Telecoms

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.

19 Jun 17

Solid trading update

Filtronic, the designer and manufacturer of microwave electronics for the wireless telco market, announced last month (12th May) that trading was ahead of expectations and we raised our FY17 PBT forecasts by 36.5%. This morning Filtronic has issued a follow-up trading update, providing additional detail. The last 12 months were undoubtedly a watershed period for the business, with revenues jumping from £13.6m in FY16 to £35.4m in FY17 (driven by Filtronic Wireless). In terms of new news, cash flows were stronger than expected and the business ended with net cash of £2.6m (PG forecast £1.2m vs net debt of £0.3m May-16).

Companies: Filtronic

10 Apr 17

AIM JOURNAL

BlackRock Smaller Companies Trust is considering ending the restriction on AIM investment in its portfolio. Currently, the trust is not allowed to invest more than 40% of its portfolio value in AIM-quoted companies. If the required consents and regulatory approvals are received, a resolution may be put forward at the annual general meeting in June. Vets practices owner CVS is currently the largest investment in the trust’s portfolio and wound management firm Advanced Medical Solutions is also in the top ten. The rest of the top ten are fully listed companies. The best performer in February was telematics equipment and services provider Quartix. BlackRock is considering this change at a time when the Small and Mid-Cap Investors Survey 2017 suggests that there is a positive change in attitude towards AIM. Overall, investors believe that AIM is better than it has ever been. The average size of companies continues to rise and this is taken as an indication of maturity but there is still concern about the lower end of the market. There is little pressure on AIM companies to move to the Main Market even if they are relatively large for AIM. There are currently eight companies on AIM valued at more than £1bn, accounting for around one-sixth of the total market value of AIM.

Companies: MANX INS FRAN ACSO NAH GMAA TCM

24 May 17

FY17 Trading Update. Target Price Raised to 360p.

In its April 4 Trading Update for the year to 31 March 2017, AdEPT reported that FY17 EBITDA (underlying) rose 26%YoY, indicative of £7.8m, which is 6% above our outlook of £7.3m. Revenue for the year is reported up 16%, indicative of c£34.0m. We note the dilutive effect on projected FY18 EPS of the exercise of warrants by Barclays Bank plc on March 16, resulting in the issue of 1,204,707 shares and a cash inflow of £129,000.

Companies: Adept Telecom

27 Mar 17

The Joy of Techs

Enterprise-focused niche applications of tech illustrate how, while trends appear to be fluctuating away from the current poster children of fintech and the Internet of Things, in fact these developments are refining appropriate application of existing technologies.

Companies: 7DIG AMO ARTA BVC BOTB CTP CFHL ISL DTC DOTD ELCO ESV FDSA FDEV GBG IDEA IDOX IMTK IGP IOM KBT KCOM KWS LRM MAI MMX NASA NET ONEV PHD QTX QXT RCN 932 SSY SEE SIM SPE TAX TEP TPOP TRAK UNG VIP ZOO

07 Jun 16

The Cybersecurity Rebellion: “No, I’m Spartacus!”

Steve “Woz” Wozniak, infamous co-founder of Apple, was the latest culprit to send shivers across the tech world by claiming Cybersecurity is the greatest threat the world has faced since the atom bomb. Mr Wozniak was alluding to the heightened sense of fear that recent high profile breaches have caused Cybersecurity to be put at the forefront of political, corporate and now it would appear, investor agendas. As the topic gains increasing awareness, it gives rise to a number of companies claiming to be a “thought leader” in the Cybersecurity space, holding the best IP and the best routes to market. With many companies singing from the same loss making hymn sheet it is making it ever difficult to spot the true “Spartacus” from the crowd.

Companies: BA/ BVC BLTG CHRT CLST CNS DFX ECK EXPN GBG IGP MPAY NCC OSI SCH TERN

06 Jun 17

N+1 Singer - Amino Technologies - Another strong period

Amino has released a good trading update for the six months to May’17. The group carried strong momentum into the period, having delivered four upgrades in a row in FY’16. This strong momentum has been maintained, with revenue expected to be c.£40m in H1’17 (48% of our FY expectations, versus a traditional 45:55 weighting). Net cash is significantly ahead of our expectations at £13.1m (N+1se: £9.1m). We expect the strong performance to continue into H2’17, but with new products expected to lower margins in the short term, we prudently leave our forecasts unchanged at this time. The shares trade on a Dec’17 PER of 14.9x and yield 3.2%. We believe this remains attractive for a highly cash generative business which is very well placed to meet the changing demands of its end markets. We increase our target price to 243p (from 215p) and retain our Buy recommendation.

Companies: Amino Technologies

15 Jun 17

CyanConnode - Smart metering order in Bangladesh

17 Mar 17

CyanConnode - New funding round announced

14 Jun 16

Cyan Holdings - Acquisition and Fund Raising

21 Nov 16

CyanConnode - Update at 121 Tech Investment

16 May 17

CyanConnode - Final Results

01 Mar 16

AdEPT Telecom - ADT - Investor presentation ShareSoc Richmond 1.3.16

06 Feb 17

CyanConnode Holdings - New purchase order from HM Power

09 Feb 16

Cyan Holdings - Purchase order for smart metering in Iran

05 Oct 16

CyanConnode - JST Thailand increases strategic investment

21 Jan 16

Cyan Holdings - Follow on order from Tata Power Mumbai

06 Jun 16

Cyan Holdings - Full year results 2015

15 Dec 15

CityFibre - Analyst interview, finnCap

Premium

10 Mar 16

Executive Interview - Spirent

30 Nov 15

Cyan Holdings - Significant new order for public utility smart metering project in India

06 Jul 16

Cyan Holdings - Trading update 2016

Latest Content

Deutsche Telekom

Consolidation process accelerates

According to the latest news/rumours, Sprint, the US wireless company, is in talks with Charter Communications Inc. and Comcast Corp. about a partnership. The two cable companies want to boost their wireless offerings. It is reported that Sprint has entered into a two-month period of exclusive negotiations with Charter Communications and Comcast. The merger talks with T-Mobile US are on hold until the end of July. Charter Communications and Comcast already agreed last month that they would not do deals in the wireless space for a year without each other’s consent. The two companies already have agreements in place with Verizon to sell wireless services.

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27 Jun 17
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Machinations

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27 Jun 17
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Filtronic Concurrent Technologies

TMT Update 26.06.17 (FTC.L, CNC.L)

Filtronic plc (FTC.L, 12p/£23.9m) Update: FY in line and growth in pipeline | Concurrent Technologies plc (CNC.L, 83.0p/£60.2m) Meeting with management and product launch

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26 Jun 17
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The People'S Operator

People's Operator falls 46% on finals, finnCap downgrades target price to 20p

finnCap reduced its TP to 20p, saying it looked forward to progress and further cost control, expecting profitability in the H218

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22 Jun 17
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TPOP FDEV FDI

Morning Note |

The People’s Operator* (TPOP): Prelims (CORP) | Frontier Developments* (FDEV): FY trading update and release of forecasts (CORP) | Firestone Diamonds (FDI): Operations and financial update (BUY)

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22 Jun 17
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MAFL OTC SOLO XTR CYAN

Breakfast Today

"US equities yesterday enthusiastically reversed the declining trend of the past week, taking the S&P-500 and Dow Jones to new record highs, while the recently punished Nasdaq chalked up the largest rise as bargain hunters searched for oversold situations. Apple, for example, made a good recovery after having declined for the previous six sessions. Closing at their best levels of the day, buying confidence was clawed largely from a display of strength amongst overseas markets whose foundations had been established during early morning trade in Asia. A prediction from New York's Federal Reserve President, William Dudley, that the current inflationary pause will eventually give way to higher wages within a tightening labour market, pushing it back closer to the Central Bank's 2% target, also helped boost confidence. Steel stocks were a feature, climbing further off the seven-month low it set last Thursday, at one stage driving the NYSE Arca Steel Index up as much as 2.1%. This particular rally followed Commerce Secretary Wilbur Ross telling Bloomberg that President Trump intends to take "bold action" to address the national security risks posed by steel imports. Semiconductor, biotechnology, and banking stocks also found good buying interest, moving higher along with most of the other major sectors. Inevitably enough, Treasuries pulled back into negative territory, countering initial strength and lifting the yield on benchmark ten-year notes up by 2.7 basis points at 2.178%. The Nikkei Stock Average jumped almost 1% this morning to a fresh 22-month high as the yen fell, though other Asia-Pacific markets were quietly mixed. Following broad gains Monday, for example, South Korea's Kospi and Hong Kong's Hang Seng eased fractionally, while Australian traders took profits on recent S&P/ASX 200 gains, while the Shanghai composite was all but unchanged. Oil prices were slightly higher in Asia after hitting fresh seven-month lows in New York, with investors doubting how effective the production cuts being led by by Saudi Arabia and Russia can actually be. European markets also put in a good performance on Monday, led by led by industrials, oil & gas and basic materials stocks. The STOXX Europe 600 rose 0.89%, scoring its biggest one-day percentage gain since April 24 after French President Emmanuel Macron's upstart party scored a strong majority during Sunday's parliamentary elections, even if they were marked by a record low voter turnout. Presently riding on a high, he is expected to table his least popular, business friendly reforms within his first 100 days, in order to gain international respect which, by this time next year, should have translated into stronger economic growth. This sentiment reflected in strong performances by both the CAC-40 and Xetra Dax, which led equity gains around the Bloc. UK shares fully participated yesterday, despite a nervous trading environment created by the start of Brexit negotiations. Traders were not deterred by the latest terror-related incident in North London, but warmed to increased anticipation that a softer, more business-friendly Brexit will be the eventual outcome. As a result, the FTSE-100 enjoyed its best session since 9th June, finding demand in the same sectors that lead the European indices, while retailers also staged a good recovery after having been excessively sold on Friday in response to Amazon's proposed acquisition of Whole Foods market Inc. Although the UK is not scheduled to release any major macro statistics today, both the Governor of the Bank of England, George Carney, and the Chancellor of the Exchequer, Phillip Hammond, are scheduled to make speeches at a Mansion House breakfast event commencing at 08:30hrs BST, after the latter had been forced to delay setting out his view on the UK economy at last week's annual dinner in response to the tragic tower block fire in Kensington. Traders in particular will be keen to hear anything more regarding the opportunity for the UK and US to establish a free-trade agreement following Liam Fox's the joint appearance with Wilber Ross yesterday at a US government-run investment conference just outside Washington, although such a bilateral agreement clearly cannot be concluded until the UK is no longer part of the European Union. The EU is due to publish its April Current Account data, while the US offers the same statistic for Q1'2017, Weekly Redbook and API Crude Oil Stocks; speeches are also scheduled from the Fed's Stanley Fisher and FOMC's Robert Kaplan. The UK reporting season is now slowing, so there are fewer scheduled earnings or trading updates to anticipate; just Wolseley (WOS.L), N. Brown Group (BWNG.L), RWS Holdings (RWS.L) and Accsys Technologies (AXS.L) are due this morning. Overall, however, European equities appear set to open in an upbeat mood once again this morning, although gains will be limited after yesterday's strong movement. The FTSE-100 is seen moving between flat and 10 points up in early trading."