Weekly Market Review & Stock Recommendation – July 25, 2022

By Yahya Abdulrahman All Research, Weekly Report and Stock Recommendation Comments Off

Some of our recommended stocks are mentioned below;

Ecobank Inc is estimated to have a Q2 2022 gross earnings of N496.04bn, up by 12% from N442.89bn in Q2 2021. Profit after tax is estimated to grow from N62.55bn in Q2 2021 to N65.70bn in Q2 2022. Consequently, earnings per share is estimated at N1.95. Ecobank Transnational Inc Q1 2022 results showed an increase in interest income by 12.24% from N139.11bn in Q1 2021 to N156.13bn in Q1 2022. Net interest income advanced by 4.15% from N95.35bn in Q1 2021 to N99.31bn in Q1 2022 despite a 30% rise in interest expense. Operating income advanced by 10.27% from N164.64bn in Q1 2021 to N181.54bn in Q1 2022. PBT went up by 29.07% from N40.34bn in Q1 2021 to N52.07bn in the current period. PAT grew by 25.68% to N38.32bn in the current period from N30.49bn in Q1 2021. EPS grew by 41.67% to N1.12 in Q1 2022 from N0.84 in Q1 2021. Ecobank has a BVPS of N48.03, P/BV ratio of 0.21x and P/E ratio of 2.10x.

Afriprud Plc’s result for Q2 2022 showed that Gross Earnings advanced from N1.67bn in Q2 2021 to N1.99bn in Q2 2022 by 19.29%. Revenue from contracts rose by 79.26% from N517 million in Q2 2021 to N928 million in Q2 2022 while Interest income decreased by 7.70% from N1.15bn in Q2 2021 to N1.06bn in Q2 2022. Operating profit rose by 17.99% to N1.2bn in the current period from N1.01bn in Q2 2021. Profit before tax went up by 18.82% from N972.33 million in Q2 2021 to N1.16bn in the current period. Profit after tax advanced by 13.07% to N935.78 million in the current period from N827.64 million in Q2 2021 as income tax increased by 51.74%. Consequently, Earnings per share went up by 14.63% from N0.41 in Q2 2021 to N0.47 in the current period. Afriprud has a BVPS of N4.35, P/BV of 1.30x and P/E ratio of 6.01x.

Please find here our weekly market & stock recommendation

Weekly Market Review & Stock Recommendation – July 25, 2022

Weekly Market Review & Stock Recommendation – July 25, 2022

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