Culled—Proshare October 31, 2017/FBNQuest Research Event: Okomu Oil reports Q3 2017 results Implications: Modest revisions to consensus estimates likely Positives: Limited to net finance cost improving from –N102m in Q3 2016 to a positive income of N65m Negatives: Weaker-than-expected topline and margins Late yesterday, Okomu Oil (Okomu) reported its Q3 […]
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Nigerian Stocks Close in Green on Improved Investors Sentiment
October 31, 2017/InvestmentOne Research The Nigerian equities market closed positive today, gaining +0.54% FIDSON (+5.00%) was the market’s best performer while FIDELITY (-6.17%) was the worst performer. However, market breadth index closed negative as 27 stocks declined against 24 stocks that gained. DIAMONDBANK (-0.98%) led the market in terms […]
ZENITHBANK: Upward Revision to 2017F Estimates; PAT and PBT to Grow y/y by 28.39% and 30.36%
October 31, 2017/Cordros Research In its recently released Q3-17 results, ZENITHBANK reported 35.19% q/q and 8.89% y/y decline in gross earnings, following higher-than-expected contraction in interest income (-30.96% q/q and +4.54% y/y, 28.87% below our estimate) and a steep decline in non-interest revenue (42.07% q/q and 16.29% y/y, ahead of […]
