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Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 3:23pm On Oct 17, 2018 |
onegentleguy:Many people have raised a red flag on wapco I equally posted a comment on red flag signals. WAPCO n Oando fit into those companies that expand aggressively without having the means. Every year, dz good for nothing company will be racing preferential shares, bonds commercial papers. All in the name of expansion. Dangote actually played a smart one on this company by taken makanju and some of their technocrats. Since makanju left, dz company has never be d same. A company that dangote met in business could no longer rival ccnn. What a pity? Wapco is sinking in debts. Too late to catch up.... Wapco heading southwards @ km N10 to 15 |
Re: Nigerian Stock Exchange Market Pick Alerts by aremso(m): 3:33pm On Oct 17, 2018 |
Godlylifeoneart: fear of dangote is what is driving them crazy |
Re: Nigerian Stock Exchange Market Pick Alerts by OBAGADAFFI: 4:20pm On Oct 17, 2018 |
Godlylifeoneart: Internal politics and Mismanagement is WAPCO major problem. |
Re: Nigerian Stock Exchange Market Pick Alerts by rahjan: 4:32pm On Oct 17, 2018 |
rahjan: Please someone should help me explain |
Re: Nigerian Stock Exchange Market Pick Alerts by DeRuggedProf: 4:38pm On Oct 17, 2018 |
Godlylifeoneart: Are there armed robbers @ Km N10 to 15? I will send you with FSARS to clear the way. This company is only worth N3.5 - N5.0 You don't need all those complex valuation formulae. Just ask yourself, after I buy the shares, will they stop asking me to pay interest (rights issues) on the purchased units? |
Re: Nigerian Stock Exchange Market Pick Alerts by phemmie06(m): 5:06pm On Oct 17, 2018 |
http://www.nse.com.ng/Financial_NewsDocs/23940_NIGERIAN_BREWERIES_PLC._CORPORATE_ACTIONS_OCTOBER_2018.pdf Interim dividend in pipeline |
Re: Nigerian Stock Exchange Market Pick Alerts by prof2007: 6:29pm On Oct 17, 2018 |
SOURCE: trwstockbrokers. (COMMENT - As always, due diligence is advised, before taking investment decisions). UBA PLC HALF-YEAR STOCK ANALYSIS TRW FUNDAMENTAL AND TECHNICAL ANALYSIS OF THE NIGERIAN STOCK MARKET Posted by TRW STOCKBROKERS LTD on October 15, 2018 Company: United Bank For Africa Plc Rating: Buy Current Market Price:N8.25 Year High: N13.50 Year Low: N7.00 Fair Value: N19.70 Conservative Expected Q3-EPS: N1.90 INTRODUCTION: This report reviews the half-year financial performance of United Bank for Africa (UBA). But valuation was achieved through full year performance, from where projections were made and appropriate techniques adopted. We maintain that analyst influence might be reflected in the valuation and projections accordingly. The next financial statistics currently awaited by investors from the financial institution is the nine-month performance. History reveals that the bank usually releases its third quarter earnings in the second week of October. For example, release dates for the past three financial years are: October 16, 11, and 15 in 2017, 2016 and 2015 respectively. Based upon this, we expect same between October 8 and 19, 2018. Please note that interim cash dividend trends have remained same (N0.20 per share) for the past three years, although slight variations were noticed in the payout ratio. We are of the opinion that such variations are negligible. UBA PLC DATA: Bourse :Nigerian Stock Exchange Code Name: UBA Sector: FINANCIAL SERVICES Market Classification: Premium Board Nature of Business: Commercial Banking Date of Incorporation: February 23rd 1961 Date Listed: March 31st 1970 End of Accounting Year: 31st December Website: www.ubagroup.com Registrar: AFRICA PRUDENTIAL REGISTRARS Auditor: PricewaterhouseCoopers Share Price@Relsd (N): 8.05 Earnings per Share: 1.28 Intrinsic Value(N): 19.70 Shares Outstanding: 34,199,421,368 Market Capitalisation: 275,305,342,012 COMPANY FIGURES: Gross Earnings for the half year improved over the corresponding year by 15.80%, from N222.71 billion to N257.91 billion. Interest Income stood above that of similar period of 2017 by 20.87%; at N187.29 billion vs previous N154.95 billion. Interest Expense increased at a higher momentum, compared to the rate of income/ gross earnings growth, rising from N53.57 billion to N76.21 billion, representing a difference of 42.26% Having considered all expenses and incomes, N58.14 billion was reported as Profit before Tax for the period, which is only 1.06% above the N57.53 billion reported in the same period of 2017. After deducting income tax expense, the financial institution reported N43.79 billion as profit for the period vs N42.33 billion earned in 2017 half-year. In other words, profit only improved by 3.43%. Total Comprehensive Income for the period stood 42.72% below 2017 half year. A total of N30.48 billion was reported, compared to N53.21 billion. Retained Earnings grew to N165.71 billion from N149.46 billion, a 10.87% improvement within the two periods under comparison. Total Assets was valued at N4.26 trillion, a 15.65% improvement over the period. Total Liabilities were N3.77 trillion vs N3.20 trill in 2017. Total Deposits received for the period stood at N3.03 trillion, compared to N2.58 trillion in the corresponding half-year of 2017, a difference of 17.42%. Meanwhile, Loan and Advances to customers dropped marginally against the previous half-year (currently N1.55 trillion vs N1.57 trillion last year). Net Assets, on the other hand improved by a marginal 2.72% in the period under consideration. UBA PLC STATEMENT: Financial Positions 2018(Mill) 2017(Mill) % CGN Cash & Cash Equiv. with CBN 1,031,779 763,224 35.19 Gross Earnings 257,918 222,718 15.80 Interest Income 187,294 154,954 20.87 Interest Expenses 76,218 53,575 42.26 PBT 58,140 57,531 1.06 PAT 43,792 42,339 3.43 Total comp Income 30,481 53,216 -42.72 Retained Earnings 165,712 149,469 10.87 Total Assets 4,267,653 3,690,289 15.65 Total Liabilities 3,771,401 3,207,158 17.59 Total Deposits 3,039,230 2,588,247 17.42 Loans & Advances 1,553,976 1,571,842 -1.14 Net Assets 496,252 483,131 2.72 VOLATILITY RATIOS: Estimated Beta Value of UBA Plc stood above both the market and industry Average. This confirmed the volatility/patronage of its shares on the floor of the exchange. Although, this is almost irrelevant, since we analyze a financial institution whose major business is to collect deposits (mostly reported under liability). We estimate Debt to Equity ratio as 104.21%, well above the 58.79% industry average. Volatility UBA PLC INDUSTRY Beta-β 1.68 1.51 Debt to Equity 104.21 58.79 PROFITABILITY RATIOS: Interest Expense to Gross Earnings is presently estimated at 29.55%, which is 22.85% above the 24.06% estimated in the 2017 half-year result. PBT Margin stood at 22.54%, as against 25.83% last year, representing a 12.73% drop. Similarly, Profit margin dropped against prior year’s. We have estimated 16.98% margin from Gross Earnings, compared to the 19.01% previous estimate. Return on Average Equity is now 8.82%, compared to 8.76% returns achieved in the first six months of 2017. Return on Average Assets differs by 10.56%, moving from 1.15% to 1.03%. Profitability Ratios 2018 2017 %CHG Interest Expense to Gross Earnings 29.55% 24.06% 22.85% PBT Margin 22.54% 25.83% -12.73% Profit Margin 16.98% 19.01% -10.68% RoAE 8.82% 8.76% 0.70% RoAA 1.03% 1.15% -10.56% EFFICIENCY RATIOS: Gross Earnings to Total Assets was flat within the two periods compared. Gross Earnings to Equity is now 51.97%, vs 46.10% estimated in the 2017 half-year. Financial Leverage is 8.60x as against 7.64x. This is an estimate of the number of times the total assets replicates the equity, meaning that the ratio got better over the review period. It was also established that 51.13% of Total Deposit was given out as Loan and Advances during the period, 15.81% lower than the 60.73% during the first six months of 2017. Meanwhile, Loan and Advances is 36.41% of Total Assets, 14.51% lower than the 42.59% of last half year. This shows a controlled/reduced risk compared to 2017. Efficiency Ratio 2018 2017 %CHG Gross Earnings to Total Assets 6.04% 6.04% 0.14% Gross Earnings to Equity 51.97% 46.10% 12.74% Financial Leverage 8.60 7.64 12.59% Loan to Deposit 51.13% 60.73% -15.81% Loan&Adv to Total Assets 36.41% 42.59% -14.51% INVESTMENT RATIOS: Snce shares outstanding remained constant during the two periods under consideration, the estimated amount earned per units of UBA shares is N1.28, which is 3.43% above the N1.24 earned last year. P/E Ratio for the period is 1.57x, vs 1.96x in 2017. Book Value is N14.51 per share, fairly same as N14.13 last year. This confirms that the company is currently undervalued. Also confirming this fact is the Price to Book Value that is estimated below unity, proving low price against Book Value. Operating Expenses for the period is currently 29.55%, this is 22.85% above the 24.06% of 2017 half year. Investment Ratios 2018 2017 %CHG EPS 1.28 1.24 3.43% TCI/SHARE 0.89 1.56 -42.72% Earnings Yield 15.91% 12.75% 24.76% P/E-RATIO 1.57 1.96 -19.85% P/BV 0.55 0.69 -19.29% BVPS 14.51 14.13 2.72% Opex Margin 29.55% 24.06% 22.85% DIVIDEND Dividend/Share (N) 0.20 0.20 0.00% Payout Ratio 15.62% 16.16% -3.32% Sustainable Growth Rate 7.45% 7.35% 1.34% VALUATION: As noted above, our valuation explored few full years’ financials prior, projected appropriately based on our growth expectations. Thus, we have placed the price of each UBA share at N19.70. Please note that our conservative earnings expectation for the expected nine months ended September 30th, 2018 is N1.90. This is about 6.74% growth above the previous third quarter earnings (N1.78) and 48.43% improvement from the half year earnings. |
Re: Nigerian Stock Exchange Market Pick Alerts by deepsuk(f): 7:17pm On Oct 17, 2018 |
So much wrong info here I feel sorry for ppl listening to dem.... If not for work I go catch u b4 ehh The loans are reducing and Lafarge is restructuring they are the best cement company in the world...na politics dem dey use attack dem for hia.....who no who dem dem Godlylifeoneart: |
Re: Nigerian Stock Exchange Market Pick Alerts by currentprice: 7:18pm On Oct 17, 2018 |
prof2007: UBA appears cheap at currentprice cheaper than gtb but gtb would always be stock to watch based on their superb efficient on my bedsheet, GTB shows 40% discount while UBA shows 100% discount. although investors dont care about gtb discount/premium |
Re: Nigerian Stock Exchange Market Pick Alerts by deepsuk(f): 7:20pm On Oct 17, 2018 |
Chai dis tin dey look so funny...the hustle is real shina88: |
Re: Nigerian Stock Exchange Market Pick Alerts by deepsuk(f): 7:27pm On Oct 17, 2018 |
U 2 dey bash lafarge...do u know wetin restricting dey mean? The ashaka you are talking was already owned by lafarge ... Maybe u were not among the us who don chop that bull Lafarge enn is politically handicap but their cement is d best ask any builder ... D correct way to chop Lafarge bull is through commercial paper...no b d stock attacking writhing knowing pshewww onegentleguy: 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by currentprice: 7:34pm On Oct 17, 2018 |
dont know if GTB did share buy back of recent,, as against the eps of 5.03 reported i have 4.80 i also noticed retained earnings fell by 30 something % may be thatz due to the implementation of IFRS 9 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by Ugosample(m): 7:35pm On Oct 17, 2018 |
Godlylifeoneart: my prayer is that a bad management don't take over the bank because in Nigeria, any thing is possible |
Re: Nigerian Stock Exchange Market Pick Alerts by Mcy56(f): 8:29pm On Oct 17, 2018 |
deepsuk: Madam pretty, na only one you catch since all these days na. I think say dem for don plenty now......including prof and oga Chibuking. @godlylifeoneart dont mind me o. Her posts always amuses me. |
Re: Nigerian Stock Exchange Market Pick Alerts by dipoolowoo: 8:39pm On Oct 17, 2018 |
Senate Tells CBN to Stop Monthly ATM Maintenance Fee, Summons Emefiele https://www.businesspost.ng/2018/10/17/senate-tells-cbn-to-stop-monthly-atm-maintenance-fee-summons-emefiele/ FCMB to Release Q3 Earnings November 29 https://www.businesspost.ng/2018/10/17/fcmb-to-release-q3-earnings-november-29/ GTBank Announces N142b PAT, N5.03k EPS in Q3 2018 https://www.businesspost.ng/2018/10/17/gtbank-announces-n142b-pat-n5-03k-eps-in-q3-2018/ |
Re: Nigerian Stock Exchange Market Pick Alerts by Agbalowomeri: 10:34pm On Oct 17, 2018 |
The normal behavior of the crowd is to mill around, make noise, and go nowhere. Once in a while a crowd becomes excited and explodes in a rally or a panic, but usually it just wastes time |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 4:56am On Oct 18, 2018 |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 6:47am On Oct 18, 2018 |
https://www.pdfdrive.com/the-subtle-art-of-not-giving-a-Bleep-e60365110.html Spice up your day with dz self motivating novel |
Re: Nigerian Stock Exchange Market Pick Alerts by edwardaigb: 7:11am On Oct 18, 2018 |
phemmie06: Someone should help me look into this company. The ogas, pls help. |
Re: Nigerian Stock Exchange Market Pick Alerts by GB2G: 8:19am On Oct 18, 2018 |
Agbalowomeri: Agba, pls give us clarity on the above. |
Re: Nigerian Stock Exchange Market Pick Alerts by currentprice: 9:22am On Oct 18, 2018 |
oyel hav lost it, strong support broken. likely to go deep days ahead. anyway NSE has disconnected with oyal long time ago. no shaken |
Re: Nigerian Stock Exchange Market Pick Alerts by musty00: 9:51am On Oct 18, 2018 |
http://www.nse.com.ng/Financial_NewsDocs/23943_ZENITH_BANK_PLC_FINANCIAL_STATEMENTS_OCTOBER_2018.pdf Nice one! 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by yok: 9:59am On Oct 18, 2018 |
NIGERIA STOCK MARKET GENERAL COMMENT/MSCI NIGERIA PORTFOLIO MOVEMENT - AS AT 17 OCTOBER 2018 – DO YOU STILL WANT TO DO BUT AND HOLD? MSCI Nigeria’s portfolio HAS FORGOTTEN Nigeria for now. Average daily trading volume is still low, looking at the 10 day moving average figures. Want to say again, there is no big incentive to be bullish about the market. However, I am not averse to cashing out some of my gains as soon as I see 20%. Market behaved as expected, the All share index closed lower, than our expected low for the day giving up the previous day’s gain (nothing to worry about for those of us following the market closely). For today expected High is 32,633.39 [/b]low at[b] 32330.11. For the people lucky to be in[b] Cutix, congrats[/b]. However some of us are likely to bail out part of our holdings at around NGN2.50. I need money for CAVERTON, only is if can get below NGN2.00. It has been fairly long since I invested money in the market, by my own standard. My mind is getting made up that I will not do buy and hold again. If I look at the so many bullets in terms of falling prices that I have witnessed and escaped. Stocks like John Holt, Unilever (stock valuation problem), and all those liquidated banks from the days of Afribank etc. The kind of traders/investors that the market is breeding now are going to be nearly at par with the foreign investors (pull out on markets falling and come to market only when there is up trend). Just like somebody pointed out on Transcorp, the handwriting on the wall is telling us clearly who is in control of that organisation, the only PVC available to the small investors is to bail out when things are becoming cloudy and come in when there seems to be cash lying on the street. Simple but painful. In view of the fact that some additional information on our postings will now be added, you can check our twitter handle “Target Technical Analysis”. Caution: This is for information purpose only. Data used are assumed to be correct. However, you may want to verify the data from an appropriate source. Also, Institutions can afford to suffer big losses without going burst compared with an individual, you cannot follow them blindly (you need to at least have some knowledge/your own plan). N:B 1. Due to the fact so many new people are coming to this forum and may not know this use of following the “big monies that move markets”, I will be indicating why/how to use the information. This will be a permanent future of my post to reduce some comments which may prevent the people that understand the system from confusion by people who have not followed how this started. My comment for today for anybody who doubts the efficacy of following the fund is to look at my recent recommendations for the past 2 months. 2. The fund will still hold some equity, the terms of service states this. Thus no matter the condition of the market, it will not liquidate to Zero. This is an equity fund investing in the Nigeria market. 3. You cannot bear losses like the fund. The pocket of the fund is too deep. Therefore, as an individual you are not suppose to be in the market during the stock market crash. Before or during the crash, reduce your holding. 4. If you are seeing this type of data on MSCI for the first time. You may need to verify the figures. Go to my previous posts (https://www.nairaland.com/yok/posts), you will see the various sources where the data can be verified. |
Re: Nigerian Stock Exchange Market Pick Alerts by currentprice: 9:59am On Oct 18, 2018 |
Re: Nigerian Stock Exchange Market Pick Alerts by fxuser: 10:01am On Oct 18, 2018 |
Agbalowomeri: lolx local noise makers |
Re: Nigerian Stock Exchange Market Pick Alerts by rebekah2011(m): 10:02am On Oct 18, 2018 |
EPS 4.58 currentprice: 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by fxuser: 10:04am On Oct 18, 2018 |
currentprice: 50% retracement shud take us to ard $74 level , meanwhile bros Emefiele is blowing the reserves from now till election by fire by force to defend naira ! Down over $1bln under 15 days . . umm #nbst |
Re: Nigerian Stock Exchange Market Pick Alerts by fxuser: 10:08am On Oct 18, 2018 |
currentprice: d big boys on target for N200 bln FYE . . #ChopUrMoney |
Re: Nigerian Stock Exchange Market Pick Alerts by fxuser: 10:14am On Oct 18, 2018 |
Dangcem - early vol on higher price umm - d index support is leaning on dangcem finding support here ! |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 10:18am On Oct 18, 2018 |
zebi 12% reduction in gross earnings,12 % increase in PAT.where is our fedilis abeg. |
Re: Nigerian Stock Exchange Market Pick Alerts by stcool(m): 10:18am On Oct 18, 2018 |
fxuser: Very much on point FYE 200 Billion in the pipeline...Guide your GTB & Zenith bank shares against bargain hunters |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 10:33am On Oct 18, 2018 |
currentprice: CP what’s the fair price of this oga now, judging by this latest.. |
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