KUALA LUMPUR: Shares of Masterskill Education Group Bhd (MEGB) climbed 21 sen to RM2.13 in afternoon trade on Friday, April 1 as investment interest perked up on its proposed final dividend of 7.9 sen per share.
At 2.56pm, MEGB was up 21 sen to RM2.13 with 17.52 million shares done.
The FBM KLCI rose 3.99 points to 1,549.12. Turnover was 932.20 million shares valued at RM1.14 billion. There were 414 gainers, 335 losers and 261 stocks unchanged.
On Thursday, MEGB recommended a final single tier dividend for the financial year ended Dec 31, 2010 of 7.9 sen per ordinary share of 20 sen, payable on June 15.
OSK Research maintained its Trading Buy call at an unchanged fair value of RM3.44 at 12 times FY11 PER.
When it issued the report on Thursday, it said the stock was trading at an alluring FY11 PER of 6.4 times, the cheapest in its coverage, with dividend yield of more than 7% per annum. It was at RM1.84 on Thursday.
'With the stock's valuation at its trough, we believe that any further downside risks are unlikely and hence we see this as an opportune time to accumulate. Its key re-rating catalysts are more affirmative indications in relation to PTPTN's loan allocation and the potential approval of courses at its new Kuching campus,' said OSK Research.
At 2.56pm, MEGB was up 21 sen to RM2.13 with 17.52 million shares done.
The FBM KLCI rose 3.99 points to 1,549.12. Turnover was 932.20 million shares valued at RM1.14 billion. There were 414 gainers, 335 losers and 261 stocks unchanged.
On Thursday, MEGB recommended a final single tier dividend for the financial year ended Dec 31, 2010 of 7.9 sen per ordinary share of 20 sen, payable on June 15.
OSK Research maintained its Trading Buy call at an unchanged fair value of RM3.44 at 12 times FY11 PER.
When it issued the report on Thursday, it said the stock was trading at an alluring FY11 PER of 6.4 times, the cheapest in its coverage, with dividend yield of more than 7% per annum. It was at RM1.84 on Thursday.
'With the stock's valuation at its trough, we believe that any further downside risks are unlikely and hence we see this as an opportune time to accumulate. Its key re-rating catalysts are more affirmative indications in relation to PTPTN's loan allocation and the potential approval of courses at its new Kuching campus,' said OSK Research.
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