Stocks to watch comprises the top gainers and losers of the previous week, as well as companies that released results or had corporate actions after trading hours.
Stocks to watch is not a Buy/Sell/Hold list
Guaranty Trust Bank Plc
Guaranty Trust Bank tops this week’s watchlist by virtue of a court judgment supposedly obtained by Innoson Vehicle Manufacturing Company, granting it powers to take over the bank’s assets to the sum of about N8.8 billion.
While GTBank has since issued a response, the coming week will provide details on the bank’s actions.
UAC of Nigeria Plc
UAC of Nigeria Plc has a spot on this week’s watchlist by virtue of the company releasing its audited full year 2018 results after trading hours. The company recorded a N9.4 billion loss after tax.
Though the firm will pay out a N0.64 dividend, investors may decide to sell down their holdings following the poor results.
FCMB Group Plc
FCMB Group Plc takes the third spot this week, by virtue of an investor call to be held on Tuesday, the 2nd of April, following last week’s release of its full-year 2018 audited results.
Investor calls provide opportunities for investors, and the larger community to get insight into a company’s plans for the new financial year.
Eterna Plc has a spot in this week’s watchlist by virtue of being last week’s best performing stock. The stock gained 10.42% to close at N5.30.
Investors may take positions in the stock, ahead of a dividend payment.
Fidelity Bank Plc
Fidelity Bank Plc has a spot on this week’s watchlist by virtue of being the worst performing stock last week. The stock declined by 13.08% to close at N2.06.
The drop in share price, despite the impressive results released, may be due to the bank announcing that it would pay a much lower dividend than earlier announced. A dividend of N0.22 was earlier declared, but N0.11 will now be paid.
The bank will also be holding an investor call today to discuss the FY 2018 results.
FBN Holdings Plc
FBN Holdings Plc takes the last spot on our watchlist by virtue of being the only tier one bank yet to release its full-year 2018 results. The bank typically releases its full-year results in the month of April, hence its recurrent spot on Nairametrics’ watchlist.
Dangote Flour Mills
Dangote Flour Mills has a spot in this week’s watchlist by virtue of its releasing its audited full year 2018 results, on Saturday after trading hours. The firm recorded a loss, and investors may react negatively this week.
Fidson Healthcare Plc
Fidson Healthcare Plc takes the last spot in this week’s watchlist. The company released its audited 2018 results on Sunday after trading hours and recorded a N97.4 million loss.
Investors may take a negative position towards the stock this week.