NFI Group (TSX:NFI) is a Winnipeg-based company that manufactures and sells buses in North America and around the world. Shares of this Canadian stock have plunged 35% in 2022 as of close on August 25. The stock has plummeted 56% in the year-over-year period.
This stock has suffered a steady decline since peaking in the spring of 2018. That said, I’m not prepared to turn my back on NFI Group just yet. The stock could be a great buy-the-dip target in this volatile market.
The company released its second quarter fiscal 2022 earnings on August 3. NFI Group delivered total revenue of $398 million – down significantly from the previous year. Meanwhile, it reported an adjusted EBITDA loss of $21 million and an adjusted net loss per share of $0.64. It finished the most recent quarter with a total backlog position of 9,674 equivalent units (EUs).
Looking ahead, NFI Group reaffirmed its fiscal 2022 guidance. It anticipates revenues between $2.3 billion and $2.6 billion. The company also projects adjusted EBITDA between $15 million and $45 million for the full year.
Shares of this Canadian stock are trading in favourable value territory relative to its industry peers. Moreover, NFI Group last paid out a quarterly dividend of $0.053 per share. That represents a modest 1.6% yield.
