bullish
Smiths News - Sub 3x P/E and a 15% dividend yield
SUMMARY
Smith News’ FY22 trading update highlighted slightly better trading than we expected as the market normalised and publishers raised cover prices. Furthermore, management was able to control costs within budget. The new financial year has started well with increased One-shot sales, which are likely to increase with the upcoming FIFA World Cup and the forthcoming coronation. We have raised our FY22 and FY23 estimates modestly, which drives our increased valuation from 92p to 94p. Smiths News is trading on a P/E of less than 3x and offers an exciting dividend yield of nearly 15%.
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- Smiths News - Sub 3x P/E and a 15% dividend yield26 Sep 2022
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