Telecoms equity research

Explore the most viewed and latest equity research and media content for companies within the Telecoms sector. Stocks in this sector provide telecoms services & equipment, and mobile services.

Telecoms equity research

Explore the most viewed and latest equity research and media content for companies within the Telecoms sector. Stocks in this sector provide telecoms services & equipment, and mobile services.

  • 12 Sep 18

LIBERUM: Manx Telecom* - Solid H1’18, Goshawk deal with EE

Manx H1’18 results show further resilient delivery across the range of Isle of Man telecoms services. More intriguingly Goshawk has made substantial progress towards the commercialisation of its hearing loss product.

Companies: Manx Telecom
  • 27 Jun 17

Machinations

We recently hosted our annual Industrial Technology dinner with 14 companies, many of which are active in the materials science arena; having focused previously on composite materials in the aerospace sector, in this edition of Machinations we focus on graphene, with its unique and potentially game-changing qualities and potential applications. Investments in this area remain fairly early stage, but could potentially reap huge rewards. Graphene is well represented in the UK small-cap market by several players.

Companies: SIXH DSCV AXS AMPH ALU AEP AVG CAPD CAR FENR FLO GINV GHH HDD HAYT IOF MPE RE/ RED RNO RBN SOM SCE TRI VANL ZAM TRT

  • 24 May 18

Strong performance from quality – 11 focus stocks

We have refreshed our quality style screen for the second time and report on style performance since the last refresh in October. Performance has been very strong, outperforming the small-cap index by c.1600bps (weighted basis) and c.1000bps (unweighted). There has been volatility with the market and this style has yet to be tested in a concerted down market, but in a flat or rising market quality appears to be a successful investment style in small-caps. We have highlighted 11 focus stocks in the new screen and will report back again on performance when we next refresh the screen in about 5-6 months’ time.

Companies: LIO GHT AMO CHH ZYT DOTD GTLY RIV FCRM TAM PAM

  • 26 Jun 18

Cenkos: Avanti Communications Group Plc - Hylas-4 orbiting for new business

The successful restructuring and launch of Hylas-4 has radically transformed Avanti. A new CEO is on-board and debt servicing is on a manageable footing. A new strategy will shortly be in place and early benefits are visible in the recent contract win with Viasat. We withdraw our forecasts until we have greater clarity on this strategy but continue to see a time soon when Avanti fully recovers its interest charge.

Companies: Avanti Communications Group
  • 02 Jul 18

H1 Review

Best Ideas - 2018 H1 Review

Companies: SAA VP/ GLE AMO IOM HSP CVSG EKF PGIT VRP RLM AVG SOG DNLM SFR YU/ CBP

  • 12 Sep 18

A record H1 and more expected in H2

H1 was a record half for revenue: £1.6m is 40% more than the whole FY 2017 due to success in India. Despite cost-cutting, it still resulted in a £3.1m adj. op. loss and a £2.7m cash outflow after receipt of £1.3m R&D tax credits, leaving net cash of £2.8m. The cost base was cut to just £4.4m in H1 (vs £6.4m in H2 LY) but management is confident of even greater sales growth in H2, largely on a shift of model towards licensing its technology. Although the strengthened management team retains confidence in the order book and its FY expectations on the back of a large licence fee, there are obvious concerns over the required working capital – an issue which management flagged earlier in the year – and this statement notes the need for funding in the next few months.

Companies: Cyanconnode
  • 03 Feb 15

Venture life helps the Chinese Aged, SQS gets on the Italian Job, what next for Next 15

DDDD placing, ABC acquisition, ABDP new contract win, BMK preliminary results, CYAN £1m order, EKF collaboration, EMIS contract award, FPM new exploration licences, FITB joins Jawbone, partners with Cancer Research UK and court case judgement, GFM production update, HAYT £3m secured loan note programme and contract win, LWRF preliminary results, NFC proposed placing and trading update, SQS acquisition, STAF full year results, VLG distribution deal .

Companies: DDDD ABC ABDP BMK EKF EMIS FPM GFM HAYT LWRF NFC SQS STAF VLG CYAN KIN

  • 07 Jul 17

Small Cap Breakfast

Altus Strategies—African focused natural resource Company. Offer TBC. Expected Mid July. Harvey Nash Group— Provider of professional recruitment and offshore solutions moving to AIM from Main. No capital to be raised. Mkt Cap c. £57.8m. AnimalCare—RTO of Ecuphar NV, a European animal health company. £30m raise. Ecuphar FY16 rev £68.4m, underlying EBITDA £8.9m. Due 13 July. Angling Direct -Schedule 1 from the specialist fishing tackle retailer in the UK . Raising £9m of which £7.4m new money. Mkt cap c. £27.4m. Due 13 July NEXUS Infrastructure—£35m vendor sale. Mkt cap £70.5m. Provider of essential infrastructure services to the UK housebuilding and commercial sectors. Expected 11 July. FYSep16 rev £135.7m. Greencoat Renewables - Schedule 1. Targeting a portfolio of operating renewable electricity generation assets, initially investing in wind generation assets in Ireland. Offer TBC. Due Mid July. QUIZ— Omni-channel fast fashion womenswear Company intention to float. Due July 2017. Offer TBA I3 Energy –Schedule 1 Update. Independent oil and gas company with assets and operations in the UK. Offer TBC, Mid July admission. Verditek— Sch 1 update. The Company's subsidiaries will be involved in advanced solar photovoltaic, filtration and absorption technologies specialising in providing environmental services. Issue price 10p. Admission late June Rockpool Acquisitions—Northern Ireland based Company seeking strong NI acquisition with an international outlook. Raising £1.5m at 10p. Due 5 July Hipgnosis Songs Fund investment company offering pure-play exposure to Songs and associated musical intellectual property rights. Prospectus yet to be published. Impact Investment Trust—Exposure to a diversified portfolio of funds providing SMEs across developing economies with the growth capital they need to have a positive impact on the lives of the world's poorer populations. Raising up to $150m at $1.00 Residential Secure Income - social housing REIT raising up to £300m Admission due c.12 July. Curzon Energy—Report on Proactive Investors of intended LSE float this year with acquisition of coal bed methane assets in Oregon. Looking to raise £3m plus. NLB Group—financial and banking institution based in Slovenia, with a network of 356 branches. Seeking Ljubliana Stock Exchange listing with GDRs on the LSE. Expected mid June. Kuwait Energy— has not been able to complete its initial public offering as announced in its Intention To Float of 3 May 2017. However, in light of positive feedback from potential investors, the Company remains committed to obtaining a London listing and continues to explore its options. Supermarket Income REIT– Up to £200m raise to acquire a diversified portfolio of supermarket real estate assets in the UK, providing long-term RPI-linked income. Due 21 July.

Companies: FUTR UKOG THR NSCI DX/ MAIS PHD LWLG COS

  • 27 Oct 17

Machinations

Highlights this quarter: Economics: Generally, the data points to modest growth continuing, with a more positive trend in PMI surveys suggesting decent m manufacturing momentum over the next six months. Currency weakness continues to be a double-edged sword for U K manufacturers, with exporters gaining competitiveness while input prices have risen. There has recently been a divergence of sterling’s performance against the euro and the USD. Those in commodity or competitive product areas may well have seen margin erosion, while many in intermediary goods have already passed on price increases to their customers. With low unemployment, the prospect of tighter labour markets post-Brexit and public sector pay caps starting to come off also signals the potential for some labour inflation, long absent from the UK industrial scene. Topic of the quarter: We believe that powerful macro and sectoral pressures will drive further significant changes to the manufacturing supply chain over the next few years. We investigate some of these pressures, with the move to outsource suppliers to low- cost centres, like China, now seeing a slight reverse flow with some restoring to shorten complex and often inflexible supply chains. We see systems technology facilitating greater supply-chain control and efficiency. Brexit will present challenges to the UK supply chain with price and time to market barriers likely to rise, presenting challenges to the UK’s highly integrated and time-sensitive supply chain. Slick distribution infrastructure and greater information sharing with suppliers are likely to prove winning strategies in optimising logistics and gaining stock efficiencies. Sector valuation: The industrials sector has continued to exhibit strength, with small-cap industrials outperforming by 2 % on last year and larger cap industrials by 17%. Currency and improving economic data have been a positive for the sector. While some other sectors have seen a pick-up in profit warnings over recent months, industrial technology companies have announced generally positive or in-line trading updates that have helped to drive the small-cap Industrials to an EV EBITDA of 8.4x and a P/E of 16.7x with the traditional small-cap discount narrowing.

Companies: SIXH DSCV AXS AMPH ALU AEP AVG CAPD CAR FENR FLO GINV GHH HDD IOF MPE RE/ RNO RBN SOLI SOM SCE TRI VANL VEL ZAM TRT

  • 16 Mar 18

Top-line growth set to drive margin expansion

Spirent’s results last week showed good traction from the group’s strategic growth areas (Lifecycle Service Assurance and Application Security), which combined with effective cost control, resulted in strong earnings growth and excellent cash generation. The group remains heavily H2 weighted, but we believe it is well placed to deliver a long awaited return to top-line growth going forwards. With gross margins remaining strong and management maintaining a tight grip on costs, we expect the growth to result in continued margin expansion across our forecast period. We make significant upgrades to all forecast years and increase our target price to 139p. Buy.

Companies: Spirent Communications
  • 19 Jun 18

Slow uptake hits FY17A; moving to No Rating

Ethernity reported FY17A revenues of US$1.52m, -30% YoY. The decline was attributed to significant customers either reducing or changing the nature of their business with Ethernity, and the slippage of Ethernity’s customers’ clients’ purchasing decisions (i.e. one step removed and outside the scope of the group’s control). Altogether, the impact was c.US$1.5m, partially offset by three new contracts secured in FY17A. Revenues undershot Arden estimates by 29%, primarily due to the reversal of a US$225k contract and others totalling a further c.US$270k.

Companies: Ethernity Networks
  • 27 Jun 18

AGM update; trading remains challenging but anticipated outturn unchanged

Walker Greenbank (WGB) – Corporate – AGM update; trading remains challenging but anticipated outturn unchanged | UK Oil & Gas (UKOG) – Corporate – HH-1 Testing to Commence | i3 Energy (I3E) – Corporate – Grant of exclusivity to a potential farminee | Cadence Minerals (KDNC) – Corporate – Earn in into advanced lithium project in Zimbabwe

Companies: WGB UKOG I3E KDNC

  • 25 Jul 18

Some relief in India

Q1 revenues declined by 2.1% yoy but this includes a 2.8% negative impact from forex and a 0.8% adverse impact from the disposal of Vodafone Qatar. On an organic basis, service revenue was quite as expected, increasing indeed by 0.3%. A number slightly lower than the 1.4% recorded in Q4 which still reflects strong growth in AMAP, but which was mitigated by a decline in Europe driven by the drag from UK handset financing and the EU roaming regulation. Excluding these factors, Europe grew by 0.5% yoy: a correct number but nothing more. AMAP grew by 7.0% yoy, as in H2 2017/18, with growth that was faster than local inflation in South Africa, Turkey and Egypt. Although Indian revenues (not consolidated) declined by 22.3% yoy due to price competition and MTR cuts, note that it was down by only 1.4% compared to Q4, reflecting finally an appreciated stabilisation. The full-year guidance was reiterated. The group expects EBITDA growth of 1-5%, excluding the impact of UK handset financing in both years, and the significant benefit in the prior year from regulatory settlements in the UK and a legal settlement in Germany.

Companies: Vodafone Group
  • 03 Sep 18

Another impressive performance

Gamma has reported another half year of strong growth. In particular, Cloud PBX and SIP Trunking continue to shine. The Group’s performance underlines the success of its focus on supporting its channel partners and driving the direct business in the direction of larger enterprises and public sector customers on longer term contracts. Gamma is building a good pipeline of new business and a number of product launches and updates are planned for the second half. The reported numbers reflect the adoption of IFRSs 9, 15 and 16. As previously flagged, in combination (but predominantly IFRS 15) they reduce EBITDA but leave adjusted EPS relatively unaffected. The decision to treat share-based payments as a non-adjusting item means that there is some impact on Adjusted EPS from that source, though. Prior year numbers have been restated to give a like-for-like comparison. We adjust our estimates for the healthy growth in the business and to reflect the accounting standards that Gamma has adopted and the treatment of share-based payments. Our estimates remain conservative, in our view, and we look forward to further positive trading news.

Companies: Gamma Communications
  • 04 Sep 18

Interims suggest recovery is on course

Telit has had a good half, showing it is on course for a long-awaited recovery under its restructured management team. Trading has been encouraging; exhibiting double-digit organic revenue growth, notably in IoT Cloud & Connectivity services, while its gross margins are now stabilising. This delivered adj. EBITDA of $12.5m compared with $3.3m in its troubled H2 LY. A sharp focus on working capital saw positive FCF of $3.1m in H1, compared with a c.$50m outflow across 2017. Net debt fell to $25m and in H2 the $105m sale of the automotive business will further improve margins while underpinning the balance sheet. We ease our FY 2018 earnings forecast for higher D&A and interest charges; however, we maintain revenue and underlying earnings expectations and expect a stronger cash position at the year end. We now set an initial TP of 200p for the stock.

Companies: Telit Communications
  • 11 Sep 18

CyanConnode - Interim Results 2018

cyanconnode-interim-results-2018-11-09-2018
  • 21 May 18

CyanConnode - Significant Order

cyanconnode-significant-order-21-05-2018
  • 19 Sep 18

CyanConnode - $11.6m order from India

cyanconnode-11-6m-order-from-india-19-09-2018
  • 21 May 18

CyanConnode - 2017 Full Year Results

cyanconnode-2017-full-year-results-21-05-2018
  • 14 Jun 16

Cyan Holdings - Acquisition and Fund Raising

cyan-holdings-acquisition-and-fund-raising-14-06-2016
  • 01 Dec 17

Capital Network's Ed Stacey on Gamma Communications Plc

capital-network-s-ed-stacey-on-gamma-communications-plc-01-12-2017
  • 22 Jul 16

Cyan Holdings - Analyst interviews, Beaufort Securities

cyan-holdings-analyst-interviews-beaufort-securities-22-07-2016
  • 20 Sep 17

CyanConnode - $29m new purchase order for smart metering in the Ukraine

cyanconnode-29m-new-purchase-order-for-smart-metering-in-the-ukraine-20-09-2017
  • 30 Jan 18

Filtronic - Company Overview

filtronic-company-overview-30-01-2018
  • 13 Jul 17

CyanConnode - Trading Update

cyanconnode-trading-update-13-07-2017
  • 01 May 18

Adept (ADT) presentation at Mello Derby 2018

adept-adt-presentation-at-mello-derby-2018-01-05-2018
  • 06 Jul 17

CyanConnode Holdings PLC - New $1.1m purchase order from India

cyanconnode-holdings-plc-new-1-1m-purchase-order-from-india-06-07-2017
  • 30 Jun 17

UK Oil & Gas Investments - Summary of Broadford Bridge Conventional Oil Opportunity

uk-oil-gas-investments-summary-of-broadford-bridge-conventional-oil-opportunity-30-06-2017
  • 15 Jun 17

CyanConnode - Smart metering order in Bangladesh

cyanconnode-smart-metering-order-in-bangladesh-15-06-2017
  • 09 Mar 17

AdEPT (ADT) update Sharesoc Richmond March 2017

adept-adt-update-sharesoc-richmond-march-2017-09-03-2017

Latest Content

Cyanconnode

CyanConnode - $11.6m order from India

 View

cyanconnode-11-6m-order-from-india-19-09-2018
  • 19 Sep 18

CYAN SSY NAH

Morning Note – 18 September 2018

CyanConnode (CYAN): Corp Omnimesh order helps underpin forecasts | NAHL (NAH): Corp Managing the transition | SCISYS (SSY): Corp TFL order underpins revenue expectations

 View

  • 18 Sep 18
  • -
  • -

mVISE

mVISE - Focus on digital transformation and synergies

In recent quarters mVISE has completed the acquisition of a consulting team from SHS Viveon and the sale of loss-making workforce management software business Just Intelligence (JI). These have increased mVise’s ability to derive synergies from within the group and its focus on its core business of digitisation transformation. In H118, helped by increased consulting rates, the group was also able to report a 78% y-o-y increase in revenue and 50% margin expansion leading to a 1.6x y-o-y increase in EBITDA. We see good grounds for a continuation of favourable results in H2. Currently, mVise shares trade at a 24% discount to its two most profitable consulting-oriented peers on FY2 EV/EBITDA multiples. We believe this shows strong upside potential given the group’s growing exposure to the much more highly rated software products segment.

 View

  • 18 Sep 18
  • -
  • -

MDZ VRE FST ING TUNE SSY RM2 CYAN JDG EML

Small Cap Breakfast

Green Man Gaming—pure play e-commerce and technology company in the digital video games industry. revenue CAGR growth of 26.7% in the last three years to £47.5m. Due 28 Sep. EBITDA Profitable. Offer TBA Crossword Cybersecurity PLC* (NEX:CCS)—the technology commercialisation company focusing exclusively on the cyber security sector is exploring its options in relation to a potential move to the AIM market of the London Stock Exchange which, if it were to proceed, would likely take place over the next few months. Path Investments (PATH) -RTO of a 50 per cent. participating interest in the producing Alfeld-Elze II gas field located 22 kilometres south of Hannover in Germany. Seeking £10m. Offer TBA. Due Mid September Kropz PLC-Intention to float by the emerging plant nutrient producer with an advanced stage phosphate mining project in South Africa and exploration assets in West Africa Breakfast Buffet

 View

  • 18 Sep 18
  • -
  • -

Manx Telecom

LIBERUM: Manx Telecom* - Solid H1’18, Goshawk deal with EE

Manx H1’18 results show further resilient delivery across the range of Isle of Man telecoms services. More intriguingly Goshawk has made substantial progress towards the commercialisation of its hearing loss product.

 View

  • 12 Sep 18
  • -
  • -

Cyanconnode

A record H1 and more expected in H2

H1 was a record half for revenue: £1.6m is 40% more than the whole FY 2017 due to success in India. Despite cost-cutting, it still resulted in a £3.1m adj. op. loss and a £2.7m cash outflow after receipt of £1.3m R&D tax credits, leaving net cash of £2.8m. The cost base was cut to just £4.4m in H1 (vs £6.4m in H2 LY) but management is confident of even greater sales growth in H2, largely on a shift of model towards licensing its technology. Although the strengthened management team retains confidence in the order book and its FY expectations on the back of a large licence fee, there are obvious concerns over the required working capital – an issue which management flagged earlier in the year – and this statement notes the need for funding in the next few months.

 View

  • 12 Sep 18
  • -
  • -

Cyanconnode

CyanConnode - Interim Results 2018

 View

cyanconnode-interim-results-2018-11-09-2018
  • 11 Sep 18

ALU CYAN K3C STM

Morning Note – 11 September 2018

Alumasc (ALU): Corp Full-year results in line | CyanConnode (CYAN): Corp A record H1 and more expected in H2 | K3 Capital (K3C): Corp Unstoppable market leader proves new model works | STM (STM): Corp Skilled results

 View

  • 11 Sep 18
  • -
  • -

AIR PAF G4M ENET AAOG RM2 IMM PTEC ENQ THRL

Small Cap Breakfast

Green Man Gaming—pure play e-commerce and technology company in the digital video games industry. revenue CAGR growth of 26.7% in the last three years to £47.5m. Due late Sep. EBITDA Profitable. Offer TBA Crossword Cybersecurity PLC* (NEX:CCS)—the technology commercialisation company focusing exclusively on the cyber security sector is exploring its options in relation to a potential move to the AIM market of the London Stock Exchange which, if it were to proceed, would likely take place over the next few months. Path Investments (PATH) -RTO of a 50 per cent. participating interest in the producing Alfeld-Elze II gas field located 22 kilometres south of Hannover in Germany. Seeking £10m. Offer TBA. Due Mid September Kropz PLC-Intention to float by the emerging plant nutrient producer with an advanced stage phosphate mining project in South Africa and exploration assets in West Africa

 View

  • 07 Sep 18
  • -
  • -

CORO GINV QUIZ IMMO AVG PHP KNOS HYNS IDEA BST

Small Cap Breakfast

Green Man Gaming—pure play e-commerce and technology company in the digital video games industry. revenue CAGR growth of 26.7% in the last three years to £47.5m. Due late Sep. EBITDA Profitable. Offer TBA Crossword Cybersecurity PLC* (NEX:CCS)—the technology commercialisation company focusing exclusively on the cyber security sector is exploring its options in relation to a potential move to the AIM market of the London Stock Exchange which, if it were to proceed, would likely take place over the next few months. Path Investments (PATH) -RTO of a 50 per cent. participating interest in the producing Alfeld-Elze II gas field located 22 kilometres south of Hannover in Germany. Seeking £10m. Offer TBA. Due Mid September Kropz PLC-Intention to float by the emerging plant nutrient producer with an advanced stage phosphate mining project in South Africa and exploration assets in West Africa

 View

  • 05 Sep 18
  • -
  • -

Real-time access to the latest equity research, for the first time.

📑🔎📊📈

Historically, Private Investors have had access to significantly less professional investment research and information than institutions, funds, and banks. At Research Tree, we're trying to level that playing field by aggregating the latest equity research & video content from over 400 analysts at 35+ City brokerages and research houses in one platform. 

 

Our goal is simple: provide retail and institutional investors with full access to the latest valuations, target prices, analysis, and financial models on the companies they care about, in real-time.

 

Our Partners

🏛

Research Tree aggregates the latest equity research from over 400 analysts at 35+ City brokerages and research houses in one platform, giving users full access to the latest valuations, target prices, analysis, and financial models on the companies they care about, in real-time.