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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Mti Wireless Edge Ltd. | MWE | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 42.00 | 08:10:11 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 42.00 | 42.00 | 42.50 | 42.00 | 42.00 |
| Industry Sector |
|---|
| TECHNOLOGY HARDWARE & EQUIPMENT |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 13/03/2023 | Final | GBP | 0.024522 | 23/03/2023 | 24/03/2023 | 06/04/2023 |
| 07/03/2022 | Final | GBP | 0.021341 | 17/03/2022 | 18/03/2022 | 31/03/2022 |
| 01/03/2021 | Final | GBP | 0.018025 | 18/03/2021 | 19/03/2021 | 31/03/2021 |
| Final | GBP | 0.016959 | 19/03/2020 | 20/03/2020 | 10/04/2020 |
| Top Posts |
|---|
Posted at 04/4/2024 07:30 by rivaldo Today's RNS shows 100,000 shares bought back at just over 46p, following a further 50k yesterday. MWE now hold 833,000 shares in treasury, so this buyback programme has accelerated markedly. Which is hopefully a sign that trading is continuing to go rather well. |
Posted at 20/3/2024 11:13 by rivaldo Allenby Capital have updated on MWE - they have a 75p price target.With a 7.2p per share cash pile, they forecast 4.56c EPS this year and a 3.3c dividend. That's an ex-cash P/E of only 11.6 and a 5.3% dividend yield: |
Posted at 20/3/2024 07:09 by rivaldo Good to see the share buybacks continuing, with MWE evidently considering these higher prices to still be good value:If MWE were to parcel off the now 583k shares in treasury to institutional buyers as previously they'd make a nice profit of probably £80k-£100k. |
Posted at 13/3/2024 09:54 by rivaldo Having listened to the presentation, here's a few points I thought were interesting (in no particular order - any corrections welcome!):- MWE have had a "very strong" start to 2024 - defence-related revenues were up to 44% of the total last year - MWE are one of only 2 competitors in India for 5G backhaul business, as one other was disqualified last year for concerns over quality - the October 7th attacks caused much destruction of not only telecoms equipment and towers, but also agricultural equipment and irrigation systems. Orders to replace these are now coming through - more fountain projects are likely, firstly in Israel and then internationally. These have very nice recurring income - Israeli defence budgets are being "increased dramatically" - all R&D is expensed, not capitalised - MWE are ready to look at more acquisitions, which will only be profit-enhancing - the dividend has grown 110% since 2018 |
Posted at 12/3/2024 08:42 by rivaldo MWE have just been tipped by the Investors Chronicle's Simon Thompson:"MTI is a smart play on the defence spending boom This technology group is rated on a single-digit earnings multiple even though it is delivering double-digit profit growth, and offers a 6.1 per cent dividend yield March 11, 2024 by Simon Thompson Annual pre-tax profit up 12 per cent to $4.8mn EPS rises 9 per cent to 4.58¢ Net cash of $8.1mn (9.2¢) The latest results from Israel-based MTI Wireless Edge (MWE:40p) highlight the benefits of diversification as growth from the technology group's antennae and water management systems units more than mitigated a weaker performance from its electronics division. The antennae business sells 'off the shelf' flat and parabolic antennas as well as custom-developed antenna solutions to a range of commercial and military customers. Buoyed by a sharp rise in military sales, divisional operating profit surged from $0.3mn to $0.8mn. Current events around the world suggest that requirements for military equipment will continue to grow in the coming years as western governments increase their defence budgets, too. Moreover, the conflict in the Middle East has triggered an increase in demand that should lead to higher stock levels of all military equipment being maintained by the Israeli government going forward. Defence-related work now accounts for 44 per cent of group sales. etc" |
Posted at 11/3/2024 09:28 by rivaldo Shore Capital have an 80p fair value here.They note that "FY23A results were slightly ahead/in line with expectations". They've maintained their forecasts for this year and forwards, which they note are firstly conservative and secondly exclude any potential acquisitions from the cash pile. They go for 4.5c EPS this year, with a 3.3c dividend. Net cash is forecast to rise to $9.3m - around 20% of the m/cap. They conclude: "Outlook and valuation: Each of the divisions has growth drivers with, in our view, Mottech well placed to potentially see much stronger demand than we forecast for its water management and control software. Typically, this improves the efficiency of irrigation systems, while reducing the cost of operating them. The Antenna division is likely to benefit from the rollout of 5G across the world as it already supplies seven of the top ten operators with its technologies and is well-placed in both defence and India. Similarly, we would also expect to see good demand for the defence-related products and services of Summit/PSK. We have an 80p fair value on the basis of a DCF analysis, which is more than corroborated were MTI to achieve an FY24F EV/EBITDA multiple of 12.8x (the average of our peer group)." |
Posted at 11/3/2024 07:31 by rivaldo Yep. That's 3.6p historic EPS, with PBT up 12% and EPS up 9%. Which with the $8.1m cash pile puts MWE at 36.5p on a rather cheap valuation on a single figure P/E on an ex-cash basis.Especially given the confident outlook for this year in all three divisions: "The macro trends for all three remain positive: from the continuing roll-out of 5G cellular connectivity; to tackling the growing global issue of water scarcity; and the significant increases in local and international defence spending." "Overall, MTI remains well positioned across all three divisions, with each division backed by strong macro trends underpinning their future prosperity. The first two months of 2024 have been in line with internal expectations and judging from the pipeline of potential opportunities, the Group is well placed, supported by a strong financial platform, to continue to seek to expand through a mix of acquisition-led and organic growth." |
Posted at 05/3/2024 07:20 by rivaldo Results will be on March 11th per today's RNS.Encouragingly - as with last year - there's no specific trading update, so under disclosure rules the assumption to be drawn is that MWE are trading in line with expectations (as they were last year). For reference, expectations are for: - 4.2c EPS, or 3.3p EPS - $8.2m net cash, or 20% of the m/cap - 3.2c dividend, or a 7.1% divi yield |
Posted at 27/9/2023 12:17 by rivaldo Shore Capital retain their 90p target.They se 4.2c EPS this year, rising to 4.7c and 5.1c EPS. The cash pile rises to $9.2m this year and then $10.5m and $11.8m, with a 5.9% dividend yield rising to 7.2%. The cash pile is now essentially around 8.5p per share, so the current year ex-cash P/E is only just above 10. Shore conclude: "Outlook and valuation: In the note that accompanied the FY22A results in March 2023 we highlighted that each of the divisions has long-term growth drivers with, in our view, Mottech particularly well placed to potentially see stronger demand than we forecast for its water management and control software. The Antenna division is likely to benefit from the rollout of 5G across the world, as and when it happens, as MTI already supplies seven of the top ten operators with its technologies, hence we are most encouraged by today’s news. We would also expect to see continued good demand for Summit/PSK with its defence-related products and services as demonstrated by the news last month that two key PSK projects had already made significant progress in Q3 FY23F. We also flagged last month that, along with many stocks on AIM, the share price has drifted lower during 2023. We maintain a 90p fair value on the basis of a DCF analysis, which is corroborated by MTI achieving an FY23F EV/EBITDA multiple of 11.2x (the average of our peer group). We note also that the prospective 5.9% dividend yield for FY23F should also provide strong support." |
Posted at 16/8/2023 13:50 by rivaldo Here's Simon's Thompson's tip (note the currency error for the EPS...fine apart from that):"MTI boosted by defence spending and offers 6% yield The technology group is set for another year of growth, but is only priced on a cash-adjusted PE ratio of 7.5 and pays a chunky dividend, too August 15, 2023 By Simon Thompson First-half pre-tax profit up 3 per cent to $2.1mn on slightly lower revenue of $22.4mn Strong performance from defence sector-related activities Second-half pipeline supports 11 per cent annual pre-tax profit growth First-half results from Israel-based technology group MTI Wireless Edge (MWE:41p) highlight the benefits of diversification. For example, the group is benefiting from the increase in government defence budgets across the world following Russia’s invasion of Ukraine. Its antenna division trebled its operating profit to $0.28mn (£0.22mn) on revenue of $5.8mn in the six-month period, buoyed by new orders from the military sector. Chief executive Moni Borovitz expects the momentum to be maintained in the second half. The antenna business also provides 5G network backhaul antenna systems. Although this market was relatively soft in the first half, MTI has materially increased its sales prospects by developing an automatic beam steering antenna solution that adapts to any small movements caused by different climate conditions. It is now working with three tier-one radio manufacturers and two tier-two customers to prove out the system. The group offers investors exposure to the themes of climate change and water scarcity, too. MTI’s wireless water management systems division reported 11 per cent higher first-half operating profit of $0.96mn on slightly lower revenue of $8.7mn, the improved level of profitability reflecting price increases and the benefit of costs being in shekels in a strong dollar environment. This year’s heatwave across continental Europe, and the need for countries to use water resources more efficiently, can only be positive for sales prospects. The business has started the third quarter well. The strength in both divisions offset weakness in MTI’s Summit electronics division, which represents 40 international suppliers of radio frequency/microwave components. Divisional operating profit declined a third to $0.78mn on 5 per cent lower revenue of $8mn, mainly due to delays with two projects. However, one has since been completed and the other is well under way, so expect a much improved second-half performance. Also, defence-related activities represent the majority of the unit’s revenue base, so increased government military spending is underpinning a strong pipeline of orders and design wins. Earnings guidance maintained Importantly, the directors are maintaining full-year guidance of 11 per cent growth in pre-tax profit to $4.8mn, which points to second-half pre-tax profit rising 18 per cent to $2.7mn on 13 per cent higher revenue of $26.7mn. On this basis, expect annual earnings per share (EPS) of 4.28p and a hike in the payout from 3¢ to 3.2¢ (2.5p). The dividend is rock solid, too. Net cash increased by 20 per cent to $6.25mn in the first half, and analysts at Allenby Capital expect a further rise to $9.4mn (8.35p) by the year-end, buoyed by strong cash generation. So, with earnings guidance maintained, and the shares rated on a cash-adjusted forward price/earnings (PE) ratio of 7.5 and offering a 6.2 per cent prospective dividend yield, the share price drift since the 2022 annual results (‘A lowly rated technology group offering a prospective 5.5% yield’, 13 March 2023) is worth exploiting. Buy." |
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