May’s bearish pattern continued last week, as the All Share Index dropped by 1.34% last week. Year to date, the index remains positive at 5.83%.
Here are the stocks that we feel investors should keep eyes on this week. Stocks on our watchlist are drawn from the top gainers and losers of last week, and stocks having one form of corporate action or the other.
Sovereign Trust Insurance Plc
Sovereign Trust Insurance was incorporated as a limited liability company on 26 February 1980. The company commenced business on 2 January 1995 as a non-life insurer with an authorized share capital of ₦30 million and a fully paid up share capital of ₦20 million following the acquisition and recapitalization of the then Grand Union Assurance Limited.
Current Share Price: N0.26
PE ratio: 86.67x
Sovereign Trust Insurance was the biggest gainer last week with a 30% gain, hence its earning a place on our watchlist. Nairametrics believes that an investor is taking position in the stock. Thus, its upward price movement could continue next week.
Ikeja Hotels Plc
Ikeja Hotels Plc originally known as Properties Development Limited was incorporated on November 18, 1972. The company’s name was changed to Ikeja Hotels Limited in 1980. It became a public company in 1983 and assumed its present name on February 5, 1991.
Current Share Price: N1.78
PE ratio: 3.72x
Ikeja Hotels Plc makes our watchlist this week by virtue of the lifting of a 2-year suspension placed on the stock by the Nigerian Stock Exchange over the weekend. The stock could witness a significant trade volume in the coming week.
Japaul Oil and Maritime Services Plc
Current Share Price: N0.30
PE Ratio: NA
Japaul Oil and Maritime is on our watchlist for the week by virtue of being last week’s biggest loser. A base floor of N0.20 means that the stock could witness some downside this trading week.
Investors had largely keyed into the stock following the signing of an agreement with private equity firm, Milost Global, to invest $250 million. A few weeks back, Japaul terminated the said agreement.
Nestle Nigeria Plc
Nestle Nigeria Plc formally began operations in 1961, though imports date back to the beginning of the 20th century. The company’s primary activities include the distribution of food products including purified water.
Nestle Nigeria Plc also exports some of these products outside Africa. Some of its popular brands include Milo, Golden Morn, and Maggi.
Current Share Price: N1,600
P.E Ratio: 37.33x
Nestle makes our watchlist due to its Annual General Meeting (AGM) holding on the 22nd of May, 2018 at the MUSON centre, Lagos by 9am.
Dividend payment will take place the next day. The company will be paying a final dividend of N27.50 per share for the 2017 financial year.
Pharmadeko was incorporated as a private limited liability company in in 1967 as Parke-Davis Limited. In 1980 it changed its name to Pharma Deko Limited, and in 2004 to Pharma Deko Plc.
The company is into the manufacture and sale of pharmaceutical and consumer goods products.
Current Share price: N2.20
PE Ratio: 14.86x
Pharmadeko Plc will be holding its Annual General Meeting (AGM) on the 22nd of May, 2018. The company will be paying a dividend of N0.05 for the 2017 financial year, on the 23rd of May, 2018.
Infinity Trust Mortgage Bank Plc
Infinity Trust Mortgage Bank Plc was incorporated on 28th January, 2002, as Infinity Trust Savings & Loans Limited. However, it commenced business operations in Abuja, in 2003.
The bank was converted to a Public Limited Liability Company on 25th January, 2013, and changed its name to Infinity Trust Mortgage Bank Plc. Consequently, its shares were listed by introduction on the main floor of the Nigerian Stock Exchange on December 11, 2013. In 2014, it became a national mortgage Bank.
Current Share price: N1.42
PE Ratio: 26.5x
Infinity Trust Mortgage Bank will be holding its Annual General Meeting (AGM) on the 24th of May, 2018. AGMs are a key source of information regarding the future plans of a company, as well as gauging investor feedback.
Consolidated Hallmark Insurance Plc
Consolidated Hallmark Insurance Plc (formerly Consolidated Risk Insurers Plc) was incorporated on 2 August 1991.
The Company changed its name from Consolidated Risk Insurers Plc to Consolidated Hallmark Insurance Plc following its merger with Hallmark Assurance Plc and The Nigerian General Insurance Company Limited in line with the consolidation reform of NAICOM announced in 2006.
Current share price: N0.27
PE ratio: 3.99X
Consolidated Hallmark Insurance will be holding its Annual General Meeting (AGM) on the 22nd of May, 2018 and paying a dividend on the same date.
Regency Alliance Insurance Plc
The Company was incorporated on the 16th day of June 1993 as a private limited liability Company known as “Regency Insurance Company Limited” and was licensed by NAICOM to underwrite all classes of NON-Life Insurance Business. In 2005, it became a composite insurance company having obtained a life insurance license.
In 2007, the company’s name was changed to Regency Alliance Insurance Plc after a successful merger with three other companies
Current Price: N0.27
PE ratio: 8.63x
Regency Alliance will be holding its AGM on the 24th of May, 2018, hence its spot on our watchlist. Dividend, if approved will be paid on the 25th of May, 2018.
GSK Consumer Nigeria Plc
GlaxoSmithKline Consumer Nigeria Plc was incorporated in 1971. The principal activities of the company are manufacturing, marketing and distribution of consumer healthcare and pharmaceutical products.
Current Share Price: N21.25
P.E Ratio: 33.43x
GSK Consumer will be holding its Annual General Meeting (AGM) on the 24th of May, 2018. The company will pay a dividend of N7.50 on the 25th of May, if approved by its shareholders.
Fidelity Bank Plc
Current Share Price: N2.15
PE Ratio: 1.69x
Fidelity Bank will be holding its Annual General Meeting (AGM) on the the 25th of May, 2018, hence its place on our watchlist. The bank will be paying a dividend of N0.11 per share the same day, if approved by shareholders.
11 Plc (formerly Mobil Oil Plc)
Mobil Oil Nigeria was incorporated as a private company in 1951, became a public limited liability company and was listed on the NSE in 1978.
NIPCO Plc, had last year acquired a 60% stake in Mobil Oil Nigeria from Exxon Mobil of the USA in a deal valued at $300 million.
Current Share Price: N181
P.E Ratio: 8.6x
11 Plc’s qualification date is on the 25th of May, 2018, hence its spot on our watchlist for the week. The company will be paying a dividend of N8 per share.
CAP Plc, a subsidiary of UACN Plc is in the paintings and coatings business.
Current Share Price: N40
P.E Ratio: 18.69x
CAP Plc is on our list of stocks to watch this week by virtue of Friday the 25th of May, 2018 being its qualification date. Shareholders holding the stock on this day will qualify for its 2017 dividend payment. Investors could decide to key into the stock in view of this.