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Nigerian stocks reported their third straight week of gain last week, driven by gains from oil & gas equities. All the sector indexes appreciated during the week, taking the year-to-date return to 6.8 per cent.
Investor confidence has been strong in the market since the beginning of the year, marked by high buying interest across sectors.
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“Early-year portfolio repositioning and fresh inflows are likely to sustain demand, particularly for fundamentally strong stocks with clear earnings strength and attractive dividend prospects as investors position ahead of full-year earnings releases,” said analysts at Meristem Securities in their outlook for the week.
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, with the expectation 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.
NEM
NEM Insurance tops this week’s list for its strong fundamentals and for trading below its intrinsic value.
The net profit ratio (NPR) of the insurer is 21.2, while the price-to-earnings (PE) ratio is 4.6x. Its relative strength index (RSI) is 63.
First HoldCo
First HoldCo appears on the pick for trading below its intrinsic value. The NPR of the financial services group is 16.5, while the PE ratio is 3.5. The RSI is 71.6.
Africa Prudential
Africa Prudential makes the selection for its sound fundamentals. The company’s NPR is 36.5 per cent, while the PE ratio is 20.8x. Its RSI is 58.6.
NASCON
NASCON makes the list for its strong fundamentals. The NPR of the food company is 19.6, while the PE ratio is 10x. Its RSI is 59.4.
Fidson
Fidson makes the cut for its fairly strong fundamentals and for trading below underlying value. The company’s NPR is 8.8 per cent, while the PE ratio is 16. The RSI is 84.3.
