Stocks to watch this week 16th April 2018

The Nigerian Stock Exchange closed up marginally by 0.21% last week. Here are a few stocks we have on our watch list for this week. 

Presco Plc

Presco Plc late Friday released its FY 2017 results and revenue increased from N15.7 billion in 2016 to N22.3 billion in 2017. Profit before tax dipped from N31.2 billion in 2016 to N10.9 billion in 2017. The company also declared a dividend of N2 per share. Investors could decide to take a position or sell down depending on market sentiments.

Oando Plc

Oando gained 15.19% last week after the lifting of a technical suspension placed on the stock. Trading in the stock could be volatile this week depending on news surrounding the forensic audit.

Seplat Petroleum Development Company Plc

Seplat, last Friday sent a notice to the Nigerian Stock Exchange (NSE) concerning a board meeting scheduled to hold this week. Consideration of the company’s Q1 2018 results and a possible dividend payment are top on the agenda.

Seplat also stated that it would inform the NSE of the board’s decisions immediately after the meeting. Investors could decide to key into the stock in order to qualify, in the event of a dividend payment.

Wema Bank Plc

Wema Bank last week released its financial statements for the year ended December 2017. The bank’s investor call is scheduled for the Wednesday 18th of April 2018.

Fidelity Bank Plc

Fidelity Bank is yet to release its financial statements for the year ended December 2017 but in a notice to the NSE, it indicated that it would do so on or before the 30th of April. The bank has also been consistent in releasing its Q1 results in April, indicating that both could be released at once or in close proximity.

GT Bank Plc

GT Bank had recently sent a notice to the NSE with respect to its board meeting on Wednesday this week to consider its unaudited Q1 2018 results. The bank also stated that it would inform the NSE of its board decision. Investors may react positively or negatively depending on the bank’s performance.