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Stock Quote – At N3.8 Is Skye Bank Looking Like A Steal? This Is What I Think …

Nairametrics by Nairametrics
March 10, 2014
in Uncategorized
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I am looking at Skye Bank shares again and wondering just when to move in. It’s been on our watch list for sometime now and at its current price I find myself itching for my pocket.

First the stats. Skye Bank is trading at P.E ratios that is well below 4x. That on paper looks like a 25% earnings yield and off course a STEAL.

But that’s not all you should focus on when you’re buying stocks. Fundamentals is king and you should always let that guide you.  Currently,  the bank looks set to release results that may well be lower than the prior year results.

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The bank has its work cut out trying to reduce its high cost to income ratio. It’s 9 months to September 2013 results is also 12% lower than its comparative year in 2012.  So if we assume the company does release worse than 2012 results, the share price suddenly won’t look cheaper than it seems.

Nevertheless,  Skye Bank is still in our watch list and is still a buy. ..just that we haven’t made up our mind to strike.

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Disclosure: We already have shares of Skye Bank

http://mobile.bloomberg.com/quote/SKYEBANK%3ANL

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