China Unicom Likely Has Room to Offer Higher Dividends -- Market Talk

Dow Jones03-20

0359 GMT - China Unicom (Hong Kong) has more room to offer a higher dividend payout for the next two years, Citi Research analyst Louis Tsang says in a note. The Chinese state-owned telecom operator's 4Q 2023 earnings missed Citi's estimates, which leads the bank to lower earnings estimates for the company for 2024 and 2025. However, the company's guidance for lower-than-expected capex and double-digit earnings growth for 2024 could help support its free cash flow, Tsang says. Citi raises the stock's target to HK$7.10 from HK$6.90 on the lower capex assumption and maintains a buy rating on its attractive yield and forward price-to-earnings ratio. Shares are 2.5% higher at HK$5.70. (kimberley.kao@wsj.com)

(END) Dow Jones Newswires

March 19, 2024 23:59 ET (03:59 GMT)

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Citi raises the stock's target to HK$7.10 from HK$6.90 on the lower capex assumption and maintains a buy rating on its attractive yield and forward price-to-earnings ratio. Shares are 2.5% higher at HK$5.70. 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The Chinese state-owned telecom operator's...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK1133","symbol_name":"综合电信业务","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2420757115","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2420757115","pubTimestamp":1710907140,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0359 GMT - China Unicom  has more room to offer a higher dividend payout for the next two years, Citi Research analyst Louis Tsang says in a note. The Chinese state-owned telecom operator's 4Q 2023 earnings missed Citi's estimates, which leads the bank to lower earnings estimates for the company for 2024 and 2025. However, the company's guidance for lower-than-expected capex and double-digit earnings growth for 2024 could help support its free cash flow, Tsang says. Citi raises the stock's target to HK$7.10 from HK$6.90 on the lower capex assumption and maintains a buy rating on its attractive yield and forward price-to-earnings ratio. Shares are 2.5% higher at HK$5.70. 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Shares are 2.5% higher at HK$5.70. 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