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Buy/Sell/Hold stocks for this week

Onome Ohwovoriole by Onome Ohwovoriole
May 22, 2018
in Markets, Spotlight, Stock Market
Fidelity Bank restructures its dollar debt

Nnamdi Okonkwo Chief Executive officer Fidelity Bank

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Buy/Sell/Hold is a weekly column which samples opinions on a variety of stocks. Stocks are picked from gainers and losers of the previous week, as well as analyst reports by several investment houses.

Here are the stocks on our Buy Sell or Hold list for the week ending 25th May 2018.

Continental Reinsurance: HOLD

Latest Results: Results for the first quarter ended March 2018, show that gross premium written increased from N6.5 billion in 2017 to N7.7 billion in 2018. 

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Pricing

Current Share Price: N1.50

Price to earnings ratio: 4.8X

Price to book ratio:  0.763

YTD return: 7.14%

One Year Return:  28.57%

Analysts View

 Analysts at Afrinvest have placed a REDUCE recommendation on the stock. This means that the total return on the stock is expected to be nil or negative. They set a target price of N1.40, which is below the N1.53 that the stock was at the time of the report.

Our view

Continental Reinsurance, in our view,is a HOLD. While it is trading at a PE ratio higher than peers like AIICO Insurance which is trading at 3.1 times earnings, it is at a lower multiple compared to Mansard which is trading at 12.8 times earnings.

Okomu Oil: HOLD

Latest results: Results for the first quarter ended March 20q8 show that revenue increased from N5.8 billion in 2017 to N7.3 billion in 2018. Profit before tax increased from N3.3 billion in 2017 to N3.9 billion in 2018.

Profit after tax also went up  from N3.0 billion in 2017 to N3.4 billion in 2018.

Pricing

Current Share Price: N78.40

Price  Earnings Ratio: 7.83X

Price to Book ratio:2.67

Year to date return: 15.82%

One Year return: 62.50

External View

Analysts at FBN Quest have placed a NEUTRAL rating on the stock. They have a target price of N91.5 a 16% upside from its current price of N78.4.

Our View

Okomu Oil is a HOLD in Nairametrics view. Though the stock is trading at a PE ratio of nearly twice its peer Presco,it has twice the latter’s earnings. The stock is also trading at 12.8% below its year high of N90. 

Fidelity Bank: BUY

Latest Results: Results for the first quarter ended March 2018 show gross earnings increased from N40.8 billion in 2017 to N43.6 billion in 2018. Profit before tax rose from N4.8 billion in 2017 to N4.98 billion in 2018. Profit after tax was also up from N4.3 billion in 2017 to N4.6 billion in 2018.

Pricing

Current Share Price: N2.20

Price to earnings ratio: 1.73X

Price to book ratio: 0.35

YTD return:         -10.57%

One year return:  134.78%

External View

Analysts at FBN Quest have placed an UnderPerform rating on the stock. They have a target price of N3.3 which is 26% higher than their target price of N2.7.

Analysts at Afrinvest have placed a SELL recommendation on the stock. It is currently trading above their target price of N1.76 from its prior price of N2.52 when the report was prepared. 

Our View

Fidelity Bank is a BUY to Nairametrics. The stock is currently trading at a PE ratio below peers like FCMB which is trading at 4.85 times earnings. Fidelity is also down 48% from its year high of N4.4.


This is not a buy sell or hold recommendation. Remember to consult a competent financial analyst or stockbroker if you need help with your investment decisions. 


Follow us for Breaking News and Market Intelligence.
Tags: AIICO Insurance - NewsBuy Sell or HoldNigerian Stocks
Onome Ohwovoriole

Onome Ohwovoriole

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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