|Bid||0.00 x 4000|
|Ask||0.00 x 1300|
|Day's Range||10.51 - 10.63|
|52 Week Range||7.32 - 17.33|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||7.05|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||13.78|
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Banque de Tunisie and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
There are several ways to beat the market, and investing in small cap stocks has historically been one of them. We like to improve the odds of beating the market further by examining what famous hedge fund operators such as Jeff Ubben, George Soros and Carl Icahn think. Those hedge fund operators make billions of […]
The price action for the last two months is a perfect representation of the opportunity and risk behind Nokia (NYSE:NOK). On one hand, you have the societally and economically transformative potential of the 5G network bolstering the longer-term argument for Nokia stock. But on the other hand, fundamental and competitive risks cloud that narrative.Source: RistoH / Shutterstock.com In July of this year, I voiced my doubts about Nokia stock. Primarily, I cited the lack of technical enthusiasm as a risk factor. Although the company has been wheeling and dealing, securing contracts with big players like China Mobile (NYSE:CHL), Sprint (NYSE:S), T-Mobile (NASDAQ:TMUS) and BT Group (NYSE:BT), the enthusiasm had failed to reflect themselves into the equity value. As a result, NOK stock has been rangebound since the spring of 2016. Naturally, this doesn't inspire confidence. * 7 Triple-'F' Rated Stocks to Leave on the Shelf However, I was quickly proven wrong. In Nokia's second quarter of 2019 earnings report, the telecom firm produced a surprising beat. While consensus forecasts called for earnings per share of 0.03 euros, NOK delivered 0.05 euros. Moreover, the company generated $6.34 billion in revenue, up 7% from the year-ago quarter.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAfter the disclosure, the Nokia stock price skyrocketed (though not enough to break NOK out of its 3-year trading range).But it wasn't just the print that satisfied investors. In past years, Nokia's business along with the competition soured after 4G network sales peak. But with the 5G rollout, the new technology offers a fresh cycle for telecom firms. That's what Nokia's results confirmed, justifying the spike in NOK stock.Still, the bullishness was short lived. Nokia stock plummeted and has only recently started to look alive. So, which narrative is going to win out? Tailwinds for NOK Stock Are Interesting, but so Are the RisksUndoubtedly, the 5G narrative for NOK stock is alluring. As InvestorPlace contributor Theodore Kim pointed out, we're in the early stages of a global rollout. As he put it:The market for 5G will likely not take off until 2020. But when it does, users across the globe will need a brand new 5G standard smartphone. Carriers will sink billions into new 5G equipment. And Nokia will be positioned front and center in offering the new hardware across the globe.As a standard is established for this next-generation tech, only Nokia and Huawei will find themselves with comprehensive product and service solutions. But as we all know, Huawei is at the heart of a security debate that has underlined the U.S.-China trade war. The U.S. accuses Huawei of being a conduit for China-sponsored espionage.Of course, that benefits NOK stock, at least on the public relations front. No one is accusing the company of any such breach of trust. More importantly, this controversy gives Nokia an opportunity to work some uncontested deals.But the problem here is that they're not uncontested. Yes, 5G is a transformative innovation, one that augurs well for NOK stock. But it also provides the same opportunities for the competition. For example, regional rival Ericsson (NASDAQ:ERIC) isn't going to stand by and let Nokia have all the fun.From a share price perspective, both telecom stocks have similar dynamics, largely going rangebound over the last few years. Both are eager to capitalize on the 5G rollout. As such, a risk exists that the two will engage in a price war, which would hurt profit margins.Plus, a recession in Europe would exacerbate this possible contentious situation. 5G Isn't Exactly PerfectAlthough I'm bullish on many companies that are levered to the 5G rollout, it's important to realize that it's not a panacea for underperforming organizations.While the tech generates excitement, the rollout itself has been somewhat slow. A big part of that is the expense involved in upgrading equipment to accommodate the new signals. Also, because the 5G waves are shorter and more intense, they require different cell infrastructure compared to 4G.Ironically, another costly factor is security. With or without Huawei, 5G requires advanced network safety protocols. That eats into profitability, negatively impacting companies that are fiscally sensitive.Overall, though, you cannot dismiss the excitement factor of the rollout. Thus, we could very well see the kind of momentum that lifted Nokia stock following Q2. But it's also fair to bring up the long-term wildness in NOK. It really hasn't earned investor trust. * 7 Worst Stocks in the S&P 500 in 2019 Therefore, if you want to speculate on the emotions of 5G -- and not necessarily its fundamentals -- I must say that shares look interesting. That said, do make sure to pocket profits. The longer-term charts tell us that this will probably not be an easy ride.As of this writing, Josh Enomoto did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Triple-'F' Rated Stocks to Leave on the Shelf * 10 Excellent Stocks to Watch for 2020 and Beyond * 7 Consumer Stocks to Buy in an Uncertain Market The post Is 5G a Tailwind or a Headwind for Nokia Stock? appeared first on InvestorPlace.
(Bloomberg) -- Boris Johnson promised to bring fiber broadband to every U.K. home by 2025 in his bid for the most important job in the land. Now comes the difficult part.To have any chance of success, the Prime Minister must first convince telecommunications executives there is a profit opportunity.“The productivity of the nation isn’t in my business case,” Philip Jansen, chief executive of former state monopoly BT Group Plc, said last month.The government will step up the pressure later on Thursday when the Digital Secretary Nicky Morgan gathers the heads of Britain’s broadband building companies at her Westminster office. The talks are expected to focus on how to reach Johnson’s accelerated infrastructure target, including a timeline for switching off older networks, according to people briefed on the closed-door meeting.So-called full fiber can deliver data ten times faster than copper lines. Currently in the U.K., fiber lines carry data over long distances to a neighborhood box, and copper lines connect the box to nearby homes. BT has drawn up proposals for switching off copper networks by 2027, Sky News reported late Wednesday.The U.K. badly lags European neighbors in full fiber, which reaches only 8% of British premises compared to about 90% of homes in Portugal and 70% in Spain.The reason is a combination of political will and local circumstances.A study commissioned last year by British officials suggested that Spain’s dominant phone company, Telefonica SA, opted for a faster fiber network build than U.K. counterpart BT as it faced greater competitive pressure to secure a speed advantage over rivals. A law has obliged construction firms to include fiber ducts in new buildings since 2000, so millions of residents were connected cheaply and quickly.In the U.K., fewer people live in apartment blocks, driving up installation costs. A similar construction law has been drafted for Britain, but the political disruption around Brexit has delayed its ratification.Then there’s the challenge of turning a profit on the investment. If consumers get fiber, will they all pay for it, especially now that advances in copper technology can squeeze more data through the same pipes?“For the foreseeable future, speeds are more than adequate for household needs,” said James Ratzer, an analyst at New Street Research. He also said more than half of the U.K. has access to ultrafast cable from Liberty Global Plc’s Virgin Media, and yet that company is losing broadband customers."BT is keen to see the industry work together with government on the big challenges – such as digital switchover and rural coverage,” a BT spokesman said by email.Were a date to be fixed for shutting off copper networks, that would remove the risk that BT is forced to pay for fiber buildout without being assured that customers will switch to the faster network. Building RightsThe fiber goal can’t be reached without BT, whose CEO Jansen has said he’s up for the challenge as long as the industry can get hold of 30,000 extra workers to dig up roads and the government scraps planning rules to give carriers build rights now enjoyed by water and power utilities.There are signs the government is softening its message to avoid a clash. Johnson more recently pledged a “gigabit” target instead of “full-fiber,” an acknowledgement that other technologies like 5G wireless networks could be used to deliver faster internet.The government “wants to deliver world-class, gigabit-capable digital infrastructure across the country and will announce further details on how we will achieve this as soon as possible,” a spokesman for Morgan said.Officials and lawmakers hoping to speed things up have been distracted by Brexit, while Johnson’s decision to suspend Parliament cuts down the already small amount of time to push through legislation.Churn at the top of government hasn’t helped: Morgan is the fourth person to hold her post in two years and the growing prospect of another national election means yet more uncertainty.(Updates with context and company comments from fourth paragraph.)\--With assistance from Rodrigo Orihuela.To contact the reporter on this story: Thomas Seal in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Thomas Pfeiffer at email@example.com, Jennifer RyanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Looking at BT Group plc's (LON:BT.A) earnings update in June 2019, analyst consensus outlook seem pessimistic, with...
Britain will make a decision on whether to allow China's Huawei equipment to be used in its 5G networks in the autumn, the digital minister Nicky Morgan said. "We've got to make sure that this is going to be a decision for the long term, making sure that we keep all our networks secure." (Reporting by Kate Holton.
Britain on Monday postponed a decision on whether Huawei could participate in building next-generation 5G mobile networks until it had a clearer picture of the impact of U.S. measures taken against the Chinese company. "These measures could have a potential impact on the future availability and reliability of Huawei's products, together with other market impacts, and so are relevant considerations in determining Huawei's involvement in the network," Digital Minister Jeremy Wright told parliament.
Back in late May, yours truly suggested the 5G opportunity Nokia (NYSE:NOK) has ahead of it made NOK stock a buy. The 37 commercial 5G contracts Nokia had inked at the time was lighting the path ahead for Finland's telecom-tech giant, despite the fact that NOK was still facing its share of headaches.Source: Shutterstock In the meantime, the figure has been ramped up to 42 contracts. * 10 Best Dividend Stocks to Buy for the Rest of 2019 and Beyond But that early-June news did nothing to bolster beaten-down Nokia stock. However, a rebound of NOK stock may be in the works. The comeback is just going to take some time to pan out, as NOK does indeed appear to have become a "show me first" stock.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe show is coming. Setting the StageOne of the 42 5G deals that NOK has received was with Taiwan Star Telecom, which is growing its existing network to prepare for 5G service. It was the "off the shelf," complete nature of Nokia's portfolio that made NOK the easy choice for TST.China Mobile (NYSE CHL) confirmed at last month's Mobile World Congress that it would be the first to utilize Nokia's Massive MIMO solution, laying the ground work for its 5G network. China Unicom (NYSE:CHU) announced on Wednesday that Nokia's optical fronthaul hardware would help usher in its foray into 5G. Sprint (NYSE:S), T-Mobile (NASDAQ:TMUS) and BT Group (NYSE:BT) are all also tapping Nokia for help on the 5G front.Given NOK's confirmed 5G contracts, CEO Rajeev Suri's June comment that his company wins "two-thirds of the time" when competing with rival Ericsson (NYSE:ERIC) for new business isn't a tough idea to believe. His company is making new deals at a pace Ericsson has somehow been unable to keep up with.But that just hasn't mattered to investors, who ultimately dictate the price of NOK stock. Slow Moving, But Not That SlowWhen Nokia's CEO, Suri, commented in May that "5G is not the future anymore. It is here, and Nokia is leading it. We are winning deals and rolling out some of the world's first 5G networks" he didn't necessarily mean that NOK was literally in the process of rolling out 5G networks.For that matter, he didn't mean that it would launch the networks during that week or month. It can take several weeks -- if not months -- just to put the new hardware in place and put it into operation. In some cases, the installations called for by inked contracts likely aren't even scheduled to happen until next year.Revenue from such deals can't be booked yet, of course, and none has been. NOK made that point in conjunction with its Q1 report, and Suri reiterated it last month. The publicly available details of those contracts are minimal, at best; NOK doesn't divulge the specifics of deals it makes, nor should it.With 42 contracts in hand, however, analysts and investors alike are arguably underestimating how much revenue is in its pipeline for the latter part of this year and all of next year.Meanwhile, NOK will sign additional 5G deals, which aren't factored into most analysts' estimates.Analysts' alarmingly anemic average estimates for NOK adds further credence to that theory. They've estimated that its revenue will drop by 3%, and only recover by about as much in 2020. The following year's revenue growth outlook is only marginally better. Earnings per share is projected to improve at a faster clip, but still modestly, and still not rapidly until 2021. Click to EnlargeIt's going to take some time for Nokia's 5G opportunity to bear fruit, but it may not take nearly as much time as the pros are suggesting. The Bottom Line on NOK StockSo far, NOK has gotten little to no credit for its newly-won contracts, as investors struggle to get past the company's disappointing first -quarter results. Unfortunately, the upcoming second -quarter results may be equally disappointing.Any Q2 trouble may already be more than priced into Nokia stock, though.Whatever's in the cards, from Q3 on, the telecom technology giant is far better positioned to top revenue and earnings estimates than most investors appear to believe. The weakness of Nokia stock since April is still a dip worth buying if you can stomach a few quarters of volatility.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about him at his website jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks to Buy for Less Than Book * 7 Marijuana Stocks With Critical Levels to Watch * The 10 Best Dividend Stocks to Buy for the Rest of 2019 and Beyond The post Seriously, Nokia's 5G Portfolio Makes NOK Stock Worth a Shot appeared first on InvestorPlace.
Is BT Group plc (NYSE:BT) a good investment right now? We check hedge fund and billionaire investor sentiment before delving into hours of research. Hedge funds spend millions of dollars on Ivy League graduates, expert networks, and get tips from investment bankers and industry insiders. Sure they sometimes fail miserably, but their consensus stock picks […]
In yesterday's column I introduced the concept of "Goga stocks" in honor of Goga Bitadze, the Georgian prospect who was overshadowed by Duke's Zion Williamson at NBA Draft media day. Well, Goga was selected 18th in last night's draft by the Indiana Pacers, and he is about to become a very wealthy 19 year old. As for finding Goga stocks -- high-yielding names that will act as ballast for the shorts in my new entity, Excelsior Capital Partners -- perhaps the young man's story is insightful in more than one way.
British telecom companies should show "all due caution" before using China's Huawei equipment in their 5G networks because the government cannot ignore the warnings from the United States, its digital minister said. Britain has found itself caught up in the diplomatic row between Washington and Beijing after the Trump administration told allies not to use Huawei's 5G equipment for fear it could allow China to spy on sensitive communications and data. Britain's National Security Council, chaired by Prime Minister Theresa May, had agreed in April to allow Huawei restricted access to non-core parts of the 5G network, but that decision has been put on hold following the U.S. intervention.
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like...
Nokia Corporation (NYSE: NOK ) said Monday it now has more than 40 commercial agreements with the companies building 5G networks as it seeks to be a top player in the behind-the-scenes work to create the ...
Juniper's (JNPR) leading-edge solution is likely to help British Telecommunications improve business continuity and increase time-to-market in a cost-effective manner.
[Editor's note: This story was previously published in January 2019. It has been republished to reflect the current market sentiment for, what we believe, are long-tail investment ideas.]With the trade war raging, investors can't be blamed for wanting to play some defense. Even when the markets are having one of their green days lately, volatility has been looming. As such, people are buying some more stable stocks, such as the phone companies.Telecom stocks are known for their conservative nature. Even during bear markets and recessions, people tend to keep paying for their phones and internet connections. As such, telecom stocks are a solid place to take shelter during volatile market storms. The fact that most telecoms are dividend stocks, sometimes yielding excess of 5%, only adds to the appeal.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 6 Stocks to Buy for This Decade's Massive Megatrend With all that in mind, what telecom stocks are looking good as we head deeper into 2019? Telecom Stocks To Buy Now: T-Mobile (TMUS)Source: Mike Mozart via Flickr (modified)Let's start off with the telecom stocks to buy in the United States. Unfortunately, Verizon (NYSE:VZ) has run up recently and is no longer a strong value at this price. Meanwhile, AT&T (NYSE:T) has bet the farm on content with the Time Warner deal and is not a good choice for risk-averse telecom investors.That leaves us with T-Mobile (NASDAQ:TMUS) and Sprint (NYSE:S). For years now, there has been talk about how the two need to merge to stay competitive with AT&T and Verizon. It appears that the deal is finally coming to fruition now.On Monday, FCC head Ajit Pai said that: "In light of the significant commitments made by T-Mobile and Sprint as well as the facts in the record to date, I believe that this transaction is in the public interest and intend to recommend to my colleagues that the FCC approve it." The deal is far from a sure thing. There is talk that the DOJ still has misgivings about the potential merger. But in general, the odds now appear to favor the government approving the long-discussed merger.Both T-Mobile and Sprint have struggled to achieve the sort of profitability that the larger two telecom players have obtained. However, combining T-Mobile's nearly 60 million subscribers with Sprint's 40 million would take the company to 100 million, overtaking AT&T to become number two player in the country. T-Mobile believes it can achieve a whopping $6 billion in yearly cost synergies out of the deal, giving it plenty of funds for robust 5G deployment along with, hopefully, dividends and perhaps a share buyback.TMUS stock looks expensive on a standalone basis now, but once it gets Sprint integrated, the company should be a huge profit generator. Telus (TU)Source: Shutterstock Vancouver, Canada-based Telus (NYSE:TU) is a strong choice for yield-seeking telecom investors. The company pays a 4.5% dividend and is gaining market share in its home country. It's supported by solid organic business growth. Telus sported 9.2 million paying subscribers at the end of 2018. That's a gain of around 200,000 subs since the end of 2017 and an increase of half a million since 2016. Telus has benefited from some of the lowest customer churn in the North American telecom industry, keeping customer acquisition costs in line while growing the user base.Telus stock has been off to a good start in 2019. Shares are up 13% year to date. But don't let the recent strength scare you off. Over the past five years, TU stock has consistently traded between $30 and $40, so the $37 share price is pretty muted. Why hasn't TU stock broken out to new highs yet?For one thing, there has been tons of talk about the Canadian "housing bubble" popping. Home prices, particularly in Toronto and Vancouver, have surged in recent years. Government action to cool the market has led to a reversal in prices. This could lead to a recession. Canadian housing data in 2019 is looking particularly ugly so far.Oil prices have been pretty spotty as well, and the Canadian government has taken some anti-oil measures that have led to job losses and economic slowdown in that key industry. * 7 Safe Stocks to Buy for Anxious Investors That said, telecom stocks hold up during recessions. People keep using their phones regardless. With that 4.5% dividend yield and selling at less than 12x forward earnings, TU stock is a buy on any weakness. China Unicom (CHU)Source: Maher Najm via FlickrIt's no secret that the ongoing U.S.-China trade war has put a hex on Chinese stocks. While most of the focus has gone to beaten-down Chinese tech companies, that's not the only place where we can go bargain shopping.For example, look at China Unicom (NYSE:CHU), a leading Chinese mobile carrier. CHU stock started the year at $10.50. It rallied to as far as $13.50 in March as U.S.-China relations were looking up. Now, however, the stock has slumped back to $10.50 as American investors don't want anything to do with Chinese shares.That said, the company, as of its recent semi-annual results, is posting strong numbers despite concerns about the Chinese economy. Its service revenue grew by 8.3%, for example, which was more than double the pace of the industry overall. EBITDA and free cash flow both grew by 5%. For a telecom companies these are fine numbers indeed, especially in a so-so economy.Prior to the trade war, China Unicom stock was trading around $14. Just a couple months ago, it almost reached that level again. From the current $10.50 share price, it's not hard to see a path to 25-30% gains later this year once the trade war is resolved.There's also the possibility that China Unicom may pair up with China Telecom (NYSE:CHA) to combine the second and third largest players in the Chinese market. With the rollout of expensive nationwide 5G networks on the way, this would help the two smaller players stay competitive and save money to compete against behemoth China Mobile (NYSE:CHL). In any case, don't overlook the Chinese mobile carriers as a way to play a fast-growing telecom market with huge mobile data demand.The trade war drama is a negative. Additionally, the FCC has already blocked China Mobile's bid to offer service in the U.S. on national security grounds, adding another question mark for the industry. Tension is high, but this won't drag on forever, and when it ends, CHU stock will make gains. Telefonica (TEF)Source: Shutterstock It was a rotten, no-good year for emerging markets in 2018. If anything, 2019 has gotten off to a worse start. China is dragging down emerging markets around the globe, and the strong U.S. dollar is another headwind. Europe's economy is struggling as well. Hence, Spain's Telefonica (NYSE:TEF) put in an underwhelming performance.Telefonica derives 24% of its business from Spain, 14% from Germany and 13% from the U.K., with most of the rest coming from assorted countries in Latin America. These economies have largely been mediocre to bad in recent years.However, with sustained underperformance comes opportunity. Economic activity tends to revert, and there have been some recent signs of life in various Telefonica markets, notably Brazil, Mexico, and Colombia. The company's operating income has quietly rebounded from just 3.5 billion Euros in 2015 to 5.5 billion in 2016 and 6.8 billion Euros in 2017 before a slight dip recently due to currency swings and restructuring charges. * 7 Stocks to Buy for Over 20% Upside Potential TEF stock has slid a bit in 2019 thanks to the weakness in emerging markets. The current $8 share price is just 5% or so above 52-week lows. That's also way down from the $15 level where it generally traded between 2012 and 2015. Regardless, profitability has been picking up and the company is one of the most widely diversified telecoms out there. It wouldn't take much for TEF stock to catch a bid. Additionally, it has historically paid extremely generous dividends and currently offers a 5% yield. Telecom Stocks To Buy Now: BT Group (BT)Source: Shutterstock For many American investors, BT Group (NYSE:BT) is overshadowed by the U.K's other telecom giant, Vodafone (NASDAQ:VOD). But don't sleep on BT. The $25 billion market cap BT Group has a rather impressive business of its own. And besides, Vodafone, with its recent dividend cut, has some problems at the moment.Turning to BT, it has its mobile business, enterprise division, international subsidiaries and so on. But its crown jewel is Openreach, which controls the phone cables and telecom pipes across Britain. This gives it an effective monopoly over the so-called last mile of connectivity. The British government was considering making BT divest this most powerful asset, but so far, it appears the worst of the regulatory storm has passed.Despite that, BT stock is down from more than $30 a share a few years ago to just $13 now. Much of this has been due to Brexit concerns. Businesses in particular have spent less in preparation for a potential slowdown in the British economy. BT's Italian subsidiary also was hit with an accounting scandal.Regardless, the selling is way overdone, as the company remains strongly profitable and has maintained its greater than 6% dividend yield despite the share price decline. The stock fell another 10% on its recent earnings report, setting up a dip-buying opportunity. From the low $13's, where the stock currently trades, Goldman Sachs sees nearly 50% upside. That, plus the dividend, would be a nice return indeed.At the time of this writing, Ian Bezek owned TEF, BT, and VOD stock. You can reach him on Twitter at @irbezek. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 6 Stocks to Buy for This Decade's Massive Megatrend * The 7 Best Stocks to Buy From the IPO ETF * 7 Athletic Apparel Stocks With Marathon Pace Compare Brokers The post The 5 Best Telecom Stocks to Buy Now appeared first on InvestorPlace.
2019 Annual Report on Form 20-F LONDON, UK / ACCESSWIRE / May 23, 2019 / Pursuant to Rule 203.01 of the New York Stock Exchange Manual, BT (NYSE: BT) announces to holders of its American Depositary Shares ...
Britain's biggest broadband and mobile provider BT Group said on Thursday former Chief Executive Officer Gavin Patterson had agreed to a halving of his annual bonus. "The (pay) committee and Gavin agreed that a reduction of the total bonus outcome by 50% would be the right thing to do and in the best interests of all stakeholders," BT said. Patterson left BT at the end of January, handing over to Philip Jansen, a former Worldpay chief executive.
The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times Sir Philip Green's retail empire Arcadia ...