₦airaland Forum

the recapitalisation of insurance coys has been cancelled. this is not good cos the confusion in the insurance sector is gonna continue.
i hear all mergers have been cancelled.

fcmb looks like a good offer.forecast eps of 1 in 2008 and that is attainable with their triple digit growth rate, should be 26 naira in 18 months time if u ask me. i think the bank is going places.

wema share holders have been protesting the delay in result according to proshare. the corporate manager says people should calm down that the results have been submitted to the CBN and would be made public soon.

@ wanajo, what was ur take on that result from university press? not bad ehn? however, loooking at their five year records profit seems to fluctuate, doesnt seem to grow steady.

on another note just thought id let evry1 know i was watching CNN over the weekend and got to business international where analysts were looking at markets in asia and how theyve grown so fast. many of these analysts said the bubble would burst soon and commented on how stocks are doing up to 25 times its current earnings and im thinking 25?? banks here are doing mid thirties. just some foodfor thought for evry1. lets not get carried away.

@ easimoni, sorry i dont have any info other than the fundamentals. thats what caught my eye. now that im definetely looking to buy i will research more and promise to keep you posted.

@ easimoni,
university press just released half year results, 95% increase in earnings, projected eps of 0.72 come march. sjould at least be 10 naira by then.

@ wanajo, yes i was a late comer in nospetco, but thank God i recoverd something. net loss was 300,000, at least i live to fight another day .
EVERY ONE PLEASE NOTE THE ADDED 3.4BN SHARES FOR BANK PHB WAS ADDED DUE TO THE PROPOSED PO, they are trying to raise 75bn. bank phb looks good but by the time those new shares are added it will at best be a long term BUY.
congratulations on page 100 of this topic. may we reach 1000 one day

Princesege:
I will like to buy the current Fidelity Bank Plc on PO. Is it a good buy at N8?
Thank you.

its a terrible buy at 8. a complete rip off, beware of this one.

been watching sitcoms all my life and the best of all time is the cosby show and seinfeld.
however, my favourite is two and a half men

access is looking pretty attractive at 20 naira. could give up to 50% returns in a few months.

@ wanajo, easimoni, my liver don dey fail me for wema oooo . it is my favorite stock and accounts for one-third of my portfolio. but the risk is becoming a bit much for me. id rather cash out and take position in diamond bank. it might not give as good a returns but at least its safe. .i hope i can raise money later on to get wema if the result is still not out.
after my loss with NOSPETCO, im through with risk taking for now.

did any1 notice that access didnt gain 5% today. that was really quick. is the momentum done already??

heard oceanic want to absorb shares to get up to 22 billion.
wouldnt be too worried though. i would expect the price to fall to about 26-28 based on this news. wont be too bad to pick up some then for the long term

BTW, easimoni, i wnated to ask you about ur analysis of berger paints .its trailing pe is not 14 but 18. its half year result last year was 45million. divided by 217.7 million shares gives half year eps of 0.2 and full year of 0.4. it is this years eps that should give eps of 0.6. and PAT of 14.

easimoni:
I  looked at my Longman results. In 2006, the FY PAT was N204M. In the 1st 6 months of 2007, it's been only N21M but that's higher than the 1st 6 months of 2006 (17.5M). It seems Longman made 91+% of it's profits in the last 6 months of the yr and has to do the same thing to match last years results. I suggest you try to find last yr's financials to see if there was some EI that was added to PAT in the 3  or 4Q last yr. Maybe there was and people have discounted the price because of it.

I know it seems we throw stones at any good idea (I certainly feel that way), but it prevents us from making huge mistakes that would seem obvious in hindsight. Let me know what you think/find.

thats been the trend for the past five years according to cashcraft. their Q4 profit always seems to account for more than 70% of its entire revenue. maybe their jobs are seasonal. will look into it but i think it may be good to wait for half year results for this current year.

@ wanajo,
pls do you know anything about longman plc. its fundamentals look solid. trailing eps of 1.3 for a stock trading at 13 naira. looks grossly undervalued. please reply asap. thank you.

@ easimoni, temmie 10. i read an article about intercontinental this week that caught the eye. from its financial history, its Q1 PAT is only 15% of its earnings for the year. based on this their PAT should be 31 billion . for a stock that has 18.9 billion shares it still yields an eps of 1.68. and a forward pe of 15. doesnt look too shabby ehn??\most analysts put PAT at 22bn cos its Q1 PAT was 4.7 billion.

@ easimoni, ur fsdh report was accurate. university press did a rights issue of 1 for 1. so it doubled their shares outstanding and the trailing eps stands at 0.364. its trailing pe is now 17. still not bad. however, i took a look at longmans figures(in the same sector) and its solid as a rock!!! trailing eps of 1.23 which gives it a current pe of 10. i checked the sec link you gave me and they have not had any offer or rights recently. looks like a good one.

@ easimoni, getting scared of wema myself. the news of beef aint too nice. will hold on till december sha.
been doing some research on university press, their trailing eps is 0.72. fantastic for a stock thats trading at 6 naira. however wanajo, said they had a rights issue but ive bin unable to find the details. looks like a stock worth watching.

frankiriri:
I don't stomach non release of results at all oh. I just exitedmy position in First inland because of it. I don't see any integrity in releasing unaudited results when the audited ones are yet to see the light of the day. WEMA is no-no for me

well first inland just released their result for 2007 today.
talk of the devil
poor result though

mee25:
ACCESS BANK closed at N20.85 today . Is it heading N27 before december

before december? home boy its heading to at least 25 by next week

@ easimoni, temmie10 and all intersted. i have found a good source of shares outstanding of all companies so we dont get confused in our calculations. go to www.meristemng.com and go to the research section to get info on shares outstanding nad year end of companies, it looks very accurate.
hope this helps

@ roughcut, rest assured i will mention any solid stock as soon as i have an inkling on it
@ easimoni, pls do u have any info on university press like i asked.?
thank you.

@ easimoni,
the berger paints has forecast eps of 0.6. so it should give a 12 naira stock as you rightly pointed out.
the chemicals and paints sector seems to be booming this year.
nigerian german, CAP ,have very solid fundamentals and now so does berger points.
BTW, easi do you know anything about university press limited. it seems to be a BUY recomendation in CSL, meristem , and its pe looks low, whats your take on it

i have always been fascinated by blogs myself, i thibk its a very good source of income.
can anyone explain how you make money from it

@ easimoni,
dividing PAT for Q1 by 159.9m, i get a first quarter eps of 0.728, so fy eps should be 2.91, you are right. also, their recent expansions means i would expect higher eps for Q2 and Q3. with such a high growth rate, and good market sentiment, a pe of 20 should be reasonable, this stock should AT LEAST doble by june next year.
fantastic fundamentals.
but easi, im concerned about the po plans, this will surely dilute their eps, although i guess better profits should come in later years to come. i hope they are not misleading us about the number of shares they have like japaul, cos i dont see any better stock in terms of fundamentals right now except maybe flour mills.
will let you know when i get more info on berger paints.
thanks for your help

@ easimoni, from the fsdh daily update, i can not locate the number of issued shares of both berger paints and costain so as to try and attempt my own calculations, how did u get the number of issued shares cos i need to be sure b4 i jump into either of them.

@ easimoni, ur da best

@ yudiyokun, you are very right, there are gems out there. two other such gems could be university press limited and b.o.c gases. also very low pes with good projections

@ easimoni, i asked you about costain earlier but you didnt answer.
what projected eps do you have??
and the same goes for berger paints . why do u see it doubling over the next year. please holla.

wanaj0:
On Oceanic, I see it as a growth stock in the medium term. There may not be that much appreciation now but in later years, it will do well. Bought at 6.00 last year and I am not regretting it.

wanajo, whats so special about oceanic in particular? what about intercontinental, recently identified as the second fastest growing bank in the world

my peace, it doesnt mean anything serious, it just means ur not gonna get ur certificate till early next year and u knew that already