Her worst session of the last 8 months (from November 2023) presents today (4/7) the participation of OTE at the Athens Stock Exchangeputting a “brake” on July’s three-day ascending sequence.
More specifically, shortly after 12:30 p.m., the listed company’s title falls 3.55% or by 0.51 euros and stands at 13.29 euros, that is, in lowest point from February 2024.
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So far, only 100,000 units have been moved, which translates into a transactional turnover in the order of 1.3 million euros.
The sharp drop in shares is attributed to the cut in the right to dividend of 0.71 euros (gross), which corresponds to a dividend yield of over 5%. The start of the payment of the money takes place on July 10th.
However, it should be noted that the continued decline is lower than the share bonus by 0.20 euros/share.
The bet
All this, however, happens while the Kostas Nebi took over management of the Group on July 1, replacing the longest-serving CEO (almost 14 years in the role of general director) Michalis Chamaz.
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One of Nebi’s main bets is, without a doubt, the recovery of the stock, which is still underperformance in relation to the General Index.
It is characteristic that OTE stock has lost at least 11.5% in the last 12 months, far from the Maximum 15 years of 18 euros (April 2022).
This has resulted in the listed company’s capitalization being in the range of 5.5 billion euros, having fallen to 4th place in the table of most valuable companies of the Stock Exchange.
35% margin
Based on the average analyst price target, the bar for OTE stock is placed at 17.9 euroswhich translates into an advantage 35% margin.
According to data from Bloomberg, at the same time, the profitability multiplier index P/E is at 10.5xwith accounting P/BV ratio of 2.6x.
(The text above is the product of journalistic research and does not constitute an invitation to buy, sell or hold any stock)