Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Zedcor Inc V.ZDC

Alternate Symbol(s):  CRFQF

Zedcor Inc. is a Canada-based company, which provides mobile industrial & commercial surveillance solutions. The Company's MobileyeZ security towers provide turnkey and customized mobile surveillance and live monitoring solutions to blue-chip customers across North America. Its MobileyeZ towers, available as electric with battery backup, solar hybrid and diesel, can provide surveillance coverage and lighting for all types of worksites. The Company is expanding its established platform of over 1,000 MobileyeZ towers in Canada and the United States. It also offers high level security guard services to enterprise level customers who are interested in supplementing video-based security for valuable, high risk, or mission critical operational assets. It provides in-house North American based live video alarm monitoring. It serves various industries, including construction; mining; energy sector; pipeline construction; office, commercial & retail; and autobody & automotive dealerships.


TSXV:ZDC - Post by User

Post by kijijion Jan 16, 2023 11:57am
376 Views
Post# 35225778

ZDC target price upgrade.

ZDC target price upgrade.
Paradigm Capital analyst Alexandra Ricci is staying bullish on Canadian security tech company Zedcor Inc (TSXV:CA), keeping a “Buy” rating on the stock in a Tuesday report to clients while nudging up her target price from $0.75 to $0.80 per share. Ricci said Zedcor plans on almost doubling its count of security towers by the end of 2023, causing her to raise her estimates on the company and stock.
 
Calgary-based Zedcor provides security and surveillance services and tailors custom solutions for customers, with offerings in surveillance and live monitoring through its proprietary MobileyeZ security towers, along with surveillance and live-monitoring of fixed site locations and provision of security personnel. Zedcor also has high-level security guard services for enterprise customers and currently has a fleet of over 450 towers over 80 fixed site locations across a number of industries.
 
Currently with a $45-million market cap, Zedcor last reported earnings in November where its third quarter 2022 saw revenue climb 57 per cent year-over-year to $5.8 million and $2.1 million in adjusted EBITDA compared to $1.4 million a year earlier.
 
Zedcor’s share price performed very well in 2022, returning 56 per cent for the year and rising to about a double over the last few months. But there should be more where that came from, according to Ricci, whose $0.80 target represented at press time a projected one-year return of 29 per cent.
 
“ZDC has a winning combination of technology and unique targeted customers which puts the company in a strong position to attract long-term, large-scale contracts. Growth opportunities are likely to come through fleet expansion, geographic expansion and diversification of its customer base,” Ricci said.
 
Ricci recently met with management, with the outcome being a lift to her aspirational, “blue-sky” picture for the company by 2026, which includes 2,000 towers operational and making for about $81 million in revenue. Ricci said management has stayed consistent in its priorities, with a focus on geographic expansion and fleet growth, and that has led to quarterly forecast beats on a consistent basis. For 2023, management is targeting to add about 450 towers to its fleet as well as aiming to expand operations into two US states by mid- to late-year.
 
As a result of the meetings, Ricci has now revised her estimates and is calling for Zedcor to finish 2022 with $21.3 million in revenue compared to $13.6 million for 2021 and moving to $29.2 million for 2023. On earnings, she is forecasting $7.2 million for 2022 and $9.2 million for 2023.
 
“We currently value the company using an 8.5x EBITDA multiple on 2023; our security basket trades at 8.5x. Following slight revisions to our 2023 forecast we are raising our target price to $0.80 (was $0.75),” Ricci wrote.
 
<< Previous
Bullboard Posts
Next >>