Stocks to watch comprises the top gainers and losers of the previous week as well as companies that had corporate actions after trading hours or during the week.
Stocks to watch Is not a Buy/Sell/Hold list.
FBN Holdings takes the first spot in this week’s watchlist by virtue of the company releasing its full year audited 2018 results, some hours before Friday’s close of trading.
The stock had maintained a consistent spot in the watchlists of the last few weeks since it was the only FUGAZ (tier one) bank yet to release its full-year 2018 results.
Investors reacted negatively to the relatively small dividend payout (N0.26 per share) last Friday and may maintain the same sentiments this week.
United Capital Plc
The financial services firm will hold a board meeting today to consider its first quarter 2019 results.
Ikeja Hotels Plc
Ikeja Hotels Plc will hold a board meeting on Tuesday to consider, among other items, the company’s first quarter 2019 financial statements.
Zenith Bank Plc
Zenith Bank Plc will also hold a board meeting on Tuesday, to consider, among other items, the bank’s first quarter 2019 results.
UBA will be holding a board meeting on Tuesday, to consider the bank’s Q1 2019 results.
UACN Plc has a spot on this week’s watchlist by virtue of the company’s investor call taking place on Wednesday this week.
The firm, which is one of Nigeria’s oldest conglomerates, had a poor FY 2018 results, and management would be expected to unveil strategies to counter that.
Africa Prudential, CAP Plc Portland Paints Plc
The three firms have a joint spot in this week’s watchlist, as they will be holding board meetings on Wednesday to consider their Q1 2019 results and other items.
Royal Exchange Plc
Royal Exchange Plc will hold a board meeting on Wednesday to consider the company’s audited FY 2018 and unaudited Q1 2019 results.
Guaranty Trust Bank
Guaranty Trust Bank will hold a board meeting this Wednesday to consider the bank’s first quarter 2019 results.
The bank will also be holding its Annual General Meeting on Thursday, the 18th of April, 2019. AGMs are opportunities for investors and the larger community to be briefed by management on its plans for the new financial year.
Mc Nichols Plc
Mc Nichols also takes a spot in this week’s watchlist by virtue of its Annual General Meeting holding on Tuesday, the 16th of April, 2019. The AGM will be key, as small firms as such share very little information aside from the release of results.