Posted on

Nigeria: NNFM, Meyer, Consolidated Hallmark Top Stocks to Watch This Week

nigeria nnfm meyer consolidated hallmark top stocks to watch this week
aa logo rgba no text square

Meyer has announced an interim dividend of N1.50, more than two times the price of the stock.

The Nigerian Exchange Limited saw releases of a couple of earnings reports last week most of which were strong and promising. The mid-year earnings reports of some banks, especially the Big 5 Banks commonly called FUGAZ are due in the days ahead, which could shape the turn the market will take in the short term.

PREMIUM TIMES has assembled a number of stocks with potential, adopting key analytical approaches to save you the hassle of randomly picking equities for investment.

The selection, a product of analytical market watch, offers a guide to entering the market and take strategic positions in hopes that equities will gain value with the passage of time, particularly in the short term.

This is not a buy, sell or hold recommendation. You may have to involve your financial advisor before making investment decisions.

NORTHERN NIGERIAN FLOUR MILLS (NNFM) PLC

NNFM makes the stocks to watch this week by virtue of its declaration of an interim dividend payout of N0.15 per share to stockholders whose names appear in the company’s register of members by August 24. The cash reward is payable on September 10.

MEYER PLC

Meyer’s board of directors has announced an interim dividend of N1.50 to shareholders for every share held in the firm. That is more than two times the price of the stock, which last closed trade at N0.59 per share. The qualification date is August 16.

CONSOLIDATED HALLMARK INSURANCE PLC

Consolidated Hallmark has disclosed plans to pay shareholders an interim dividend per share of N0.02 to those who own its shares by August 13. Payment is timed for September 2.

OANDO PLC

Oando makes this week’s pick for currently trading significantly below its intrinsic value, which makes it cheap for investing. It has earnings per share (EPS) of N2.32 and a price-to-earnings (PE) ratio of 2.06.

FIDELITY BANK PLC

Fidelity Bank is at the moment trading well below its real value, which makes it cheap to invest in. It is currently priced at N2.39 per unit, has an EPS of N1.05 and a PE ratio of 2.28.