April was a bearish month for the Nigerian Stock Exchange as the All Share Index is down 0.63% month to date. Here is a list of stocks on our watch list as we begin the last trading week of the month on Monday.

Fidelity Bank

Fidelity Bank is a tier two lender. The stock closed Friday’s trading session at N2.52. The stock is trading at a PE ratio of 2.2 times earnings. Fidelity made our watch list this week due to the impending release of its FY 2017 results. The stock could either rally or fall depending on how positive or negative the results are.

Forte oil

Forte Oil is an integrated energy provider with operations in the upstream, downstream and power generation sectors. Forte Oil recently released its Q1 2018 results.

Forte closed Friday’s trading session at N45.20. The stock is currently trading at 24.3 times earnings.

Forte Oil is on our list of stocks to watch last week by virtue of being the biggest gainer last week, as well one of the NSE 30 stocks.

These are the 30 biggest stocks by market capitalization and liquidity on the Nigerian Stock Exchange (NSE).

Unity Bank

Unity Bank is also a tier two bank. The stock closed on Friday at N1.00 and is trading at 9.68 times earnings.

Unity is on our watch list by virtue of being last week’s biggest loser, and until recently, the best performing stock year till date.

Oando

Oando Plc is an integrated energy solutions provider, with operations in the upstream, midstream and downstream sectors. Oando closed at N9.15 on Friday’s trading session, and at a PE ratio of 17.04 times earnings. 

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Oando released its full-year 2017 and Q1 2018 financial statements late last Friday.  While this could indicate a conclusion of the forensic audit ordered by the Securities and Exchange Commission (SEC), the findings have not been made public.

Oando is up 52.75% year to date since a technical suspension on the stock was listed, making it the best performing stock in the oil and gas sector.

Standard chartered

Oando is on our watch list by virtue of its submitting its results late on Friday, the controversy that has surrounded the stock in the last 6 months and being an NSE 30 stock. 

The price direction of the stock depends on the outcome of the forensic audit if released this week.

FBN Holdings

First Bank last week released its FY 2017 and Q1 2018 results. The bank reported Gross Earnings of ₦595 billion for the year ended December 2017 compared to ₦581 billion reported for the period ended December 2016. FBN declared a final dividend of N0.25 per share.

First Bank closed Friday’s trading session at N12.45 and the stock is trading at 8.76 times earnings.

FBN makes our watch list by virtue of its qualification date which is May 4, 2018. Shareholders who own shares as at this date will receive dividends. If you buy shares and want to receive dividends make sure it is at least three days before this date.

Nestle Nigeria Plc

Nestle Nigeria Plc is one of Nigeria’s Fast Moving Consumer Goods (FMCG) giants. The stock closed at N1615 on Friday’s trading session on the NSE. The stock is trading at a Price Earnings ratio of 77.96 times earnings.

Nestle makes our watch list this week, by virtue of its qualification date is on the 4th of May. Investors who hold the stock by this date will get dividends.

Consolidated Hallmark Insurance

Consolidated Hallmark Insurance is a composite insurance firm. The stock closed at N0.32 on Friday’s trading session. The company declared a dividend of N0.02 per share, and the qualification date is May 4, 2018.

The stock makes our watch list this week by virtue of its qualification date. Stocks tend to rally as their qualification date approaches, as investors position for dividends.

Qualification date is 4th of May.

Pharmadeko

Pharmadeko closed at N2.25 on Friday’s trading session on the Nigerian Stock Exchange (NSE) and the company is trading at 45 times earnings. The company declared a dividend of N0.05 per share for the year ended December 2017. Qualification date is 4th of May.

Pharmadeko makes our watch list this week by virtue of its qualification date being the 4th of May this week. Stocks tend to rally as their qualification date approaches

 

 

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com

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