Stocks to Watch this Week, Aug 3rd 2018
The Stocks to watch this week comprises the top gainers and losers in last week’s trading session, as well as companies that released financial results after trading hours on Friday. This week as financial analysts predict about the stock, it also includes companies having corporate actions or controversy around them.
FBN Holdings stands at the tops our watch lists this week by virtue of its releasing its first quarter 2018 results after trading on Friday. Interest income decreased from N232 billion in 2017 to N225 billion in 2018. Profit before tax, however, rose from N35.6 billion in 2017 to N38.8 billion in 2018. Profit after tax also increased from N29.4 billion in 2017 to N33.5 billion in 2018. The results show improvements from the previous year which may cause some investors to take a position.
Seplat Plc. has promised to release its half of the year result on the 30th July 2018. The firm will also be holding an investor conference call after the results are released. This may wield the market in its favour.
AXA Mansard is on the watch list this week as a result of releasing its first-quarter results 2018 after trading. Gross Premium written increased from N17.9 billion in 2017 to N23.5 billion in 2018. Profit before tax fell from N2.3 billion in 2017 to N1.8 billion in 2018. Profit after tax also dropped from N2.1 billion in 2017 to N1.5 billion in 2018. Investors could decide to exit the stock in view of the drop its results were released after trading hours on Friday.
MRS Oil Plc is on the watch list by virtue of its Annual General Meeting (AGM) holding on the 1st of August, 2018. AGMs are usually an opportunity for management to brief investors on its plans for the year ahead. This may bring attention to the stock and increase its chances on the market. MRS Oil Plc was also one of the stocks to watch list recently. Check our stocks to watch for June 29th 2018 http://www.infowarelimited.com/stocks-to-watch-for-this-week-june-29th-2018/
As a result of John Holt Plc holding its Annual General Meeting (AGM) on the 2nd of August, 2018. The company has done poorly in the last decade, and shareholders would be keen on hearing from its management. There might be a possible turn around or shareholders might be willing to let go of the stock.
Cutix Plc earns a spot on this week’s watch list as a result of being last week’s biggest gainer. This stock’s rally is largely due to its declaration of a one for one bonus and N0.20 dividends. The stock could witness some attention as it gained 46% last week, and is up 117.9% year to date.
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