shigidi:

@ easimoni, temmie10 and wanajo,
i've been paying much attention to a stock no one seems to talk about-ETI. maybe its the price tag that puts people off but in all honesty its actually the cheapest banking stock out there. current pe of 18, projected pe of 15. forecast eps of 11.5. however, i wont attach a pe of 26-28 based on its low growth rate, more like a 22-24.
anyway it should be easily a 260 naira stock. and only a billion shares so bonus issue is very likely.
i don't know why its been on suspension for such a long time though.

yodiyokun:

My guys,

What other stock is looking juicy at the moment (no public offers oo). I want to buy something this week.

I missed dansugar and crusader because of my slowness, can you imagine they have gone up about 15% in 4 days. what was I thinking!!!!!!!!!!!.

yodiyokun:

I missed dansugar and crusader because of my slowness, can you imagine they have gone up about 15% in 4 days. what was I thinking!!!!!!!!!!!.

yodiyokun:

Chei,

What was I thinking, ?

Wema get as e be ojare, but I am actually thinking of Oceanic and UBA, since their Yr end is september.

Anyone know how many shares of Oceanic and UBA are yet to be listed (from their public offer earlier this year)

Dangote sugar @ 34 dosent look too good , to what level will it appreciate, can it pass 40 , I doubt it oooo.

yodiyokun:

Chei,

What was I thinking, ?

Wema get as e be ojare, but I am actually thinking of Oceanic and UBA, since their Yr end is september.

Anyone know how many shares of Oceanic and UBA are yet to be listed (from their public offer earlier this year)

Dangote sugar @ 34 dosent look too good , to what level will it appreciate, can it pass 40 , I doubt it oooo.

NBA:

@wanaj0

Great price for Dangote Sugar at 30.62, how did you pull that one off? Did you place a price limit? I got some at 31.68.

What do you guys think about IBTC, suspension just got lifted and it started its climb.
[/quot

NBA link=topic=31554.msg1550215#msg1550215 date=1191341065:

@wanaj0

Great price for Dangote Sugar at 30.62, how did you pull that one off? Did you place a price limit? I got some at 31.68.

What do you guys think about IBTC, suspension just got lifted and it started its climb.

Placed a price limit for 31.00.

You will not get IBTC to buy. Less than a million units was sold today. I expect the bid to be over 100m!!!!!

Transcorp is worth looking at ow. it appears to have bottomed out. I expect long term investors to be taken up position now. I will wiat till the release of the 2006 result though.

easimoni:

Thinking about firing my broker. Asked them for more Crusader last week and got no response.

Crusader is still a good deal at 4.75.

yodiyokun:

Easimoni don't mind those yeye lead .

I asked for crusader last week too na so so talk talk.

My account officer now told me I have re-order everyday if they don't get it at my price.

I no fit buy crusader at 4.75, thats a bit pricey.

easimoni:

What about those of us who bought above N5. As for Lead, "the devil you know" is the only thing keeping me from jumping ship.

easimoni:

@ Yodiyokun,
WAPCO's mid-yr was 5.746B PAT. Only 12% higher than the same period last yr. With 3B shares, you get a forward EPS of N3.83. At a PE of 20, it has an outlook of ~80 in 6 months.

Ashaka's earnings are dropping and WAPCO is struggling to grow. Not enamoured with cement companies at the moment.

yodiyokun:

Wanaj0
I thought you were not a fan of Dansugar - I recall you saying somewhere else that its not a growth stock and not suitable for capital appreciation.

Any reason for the change of mind.

Easimoni,

I know it I buy either Oceanic /UBA, its to sit tight on it , thats why I am looking for suggestions. I am tired of my money sitting with my broker ojare.

yodiyokun:

Wanaj0
I thought you were not a fan of Dansugar - I recall you saying somewhere else that its not a growth stock and not suitable for capital appreciation.

Any reason for the change of mind.

Easimoni,

I know it I buy either Oceanic /UBA, its to sit tight on it , thats why I am looking for suggestions. I am tired of my money sitting with my broker ojare.

RoughCut:

yeah tell me about it , what with Ibeto cement plant opening or is it opened already? and the presido threatening to flood the market with imported cement . This can only mean one thing-share prices will soon be heading down south so i think cement stock is not looking terribly attractive at the moment.
Have a look at the Costain (WA) although from the quick scan i did at the results the PE seems high at about 72 with price of 19 but have they got juicy contracts in the pipeline? yes billions of naira worth and they have declared a handsome profit N172M i think and very few outstanding shares but i guess we need to do some number crunching but its worth watching

wanaj0:

I am not a fan of any stock really.

On Dangote Sugar, at 40.00, I will let it pass. However at 31.00 (30% discount) that is a bargain. The discussion was held when dangote was 40.00 - 42.00 range and people were still expecting further appreciation. For me, that was a no no. But it 31.00, it is a MUST BUY. At 40.00 - 42.00 it is a HOLD/SELL depending on your strategy.

I prefer Oceanic to UBA. Never trusted UBA one bit!!!!!!

RoughCut:

Even when the entry price for UBA was about N35 it was not an option for me although may be i should have bought then but it was expensive even then considering the P/E ratio. So Oceanic is it for me and possibly WEMA(speculative i dare say but looks like there's real dosh to be made still crunching numbers) but it looks cheap at the moment .Although it doesnt help they havent released anything close to a proper result in about 3 years so watching and waiting

wanaj0:

Well, you need to take and look at each company on its own merits.

WAPCO will not grow turnover that much. However they should grow profit based on the debt restructuring and improved efficiency. For half year, the profit margin was affected by gas supply disruption due to the ND crisis. Line is now fixed with gas supply restored so expect improvement in the second half of the year.

On Ashaka, similar problems. LPFO was not available so could not produce at full capacity. Hence expect a drop in turnover and profit. Trying to do some improvements on the plant. The only good thing about ASHAKA, is the huge cash reserve. So they may still be able to give 'fairly good' dividend even in the face of dwindling profit.

CCNN, for is a no no until it goes to 10.00 or thereabout.

IBETO has nothing to do with the cement industry in Nigeria. Ibeto is a marginal player. Total capacity is 1.5m tonnes. That is not enough to affect the market in the scheme of things. All the noise made by IBETO is nothing but propaganda.

wanaj0:

Never liked UBA management. From Bello-Osagie to Tony Elumelu, I am suspicious of them. For me UBA has no unique selling point. Will not complain though. Made some huge profit from it. But will never be my LONG term holding.

Oceanic is well positioned so should do well on the LONG run. Above 30.00, Oceanic is pricey so if you wnat to speculate, just look for 25% return or thereabout.

WEMA is risky. Bought @<4.00 this year so I can ride the tide. If the result is as expected, WEMA should reach 15.00. If the planned offer go ahead, then WEMA should reach 20.00. If expectations are not met, WEMA will be around 6.00.

So based on your rsk profile, make a decision.

RoughCut:

Yeah bought a lot of Oceanic during the PO(should have bought more) so i will wait for the post-suspension bull and bear run and then take the opportunity when people are dumping to acquire some more and DEFINITELY a long-term hold for me. It just looks attractive and stable
On UBA i think earlier this year they were involved in a money laundering scam and i think they were fined millions of dollars by New York financial regulators so your take on the management style is spot-on let`s just say i' don't regret not taking a position as such