Syncora Holdings Ltd. (SYCRF.PK)
A Bermuda-domiciled holding company whose operating subsidiaries provide financial guaranty insurance, reinsurance and other credit enhancement products to the public finance and structured finance markets throughout the United States and internationally.
Recs
badmanner
(98.04)
Submitted: 10/1/2008 11:33:41 PM :
Start Price:
$1.85
SYCRF.PK Score:
-84.73
insurer
Recs
Tygered
(48.68)
Submitted: 8/14/2008 2:09:07 PM :
Start Price:
$2.46
SYCRF.PK Score:
-77.37
Could be good for a quick pop.
Recs
foritzel
(53.74)
Submitted: 8/6/2008 5:44:29 PM :
Start Price:
$2.58
SYCRF.PK Score:
+79.05
this company isn't making any money plus their liabilities are nearly identical to their assets
Recs
knicksup19
(< 20)
Submitted: 8/4/2008 7:53:19 PM :
Start Price:
$2.40
SYCRF.PK Score:
-79.70
this stock and other mortgage insurance companies have been undervalued www.thebesthotstocks.com even promotes buying one of them
Recs
TheStockoholic
(< 20)
Submitted: 3/20/2008 9:28:42 PM :
Start Price:
$1.73
SYCRF.PK Score:
+69.66
We know what's going on with the subprime mess. SCA is becoming another casualty. Already a penny stock
(read: fairly worthless stock) SCA just keeps going lower. Eventually this stock will go bankrupt. If it's still around when credit and housing markets stabilize, keep an eye on it, but for now, stay away if you wish to keep your money.
Recs
boyetal
(< 20)
Submitted: 2/1/2008 9:15:21 AM :
Start Price:
$3.65
SYCRF.PK Score:
-76.21
its bound to bounce back after all its recent troubles... current price is under valued
Recs
ongterence
(< 20)
Submitted: 1/26/2008 3:54:09 AM :
Start Price:
$2.99
SYCRF.PK Score:
-77.66
financial stocks will absolutely rebound in the next 3-5 years. this stock has 0 long term debt, and is poised to make a strong comeback. the stock is extremely undervalued right now, and is being offered at an attractive price. i will be personally buying a couple of lots.
Recs
tussinOo
(< 20)
Submitted: 1/18/2008 10:08:50 AM :
Start Price:
$1.81
SYCRF.PK Score:
-71.65
cash infuuuuusion.
Recs
godsmacks1
(98.13)
Submitted: 1/17/2008 1:12:37 PM :
Start Price:
$1.85
SYCRF.PK Score:
+71.46
retail
Recs
NeroSagetrade
(87.82)
Submitted: 1/4/2008 8:56:39 PM :
Start Price:
$3.47
SYCRF.PK Score:
-73.61
This is what we call a balls to the walls pick. Security Capital Assurance looks fantastic on paper at just 1.2 times future earnings, less than 0.2 times book and 253M in cash with no debt. The problem lies in the CDOs its backing. In order for SCA to maintain its AAA credit rating it must raise roughly 2 billion dollars in additional cash or deal with considerably higher payments to back those CDOs. They have no debt so im sure there are credit facilities available to SCA and I highly doubt they will be denied a negotiable payment scheme on what they are already backing, so the risk-reward is more than fair right here. Don't expect XL Capital to save them but they're worth the gamble.
Nero
Sagetrade
Recs
morningstarboy
(< 20)
Submitted: 12/5/2007 12:50:35 PM :
Start Price:
$6.68
SYCRF.PK Score:
-73.51
As of close of business on 12/04/2007, this was a 5-star Morningstar stock that was trading below half of it's Morningstar fair value.
Recs
calim
(< 20)
Submitted: 11/29/2007 9:21:35 PM :
Start Price:
$7.09
SYCRF.PK Score:
-73.64
Financial market will recover, and this company has a good plan for preservering
Recs
NetscribeInsuran
(< 20)
Submitted: 3/12/2007 6:27:09 AM :
Start Price:
$28.55
SYCRF.PK Score:
-81.98
Security Capital Assurance Ltd is a Bermuda-based company that provides credit enhancement and protection products to the public finance and structured finance markets throughout the United States and internationally. The company through XL Capital Assurance its subsidiary provides credit enhancement and protection by the issuance of financial guaranty insurance policies and credit default swaps. Its subsidiary XL Financial Assurance provides reinsurance of the same products to other companies writing the business.
During 2006, its revenues increased by 23% to $238.6 million due to higher net premiums earned, increased investment income and higher fees income. Net income increased by 46% to $117.4 million which was the result of decrease in net losses and loss adjustment expenses, lower provisions for case basis reserves and lower preferred dividends. Company’s combined ratio in 2006 improved to 60.18% from 69.73% in 2005.
Certain dynamics within the financial guaranty industry like issuers preference for more choices, fixed income investor’s demand for more diversification, and capacity constraints of large companies make it possible for the company as well as other smaller players in the space to continue growing new business writings even in the current difficult new business environment where the larger players are struggling to grow.
While this has led revenue to grow at an astounding 37.71% outpacing the industry growth of 14.53% on a 5 year basis, even the company’s operating return on equity has improved from 10.7% in 2005 to 12.7% displaying the footprints left by prospective combined ratio. In the future it is expected that the company’s expenses would reduce considerably as it benefits from increasing scale which will only lead to a reduced combined ratio and higher profitability.
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