On Friday at 11:19 AM (Bangkok time), the share price of JMT Network Services Public Company Limited (SET: JMT) jumped by 5.88% or THB 1.10 to THB 19.80, with a trading value of THB 725.27 million.
Bualuang Securities anticipates JMT to record a net profit of THB 420 million in 3Q24, surpassing earlier estimations by 8%. This figure represents a 10% year-on-year decline, attributed to reduced gross profit margins and heightened credit expenses, and a 14% increase quarter-on-quarter from enhanced total revenue and decreased credit costs.
JMT is anticipated to see a recovery in cash reserves on a quarter-on-quarter basis, with expectations pointing towards a continuing upturn in the fourth quarter of 2024 driven by the peak season.
Bualuang Securities raises its net profit projections for JMT in 2024 and 2025 by 13% and 17%, respectively. Forecasts indicate a 17% annual increase in the company’s net profit in 2025, largely attributed to the rebound in cash reserves. Consequently, the analyst has upgraded JMT’s rating from ‘Sell’ to ‘Buy’ and set a year-end 2025 target price of THB 22 per share.
