PXGYF - PAX Global: Improved Capital Return And Strong Results Drive Share Price Surge
Elevator Pitch
I assign a Bullish rating to Hong Kong listed electronic payment terminals solutions provider PAX Global Technology Limited (PXGYF) [327:HK].
PAX Global's increased dividend payout ratio, multiple share buybacks in the year, and stronger-than-expected 1H 2020 results drove its recent share price surge. Also, COVID-19 brings about both short-term risks and long-term growth opportunities for the company.
PAX Global trades at consensus forward next twelve months' P/E and EV/EBITDA multiples of 6.6 times and 2.1 times, respectively, and it offers a consensus forward FY 2020 dividend yield of 3.3%. PAX Global's