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Re: Nigerian Stock Exchange Market Pick Alerts by kwallet: 5:43am On Mar 22, 2018 |
Kashif:My able Oga @Kashif, I have been searching for ur contact. I have sent several emails still no reply. Kindly contact me sir: 07083236264. Thanks a lot! |
Re: Nigerian Stock Exchange Market Pick Alerts by pluto09(m): 6:34am On Mar 22, 2018 |
yom2: I don't think you really understand what is happening in japaul. Nobody is saying you should not buy but at least you should have some knowledge of what and why you are buying . 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by Mopolchi: 6:50am On Mar 22, 2018 |
I want to buy some stocks ranging from AfriPrudential to Zenith to NB to Presco. Any advice? Dividend a strong consideration for me. |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 7:26am On Mar 22, 2018 |
Re: Nigerian Stock Exchange Market Pick Alerts by wanaj0: 7:28am On Mar 22, 2018 |
yom2: I am new in the market. I am however able to spot criminal and illegal acts from a mile. No one is against major acquisitions. Just follow the rules and ensure transparency. No need supporting illegality. JAPAUL should call an EGM/AGM and allow shareholders decide. No need for complex transactions. If Milost is interested in investing, a special private placement can be done! 2 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 7:29am On Mar 22, 2018 |
Chibuking81: You will reunite with your lost daughter and happiness will be your forever. It shall be so IJN. 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 7:30am On Mar 22, 2018 |
wanaj0: Sir, beware of stones ooo. |
Re: Nigerian Stock Exchange Market Pick Alerts by wanaj0: 7:33am On Mar 22, 2018 |
pluto09: That's how OandO started with some complex transactions that impoverished ordinary shareholders. If Milost is serious, they should invest via special placement. They can even own 90% of the company. Who buys shares at 50% premium and penalise a company if share price drops? Criminals! 4 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 7:33am On Mar 22, 2018 |
Yayira: That is how we roll. Just carry seat and wait for rice, souvenirs and we clap and go. When one is ended, we find another one and quickly crash into it before the souvenirs distribution ends. |
Re: Nigerian Stock Exchange Market Pick Alerts by Thinkbigga: 7:35am On Mar 22, 2018 |
Experts in the house, any information on the results or dividend of UBN? |
Re: Nigerian Stock Exchange Market Pick Alerts by wanaj0: 7:35am On Mar 22, 2018 |
RabbiDoracle: Use to it. Screamed when OandO started their nonsense and destroyed shareholders value. Was accused of trying to bring the price down. Emotional investing is affecting a lot of people. |
Re: Nigerian Stock Exchange Market Pick Alerts by Agbalowomeri: 7:46am On Mar 22, 2018 |
Thinkbigga: UBN will not pay dividend in the next ten years Chai this bank dealt with me. Na here I pay my school fees Nigerian managers cum criminals 2 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by wanaj0: 7:49am On Mar 22, 2018 |
ukay2: I think Zenith had their investors conference call last week. The registrar comes to AGM with register of members. They hardly check though. 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 7:50am On Mar 22, 2018 |
wanaj0: I remembered it vividly in SMN. Dem wan finish you . I was against purchase of the stock as well because it later became too complex. But today, people now understand albeit late. 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 7:52am On Mar 22, 2018 |
Agbalowomeri: |
Re: Nigerian Stock Exchange Market Pick Alerts by Agbalowomeri: 7:55am On Mar 22, 2018 |
RabbiDoracle: Na so I dey collect 1:3 bonus yearly back to back only to wake up one day dem say na wetin happen sef; that Calabar man #UBNBringBackMyMoney |
Re: Nigerian Stock Exchange Market Pick Alerts by rebekah2011(m): 8:13am On Mar 22, 2018 |
Amen RabbiDoracle: |
Re: Nigerian Stock Exchange Market Pick Alerts by rebekah2011(m): 8:14am On Mar 22, 2018 |
https://www.zenithbank.com/media/2486/group2017fye-conference_call.mp3 wanaj0: 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by wanaj0: 8:25am On Mar 22, 2018 |
RabbiDoracle: Yes ooo. There was one Morgan in particular Emotions were rising then. People got hoodwinked with the 'sweet' stories. All the oversubscription of placements. The reverse acquisitions. The listings on JSE and Toronto. The planned refinery. They ignored the huge Technical/Management fees. At a point the shareholding structure was so confusing. Then they started some very complex capital/debt raising structure. Now the TRUTH is out! As a minimum, people should know why they are buying a particular stock and have some understanding of how that company creates value! That way you know when there is a problem. For example, if Cadbury makes money from producing and selling Bournvita. When you stop seeing Bournvita in the market or in people's home, you better jump out and ask questions later! 2 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by wanaj0: 8:25am On Mar 22, 2018 |
Re: Nigerian Stock Exchange Market Pick Alerts by robobo: 8:43am On Mar 22, 2018 |
rebekah2011:Thanks much appreciated |
Re: Nigerian Stock Exchange Market Pick Alerts by TLAX: 8:45am On Mar 22, 2018 |
***ANALYST OPINION, NOT MINE*** Access Bank Plc Action/Event: Access has released audited FY17 results showing a 13% y/y decline in EPS, driven by higher loan loss provisions and operating expenses. The numbers were below our estimates by 23% and below consensus estimates by 17%. The bank proposed a total DPS of 65 kobo (40 kobo final), also below consensus expectations of 72 kobo. Asset quality deterioration is behind but catching up with industry: Credit losses increased by 57% y/y, which we attribute partly to provisioning to its 9mobile exposure, as banks with exposure to the name have had to take provisions on the name. Cost of risk increased to 1.7% from 1.2% in FY16 but lower than our expectations of 2%. The bank took additional provisions of N21.6bn in Q4:17. We expected higher impairments as the bank had been behind the curve in provisioning when compared to peers. As at 9M17, cost of risk stood at 1%. NPL ratio increased to 4.8%, ahead of our expectations of 3.5%, vs. peer average of 6.2%. NIMs declined y/y by 40bps to 5.8%, reflecting an 80bps increase in cost of funds to 5.1% during the period, as yield on assets increased by 20bps. Customer loans increased by 10% y/y and 12% in Q4:17, which we attribute partly to currency revaluation as most banks moved from the CBN rate to NIFEX rate of around N330/USD. Cost efficiency remains below peers: Operating expenses also increased by 9% y/y, as cost to income ratio increased to 62% from 58%. This was worse than our expectations of 58.9% and peer average of 45%. Derivative gains drive non-interest revenues (NIR): NIR remained positive, driven primarily by derivative gains, posting net foreign exchange trading income of N120bn. Q4:17 NIR performance was weak, declining by 41%, as the bank made foreign exchange losses in Q4:17. Sustainability on income from derivatives remains a concern, as conditions that favoured such transactions are fast changing. Nevertheless, Q4:17’s trend of fees and commissions which we see as customer generating businesses increased by 33.5% when compared to Q3:17, which could be an indication of increased economic activity, a trend we will watch in Q1:18. However fee and commission income was flat y/y. Valuation: We have a BUY recommendation in Access Bank with a TP of N13.71, however GTB and Zenith remain our preferred picks within our coverage, given stronger operating efficiency and less risk of further asset quality deterioration when compared to peers. Results conference call: The bank will host an audio conference call for analysts and investors on 26 March 2018 at 14:00 hrs Lagos (9:00hrs New York, 13:00hrs London, 15:00hrs Johannesburg). See full details on page 3. |
Re: Nigerian Stock Exchange Market Pick Alerts by TLAX: 8:47am On Mar 22, 2018 |
• Access Bank Nigeria Plc (ACCESS) released its FY-2017 results at close of trade today, showing growth in Gross earnings in the year by 20.39% to NGN459.08 billion – short of our estimates by 5.71%. PBT (-11.36%) and PAT (-13.23%) declined to NGN80.07 billion and NGN61.99 billion – missing our estimates by 17.16% and 19.28% respectively, and were below Bloomberg’s polled estimates by 12.41% and 16.26%. • Interest income (+29.35% to NGN319.85 billion) increased at a slower pace than Interest expense (+44.63% to NGN156.40 billion), resulting in a 17.47% increase in net interest income, lower than the 32.04% rise recorded in the previous year. • As a result, net interest margin dipped 40 bps to 5.80%, from 6.20% in the previous year. Asset yield was 11.30% from 11.10% in 2016, while cost of fund increased to 5.10% from 4.30% in the previous year. • NIR inched higher by 4.26% to NGN139.14 billion, supported by the surge in forex income to NGN107.93 billion, from NGN3.60 billion in the previous year, as well as marginal improvement in net fee and commission income (+3.16%). Both muted the significant declines in net trading (-160.68%) and other incomes (-59.80%). • The decline in net trading income follows a 178.38% downturn in return on derivative instruments, which dropped to a loss of NGN39.27 billion, from a gain of NGN50.11 billion in the previous year. • Provision for credit losses was higher by 57.0% at NGN34.47 billion – 63.29% higher than we expected. Accordingly, cost of risk increased to 1.70%, from 1.30% in the previous year. CAR dropped 140 bps to 21.10%, but remained well above the regulatory requirement. • The increased loan loss provision matched the 270 bps increase in the NPL ratio to 4.80%, against 2.1% recorded in the previous year. • Opex growth increased to 17.31%, from a 10.13% increase in the previous year, driven by a 23.02% and 20.82% increases in other operating expenses and depreciation and amortization respectively. • Although tax expense was 4.33% lower in absolute terms, the effective tax rate increased by 271 bps to 29.17%. • Over Q4-17, the top and bottom line performances were poor, with Gross Earnings (-20.25% q/q, -11.49% y/y), PBT (-65.67% q/q, -60.94% y/y), and PAT (-66.97% q/q, -60.99% y/y) posting declines. All three line items came short of our estimates by 22.75%, 69.84%, and 72.57% respectively. • Net Interest income (+9.23% q/q, +28.08% y/y) increased to NGN41.98 billion, despite decline in interest income (-11.89% q/q, +11.96% y/y), as interest expense (-29.72% q/q, -3.90% y/y) dipped at a faster pace. • NIR declined by 40.89% q/q and 49.89% y/y, owing to decrease in forex income to a loss position of NGN8.52 billion in the quarter, from positive positions of NGN57.43 billion and NGN57.29 billion in the previous quarter and same period in the previous year. Net trading income also plunged 120.81% q/q,a and 118.97% y/y during the quarter. • Loan impairment provision surged by 779.43% against the previous quarter to NGN21.64 billion, and was 125.05% higher than the same period in the previous year. • A dividend of NGN0.65 was declared, unchanged from the previous year, and yielding 5.53% on today’s closing price of NGN11.75. • ACCESS’ unimpressive performance is likely to trigger selloffs in tomorrow’s trading session, similar to investors’ reaction to its peers (despite broadly impressive releases) last week. |
Re: Nigerian Stock Exchange Market Pick Alerts by Agbalowomeri: 8:47am On Mar 22, 2018 |
And the analyst still gave a buy recommendation upon all the deterioration 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by rebekah2011(m): 8:50am On Mar 22, 2018 |
They must exit. So some guys must take the fall Agbalowomeri: 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by TLAX: 8:50am On Mar 22, 2018 |
Agbalowomeri: That's why i always advice people to treat analysts opinion with caution. Read for information purpose only and to resolve any divergence from your own research. For all you know the analyst may work in a company that is the market maker for Access. |
Re: Nigerian Stock Exchange Market Pick Alerts by yok: 8:54am On Mar 22, 2018 |
MSCI MOVEMENT 21 MARCH 2018/MARKET COMMENT Fund return with increased selling following the release of the 2017 result by Access Bank. Seems our waiting period for market to stabilize continues. This is period to continue watching the stock that are trading at big discount levels. On a parting note for today, I wonder what is wrong with Diamond Bank. Seems to be the black sheep of the fund’s portfolio. Caution: This information is for educational purpose only. Data used are assumed to be correct. You may need to verify the data from other independent sources if in doubt.
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Re: Nigerian Stock Exchange Market Pick Alerts by DaV8King(m): 8:55am On Mar 22, 2018 |
Yayira: Some of us dey Abuja o. Will buy 100 units just to attend. |
Re: Nigerian Stock Exchange Market Pick Alerts by Coolcash1: 9:06am On Mar 22, 2018 |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 9:11am On Mar 22, 2018 |
DaV8King:you don join bad gang. |
Re: Nigerian Stock Exchange Market Pick Alerts by mendes911: 9:21am On Mar 22, 2018 |
wanaj0: "If you are long enough in the market". That was classic. I couldn't move when I read that! |
Re: Nigerian Stock Exchange Market Pick Alerts by mendes911: 9:47am On Mar 22, 2018 |
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