Elevator Pitch
Thailand-listed television broadcaster BEC World Public Company Limited (OTCPK:BECVY) [BEC:TB] currently trades at 32.1 times consensus forward FY2020 P/E and offers a consensus forward FY2020 dividend yield of 2.3%. The company's share price of Bt5.75 as of January 8, 2020 represents a fraction of the stock's all-time peak of Bt76.10 (not adjusted for dividends) on 4 February 2013.
I assign a "Neutral" rating to BEC World, as I am uncertain if BEC World is able to cut costs and increase revenue from copyright & other services to offset the structural decline