Nigerian stocks are riding on a steady path of gain that they have not travelled along for quite a while, with the past week signifying the third week in a row the benchmark index would record appreciation.
The share prices of several companies are hitting their highest in 52 weeks as investor confidence firms up and more money pours into equities.
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That great start to the year could even last longer with the indication that the audited financials of four of Nigeria’s biggest lenders – Access Holdings, Zenith Bank, UBA and GTCO – which are due at the end of March, may turn out stronger, boosting their chances of announcing higher dividends.
PREMIUM TIMES has assembled some stocks with fundamentals and other potential, adopting rigorous technical approaches to save you the hassle of randomly picking equities for investment.
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The selection, a product of analytical market watch, offers a guide to entering the market and taking strategic positions in hopes that equities will reasonably increase in value with the passage of time.
This is not a buy, sell or hold recommendation but a stock investment guide. You may need to involve your financial advisor before making investment decisions.
Zenith Bank
Zenith Bank tops this week’s pick for currently trading well below its intrinsic value.
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The lender’s price-to-earnings (PE) ratio is 1.5x, its relative strength index (RSI) is 71.8 and its price-to-book (PB) ratio is 0.5x.
Access Holdings
Access Holdings makes this week’s list for currently trading below its underlying value. The financial services group’s PE ratio is 1.2x, and its RSI is 70.2. The PB ratio is 0.5.
Cornerstone Insurance
Cornerstone Insurance features in the pick for trading well below its underlying value.
The underwriter’s PE ratio is 2.3x, its RSI is 45.7 and its PB ratio is 1.1x.
NPF Microfinance Bank
NPF Microfinance makes the cut for trading below its intrinsic value. The PE ratio of the microlender is 4.4x, while its RSI is 51.3. Its PB ratio is 0.8x.
Custodian Investment
Custodian Investment appears in the pick for currently trading below its underlying value. Its PE ratio is 2.1x, while its RSI is 29.2. The PB ratio of the conglomerate is 0.8x.
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