Peel Hunt Reaffirms “Buy” Rating for Manx Telecom (MANX)

Peel Hunt reissued their buy rating on shares of Manx Telecom (LON:MANX) in a research note released on Wednesday.

A number of other research analysts also recently weighed in on the stock. Numis Securities downgraded shares of Manx Telecom to a hold rating and cut their price target for the company from GBX 220 ($3.09) to GBX 200 ($2.81) in a report on Friday, March 16th. Barclays cut their price target on shares of Manx Telecom from GBX 220 ($3.09) to GBX 215 ($3.02) and set an overweight rating on the stock in a report on Friday, March 16th. Finally, Liberum Capital restated a buy rating and set a GBX 236 ($3.31) price target on shares of Manx Telecom in a report on Thursday, March 15th.

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Manx Telecom stock opened at GBX 181.50 ($2.55) on Wednesday. Manx Telecom has a 1-year low of GBX 172 ($2.41) and a 1-year high of GBX 209 ($2.93).

The firm also recently declared a dividend, which will be paid on Friday, June 29th. Stockholders of record on Thursday, May 24th will be issued a dividend of GBX 7.50 ($0.11) per share. The ex-dividend date of this dividend is Thursday, May 24th. This represents a dividend yield of 4.04%. This is an increase from Manx Telecom’s previous dividend of $7.20.

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Manx Telecom Company Profile

Manx Telecom plc provides a range of telecommunications services to consumers, businesses, and public sector in the Isle of Man and internationally. It operates through five segments: Fixed Line, Broadband and Data; Mobile; Global Solutions; Data Centre; and Other. The Fixed Line, Broadband and Data segment offers fixed line, broadband, and connectivity services to approximately 37,000 homes and 4,000 businesses.

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