TT Electronics (TTG)

Sector:

Electronic and Electrical Equipment

Index:

FTSE Small Cap

101.00p
   
  • Change Today:
      1.60p
  • 52 Week High: 161.00p
  • 52 Week Low: 73.00p
  • Currency: UK Pounds
  • Shares Issued: 178.05m
  • Volume: 82,158
  • Market Cap: £179.83m
  • RiskGrade: 186

Numis and RBC sound a positive note on TT Electronics after latest update

By Alexander Bueso

Date: Monday 21 Nov 2022

LONDON (ShareCast) - (Sharecast News) - Analysts at RBC Capital revised their target price for shares of TT Electronics lower on the back of the electronic component manufacturer's latest update.
In particular, they highlighted sales volumes growth of approximately 20% over the preceding four months and the fact that orders were running ahead of sales.

"A [price-to-earnings multiple] of 9x22E is priced for a significant cyclical downturn in our view and this continues to look very harsh vs business momentum," they said.

They also believed that cyclical risk was limited by its order book cover of around two thirds for 2023 and the fact that the company's end market mix included Healthcare and Aerospace and Defence at nearly 50% of sales.

The absence of operating leverage to its accelerated growth on the other hand was "slightly disappointing".

Nonetheless, earnings before interest, taxes and amortisation were still growing at more than 40% in comparison to the first six months of the year and the comparable year earlier period, they said in a research note sent to clients.

The analysts lowered their target price from 275.0p to 250.0p but kept their recommendation an 'outperform'.

Analysts at Numis however kept their 280.0p target price and 'buy' recommendation unchanged, focusing instead on the outfit's UK defined benefit pension scheme buy-in.

Assuming a weighted average cost of capital of 10% meant that the boost to cash flows from the move, of about £6m per year over the next three years, was worth £16m (9p per share) on a discounted cash flow basis, or approximately £40m when looking at the next 10 years (22p per share).

"In terms of company valuation, adjusting of 2023 assumptions for this would see 23E FCFe yield rise from 8.8% to 11.1%."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

TT Electronics Market Data

Currency UK Pounds
Share Price 101.00p
Change Today 1.60p
% Change 1.61 %
52 Week High 161.00p
52 Week Low 73.00p
Volume 82,158
Shares Issued 178.05m
Market Cap £179.83m
RiskGrade 186

TT Electronics Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
93.94% above the market average93.94% above the market average93.94% above the market average93.94% above the market average93.94% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Price Trend
35.68% below the market average35.68% below the market average35.68% below the market average35.68% below the market average35.68% below the market average
8.57% below the sector average8.57% below the sector average8.57% below the sector average8.57% below the sector average8.57% below the sector average
Income
66.76% above the market average66.76% above the market average66.76% above the market average66.76% above the market average66.76% above the market average
87.50% above the sector average87.50% above the sector average87.50% above the sector average87.50% above the sector average87.50% above the sector average
Growth
79.24% below the market average79.24% below the market average79.24% below the market average79.24% below the market average79.24% below the market average
75.76% below the sector average75.76% below the sector average75.76% below the sector average75.76% below the sector average75.76% below the sector average

What The Brokers Say

Strong Buy 2
Buy 2
Neutral 3
Sell 1
Strong Sell 0
Total 8
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

TT Electronics Dividends

  Latest Previous
  Interim Final
Ex-Div 12-Sep-24 11-Apr-24
Paid 15-Oct-24 15-May-24
Amount 2.25p 4.65p

Trades for 29-Aug-2025

Time Volume / Share Price
16:35 12,243 @ 101.00p
16:35 1 @ 101.00p
16:35 4,498 @ 101.00p
16:35 535 @ 101.00p
16:35 343 @ 101.00p

TT Electronics Key Personnel

Chair Warren Tucker
CEO Eric Lakin

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