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NOS SGPS SA: 1 director
A director at NOS SGPS SA sold 80,627 shares at 5.290EUR and the significance rating of the trade was 66/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly show...
- Russell Waller
NOS (Neutral, TP: €3.3) Q4 25: Better SR trends; extraordinary dividen...
NOS shares have performed well since the Digi pivot away from Portugal, and these results would suggest that rally is justified: numbers are good vs consensus and there is an extraordinary dividend (total yield for 2026 9.0% (7.0% ordinary + 2% special)).
- Russell Waller
- Russell Waller
- Russell Waller
NOS (Neutral, TP: €3.7, -2%) Q4 24: Digi impact? What Digi impact?
NOS has reported yet another good set of numbers, with Telco revenue and EBITDA +3.4% and +7.8% ahead of consensus expectations respectively. There is very little, if any, evidence of Digi impact in the numbers (which was the same for Vodafone Portugal).
- Russell Waller
- Russell Waller
- Russell Waller
- Russell Waller
- Russell Waller
- Russell Waller
- Russell Waller
NOS (Neutral, TP: €4.0, +22%) Q4 23: Good EBITDA beat, +26% DPS hike (...
NOS has reported yet another very good set of numbers, with Telco EBITDA +3.0% ahead of consensus expectations and Telco EBITDA growth now at +11.8% y/y. NOS has lifted the ordinary dividend by 26% (100% payout), giving it a 10.6% yield for 2024 (with the chance of exceptional returns as well).
- Russell Waller
NOS (Neutral, TP: €4.0, +16%) Q3 23: Stellar performance continues; ...
NOS has reported yet another very good set of numbers, with Telco EBITDA +3.8% ahead of consensus expectations (Group +4.3% ahead). B2C revenue growth is a little slower but still +5.8% y/y, and the marginal margin in Telco is now >100% y/y.
- Russell Waller
- Russell Waller
- Russell Waller
NOS (Neutral, TP: €4.8, +21%) Q1 23: Possibly the best performing mat...
NOS has reported yet another good set of numbers, with EBITDA c4% ahead of consensus expectations. B2C revenue growth has accelerated again, is now an impressive +6.5% y/y from +4.3% y/y in Q4 22, and Telecoms EBITDA is better also at +9.4% y/y from +8.7% y/y in Q4 22 (inc energy drag). There might not be a better performing mature B2C business in the whole of Europe.
- Russell Waller
- Russell Waller
- Russell Waller
- Russell Waller
New Street: Portugal mobile consolidation - Our take Vodafone, Buy, £...
As recently rumoured, Vodafone has bought the small Portuguese cable operator Nowo in Portugal from Masmovil/ GAEA (a local private equity fund). Nowo had recently bought some spectrum, so the deal is both fixed consolidation and mobile to mobile consolidation, suggesting that Masmovil/GAEA saw limited upside as a new entrant. We run through our thoughts on the deal in this short piece.
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