Mti Wireless Share Price (MWE)

I just intend to take dividend next week and put these back into the bottom drawer. These are diffilcult days to try and play the market..

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.

Shore Capital reiterate their 80p target today, and conclude as follows:

"Outlook and valuation:

As highlighted above 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 as illustrated by today’s contract win is well-placed in defence as well as for the rollout of 5G in India, in particular. 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)."

This morning's $1.2m repeat contract win for military antennas is good news for this year's figures, but perhaps even more interesting is this comment:

"We see more opportunities in this specific area of conformal antennas, some for new development projects and some for use in existing products, but all resulting in our technology being used in more applications"

Https://uk.advfn.com/stock-market/london/mti-wireless-edge-MWE/share-news/MTI-Wireless-Edge-Limited-Contract-Win/93584016

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:

Https://wp-allenby-2020.s3.eu-west-2.amazonaws.com/media/2024/03/20240311-MTI-Wireless-Edge-Ltd-MWE.L-Allenby-Capital-Finals.pdf?c4076=on