Nam Tai Electronics, Inc. (NYSE:NTE) is Banking on a Strong 3Q Performance


Dallas, Texas 10/08/2013 (Financialstrend) – China based Nam Tai Electronics, Inc. (NYSE:NTE) has a market cap of $360 million. It operates in the diversified electronics space and accounted for close to $1.19 billion in sales and $74.5 million in income over the previous 12 months trailing period.

It is a regular dividend payer and has paid back $0.6 as dividend over the past 12 months. This translates to a forward yield of 7.54% for the year. On September 18, the company had announced the dividend payout plan for its 4Q. The fourth quarter dividend payout has been fixed at $0.15 per common share with share holders on record as of September 30 eligible to get the dividends. The payout will happen on October 18. In a related announcement, the firm has fixed its 3Q results announcement date as November 4.

The stock has gained over 27% in the previous 90 days with the last 5 days seeing a 2.45% increase in its market value. This is a healthy turn around for the stock which was under pressure to grow its market value six months back. On October 7, the share was trading at $7.96 down 1.97% from its previous week close.  At current valuations, the stock is down 48% from its 52 week high valuations and is up 46% from its 52 week lows of $5.45. Through the day only 369 K shares of the stock got sold across the counter. In comparison, its average volume on a daily basis is 633K. The depleting trading volume was running in tandem with the stock losing ground yesterday.

The strong dividend payout is in the back drop of strong performance the company has been able to post over the previous few quarters. Its sales have recorded a 64% jump in comparison to its 1Q. The earnings per share had gone up by an even 100% during the same period.