April has been a largely bearish month for the equities market, with the NSE All Share Index down by 1.66% month to date. Here are a few stocks we will be keeping an eye on, as Q1 2018 results filter in.
First Bank
FBN Holdings is the only FUGAZ bank that is yet to release its FY 2017 financial statements. Prior records show that the bank has consistently done so in the last week of April. FY 2016 results were released on the 27th of April 2017, while FY 2015 results were released were released on the 26th of April 2016.
Though the results may have already been priced in, the quantum of dividend which could be paid, will either lead to a rally or sell-off of the stock.
Oando Plc
Oando Plc has rallied strongly since a technical suspension on the stock was lifted. Year to date, the stock is up 60.2% making it the 2nd best-performing Oil and Gas stock. Price direction this week could depend on the release of the forensic audit.
Minister of Finance, Kemi Adeosun had while defending her redeployment of the Acting SEC DG, stated that the audit report was ready but the ministry and other regulators needed to deliberate on it.
Seplat Plc
Seplat closed Friday’s trading session at a year high of N737.10 and is up 17% year to date. While the board, in a notice to the NSE, stated that it had approved the company’s result and payment of a dividend, it did not specify the amount. The stock could witness further interest from investors this week.
Fidelity Bank
Fidelity Bank has been recurrent on our stocks to watch this week as the market awaits its FY 2017 and Q1 2018 results. Q3 2017 results showed a massive improvement from the prior year and the bank could raise its dividend payout.
Access Bank Plc
Tier one peers, GT and Zenith, have already kicked off the release of Q1 2018 results and Access is usually not far behind going by precedence. Access Q1 2016 results were released on April 25th, 2016, while its Q1 2017 results were released on April 27th, 2017.
UBA Plc
UBA Plc could release its Q1 2018 results this week going by precedence. Q1 2016 results were released on April 19th, 2016, while Q1 2017 results were released on April 27th, 2017.
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