Nigeria names five stocks with strong indicators — Premium Times Nigeria
In Nigeria, Premium Times Nigeria included Stanbic IBTC Holdings, Mutual Benefits Assurance, Aradel Holdings, Access Holdings and Nigerian Aviation Handling Company (NAHCO) in its weekly stock selection. The publication stressed that the list is only an investment guide and not a recommendation to buy, sell or hold securities.
Stock market performance
According to the publication, Nigerian stocks posted a return of 2.4% last week, their best result in eight weeks since July 10. The biggest factor was a 9.1% rise in oil and gas sector stocks, which was linked to renewed investor interest in Seplat Energy.
Premium Times Nigeria listed Nigeria’s planned reclassification by FTSE Russell to frontier market status in September among the positive market factors. The inclusion of 10 large companies in the FTSE Russell Frontier Index series is also expected. The publication also cited a report on Nigeria’s GDP growth of 4.4% year-on-year in the second quarter.
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Company indicators
Stanbic IBTC Holdings topped the selection. The banking group’s net profit margin stands at 34.5%, its price-to-earnings ratio is 6.3, and its 14-day relative strength index is 37.7.
For Mutual Benefits Assurance, these indicators are 11.3%, 4.7 and 47.4, respectively. The insurer is trading near its 52-week low, the publication noted.
Aradel Holdings has a net profit margin of 28.4%, a price-to-earnings ratio of 8.2 and a 14-day relative strength index of 52.8. For Access Holdings, the figures are 14.1%, 2.2 and 59.7, respectively; according to the publication’s assessment, the corporation’s shares are trading below intrinsic value. NAHCO made the list with a price-to-earnings ratio of 15.6 and a 14-day relative strength index of 14.4.
