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MBT, CRNT, NIHD, MICC, PTNR, CEL, Wireless Non-US Stocks Overvalued

^{Published on 2011-04-18 05:21:16 - WOPRAI}
 

April 18, 2011/ M2 PRESSWIRE / BUYINS.NET / http://www.squeezetrigger.com is monitoring the Wireless Non-US sector and these stocks are the most undervalued as of today. MOBILE TELESYSTEMS-SP ADR (NYSE:MBT), CERAGON NETWORKS LTD (NASDAQ:CRNT), NII HOLDINGS INC (NASDAQ:NIHD), MILLICOM INTL CELLULAR S.A. (NASDAQ:MICC), PARTNER COMMUNICATIONS-ADR (NASDAQ:PTNR), CELLCOM ISRAEL LTD (NYSE:CEL) are all expected to go Down as they are Overvalued according to industry standard valuation metrics. The valuation model employs a three-factor approach to stock valuation using fundamental variables--the company's trailing 12-month Earnings-Per-Share (EPS), the analyst consensus estimate of the company's forecasted 12-month EPS, and the 30-year Treasury yield--to create a highly accurate reflection of a company's fair value.

The chart below displays the projected Fair Value and Valuation discount/premium of the most undervalued stocks in the highlighted industry group:

     Symbol     Company Name                        Last Close     Fair Value     Valuation                   Industry               
     MBT        MOBILE TELESYSTEMS-SP ADR           $20.78         $16.65         24.80% Overvalued           Wireless Non-US        
     CRNT       CERAGON NETWORKS LTD                $11.56         $9.00          28.40% Overvalued           Wireless Non-US        
     NIHD       NII HOLDINGS INC                    $39.57         $32.03         23.50% Overvalued           Wireless Non-US        
     MICC       MILLICOM INTL CELLULAR S.A.         $99.65         $89.94         10.80% Overvalued           Wireless Non-US        
     PTNR       PARTNER COMMUNICATIONS-ADR          $18.45         $18.28         0.90% Overvalued            Wireless Non-US        
     CEL        CELLCOM ISRAEL LTD                  $31.10         $28.81         7.90% Overvalued            Wireless Non-US        

Here are some of the variables that are utilized when calculating the Fair Market Valuation of a stock: Long-run EPS growth rate, Duration of Business-growth-cycle, Volatility of EPS growth rate, Systematic or beta risk of the firm, Correlation between the firm's EPS and the interest rate environment, EPS growth volatility, Dividend payout ratio, Buffer earnings, Interest rate related criteria: Interest rate (30 year yield) long-run level, Duration of interest rate cycle, Interest rate volatility. The Fair Market Valuation uses 12-month historic and forecasted EPS values and the current 30-year treasury yield as primary determinants. When calculating risk/return values such as the Sharpe ratio, the historic periods used are five years.

Some expected results of the Valuation Model are: the valuation of a stock increases in a declining interest rate environment. Increasing current and/or projected EPS will produce a higher Valuation. While long-term EPS growth would produce a corresponding long-term Valuation increase, concomitant long-term interest rate increases would offset EPS growth and depress the Valuation. The shorter a company's own business cycle, the higher its stock Valuation will be.

MOBILE TELESYSTEMS-SP ADR (NYSE:MBT) - Mobile TeleSystems OJSC, together with its subsidiaries, provides telecommunications services primarily in the Russian Federation, Ukraine, Uzbekistan, Turkmenistan, Armenia, and Belarus. The company provides a range of mobile and fixed line voice and data telecommunications services, including transmission, broadband, pay-TV, and various value-added services; and sells equipment and accessories. It also offers network access services, including mobile cellular voice and data communication services; automatic roaming services; GPRS and Internet access services; and 3G technology. In addition, the companys services include the design, construction, and installation of local voice and data networks capable of interconnecting with fixed line operators; installation and maintenance of cellular payphones; lease of digital communication channels; and provision of access to open computer databases and data networks, including the Internet, as well as video conferencing, and fixed, local, and long-distance telecommunications services. Further, it provides various value-added services, including call divert/forwarding, caller ID display and anti-caller ID display, conference calling, WiFi, location-based services, GPRS, intelligent call assistant, APN remote access point, fixed mobile convergence, enhanced data rates for GSM Evolution, call barring, SMS, mobile office, voicemail, mobile banking, wireless application protocol, MTS-Connect, SIM-browser, point-to-point transfer, unstructured supplementary services data, and high-speed downlink packet access. As of December 31, 2009, the company had a mobile subscriber base of approximately 97.81 million. It has a strategic partnership with Vodafone. The company was founded in 1993 and is headquartered in Moscow, the Russian Federation. Mobile Telesystems OJSC operates as a subsidiary of Sistema JSFC.

CERAGON NETWORKS LTD (NASDAQ:CRNT) - Ceragon Networks Ltd. offers wireless backhaul solutions that enable cellular operators and other wireless service providers to deliver voice and data services, such as Internet browsing, music, and video applications. The company offers its products under the brand name of FibeAir, which include IP-10/IP-MAX2-G, a high-capacity Ethernet that is used in wireless backhaul, worldwide interoperability for microwave access (WiMAX) backhaul, metro area networks, private networks, and long distance networks; IP-10/IP-MAX2, a high-capacity multi-service, which is used in wireless backhaul and private networks; and 640P, a high-capacity PDH multi-service used in wireless backhaul and business access. It also provides 2000/4800, an unlicensed multi-service that is used in private networks and business access; 1500P/1500R, a high-capacity synchronous digital hierarchy/synchronous optical networking, which is used in wireless backhaul and metro area networks; and 3200T, a high-capacity circuit-switched time-division multiplexer used in wireless backhaul and long distance networks. In addition, Ceragon offers turnkey project services that include advanced network and radio planning, site survey, solutions development, installation, maintenance, and training. The company serves WiMax carriers, Wireless Internet service providers, local exchange carriers, businesses, public institutions, and wireless service providers. It sells its products through various channels, including direct sales, original equipment manufacturers, resellers, distributors, and system integrators primarily in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company was formerly known as Giganet Ltd. and changed its name to Ceragon Networks Ltd. in September 2000. Ceragon Networks Ltd. was founded in 1996 and is headquartered in Tel Aviv, Israel.

NII HOLDINGS INC (NASDAQ:NIHD) - NII Holdings, Inc., through its subsidiaries, provides wireless communication services to businesses and individuals primarily in Mexico, Brazil, Argentina, Peru, and Chile. Its services include mobile telephone services comprising various calling features, such as speakerphone, conference calling, voice-mail, call forwarding, and additional line service; and Nextel Direct Connect service, which allows subscribers anywhere on its network to talk to each other on a push-to-talk basis, private one-to-one call, or on a group call. The company also offers International Direct Connect service, which allows subscribers to communicate with its subscribers in Mexico, Brazil, Argentina, Peru, Chile, the United States, and Canada. In addition, it provides various services, such as text messaging; mobile Internet; e-mail services; location-based services, which include the use of global positioning system technologies, digital media services, and Java enabled business applications; and international roaming services. Further, the company offers two-way radio service. NII Holdings, Inc. provides its products and services under the Nextel brand name. The company sells its products and services through direct sales representatives, indirect sales agents, telesales, Nextel retail stores, shopping center kiosks, and Web site. It was formerly known as Nextel International, Inc. and changed its name to NII Holdings, Inc. in December 2001. The company was founded in 1995 and is based in Reston, Virginia.

MILLICOM INTL CELLULAR S.A. (NASDAQ:MICC) - Millicom International Cellular S.A., together with its subsidiaries, operates as a global telecommunications group with mobile telephony operations in 14 countries in Central America, South America, Africa, and Asia. It also operates cable and broadband businesses in five countries in Central America. Millicom International Cellular offers prepaid services using mass market distribution methods; and broadband Internet, fixed wireless telephony, and public telephony, as well as operates an international gateway and provides television services. As of December 31, 2009, it served 34 million mobile customers. The company was founded in 1968 and is based in Luxembourg, Luxembourg.

PARTNER COMMUNICATIONS-ADR (NASDAQ:PTNR) - Partner Communications Company Ltd. provides mobile telecommunications services in Israel. The company offers cellular telephony services on GSM/GPRS and UMTS/HSDPA networks. Its basic service offerings include international dialing, roaming, voice mail, short message services, intelligent network services, content based on its cellular portal, data and fax transmission, and other services. In addition, the company offers voice over broadband telephony services; ISP services that provide access to the Internet, as well as home Wi-Fi networks; value added services, such as mail and anti-spam filtering; and Web video on demand, music tracks, and games. Partner Communications also provides mobile handsets to its subscribers at discounts. In addition, the company offers land-line transmission and data capacity services. It markets its products and services through partner-owned sales centers, business sales representatives, traditional networks of specialized dealers, and non-traditional networks of retail chains and stores under the brand name of Orange. As of December 31, 2009, the company had approximately 3.042 million subscribers. Partner Communications Company Ltd. was founded in 1997 and is headquartered in Rosh Ha-ayin, Israel.

CELLCOM ISRAEL LTD (NYSE:CEL) - Cellcom Israel Ltd. provides cellular communications services in Israel. It offers basic and advanced cellular telephone services, text and multimedia messaging services, and advanced cellular content and data services. The companys basic cellular telephony services include voice mail, cellular fax, call waiting, call forwarding, caller identification, collect call, conference calling, Talk 2, and additional number service; and outbound and inbound roaming services to subscribers and visitors of Israel. It also offers value-added services, including Cellcom volume, which comprises music-related marketing content providing downloadable content, such as music, games, on-net-reality programs, drama series, and video games; SMS and MMS services to send and receive text, photos, multimedia, and animation messages; access to third party application providers to receive the notification of roadway speed detectors, mange vehicle fleets, and enable subscribers to manage and operate time clocks and various controllers for industrial, agricultural, and commercial purposes; video calls to communicate with each other through video applications; zone services for calls initiated from a specific location; location-based services; voice-based information services; text-based information services and interactive information services, including news headlines, sports results, and traffic and weather reports; and data services to access handsets, cellular modems, and cellular routers. In addition, the company sells handsets, as well as provides warranty and repair, and replacement services; and offers landline telephony, transmission, and data services using approximately 1,500 kilometers of inland fiber-optic infrastructure and complementary microwave links to selected business customers. As of December 31, 2009, it provided services to approximately 3.292 million subscribers in Israel. Cellcom Israel Ltd. was founded in 1994 and is headquartered in Netanya, Israel.

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