Stock Name: StarHub
Company Name: STARHUB LTD
Phillip Securities Research in a Feb 3 research report says: "Starhub's FY2011 results were significantly above our estimates of $301 million. Sales were higher on very strong postpaid ARPU of $76 for the 4th quarter, which was 4% higher as compared to the same period last year.
"However, margins were flattered by several one off items that were booked in the quarter. Excluding these one off items, EBITDA margin on service revenue would have been lower than the headline 33.1%, but still above recent trend levels at 31.3%.
"Management guided for their intention to maintain the dividend levels of 20 cents for FY2012E. We revised our estimates up by 6-8% for the next two years and lifted our target price to $2.90. Starhub's current market price would translate to a strong yield of 7%. MAINTAIN NEUTRAL."
Company Name: STARHUB LTD
| Research House: Phillip Securities | Price Call: HOLD | Target Price: 2.90 |
Phillip Securities Research in a Feb 3 research report says: "Starhub's FY2011 results were significantly above our estimates of $301 million. Sales were higher on very strong postpaid ARPU of $76 for the 4th quarter, which was 4% higher as compared to the same period last year.
"However, margins were flattered by several one off items that were booked in the quarter. Excluding these one off items, EBITDA margin on service revenue would have been lower than the headline 33.1%, but still above recent trend levels at 31.3%.
"Management guided for their intention to maintain the dividend levels of 20 cents for FY2012E. We revised our estimates up by 6-8% for the next two years and lifted our target price to $2.90. Starhub's current market price would translate to a strong yield of 7%. MAINTAIN NEUTRAL."
No comments:
Post a Comment