination, Momenta Pharma would regain all the global and development rights to M923.

Craig Wheeler, President and CEO of Momenta Pharma stated on the matter:

“We view Shire’s decision as a significant opportunity for us to capture additional value from this program for the Company and its shareholders. We remain very excited about the potential for our biosimilar HUMIRA candidate.”

The history of the companies’ involvement in the agreement

Baxalta came into existence in July 2015, as a result of the spin off by Baxter International’s global biopharmaceutical business – Baxter BioScience. Shire had announced the merger with Baxalta in January 2016 for $32 billion, which was finalized in June 2016. The combined entity became one of the top leader in rare diseases and other specialized disorders. Baxalta became a subsidiary of Shire and was focused on products in specialty areas of hematology, immunology, and oncology. Baxalta now under Shire continued with the development and clinical trials for the various drugs including M923.

The Original drug HUMIRA (adalimumab)

HUMIRA is the highest selling TNF (tumor necrosis factor) blocker medicine approved for the treatment of rheumatoid arthritis, chronic plaque psoriasis, Crohn’s disease, ankylosing spondylitis, psoriatic arthritis, and polyarticular juvenile idiopathic arthritis. Humira is a flag ship product of AbbVie Inc. with approximate sales of $ 14 billion in 2015.

The Biosimilar – M923

M923 is a biosimilar of HUMIRA and is currently in the Phase III trials in patients with chronic plaque psoriasis. The trials are to study the safety, efficacy, and immunogenicity of M923 in comparison to HUMIRA. M923 was developed in collaboration by Momenta Pharma and Baxalta Incorporated vide an agreement in 2011. The pivotal clinical trial for M923 was started in October 2015.

Future Outlook

Shire has a vision of double-digit, top-line revenue growth with a goal to achieve total revenue in excess of $20 billion by 2020. Its focus is on development of drugs for rare diseases and nearly 65% of its revenues, after the Shire-Baxalta merger, come from this stream. Biosimilars were not a part of Shire’s vision.

Apart from HUMIRA biosimilar, Shire has also returned rights of CHS-0214 (etanercept) another biosimilar for Enbrel (etanercept), an Amgen Inc. product. CHS-0214 (etanercept) was being developed by Baxalta in collaboration with Coherus BioSciences. Coherus will regain rights to CHS-0214 etanercept in Europe, Canada, Brazil, the Middle East and other territories.

As far as Momenta Pharma is concerned, it will need to gear up fast as competition from other companies who are working on biosimilars for HUMIRA heats up. The US FDA has given its approval for Amgen’s biosimilar for HUMIRA – Amjevita (adalimumab-atto). If approved, Amgen expects to launch the drug by 2018. In July 2016 Samsung Bioepis’ HUMIRA biosimilar – SB5 has been accepted for review by the European Medicines Agency. SB5 will be marketed by Biogen. In March 2016, Merck Group was in the late stage trials for its HUMIRA biosimilar – MSB11022. In India, Zydus Cadila has already launched a HUMIRA biosimilar product – Exemptia in 2014.

Stock Performance

Shire stock prices have been rising since July 2016, and on Tuesday, the stock closed the trading session at $200.22, slightly up 0.57% from its previous closing price of $199.09. A total volume of 1.21 million shares have exchanged hands, which was higher than the 3-month average volume of 1.19 million shares. Shire’s stock price advanced 5.08% in the last month, 17.17% in the past three months, and 18.91% in the previous six months. The stock is trading at a PE ratio of 31.80 and has a dividend yield of 0.40%.

Momenta Pharma’s share price, which has been on a bearish track has been slowly regaining its pace, finishing yesterday’s trading session at $11.86, advancing 1.89%. A total volume of 323.11 thousand shares exchanged hands. The stock has advanced 15.93% and 33.11% in the last three months and past six months, respectively.

Active Wall Street:

Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

AWS has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst, for further information on analyst credentials, please email info@activewallst.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

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This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

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SOURCE: Active Wall Street

ReleaseID: 446134

LONDON, UK / ACCESSWIRE / September 28, 2016 / Active Wall St. announces the list of stocks for today’s research reports. Pre-market the Active Wall St. team provides the technical coverage impacting selected stocks trading on the Toronto Exchange and belonging under the REITs industry. Companies recently under review include Canadian Apartment Properties REIT, Canadian REIT, Boardwalk REIT, and Dream Office REIT. Get all of our free research reports by signing up at: http://www.activewallst.com/register/.

On Tuesday, September 27, 2016, the Toronto Exchange Composite Index was down 0.42%, finishing the day at 14,558.04.

Active Wall St. has initiated research reports on the following equities: Canadian Apartment Properties REIT (TSX: CAR.UN), Canadian Real Estate Investment Trust (TSX: REF.UN), Boardwalk Real Estate Investment Trust (TSX: BEI.UN), and Dream Office Real Estate Investment Trust (TSX: D.UN). Register with us now for your free membership and research reports at: http://www.activewallst.com/register/.

Canadian Apartment Properties REIT

On Tuesday, shares in Toronto, Canada headquartered Canadian Apartment Properties REIT recorded a trading volume of 246,209 shares, which was higher than their three months average volume of 246,124 shares. The stock ended the day 0.03% higher at $29.97. Canadian Apartment Properties REIT’s stock has fallen by 2.69% in the last one month. However, the stock has gained 11.07% in the past one year. The Company is trading below its 50-day and 200-day moving averages. The stock’s 200-day moving average of $30.78 is above its 50-day moving average of $30.40. Shares of the Company, which operates as an open-end real estate investment trust and owns interests in multi-unit residential rental properties, including apartments, townhouses, and land lease adult lifestyle communities located in Canada, traded at PE ratio of 11.95. See our research report on CAR-UN.TO at: http://www.activewallst.com/registration-3/?symbol=CAR.UN.

Canadian Real Estate Investment Trust

Toronto, Canada based Canadian Real Estate Investment Trust’s stock edged 0.29% higher, to finish Tuesday’s session at $47.76 with a total volume of 173,831 shares traded. Over the last one month and the previous three months, Canadian Real Estate Investment Trust’s shares have fallen by 3.36% and 0.08%, respectively. However, the Company’s stock has gained 20.61% in the past one year. The Company’s shares are trading above its 200-day moving average. Canadian Real Estate Investment Trust’s 50-day moving average of $49.03 is above its 200-day moving average of $47.26. Shares of the Company, which operates as a closed-end real estate investment trust in Canada and owns and manages a real estate portfolio consisting of retail properties, such as food-store-anchored strip plazas and shopping centers; industrial properties, such as distribution facilities, warehouses, and buildings; and office properties, traded at a PE ratio of 16.62. The complimentary research report on REF-UN.TO at: http://www.activewallst.com/registration-3/?symbol=REF.UN.

Boardwalk Real Estate Investment Trust

Calgary, Canada headquartered Boardwalk Real Estate Investment Trust’s stock edged 0.80% higher, to close the day at $50.60. The stock recorded a trading volume of 81,816 shares, which was above its three months average volume of 151,367 shares. Shares of Boardwalk Real Estate Investment Trust, which engages in the acquisition, refurbishment, management, and ownership of multi-family residential communities in Canada, have fallen advanced 0.40% in the previous one month. The company’s shares are trading below their 50-day and 200-day moving averages. Moreover, the stock’s 200-day moving average of $53.26 is greater than its 50-day moving average of $50.95. Register for free and access the latest research report on BEI-UN.TO at: http://www.activewallst.com/registration-3/?symbol=BEI.UN.

Dream Office Real Estate Investment Trust

On Tuesday, shares in Toronto, Canada based Dream Office Real Estate Investment Trust ended the session 0.23% lower at $17.12 with a total volume of 111,209 shares traded. Shares of Dream Office Real Estate Investment Trust, which invests in the real estate markets of the Canada, have advanced 4.45% in the last one month. The stock is trading above its 50-day moving average. The company’s 200-day moving average of $18.85 is greater than its 50-day moving average of $16.80. Get free access to your research report on D-UN.TO at: http://www.activewallst.com/registration-3/?symbol=D.UN.

Active Wall Street:

Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

AWS has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst, for further information on analyst credentials, please email info@activewallst.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

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SOURCE: Active Wall Street

ReleaseID: 446138

LONDON, UK / ACCESSWIRE / September 28, 2016 / Active Wall St. announces its post-earnings coverage on Carnival Corp. & PLC (NYSE: CCL) (NYSE: CUK). The companies posted announced its third quarter fiscal 2016 results on September 26, 2016. The cruise-line operator reported the strongest quarterly earnings in its history, wherein both earnings and revenues beat market estimates and boosted its earnings forecast for the current year. Carnival Corp. and Carnival PLC operate as dual listed company, whereby the businesses of Carnival Corp. and Carnival PLC are combined and they function as a single economic entity through contractual agreements between separate legal entities. Register with us now for your free membership at: http://www.activewallst.com/register/.

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Earnings Reviewed

For the three months ended August 31st, 2016, Carnival reported net income of $1.42 billion, or $1.93 per share, up from $1.22 billion, or $1.56 a share, a year earlier. Excluding fuel-hedging effects and other items, earnings rose to record $1.92 per share compared to $1.75 per share reported in Q3 2015, thus outpacing analysts’ estimate of $1.89 per share and coming in above the company’s guidance range of $1.83 per share to $1.87 per share. The increase in adjusted earnings was driven by share buyback accretion which resulted in a $0.10 per share gain, operational improvements which resulted in a gain of $0.05 per share, and favourable net impact of fuel prices in currency were $0.02 per share. Revenue for Q3 2016 was $5.10 billion, up 4.4% from $4.90 billion in Q3 2015, ahead of the $5.06 billion projected by analysts.

Operating Metrics

During Q3 2016 Carnival’s capacity increased almost 4%. The North American brands were up over 2%, while its European, Australia, and Asian brands, also known as the EAA brands, were up over 6%.

Net revenue yields, which take into account spending per available berth, rose 2.7% which is near the higher end of growth expectation of 2% to 3%. This was the slowest growth since the first quarter of 2015. Net ticket yields were up 3.1%. This increase was attributed to North American brands deployment in the Caribbean, Alaska, and Europe, as well as its EAA brands deployment in Europe, partially offset by yield reductions in Australia and Asia.

After eight consecutive quarters of mid to high single-digit yield increases, Carnival’s net on-board and other yields only grew 1.3% over much tougher comparable from Q3 2015. Net cruise cost per Available Lower Berth Day (ALBD), excluding fuel, was up over 5% driven by the timing of advertising expenses and the premastering of Queen Mary 2 in dry dock.

Segment Revenues

During Q3 2016, Carnival’ Passenger Tickets revenue rose 4.7% on y-o-y basis to $3.80 billion from $3.63 billion in the year earlier quarter. The company’s Onboard and Other revenues grew 4% to $1.15 billion in the reported quarter. However, revenue from its Tour and Other segment were down 1.3% on y-o-y basis to $148 million.

Outlook

Carnival increased its FY16 adjusted earnings range to $3.33 per share to $3.37 per share from the prior range of $3.25 per share to $3.35 per share. Based on current booking trends, the company continues to expect FY16 net revenue yields in constant currency to be up approximately 3.5%. Also, the company expects net cruise costs, excluding fuel per ALBD, on a constant currency basis, for FY16 to be up nearly 1.5%.

The company is forecasting earnings in the range of $0.55 per share to $0.59 per share for Q4 2016. Analysts expect earnings of $0.58 per share. Q4 2016 net revenue yields in constant dollars are expected to increase roughly 3% on y-o-y basis Net cruise costs, excluding fuel per ALBD, are expected to grow 1% year over year on a constant dollar basis.

Share Repurchase

Since the beginning of Q3 2016, Carnival has repurchased over $700 million of its shares, bringing the cumulative total since late last year to over 50 million shares and nearly $2.5 billion of buybacks. The company has approximately $500 million remaining on the third $1 billion stock buyback authorization.

Stock Performance

Carnival Corp.’s stock jumped 4.05%, closing Tuesday’s session at $48.35 on volume of 7.84 million shares, which was higher than the three months average volume of 5.07 million shares. Additionally, the stock has advanced 2.65% and 11.38% in the last one month and past three months, respectively. The company’s shares are trading a PE ratio of 16.71 and have a dividend yield of 2.90%.

Carnival PLC’s ADS shares advanced 4.58%, closing the trading session at $48.83. The company’s shares have gained 1.60% in the last one month and 11.20% in the three months. The stock is trading a PE ratio of 16.87 and has a dividend yield of 2.87%.

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ReleaseID: 446148

LONDON, UK / ACCESSWIRE / September 28, 2016 / Active Wall St. announces the list of stocks for today’s research reports. Pre-market the Active Wall St. team provides the technical coverage impacting selected stocks trading on the Toronto Exchange and belonging under the Industrials sector. Companies recently under review include WSP Global, ONEX, and EnerCare. Get all of our free research reports by signing up at: http://www.activewallst.com/register/.

At the close of the Canadian markets on Tuesday, September 27, 2016, the TSX Composite index ended the trading session at 14,558.04, 0.42% lower from its previous closing price.

The Industrials Index was in the black, closing the day at 191.09, up 0.10%.

Active Wall St. has initiated research reports on the following equities: WSP Global Inc. (TSX: WSP), ONEX Corporation (TSX: OCX), and EnerCare Inc. (TSX: ECI). Register with us now for your free membership and research reports at: http://www.activewallst.com/register/.

WSP Global Inc.

On Tuesday, shares in Montreal, Canada headquartered WSP Global Inc. ended the session 0.52% lower at $42.41 with a total volume of 138,724 shares traded. WSP Global’s shares have fallen by 0.93% in the last one month and 3.10% in the previous one year. However, the stock has gained 11.58% in the past three months. The stock is trading above its 200-day moving average. The stock’s 50-day moving average of $42.90 is greater than its 200-day moving average of $40.78. Shares of WSP Global, which provides various professional services in the US, Canada, the UK, Sweden, Australia, China, South Africa, the UAE, Qatar, Singapore, Finland, and globally, traded at a PE ratio of 28.58. See our research report on WSP.TO at: http://www.activewallst.com/registration-3/?symbol=WSP.

ONEX Corporation

Toronto, Canada based private equity firm, ONEX Corp.’s stock edged 0.36% lower, to finish Tuesday’s session at $83.40 with a total volume of 191,740 shares traded. Over the last one month and the previous three months, shares of ONEX, which specializes in acquisitions and platform acquisitions, have advanced 4.67% and 5.59%, respectively. Furthermore, the stock has gained 9.40% in the past one year. The Company’s shares are trading above its 50-day and 200-day moving averages. ONEX’s 50-day moving average of $80.01 is above its 200-day moving average of $78.99. The complimentary research report on OCX.TO at: http://www.activewallst.com/registration-3/?symbol=OCX.

EnerCare Inc.

Toronto, Canada headquartered EnerCare Inc.’s stock closed the day flat at $19.04. The stock recorded a trading volume of 317,274 shares. EnerCare’s shares have advanced 3.70% in the last one month and 13.36% in the past three months. Furthermore, the stock has surged 46.89% in the previous one year. The company’s shares are trading above their 50-day and 200-day moving averages. Moreover, the stock’s 50-day moving average of $18.67 is greater than its 200-day moving average of $16.98. Shares of the Company, which through its subsidiaries, provides home and commercial services, and energy solutions in Ontario, traded at a PE ratio of 34.06. Register for free and access the latest research report on ECI.TO at: http://www.activewallst.com/registration-3/?symbol=ECI.

Active Wall Street:

Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

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The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst, for further information on analyst credentials, please email info@activewallst.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

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NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/.

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For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

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ReleaseID: 446137

LONDON, UK / ACCESSWIRE / September 28, 2016 / Active Wall St. blog coverage looks at the headline from BP PLC (NYSE: BP) as the company announced on September 27, 2016, that it had signed concession amendments at three offshore concessions in Egypt. The agreement was signed with his Excellency the Egyptian Minister of Petroleum, Eng. Tarek El Molla. Register with us now for your free membership and blog access at: http://www.activewallst.com/register/.

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The said amendments are for three offshore concessions – Temsah, Ras El Barr and Nile Delta Offshore. At the Temsah and Ras El Barr concessions BP holds 50% interest, whereas at the Nile Delta Offshore it holds 25% interest. The remaining interests are held by Italian energy company ENI through its subsidiary IEOC.

Commenting on the signing of the amendments, Hesham Mekawi, Regional President, BP North Africa said:

“BP is proud to progress the acceleration of its drilling activities in the three concession areas. The conclusion of these amendments was a critical milestone that allowed the discovery and fast track development of the Nooros field in the Nile Delta offshore concession which this month achieved record production of 700mmscfd and is targeted to reach 880mmscfd by early 2017. BP will also drill additional wells in Ras El Barr and Temsah areas that are expected to bring significant gas to the Egyptian domestic market.”

About the Nooros Offshore area

The amendments will pave the way for economic development of Nooros offshore area, where BP with Eni had reached record production. Both companies stated that production from Nooros reached 700 million cubic feet of gas per day, 13 months after the discovery. Due to the mature operating environment and the conventional nature of the project, BP and Eni have been able to keep production costs at the lowest. So far seven well have been operational and drilling for additional wells is in process. By spring of 2017, the maximum production capacity is expected to reach 160,000 barrels of oil equivalent per day (boed).

The Nooros field is located in Abu Madi West concession in the Nile Delta, Egypt. The development and production of Nooros field are operated by Petrobel on behalf of Nidoco Company, a joint venture between IEOC, BP, and the state company Egyptian General Petroleum Corporation (EGPC).

Gas Discovery at Baltim

On September 23, 2016, the companies had discovered gas at the second appraisal well Baltim SW 2X, where they found 86-m net gas column in two sand layers of Messinian age with excellent reservoir characteristic. Earlier in June 2016, BP and Eni had announced gas discovery at Baltim South Development lease where Baltim SW1 exploration well reached a total depth of 3,750 m, encountering 62 m of net gas pay in high-quality Messinian sandstones. With the appraisal of the second well, BP and Eni feel that the Great Nooros area is now expected to have a potential of more than 3 tcf of gas. BP and Eni, through its subsidiary IEOC, hold 50% interest each at the Baltim SW fields. The appraisal wells were drilled by Petrobel, a joint venture between IEOC and the Egyptian General Petroleum Corporation (EGPC).

The Great Nooros area is where both Baltim South West and Nooros fields are located and is 12 km from the Egyptian coastline in 25 m of water.

Stock Performance

BP PLC’s share price finished yesterday’s trading session at $33.61, slightly down 0.21%. A total volume of 4.16 million shares exchanged hands. The stock has advanced 2.96% and 12.73% in the last three months and past six months, respectively. Furthermore, since the start of the year, shares of the company has gained 13.90%. The stock has a dividend yield of 7.14%.

Active Wall Street:

Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

AWS has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst, for further information on analyst credentials, please email info@activewallst.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

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SOURCE: Active Wall Street

ReleaseID: 446145

LONDON, UK / ACCESSWIRE / September 28, 2016 / Active Wall St. announces the list of stocks for today’s research reports. Pre-market the Active Wall St. team provides the technical coverage impacting selected stocks trading on the Toronto Exchange and belonging under the Financial Services sector. Companies recently under review include Aston Hill Financial, INFOR Acquisition, Aberdeen Intl., and Financial 15 Split. Get all of our free research reports by signing up at: http://www.activewallst.com/register/.

On Tuesday, September 27, 2016, at the end of trading session, the Toronto Exchange Composite index ended the day at 14,558.04, 0.42% lower, on a total volume of 304,359,198 shares.

Additionally, the Financials index was slightly down by 0.02%, ending the session at 253.85.

Active Wall St. has initiated research reports on the following equities: Aston Hill Financial Inc. (TSX: AHF), INFOR Acquisition Corporation (TSX: IAC.A), Aberdeen International Inc. (TSX: AAB), and Financial 15 Split Corporation (TSX: FTN). Register with us now for your free membership and research reports at: http://www.activewallst.com/register/.

Aston Hill Financial Inc.

Calgary, Canada based Aston Hill Financial Inc.’s stock plummeted 11.11%, to close the day at $0.12. The stock recorded a trading volume of 61,500 shares. Shares of Aston Hill Financial, which primarily provides its services to institutional investors, have surged 33.33% in the last one month and 9.09% in the past three months. The company’s shares are trading above their 50-day moving average. Moreover, the stock’s 200-day moving average of $0.14 is greater than its 50-day moving average of $0.10. See our research report on AHF.TO at: http://www.activewallst.com/registration-3/?symbol=AHF.

INFOR Acquisition Corp.

Toronto, Canada headquartered INFOR Acquisition Corp.’s stock finished Tuesday’s session flat at $9.95 with a total volume of 1,000 shares traded. Over the last one month and the previous three months, INFOR Acquisition Corp.’s shares have advanced 0.40% and 2.37%, respectively. Furthermore, the stock has edged 0.71% higher in the past one year. Shares of the Company are trading above its 50-day and 200-day moving averages. INFOR Acquisition’s 50-day moving average of $9.94 is above its 200-day moving average of $9.82. The complimentary research report on IAC-A.TO at: http://www.activewallst.com/registration-3/?symbol=IAC.A.

Aberdeen International Inc.

On Tuesday, shares in Toronto, Canada headquartered Aberdeen International Inc. ended the session flat at $0.17 with a total volume of 38,500 shares traded. Aberdeen International’s shares have fallen by 5.56% in the last one month. However, the stock has surged 41.67% in the past one year. The stock is trading above its 200-day moving average. The company’s 50-day moving average of $0.17 is greater than its 200-day moving average of $0.16. Shares of Aberdeen International, which operates as a resource investment company and merchant bank focusing on small capitalization companies in the metals and mining sector, traded at a PE ratio of 1.46. Register for free and access the latest research report on AAB.TO at: http://www.activewallst.com/registration-3/?symbol=AAB.

Financial 15 Split Corp.

On Tuesday, shares in Toronto, Canada-based mutual fund company, Financial 15 Split Corp., recorded a trading volume of 84,529 shares, which was higher than their three months average volume of 72,238 shares. The stock ended the day 0.12% higher at $8.46. Financial 15 Split’s stock has gained 1.93% in the last one month and 8.90% in the previous three months. Furthermore, the stock has advanced 8.50% in the past one year. Shares of the Company, which invests in an actively managed portfolio of common shares of 15 core large capitalization Canadian and US financial services companies, are trading above its 50-day and 200-day moving averages. The stock’s 200-day moving average of $8.28 is above its 50-day moving average of $8.26. Shares of the Company traded at PE ratio of 18.47. Get free access to your research report on FTN.TO at: http://www.activewallst.com/registration-3/?symbol=FTN.

Active Wall Street:

Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

AWS has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst ,for further information on analyst credentials, please email info@activewallst.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

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AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/.

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SOURCE: Active Wall Street

ReleaseID: 446136

LONDON, UK / ACCESSWIRE / September 28, 2016 / Active Wall St. announces its post-earnings coverage on Thor Industries Inc. (NYSE: THO). The company reported announced its financial results for the fourth quarter fiscal 2016 (Q4 FY16) and full fiscal 2016 (FY16) on September 26, 2016. The ELKHART, Indiana, headquartered company reported its strongest year in its history, with solid revenue and earnings growth. Register with us now for your free membership at: http://www.activewallst.com/register/.

Today, AWS is promoting its earnings coverage on THO. Get our free coverage by signing up to http://www.activewallst.com/registration-3/?symbol=THO.

Earnings Reviewed

For the quarter ended on July 31st, 2016, Thor reported record net income from continuing operations of $82.8 million, or $1.57 per diluted share. Diluted earnings per share from continuing operations for Q4 FY16 increased 19.8% from the previous year, surpassing analysts’ consensus estimate of $1.37 per share.

Q4 FY16 revenues rose 21.7% on y-o-y basis to $1.29 billion beating analysts’ consensus estimates of $1.28 billion. The improvement in top-line was attributed to strong industry growth and the acquisition of Jayco announced in July 2016, for approximately $576 million in cash. Q4 FY16 gross profit margin expanded to 17.3% from 16.2% in the year-ago quarter, led by higher volumes and favorable changes in product mix.

FY 2016 Numbers

For FY16, Thor’s net income from continuing operations of record was $258.0 million, up 27.7% from $202.0 million in FY15. Earnings per share for FY 2016 came in at $4.91, up 29.6% from $3.79 earned in FY15 and ahead of Wall Street’s expectations of $4.79 per share. The company generated a record $4.58 billion in revenue for FY16, up 14.4% from $4.01 billion last year. Gross profit margins increased to 15.9% in FY16 from 13.9% in the previous year, driven by improved volumes, favorable changes in product mix and improvements in material costs.

Operating Metrics

Consolidated RV backlog on July 31, 2016 was $1.20 billion, up 108.5% from $574.0 million on July 31, 2015. Total dealer inventory increased 39.6% to approximately 94,500 units on July 31, 2016, from approximately 67,700 units on July 31, 2015. The inclusion of Jayco accounted for nearly all of the dealer inventory increase (approximately 25,300 of the 26,800 unit increase came from Jayco).

Segment Results

During Q4 FY16, sales of Towable RVs increased 19.8% on y-o-y basis to $961.1 million from $802.2 million in the prior-year’s period, driven by rising sales of lower-priced travel trailers and the inclusion of one month of Jayco’s revenues. Towable RV backlog increased $431.1 million, or 141.8%, to $735.1 million, compared to $304.0 million at the end of FY 2015, reflecting the inclusion of Jayco’s $223.4 million backlog as well as continued momentum in the sale of towable products.

Motorized RV sales were $292.7 million for Q4 FY16, up 35.3% from $216.4 million in the prior-year’s comparable period. The increase in motorized RV sales was a result of continued strong growth in the more moderately priced gas Class A and Class C motorhomes combined with the inclusion of one month of Jayco’s motorized revenues. Motorized RV backlog increased $191.8 million, or 71.0%, to $461.8 million from $270.0 million a year earlier, reflecting the inclusion of Jayco’s $122.5 million motorized backlog as well as strong, continued demand for smaller gas Class A and Class C motorhomes.

Cash

As of July 31, 2016, Thor had cash and cash equivalents of $209.90 million, up from $183.48 million as of July 31, 2015. Long-term debt at the end of Q4 FY16 was $360 million. There was no long-term debt as of July 31, 2015.

Outlook

Thor is projecting that strength in the RV market and shift toward more moderately priced towable products as well as the inclusion of full-year results of Jayco will lead to double-digit revenue growth in FY17. However, the gross margin in FY17 is predicted to decrease with the inclusion of low-margin product sales of Jayco, while it should add to full-year earnings per share.

Stock Performance

The stock closed the trading session at $85.66, climbing 3.53% from its previous closing price of $82.74, on Tuesday. A total volume of 3.33 million shares have exchanged hands, which was higher than the 3-month average volume of 600.57 thousand shares. Thor Industries’ stock price advanced 6.75% in the last month, 38.14% in the past three months, and 35.08% in the previous six months. Furthermore, since the start of the year, shares of the company has surged 53.99%. The stock is trading at a PE ratio of 18.46 and has a dividend yield of 1.40%.

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