NTT (Nippon Telegraph & Telephone)

NTT (Buy) - Q4 21 Results Reaction: Steady as She Goes

Equity Bottom-Up
251 Views, 13 May 2022 07:47
EXECUTIVE SUMMARY
  • Q4 results and FY22 guidance are in line with expectations and management is confident it is on track to meet its FY23 ¥370 EPS commitment
  • Returns to shareholders modestly better than expected with a ¥400bn buyback and the possibility of a further dividend hike later in the year still on the table
  • We remain positive on NTT shares which trade at an attractive 10-11x EPS with further support from expanding shareholder returns
detail (2-minute read)
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Kirk Boodry
Telco/Internet specialist
Redex Research
JapanInformation Technology & Communication ServicesEquity Bottom-UpThematic (Sector/Industry)

Kirk Boodry has 20+ years as a sell-side analyst including time in NY, Tokyo, London and Singapore. He first started cov... 

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