Brokers' take
Asian Pay Television Trust | Buy Target price: S$0.64 May 16 close: S$0.55 Phillip Securities Research, May 16
FIRST-QUARTER 2017 revenue and Ebitda (earnings before interest, taxes, depreciation and amortisation) were within our estimates. However, several non-cash items negatively affected headline earnings, namely forex and derivative loss.
Both were the result of a stronger Taiwan dollar. We are lowering our earnings by 18 per cent to incorporate these non-cash items. No change to our cash-flow assumptions or target price. Dividend guidance of 6.5 cents annually (paid 1.625 cents per quarter) has been maintained.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
UBS weighs synthetic risk transfer amid capital boost proposals
Oil settles higher on supply concerns in the Mid-East, economic woes subdue gains
S-Reits falter as investors weigh possibility of zero rate cuts in 2024
CapitaLand Investment posts total revenue of S$650 million for Q1
Europe: Stoxx 600 logs best day in three months as banks shine
US: Stocks rally after strong tech results