MTN Nigeria, PZ Cussons, UACN top stock picks this week

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Nigerian stocks recovered lost ground last week, advancing 2.9 per cent to offset the slip recorded in the penultimate week.

The jump rode on positive market sentiment around third-quarter corporate results, evident in the massive trade volume, which more than tripled to 7.6 billion shares week on week.

The magic wand was the industrial goods sector, which, thanks to overwhelming demand for Dangote Cement’s shares, delivered a solid 14.6 per cent gain, the biggest by any of the sectors tracked by the exchange in ages.

This week, that positive tempo is expected to continue as more earnings releases hit the market.

“Nigeria’s equity market is expected to sustain positive momentum this week, supported by improved investor sentiment and bargain-hunting across fundamentally strong stocks,” analysts at United Capital said in their note to investors on Monday.

“We expect investors to favour stocks with strong earnings prospects, attractive dividend yields and sound fundamentals, while monitoring developments in the fixed-income market. Lower yields could further improve the relative appeal of equities,” they stated further.

PREMIUM TIMES has assembled some stocks with sound fundamentals, using rigorous approaches to reduce the risk of picking equities at random.

The pick, a product of an analytical market watch, offers guidance on entering the market and taking strategic positions, with the expectation that selected stocks will record reasonable price appreciation over time.

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

MTN Nigeria tops this week’s pick based on its strong fundamentals. The telco’s net profit ratio (NPR) is 14.1 per cent, while the price-to-earnings (PE) ratio is 1.6x. Its 14-day relative strength index (RSI) is 62.3.

PZ Cussons is a strong pick given its fundamentals. The FMCG company’s NPR is 12.8 per cent, while its PE ratio is 7.4x. Its 14-day RSI is 59.1.

UACN appears on the pick list because of its robust fundamentals and impressive nine-month corporate results. The conglomerate’s NPR is 3.9 per cent, while the PE ratio is 23.1x. The 14-day RSI is 71.8.

United Capital makes the selection for its promising fundamentals and its fairly outstanding nine-month financials. The investment bank’s NPR is 46.7 per cent, while its PE ratio is 8.1x. Its 14-day RSI is 50.2.

Coronation Insurance makes the cut for trading below its intrinsic value. The insurer’s NPR is 17.1x, while its PE ratio is 10.2x. Its 14-day RSI is 46.

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