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Analysts rate Zenith stock good medium, long term buy

10 January, 2008 01:00:00 Anonymous
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The verdict came after a careful scrutiny of the bank’s performance which the analysts said was based on primary data provided by the bank’s financials, the Nigerian Stock Exchange (NSE) and the prospectus validated with discussions with fund managers and existing investors/stakeholders.

A cursory look at the stock performance for most of last year showed that an investor who put in N1 million in May 2006 would have reaped N2.4 million or 140 per cent by October 2007. Same investment in fixed deposit, the analysts noted, would have fetched the investor a paltry N195, 000.00 or 19.5 per cent.

Zenith shares, according to analysts, stated, also in the last 14 months, outperformed the NSE index, as it increased by 198 per cent against the exchange’s 119 per cent.

"The Bank’s shares have recorded one of the most remarkable performances in the history of corporate Nigeria" . From the IPO price of N10.90, the stock had climaxed N68.97k by August 17, 2007, a percentage increase of 532.72 and by then, the highest priced banking stock on the floor of the NSE.

Highlighting other aspect of the bank’s stock, the analysts said, "based on the financial statements for the most recent fiscal year ended June 30, 2007, Zenith Bank’s Earnings Per Share was 202k above industry average of 80k.

Comments (1 posted):

Boniface Ihinose on 21 January, 2008 05:45:44
avatar
WHAT HAS HAPPENED TO THE BONUS SHARE DECLARED LAST YEAR FOR EXISTING SHAREHOLDERS OF ZENITH BANK.
AM YET TO RECEIVE MY BONUS SHARE.

BONIFACE IHINOSE
G.P.O.BOX 36858,
DUGBE-IBADAN

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