Is NFI a value trap or is it good time to take?

Thank you, Dan. Cutting dividend might not be an issue, the management is an issue. But the P/S and P/B are in history low and backlog is in history high.

I'm actually alarmed at the pace that NFI Group continually lowers its guidance. It's providing nearly zero trust in management for me, as every single quarter they seem to be lowering their forecasts or cutting vehicle delivery estimates.

IMO it is certainly not a value trap. This is a company that has had multiple cuts to the dividend, multiple guidance revisions downwards, and is now trading at 53x its expected earnings in the next year.

I wouldn't view this as a value trap, more like falling knife. I'd likely revisit the company in the future if it can get operations in order, but I'd expect that to take multiple years.