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Markets

Buy/Sell/Hold: Fix your eyes on these stocks for next week

Stocks on our Buy/Sell/Hold list are picked from the gainers and losers of the previous week.

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Buy Sell Hold Stocks, This is why you need international stocks in your portfolio

Stocks on our Buy/Sell/Hold list are picked from the gainers and losers of the previous week, as well as various analyst reports.

PZ Cussons Nigeria: SELL

Recent results

Results for the first quarter ended August 2018 show that revenue fell from N18.5 billion in 2017 to N15.8 billion in 2018. The company’s losses worsened year on year from N181 million in 2017 to N204 million in 2018.

Price Information

Current Share Price: N11.40
Price to Earnings ratio: 11.89X
Price to Book ratio: 1.08
Year to date return: -44.46%
One Year return: -48.19%

External View

Analysts at United Capital have a Buy rating on the stock. They have a one year target price of N20.6. This represents a potential upside of 93.4% from the stock’s price of N10.7 as at when the report was prepared.

Analysts at FBNQuest have an underperform rating on the stock. They have a target price of N18.7. This represents a potential upside of 75.7% from the stock’s price of N9 as at when the result was prepared.

Our View

Nairametrics maintains its SELL recommendation on PZ Cussons, despite the stock rebounding from a low. The company has yet to state clear strategies to counter its poor string of results.

Presco: HOLD

Recent results

Results for the third quarter ended September 30, 2018, show that revenue fell from N16.9 billion in 2017 to N16.2 billion in 2018. Profit before tax dropped from N7.9 billion in 2017 to N7.4 billion in 2018. Profit after tax also dipped from N5.3 billion in 2017 to N5.2 billion in 2018.

Price Information

Current Share Price: N62.15
Price to Earnings ratio: 2.45X
Price to Book ratio: 0.78
Year to date return: -9.27%
One Year return: -5.83%

External View

Analysts at FBNQuest have a Neutral rating on the stock. They have a target price of N76.9, which represents a potential upside of 23.7% from the stock’s price of N62.2 as at when the report was prepared.

Analysts at United Capital have a 12 month target price of N76.9. This represents a potential upside of 23.7% from the stock’s price of N62.2 as at when the report was prepared.

Our View

Presco Plc is a HOLD in Nairametrics opinion, as there remains sufficient room for decline in the current bear market. The stock is down 9.27% year to date, much more lower than the All Share Index which is down 19%.

11 Plc: HOLD

Recent results

Results for the third quarter ended September 30, 2018 show revenue jumped from N88 billion in 2017 to N125 billion in 2018. Profit before tax jumped from N6.8 billion in 2017 to N11.6 billion in 2018. Profit after tax also increased from N4.5 billion in 2017 to N7.8 billion in 2018.

Price Information

Current Share Price: N160
Price to Earnings ratio: 5.34X
Price to Book ratio: 1.78
One Year return: 5.09
Year to date return: -17.78%

External Views

Analysts at FBNQuest have a Neutral rating on the stock. They have a target price of N292.4, which represents a potential upside of 77.2% from the stock’s price of N165 as at when the report was prepared.

Analysts at United Capital have a Buy rating on the stock. They have a one year target price of N184.5. This represents a potential upside of 11.8% from the stock’s price of N165 as at when the report was prepared.

Jaiz bank

Our View

11 Plc is a Hold in Nairametrics opinion, as the stock is currently trading at par with its peers such as Total Nigeria, which is trading at 6.8 times earnings.

Investors keen on taking a position, may have to wait for a further decline in price before doing so.

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 [email protected]

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Markets

US economic performance bolster Wall Street surge 

U.S. stocks made a late-session turnaround on Thursday, closing at session highs.

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U.S stocks futures rebound , cryptocurrency, ExxonMobil, JP Morgan Chase, MasterCard Up by over 10%

Following upbeat corporate earnings and signs of continuing progress in the labour market, U.S. stocks made a late-session turnaround on Thursday, closing at session highs.

After jumping around the flatline earlier in the day, the S&P 500 ended just short of a new high, while the Dow Jones Industrial Average jumped more than 300 points, setting a new high. The Nasdaq Composite gained ground as well, ending the day in the black and breaking a four-day losing streak. Earnings were a factor in the stock market’s biggest gainers, as Kellogg led the S&P 500 higher after outperforming analysts’ expectations.

Treasuries remained stable, with the 10-year yield remaining about 1.57%, a far cry from recent peaks. The Fed said in its semi-annual financial stability report that a growing appetite for risk across a variety of asset markets is stretching valuations and creating vulnerabilities in the US financial system. Meanwhile, applications for state unemployment benefits in the United States hit a new pandemic low, and separate data revealed a productivity rebound. Traders are now looking forward to Friday’s payroll figures.

Economists expect Friday’s report to show that the US economy added 1 million jobs in April, as the economy recovers from losses suffered during the coronavirus shutdowns. The non-farm payrolls report will be closely scrutinized by investors for information about the Federal Reserve’s next steps, as the central bank has said that it will continue to buy $120 billion in bonds every month until the labour market improves.

Although markets are benefiting from stronger growth in the world’s largest economy, investors are worried that a faster-than-expected recovery from unprecedented government and central bank stimulus would result in excessive inflation. The Federal Reserve remains committed to near-zero interest rates in order to achieve a complete recovery, but in the second half of this year, an announcement of a reduction in its large monthly bond purchases seems increasingly imminent.

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Cryptocurrency

Crypto aftershocks send Doge crashing by 10%

The fast-rising crypto was trading at below 60 cent posting losses of about 10% for the day on the FTX exchange.

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doge

The Crypto market is currently undergoing some form of price correction amid intensified profit-taking and fear of regulatory oversights, thereby pushing Dogecoin below the 60-cent price levels.

On the broader crypto market, for the day, about 171,444 traders were liquidated. The largest single liquidation order happened on Bybit-ETH valued at $5.98 million.

The fast-rising crypto was trading at below 60 cent posting losses of about 10% for the day on the FTX exchange, after trading near 70 cents some hours ago.

Consequently, market pundits argue that the crypto asset doesn’t have any real case use.

READ: Crypto crash: 3 major risks involved in investing in Crypto

I worry that, once the enthusiasm rolls out, there are no developers on it, there are no institutions coming in. But it’s got this moniker of the people’s coin right now,” Galaxy Digital’s Michael Novogratz said on Squawk Box.

Dark clouds seem to be building upon recent reports that the Crypto market is about to face a wave of regulatory oversights when Janet Yellen the custodian of the world’s most powerful economy stated that the United States is yet to have the needed framework to deal with a host of money laundering, terrorist financing, and consumer risk protection that crypto raises.

Also, the U.S. Securities and Exchange Commission Chair, Gary Gensler advised U.S lawmakers on providing more regulatory oversight to the cryptoverse.

“Right now, the exchanges, trading in these crypto assets, do not have a regulatory framework either at the SEC or our sister agency, the Commodity Futures Trading Commission,” said Gensler, who further added, “there’s not a market regulator around these crypto exchanges, and thus, there’s really no protection against fraud or manipulation.”

READ: Altcoins giving investors weekly returns of at least 100%

That being said, the crypto’s stellar performance over the past few months can’t be ignored as Dogecoin maximalists try to convince the world that crypto is a serious asset class with powerful billionaires like Elon Musk and Mark Cuban giving the Crypto asset endless support.

Crypto experts further anticipate that ongoing institutional interest will make it difficult to predict if the Doge bubble is ripe as they try to take advantage of its incredible bullish momentum, which could in turn, push the crypto value higher.

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