Pat McKeough responds to many personal questions on specific stocks and other investment topics from the members of his Inner Circle. Every week, his comments and recommendations on the most intriguing questions of the past week go out to all Inner Circle members. And each week, we offer you one of the highlights from these Q&A sessions.
This past week, an Inner Circle member who is also a client of our portfolio management services had a question about one of Canada’s rising tech stocks. This broadcast equipment specialist, whose prominence has increased due to the upcoming Summer Olympics, is grooming itself as a takeover candidate.
Q: Dear Pat: Great to be back as a portfolio management client, and many thanks for taking me back. I must have had a mental collapse to have moved to another service temporarily. What is your view on Miranda Technologies? It has made some large leaps over the last few months and apparently may be subject to takeover bids.
A: Miranda Technologies (symbol MT on Toronto; www.miranda.com), sells equipment that helps broadcasters deliver more channels (including those that broadcast in high definition), insert advertising and graphics, and produce news.
Miranda has a manufacturing plant in Montreal, as well as regional offices in the U.S., the U.K., the Netherlands, France, Hong Kong, Japan, the United Arab Emirates and China.
The stock took a big jump on March 21, 2012, after the company said that it is making a change to its board of directors and will consider putting itself up for sale.
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Tech stocks: Miranda brings mergers and acquisitions specialist on board
At the time, Miranda reported that it had already attracted interest from a number of potential buyers. That’s partly because the company is helping convert TV stations to high-definition signals in emerging markets. It is also gaining prominence due to its role as the equipment supplier for NBC’s coverage of the Summer Olympics in London.
As well, Miranda has accepted activist shareholder JEC Capital Partners’ nomination of Tim Thorsteinson to its board. Boston-based JEC owns 10% of Miranda’s shares.
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In the three months ended December 31, 2011, Miranda’s revenue rose 11.6%, to a record $50.1 million from $44.9 million a year earlier. Earnings rose 4.3%, to $3.5 million from $3.3 million. Earnings per share rose 6.7%, to $0.16 from $0.15, on fewer shares outstanding. The company holds cash of $31.4 million, or $1.44 a share, and has no debt.
In the most recent Inner Circle Q&A, Pat examines the prospects for the potential takeover under the company’s new CEO. He also looks at whether Miranda can continue to grow whether or not it is taken over. He concludes with his clear buy-hold-sell advice on the stock.
Inner Circle members see Pat’s analysis and recommendations on the stocks that other members have asked about in each week’s Inner Circle Q&A. You can view it immediately when you become a member of this unique investment group. You will get Pat McKeough’s answers to your personal investment questions, full access to our members-only Inner Circle website, and many other membership privileges. Click here to get started right away.
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