Stocks to watch this week comprises the top gainers and losers in last week’s trading session, as well as companies that released financial results after trading hours on Friday. It also includes companies having corporate actions or controversy around them.
Stocks to watch is not a Buy/Sell/Hold recommendation.
FBN Holdings tops our watchlist this week by virtue of its releasing its H1 2018 results after trading hours on Friday. Interest income decreased from N232 billion in 2017 to N225 billion in 2018. Profit before tax, however, rose from N35.6 billion in 2017 to N38.8 billion in 2018. Profit after tax also increased from N29.4 billion in 2017 to N33.5 billion in 2018.
The results show a slight improvement from the previous year which could lead to some investors taking a position.
Seplat Plc will be releasing its results for the half year ended June 2018 today. The firm will also be holding an investor conference call after the results are released.
Insurance firm, AXA Mansard, is on our watch list this week by virtue of its releasing its H1 2018 results after trading. Gross Premium written increased from N17.9 billion in 2017 to N23.5 billion in 2018. Profit before tax fell from N2.3 billion in 2017 to N1.8 billion in 2018. Profit after tax also dropped from N2.1 billion in 2017 to N1.5 billion in 2018. Investors could decide to exit the stock in view of the drop in bottom line.
Capital Hotels Plc
Capital Hotels also makes our watchlist by virtue of its results being released after trading hours on Friday. Turnover increased from N2.4 billion in 2017 to N2.8 billion in 2018. Profit before tax also increased from N268 million in 2017 to N321 million in 2018. Profit after tax also increased from N182 million in 2017 to N224 million in 2018.
Investors could decide to key into the stock in view of improved performance.
Cutix Plc earns its spot in this week’s watchlist by virtue of being last week’s biggest gainer. The stock’s rally is largely due to its declaration of a one for one bonus and N0.20 dividend. The stock could witness some correction as it gained 46% last week, and is up 117.9% year to date.
RAK Unity Petroleum Co Plc
RAK Unity was the biggest loser last week, hence its having a spot on our watchlist. The stock shed 20%, closing at N0.40. Investors could decide to take a position in the stock, due to the decline.
MRS Oil Plc
MRS Oil Plc will be holding its Annual General Meeting (AGM) on the 1st of August, 2018. AGMs are usually an opportunity for management to brief investors on its plans for the year ahead.
John Holt Plc
John Holt Plc will be holding its Annual General Meeting (AGM) on the 2nd of August, 2018. The company has done poorly in the last decade, and shareholders would be keen on hearing from its management.
Ikeja Hotel Plc
Ikeja Hotel will be holding its Annual General Meeting (AGM) on the 2nd of August, 2018.