Keep Eye on These Four Stocks This Week

March 11, 2019
financial stocks

By Modupe Gbadeyanka

Major elections in Nigeria are now over and winners and losers in the exercise, which kicked off with the presidential and National Assembly elections on February 23, 2019 and ended with the governorship and state houses of assembly polls on March 9, 2019, have emerged.

With the elections gone, investors will begin to take position and see how they can gain more from their investments in the nation’s capital market.

Analysts at Meristem Research have highlighted four equities to look out for in this trading week.

One of the stocks is Dangote Cement, which traded at N195 per unit last week. The company released its financials for the 2018 fiscal year recently, with its performance exciting investors. The stock is expected to yield 19.03 percent to hit a target price of N232.11k per unit.

Another stock on the list is Mobil Oil Nigeria, which announced last week that it would release its FY 2018 statements very soon, having had the results already approved by the board. With the company hinting that it would reward shareholders with dividend, the stock is expected to reach a target price of N199.38k per share, indicating a 17.28 percent return when compared with its current price of N170 per unit.

Also on the list is NEM Insurance, which is getting attention of investors in the market lately.

According to Meristem Research, this insurance stock currently trading at N2.40k per share should return 25.83 percent to its holders to hit N3.02k per share.

The final stock to keep an eye on this week is UBA, which is yet to release its 2018 numbers.

There is a high expectation on this stock, especially as regards dividend announcement. This is likely to push the stock 20.52 percent higher this week to reach N9.22k from N7.65k.

Last week, Wema Bank was the best performing stock, rising 11.69 percent to close at 86 kobo per share.

Following were Cutix, which rose by 9.76 percent to N2.25k per share, and Sovereign Trust Insurance, which appreciated by 8.70 percent to 25 kobo per unit.

On the flip side, Mutual Benefits Assurance topped the losers’ chart with 14.81 percent loss to end at 23 kobo per share.

PZ Cussons dropped 13.38 percent to N11.65k, while Veritas Kapital Assurance declined by 12.50 percent to 21 kobo per share.

Modupe Gbadeyanka

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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