Manx Telecom Share Discussion Threads

[crazycoops] 10/8/2017 14:17

I wonder what the criminal investigation relates to - re: intraday RNS - ?

[cwa1] 09/8/2017 07:55

Cheers jonwig, thanks for that. Here's hoping for solid, unremarkable(unless in a good way!!) results.

[jonwig] 09/8/2017 07:28

Yesterday's rise down to an article in yesterday's IC by favourite tipster ST?
Conclusion:

Offering a prospective dividend yield of 6.4 per cent, and rated on a reasonable nine times cash profit to enterprise value, I feel Manx Telecom’s shares are worth buying at 180p ahead of next month’s results.

The date is 12 September.

[trekker60] 05/8/2017 10:22

I bought a small holding in these three years ago (shortly after the float) at £1.63 to put in my ISA, purely for the annual income of around 6% at that price. Still holding despite recent share price fall as my original thinking for buying still holds. Cannot see any reason for selling on fundamentals, particularly after Friday's little uptick in price - but then as a private investor it tends to be the 'unknown unknowns' which catch me out!

[masurenguy] 03/8/2017 08:26

Jonwig - hopefully we will see some uplift in price in the wake of the recent broker note but in the meantime the 6.3% yield, on your buying price this morning, sustains my current holding here.

[jonwig] 03/8/2017 08:21

The latest broker update was from Liberum (12 July) - target price 236p. Suggests new investments will improve free cashflow (I'm not sure just what these will involve) giving opportunity to further increase dividend at above 5% pa or pay down debt.

Recent option grants are based on some pretty stringent TSR and FCF targets, but generous if they are beaten ... would be good for shareholders, too.

They've just cut their data and roaming charges. I don't know anything about the background to this, or investor implications.:



My buying price just now was 173p, even though quoted offer was 177p.

EDIT: buyers are paying 174 now. These are shown wrongly as 'sells' so it looks as though a lot more buying will be needed to shift the stated offer price? Maybe.

[speedsgh] 02/8/2017 17:00

jonwig - Last update on MANX by ST in his IC column was indeed on 27/3/17 with a BUY recommendation.

[jonwig] 02/8/2017 09:18

ST was pretty positive in the IC (27 March) at 197p with a target of 225p. I don't think he's mentioned it since.

I don't hold but will have a look when I've time.

[essentialinvestor] 02/8/2017 08:57

Well I just bought a very small amount 173.5.

Debt is on the high side, however stable(ish) revenues.

[cwa1] 02/8/2017 08:56

Morning

Joined the band here this morning. Been watching it for a while. Bit concerned by the constant falling over the past few months of the share price and wonder if that may be indicative of of some background issue that only us retail mugs don't know of?Or maybe a sizable seller in the background? Who knows......

Against that, the very recent update seemed satisfactory with what seem only minor issues. They also made a very strong and broad comment that cash flow was strong and the dividend was safe and sound for the foreseeable at least: Underlying cash flow remains strong, continuing to support our dividend policy.

So on current forecasts of 11.5p for the dividend at my buying price of 173, that gives a very chunky yield of of about 6.6%. With earnings estimates of 14.7p they currently trade on a PER of around 8.5x. Also worth noting that they MAY qualify for BPR for IHT(please satisfy yourself before taking this as gospel!!).

All in all there seems to be a worrying share price trend V decent fundamentals at the moment. Decisions, decisions....but on balance the fundamentals won out in the end for me.

Good fortune to all holders.

[essentialinvestor] 01/8/2017 13:52

Financial services compromise a large amount of the IMO economy.
Brexit uncertainty may be weighing imv. The debt level perhaps
worth keeping in mind.

Aleman, are you holding here?, TIA.

[aleman] 01/8/2017 08:00

Diluted EPS 14.3p. Dividend 10.9p.

[wllmherk] 31/7/2017 21:24

Anyone know the dividend cover here, can't find it on ADVFN ?

wllm

[masurenguy] 28/7/2017 05:25

There is no record of Miton ever being a significant shareholder in this company or any announcement that they have either bought or sold shares since the original IPO 3 years ago.

The current list of significant institutional shareholders (holdings above 3%) as at the end of April this year is as follows:
•Aberdeen Fund Managers Limited 10.12%
•Standard Life Investments Limited 7.35%
•AXA Investment Managers UK Limited 5.65%
•Unicorn Asset Management Limited 5.06%
•Hargreave Hale Limited 4.78%
•Premier Fund Managers Limited 4.71%
•Santander Asset Management UK 4.60%
•Oakley Capital Management Limited 3.43%

These 8 major shareholders collectively own 45.7% of the issued shares.

[coolen] 27/7/2017 23:51

MW, "cash flow" may indeed be their undoing. Is Miton, an early member of their fan club, selling ?

[mw8156] 27/7/2017 15:09

In an environment where any growth is hard to come by and profits might even fall, they would be better paying off some of their debt and paying the Directors sparingly while interest rates are so low rather than handing out such a large divi?

[cwa1] 16/7/2017 16:28

coolen, I am working on the IHT exemption premise at least, hopefully correct but no guarantee given by me!

[coolen] 15/7/2017 00:07

From the Company: "There is a zero per cent corporate tax rate which applies to the vast majority of Manx Telecom's business and means that the Group currently pays no corporation tax on its annual profits. Manx Telecom is listed on the Alternative Investment Market"

Do not disagree with the poor share price performance but the tax status should help cash flow, especially compared with others in the sector (cash flow having been of some concern).

Aim status should mean 100% IHT exemption, perhaps ?

[basil16] 14/7/2017 23:07

Is anyone here not bothered by the reference to the 200 day moving average? A deficit is not usually a good thing.

[yf23_1] 01/6/2017 18:18

TT starts this weekend

[masurenguy] 01/6/2017 16:01

A nice and quiet thread. This looks like a solid business with a growing yield, which at todays price is currently 5.5% .
Consequently, I took an initial small position here earlier today within my equity ISA portfolio although it is showing as a sell.

[gretel1921] 01/4/2017 23:13

28-Mar-17  Buy Gary Lamb 194.50p 280,000 £544,600.01








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[essentialinvestor] 29/3/2017 20:46

It's endemic, and also applies to the good, bad and ugly.

The sad fact is there are precious few CEO's who really create value,
and many who are highly efficient at value destruction.

Significant director (market) purchases are one of my favourite filters,
however it is more likely to be NED's or the Chairman as executive directors
are so often loaded with options.

[serratia] 29/3/2017 20:40

EI,

The simple answer is not enough. FCRM would have made investors money but I didn't like they way they rewarded themselves. There's another I'm watching as they have good tech but are milking it, will they grow sales to cover their excess ? I'll just watch for now.
I have no problem with options as long as they're a stretch not free money.

[essentialinvestor] 29/3/2017 20:22

And how many LSE listed shares does
that leave exactly?.

HLMA which has probably the greatest 40 year record of any single UK listed stock
has a generous options package for executives.