They also clarified that no arrangement or agreement with any third party has been reached in relation to each of the three major shareholders’ respective stakes in M1. In our view, M1’s share price has been largely supported by this potential takeover scenario and without this support, we believe M1 should trade based on its fundamentals. Meanwhile, its total service revenue held steady, edging up by 0.4% to $204.7 million. Consequently, NPAT fell 20.8% YoY to S$32.5m while EBITDA declined 10.7% to S$73.4m.
Operating revenue grew 4.7% to $251.6 million, from $240.4 million a year ago.
It was the second-most active stock on a churn of 21.6 million shares on Friday, more popular than even bluechip telco Singtel. However, they are still above our bear-case fair values, suggesting that it is not yet worthwhile to invest in these stocks, in our view. Adding on to the results, SPH, Keppel T&T, and Malaysian telco Axiata Group Berhad have also announced that they will not further their strategic review to dispose of their respective stakes in M1. If you like this article, we’ve got more. In terms of price action, M1 is definitely facing some downward pressure for retail investors. Your email address will not be published. Nomura has a 'Buy' rating on the stock and raised the target price to Rs 275 per share. Data powered by Upcoming Events. No, they are not cast in stone: You can expect them to be revised as new business developments materialise. M1 declared an interim dividend of S$0.052/share, down from S$0.07/share a year ago. CLSA reiterates a 'Buy' rating and raised the target price to Rs 330 from Rs 310. Fixed services revenue growth was driven by a 21.3% YoY increase in customer base while mobile revenue decline was mainly driven by declining average revenue per user (ARPU) despite a 3.3% YoY growth in total mobile customers. 2Q17 operating expenses, however, rose at a faster pace of 9.9% to S$210.1m, driven mainly by higher handset costs, and higher wholesale costs of fixed services.
In our view, M1’s share price has been largely supported by this potential takeover scenario and without this support, we believe M1 should trade based on its fundamentals. View Stock Calendar. M1 shares jumped above the offer price to S$2.13 at the open. Borrow on your terms. Your email address will not be published. For now, the prospect of high dividend payouts at M1 is proving to be a far more potent share-price driver than the growth-oriented, quad-play concept that SingTel and StarHub have pursued. The share price is in SGD. Shared … At the same time, CIMB Securities’s latest research report initiates a target price of $1.70, which is found here. On weak earnings outlook, which translates to lower dividends ahead, we downgrade M1 from Hold to SELL with FV of S$1.75 (prev: S$1.96).
Updated at 06 Nov 2020 17:16. At the same time, CIMB Securities’s latest research report initiates a target price of $1.70, which is found here. Looking ahead, we expect the competitive landscape to worsen with TPG’s entry and also with MyRepublic’s intent to launch mobile services as MVNO in Singapore. ARPU decline 4.3% in 2018, in part due to the wholesale pricing offered to MVNOs. The ongoing discussion about retail investors’ opinions on M1’s target price is found here. Meanwhile, M1’s EBITDA in 2Q fell 10.7% to $73.4 million, from $82.2 million a year ago.
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