Nigerian stocks fell for the fourth consecutive week last week, depreciating by 0.9 per cent following sell-off in industrial goods, oil & gas and bank stocks.
That has left the year-to-date return of the main equity index at 2 per cent, which compares to 5.4 per cent four weeks earlier.
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Looking ahead, analysts and investors will be watching out this week for the publication of companies’ outstanding audited reports, especially those of the Big 5 banks as the quarter end approaches.
PREMIUM TIMES has assembled some stocks with sound fundamentals, adopting rigorous approaches to save you the risk of picking equities at random for investment.
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The pick, a product of an analytical market watch, offers a guide to entering the market and taking strategic positions in hopes that selected stocks will record reasonable price appreciation 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 taking investment decisions.
Access Holdings
Access Holdings features on this week’s list for currently trading below its intrinsic value, making it a potentially good investment for value investors. The price-to-book (PB) ratio of the financial services group is 0.4x, while the price-to-earnings (PE) ratio is 1x. Its relative strength index (RSI) is 14.3.
Red Star Express
Red Star Express makes the cut for currently trading below its underlying value. The company’s PB ratio is 1x, while the PE ratio is 9.9x. Its RSI is 30.9.
Lasaco Assurance
Lasaco Assurance appears on the list for trading significantly below its intrinsic value. The insurer’s PB ratio is 2.4x, while its PE ratio is 2.5x. The RSI is 39.
Guaranty Trust Holding Company (GTCO)
GTCO appears in the pick for currently trading well below its underlying value. The PB ratio of the financial services group is 0.8x, while the PE ratio is 1.3x. Its RSI is 30.7.
Sovereign Trust Insurance
Sovereign Trust Insurance features in this week’s pick for trading below its intrinsic value. The PB ratio of the underwriter is 0.8x, while its PE ratio is 4.3x. The RSI is 40.5.
Ikeja Hotel
Ikeja Hotel makes this week’s list for trading below its intrinsic value. The company’s PB ratio is 0.8x, while the PE ratio stands at 6.1x. Its RSI is 39.1.
