Buy, Sell, Hold Stocks on our Buy Sell Hold are drawn from various analysts’ reports, as well as the top gainers and losers from the previous week. Zenith Bank: HOLD
Recent R esults : Gross earnings dipped from N745 billion in 2017 to N630 billion in 2018. Profit before tax, however, rose from N199 billion in 2017 to N231 billion in 2018. Profit after tax also rose from N173 billion in 2017 to N193 billion in 2018.
Current Share Price: N22
Price to Earnings R atio : 3.76X
Price to Book R atio : 1.08
Year to D ate R eturn : -3.7%
One Year R eturn : -4.7% External View
Analysts at United Capital have a ‘Buy’ recommendation on the stock. They have a 12–month target price of N35.70, which implies a potential upside of 61% from the stock’s price of N22 as at when the report was prepared. Our View
Zenith Bank is a HOLD in Nairametrics’ opinion.
Though the stock is trading cheaply (GT Bank its peer is trading at 5.5 times earnings), and much lower than the average PE ratio on the Exchange, the year to date decline does not give enough room for entry.
If the market continues to decline, like it has done in the last 5 days, the stock could fall below the N20 mark. FCMB: HOLD
Recent R esults:
Results for the nine months ended September 30, 2018, show gross earnings for the group increased from N118 billion in 2017 to N132 billion in 2018. This marks an 11.8% increase year on year.Profit before tax jumped from N6.8 billion in 2017 to N14.7 billion in 2018. This represents a 116% increase year on year. Profit after tax also increased from N5.4 billion in 2017 to N11.3 billion in 2018. This marks a 109% increase year on year. Current Share Price: N1.92 Price to Earnings R atio : 2.51X Price to Book R atio : 0.2 Year to D ate R eturn : 3.7% One Year R eturn : -21.53% External V iew Analysts at FBNQuest have an ‘Overperform’ rating on the stock. They have a target price of N2.90. This represents a potential upside of 56.5% from the stock’s price of N1.90, as at when the result was prepared.Analysts at United Capital have a ‘Buy’ recommendation on the stock. They have a target price of N2.50, […]
