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PEX records attractive market multiples on financial disclosures

2016-09-01

Sahem Weekly Trading Report (28-08)-(01-09)-2016

The legal period granted for the listed companies to disclose their semi-annual financial data for the year 2016 had finished with net income attributable to the shareholders of the parent company of $158 million from 47 companies out of 49 listed companies that disclosed their data. These companies achieved a growth of 17.71% than the corresponding period of 2015, while the listed companies in the services sector constituted 42.20% from total announced profits. The companies in the banking and financial services sector followed when constituted 30% from total profits, then came the companies in the investment sector by 12.80%, the industry sector by 10.36% and finally the insurance sector by 4.63%. With the decrease in prices of the total market capitalization of Palestine Stock Exchange PEX since the beginning of the year and according to the disclosed data, the PEX records average PE ratio of 10.27x and average P/BV of 1.14x, in which are considered low and very attractive market indicators compared to the recorded profit levels. Regarding the PE ratio, 4 sectors out of 5 sectors record averages below the current market average, while only one sector trades above the PEX average. Regarding the P/BV ratio, one sector trades with average P/BV below the market average, while the other 4 sectors trade with average P/BV above the PEX average.

 

Regarding the trading of the week, a lack of price movements was witnessed following the decline of liquidity of the leading stocks with the heaviest weights in Al-Quds Index. On the other hand, the stock of Palestine Investment Bank PIBC topped the PEX by market value,  when constituted 35.80% from PEX total trading value after executing a cross transaction of 2.20 million shares, to close with an increase of 3.16% compared to the previous week. The stock of the Arab Palestinian Investment Company APIC followed when its transactions were not on the same pace of previous weeks, whereby its transactions constituted 27.51% from PEX total weekly trading value. APIC declined by 1.13% to close at the level of $1.75. As for the other blue-chips, the stock of Palestine Development and Investment Company PADICO declined by 0.85% when closed at the level of $1.16, through transactions that constituted 3.17% from total trading value. On the other hand, the stock of Palestine Telecommunications PALTEL increased by 1.76% to the level of JD5.19 after transactions that constituted 9.20% from PEX total trading value.

 

On the other hand and with the declining of substantial news of the listed companies, some general news accelerate, which is turn spreads optimism everywhere. Despite being in the planning stage, but drawing policies and introducing initiatives are important for the developing of the Palestinian economy. Accordingly, the conference “Towards a new vision for the advancement of the Palestinian Economy” emphasized the importance of relying of a series of policies and intervention mechanisms, which must be put as priorities for implementing this goal. These mechanism varied in fields, while are consolidated to increase the faith in the banking and financial sector, attract the Palestinian capital from abroad, enhance the trading and investment connections between Gaza and the West Bank, continue executing and preparing the national strategies to achieve the financial inclusions, follow enhanced debt strategies for growth that support the investment in the productive sectors and decrease the debt for the consumption sectors , in addition to providing new medium and long term debt instruments.

 


 

2017-05-18
PADICO is higher than its equivalent price and the PMA is planning to issue digital currency

2017-05-16
PADICO approves distributing 5% cash dividends for the year 2016

2017-05-11
The PEX records an average PE of 11.1x in Q1 2017

2017-05-10
Manaseer Cement & Mining Company signs a partnership agreement with Sanad Construction Industries Company

2017-05-09
QUDS approves distributing 12% stocks dividends for the year 2016

2017-05-07
RSR approves distributing 7% cash dividends for the year 2016

2017-05-07
AZIZA approves distributing 18% cash dividends for the year 2016

2017-05-07
PIIC approves distributing 6% cash dividends for the year 2016

2017-05-04
Al-Quds Index increases with the end of the quarterly financial data disclosures’ season

2017-05-03
PIBC approves raising its paid-up capital to $61 million

2017-05-02
RSR reports net income of JD0.094 million in Q1 2017

2017-05-02
WASSEL posts net income of $0.14 million in Q1 2017

2017-05-02
PADICO reports net income of $4.71 million in Q1 2017

2017-05-02
AHC realizes net loss of JD0.53 million in Q1 2017

2017-05-02
ISBK posts net income of $3.04 million in Q1 2017

2017-05-02
BOP reports net income of $12.35 million in Q1 2017

2017-05-02
PID realizes net loss of JD0.01 million in Q1 2017

2017-05-02
BPC records net income of $2.92 million in Q1 2017

2017-05-02
PICO reports net income of $1.00 million in Q1 2017

2017-05-02
MIC posts net income of $0.31 million in Q1 2017

2017-05-02
JCC realizes net loss of JD0.06 million in Q1 2017

2017-05-02
JPH records net income of $1.60 million in Q1 2017

2017-05-02
GMC posts net income of JD0.25 million in Q1 2017

2017-05-02
NSC records net income of JD0.05 million in Q1 2017

2017-05-02
NCI records net income of $0.06 million in Q1 2017

2017-05-02
PRICO realizes net loss of JD0.13 million in Q1 2017

2017-05-02
ABRAJ records net income $0.08 million in Q1 2017

2017-05-02
ELECTRODE reports net income of JD0.01 million in Q1 2017

2017-05-02
PIIC records net income of JD1.70 million in Q1 2017

2017-05-02
LADAEN realizes net loss of JD 0.03 million in Q1 2017

2017-05-02
AZIZA posts net income of JD1.33 million in Q1 2017

2017-05-02
PALTEL records net income of JD18.04 million in Q1 2017

2017-05-02
AQARIYA posts net income of JD0.24 million in Q1 2017

2017-05-02
GUI reports income of $0.87 million in Q1 2017

2017-05-02
NIC posts net income of $1.54 million in Q1 2017

2017-05-02
TRUST reports net income of $1.74 million in Q1 2017

2017-05-02
TIC records net income of $0.82 million in Q1 2017

2017-05-02
QUDS posts net income of $3.94 million in Q1 2017

2017-05-02
ARAB records net income of JD0.029 million in Q1 2017

2017-05-02
PIBC posts net income of $0.98 million in Q1 2017

2017-05-02
PALAQAR reports net income of JD0.025 million in Q1 2017

 

 

 
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