NPFMB, NEM Insurance, Lafarge Africa top Ripples Nigeria stock watchlist

In the week that just went by, the Nigerian bourse posted losses on Monday and Tuesday, gains on Wednesday and Thursday while the market closed flat on Friday.

We have selected a group of stocks you should watch out for this week on the basis of how the market fared last week.

Ripples Nigeria Stock Watch-list is a selection of stocks monitored for viable trading or investing opportunities. An investor may casually generate a list of equities for investment purposes. But we have taken the pain to do that based on certain parameters in order to save you that hassle.

Kindly note that Ripples Nigeria stock watch-list is not a buy, sell or hold recommendation. It is advisable to consult your financial advisor before making any investment decision.

NPFMFB

NPFMB tops our list this week for a number of factors. First, its newly released First Quarter 2020 results reveal it posted over 311% growth in Profit After Tax (PAT).

Read also: Okomu Oil, Julius Berger, Ardova top Ripples Nigeria stock watchlist

Similarly, it was the best performing stock last week with 50.85% appreciation in just one week. Yet, the gain has not diminished its potential to rise further this week because its Price to Earnings (PE) ratio is still low at 5.36, meaning it is currently undervalued.

It declared a dividend of N0.20 per share during the week also.

NEM INSURANCE

NEM Insurance features on our list on the basis of its impressive Q1 results which saw PAT leap 24.6%. Its PE ratio is 2.84.

LAFARGE AFRICA

Lafarge makes our list on the back of its outstanding Q1 2020 results, which saw PAT for the period grow by roughly 157%.

MAY & BAKER

May & Baker makes our list on the account of its fairly impressive Full Year 2019 results, which saw Profit for the year grow by 22.42%.

It is proposing a dividend of N0.25 per share for shareholders. Its PE ratio is 7.51.

NASCON

NASCON makes our list this week on the basis of declaring a dividend of N0.40 per share during the week. Its PE ratio is 7.50.

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