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GTMEY - Globe Telecom: A Mix Of Defensiveness And Growth
Globe Telecom Inc ADR
Elevator Pitch
I maintain a Bullish rating on Philippines-listed telecommunications company Globe Telecom (OTCPK:GTMEY) (OTCPK:GTMEF) [GLO:PM].
This is an update of my prior article on Globe Telecom published on June 2, 2020. Globe Telecom's share price has declined by -8% from PHP2,244 as of June 1, 2020 to PHP2,050 as of September 2, 2020, since my last update. Globe Telecom trades at 5.2 times consensus forward next twelve months' EV/EBITDA, and it offers a consensus forward FY 2020 dividend yield of 5.0%.
Globe Telecom is a defensive play in uncertain times