By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-The Nigerian equities market on Wednesday rebounded driven by banking, consumer goods, oil & gas and industrial stocks which were highly sought after , gaining 0.25 percent to close at 27,880.46. “Today’s proceedings trimmed the Month-to-Date and Year-to-Date losses to 0.46 percent and 2.66 percent […]
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PZ Cussons Nig Plc: Expensive at Current Value; SELL Rating Maintained
August 24, 2016/Cordros Research PZ’s 2016FY revenue was below our forecast by 2% while PAT (-24%) came in much lower. Compared to 2015FY, revenue and PAT both declined by 5% and 53% respectively. Weak revenue (on account of low sales volume) and lower margins (driven by forex-induced cost inflation) primarily […]
GUARANTY HY’16 Update: Earnings Revised Upwards; Recommendation downgraded to HOLD
August 23, 2016/Cordros Research Guaranty Trust Bank Plc (GUARANTY) released half year result for the period ended 30 June 2016 on Wednesday (August 19, 2016). EPS (earnings per share) for the period increased to N2.74, compared to N1.88 in the previous year while RoAE (Return on Average Equity) surged to […]
