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

2017-05-11

Sahem Weekly Trading Report (07-11)-05-2017

Palestine Stock Exchange PEX witnessed an increase in liquidity levels this week due to executing a transaction of 0.74 million shares on the stocks of Sanad Construction Resources Company SANAD, to top the PEX in this week by 26.50%. This followed the company’s announcement of signing a partnership agreement with the Jordanian Manaseer Cement and Mining Company, to become a partner with Palestine Investment Fund PIF in SANAD. According to the agreement, Manaseer Cement and Mining Company will purchase $47 million of SANAD’s shares from the stake of ASWAQ Company for Investment Portfolios -the investment arm of the PIF in the securities sector-. On the other hand, the dividends’ entitlements for the year 2016 continued, whereby, Ramallah Summer Resorts Company RSR approved distributing 7% cash dividends, to record dividends yield of 2.59% based on the price on the entitlement date. Also, Al-Quds Bank QUDS approved raising its paid-up capital to $68.38 million through distributing 12% stocks dividends. On the other hand and with the disclosures’ completion of 46 companies out of 49 listed companies required to disclose their data by the end of the first quarter of 2017, the PEX records an average PE ratio of 11.1x and an average P/BV of 1.13x.

Regarding the data of the PEX’s sectors, the banking and financial services’ sector contributed in 31.50% from the total disclosed companies’ profits attributable to the parent companies. Whereby, 86% of the companies in the sector recorded profits by the end of Q1 2017. According the disclosed data, the average PE of the sector records 10.5x, and average P/BV hit 1.27x. This followed an increase of 25.23% in total sector’s profits attributable to the parent companies. While, Bank of Palestine BOP constitutes the lion’s share of 49.26% from the total achieved profits attributable to the parent companies in the sector. In the insurance sector, half of the disclosed companies in the sector recorded an increase in profits attributable to the parent companies in Q1 2017, while, the other half reported a decrease in profits compared to the corresponding period of 2016. In this context, the sector’s profits attributable to the parent companies grew by 37.09% in Q1 2017. According to the disclosed data, the insurance sector records an average PE of 6.2x- the lowest value among all sectors-, and records an average P/BV of 1.27x.

On the other hand, the profits attributable to the parent companies in the services sector contributed by the highest percentage of 34.53% from the total disclosed companies in the PEX, where 70% of the disclosed companies in the sector achieved profits attributable to the parent company in Q1 2017; 29% of the disclosed companies posted growth in profits, while, the remaining companies recorded a decline in profits. However, 30% of the disclosed companies realized losses in the same period, while; two companies didn’t disclose their financial results for Q1 2017 during the legal period granted by the PEX. Whereby, Palestine Telecommunications Company PALTEL’s profits contribute in 92.60% from the total sector’s profits attributable to the parent companies, in which decreased in total by 23.73% compared to the corresponding period of last year. According to the disclosed data, the sector records average PE of 11.5x, and average P/BV of 1.21x.

On the other hand, the investment sector’s profits attributable to the parent company contribute in 14.59% from the total disclosed companies’ profits attributable to the parent company, while, the investment sector’s profits attributable to the parent companies increased by 5.22% in Q1 2017, to record the lowest value of average P/BV within the sectors of 0.89x and an average PE of 16.03x. Regarding the Industry sector, it witnessed an increase in the sector’s profits attributable to the parent companies by 33.35% in Q1 2017; constituting 12.08% from total sector’s profits attributable to the parent companies, whereby, Birzeit Pharmaceuticals BPC and Palestine Poultry AZIZA achieved the highest profits, in which both contribute for 49.67% from total sector’s profits attributable to the parent companies. Accordingly, the Industry sector records an average PE of 8.8x and average P/BV of 1.09x.

 

 


 

2018-02-21
NSC posts net income of JD0.37 million at the end of 2017

2018-02-21
UCI records net income of $0.68 million at the end of 2017

2018-02-21
TIC proposes 10% cash dividends for the year 2017

2018-02-19
APC reports net income of JD1.20 million at the end of 2017

2018-02-19
PIBC reports net income of $3.91 million at the end of 2017

2018-02-19
PID realizes net loss of JD0.01 million at the end of 2017

2018-02-19
PRICO realizes net loss of JD13.49 million at the end of 2017

2018-02-19
RSR reports net income of JD0.48 million at the end of 2017

2018-02-19
NIC posts net income of $7.70 million at the end of 2017

2018-02-19
NIC posts net income of $7.70 million at the end of 2017

2018-02-19
JCC posts net income of JD0.51 million at the end of 2017

2018-02-19
ABRAJ records net income of $2.25 million at the end of 2017

2018-02-18
WASSEL posts net income of 0.06 million at the end of 2017

2018-02-18
SANAD records net income of $10.05 million at the end of 2017

2018-02-18
BPC records net income of $10.28 million at the end of 2017

2018-02-18
PADICO posts net income of $5.68 million at the end of 2017

2018-02-18
WATANIYA realizes net losses of $6.64 million at the end of 2017

2018-02-18
NCI posts net income of $0.16 million at the end of 2017

2018-02-18
AHC realizes net losses of JD1.52 million at the end of 2017

2018-02-18
AIB posts net income of $6.40 million at the end of 2017

2018-02-18
JPH records net income of $6.18 million at the end of 2017

2018-02-18
AIG posts net income of $3.12 million at the end of 2017

2018-02-18
JREI posts net income of $0.01 million at the end of 2017

2018-02-18
MIC posts net income of $3.26 million at the end of 2017

2018-02-18
LADAEN records net losses of JD0.05 million at the end of 2017

2018-02-18
PIIC records net income of JD5.50 million at the end of 2017

2018-02-18
AZIZA posts net income of JD3.18 million at the end of 2017

2018-02-18
APC proposes 50% cash dividends for the year 2017

2018-02-18
PALTEL recommends 40% cash dividends for the year 2017

2018-02-18
GUI proposes 20% stocks dividends and 10% cash dividends for the year 2017

2018-02-18
NIC proposes 25% stocks dividends and 25% cash dividends for the year 2017

2018-02-18
ELECTROODE proposes 12% cash dividends for the year 2017

2018-02-18
NAPCO proposes 5% cash dividends for the year 2017

2018-02-18
BOP proposes 13.5% cash dividends for the year 2017

2018-02-18
TRUST proposes 50% stocks dividends and 20% cash dividends for the year 2017

2018-02-15
A momentum in the dividends proposals and varied financial performance for the blue-chips

2018-02-15
TNB posts net income of $9.20 million at the end of 2017

2018-02-15
AQARIYA posts net income of JD 0.39 million at the end of 2017

2018-02-15
PALTEL posts net income of JD70.53 million at the end of 2017

2018-02-15
PALAQAR records net income of JD3.77 million at the end of 2017

2018-02-15
GUI records net income of $3.77 million at the end of 2017

2018-02-15
PEC posts net income of $8.64 million at the end of 2017

2018-02-15
GMC posts net income of JD1.78 million at the end of 2017

2018-02-15
TIC records net income of $2.19 million at the end of 2017

2018-02-15
BJP posts net income of JD1.64 million at the end of 2017

2018-02-15
ISBK records net income of $14.53 million at the end of 2017

2018-02-15
PICO reports net income of $4.79 million at the end of 2017

2018-02-13
TRUST records net income of $5.43 million at the year 2017

2018-02-13
PSE reports net income 0.68 million at the year 2017

2018-02-13
BPC proposes 2.7% stocks dividends and 20% cash dividends for the year 2017

2018-02-13
ELECTRODE posts net income JD0.07 million at the year of 2017

2018-02-12
VOIC posts net income of JD6.83 million at the end of 2017

2018-02-11
APIC reports net income of $17.44 million at the end of 2017

2018-02-08
Inactivity state in the market with the approaching end of the disclosures’ period

2018-02-08
VOIC recommends 60% cash dividends for the year 2017

2018-02-07
QUDS posts net income of $11.18 million for the year 2017

2018-02-06
ARAB reports net income of JD0.05 million for the year 2017

2018-02-05
PCMA and JSC signed memorandum of understanding

2018-02-05
BOP proposes distributing 13.5% cash dividends for the year 2017

2018-02-05
Nasdaq and Palestine Exchange sign new market technology agreement

2018-02-05
BOP reports net income of $54.00 million at the end of 2017

2018-02-01
NAPCO records net income of JD0.46 million at the end of 2017

2018-02-01
Several transactions in the PEX and the companies have started their disclosures

 

 

 
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