17 November 2012

Kenya: Safaricom Targets Sh5 Before End of Year

The Nairobi All Share edged 0.07 points lower to close at 92.59. The Nairobi NSE20 eased 4.5 points to close at 4155.99. Equity Turnover was 474.188m. Nation Media has set a fresh 52 month high. Kenya Airways has rebounded 10.714% since the 8th of November. LongHorn closed limit down.

In Commercial and Services

Safaricom was the most actively traded share at the Nairobi Securities Exchange and firmed 1.09% to close at 4.65 and traded 31.151m shares worth 145.579m, which was 32.46% of the total volume traded during todays session.

Safaricom is +65.084% on a total return basis in 2012 and sits 3.125% below sits 3.125% below its 24 month closing high of 4.80 from 9th through 12th November. Safaricom targets levels above 5.00 through year end.

Nation Media Group traded 2nd at the exchange and rallied 1.72% to close at at 237.00 which is a fresh 52 month closing high. TPS Serena traded 494,500 shares worth 19.285m and all at 39.00 +0.65%.

TPS Serena has reversed the Kampala Serena into its listed company and has a diversified estate of properties. TPS Serena trades on an 8.647 trailing PE but reported an H1 profit after tax decline of -35.1%.

Kenya Airways rallied 1.22% to close at 12.40 and traded 195,400 shares. Kenya Airways is now 0.401% away from the level it was at before the release of its H1 results and has rebounded 10.714% since the 8th of November.

The sharp snap-back is confirming that the price was oversold and that we have have seen a 'blow off bottom' this month and on 5th November through 8th November. LongHorn Kenya fell by its daily limit to close at 9.00 -10.00%

Among banks

Kenya Commercial Bank traded 3rd at the exchange and closed unchanged at 30.25. The weighted average was 30.48 signalling the price is pointed higher. KCB is +90.5044% on a total return basis and these levels are 53 month highs and 2.826% off an all time high.

Standard Chartered firmed 0.427% to close at 235.00 and traded 3,000 shares the day after releasing Q3 2012 earnings where Q3 2012 profit before tax increased +68.224% and Q3 PAT increased +66.622%. Standard Chartered trades on a trailing PE of 11.889 and looks plain compelling on a Forward PE Basis. COOP Bank eased 2.788% to close at 12.20 and traded 627,500 shares.

Centum closed unchanged at 12.20 and traded 2.592m shares worth 31.639m. Centum released H1 earnings recently where H1 profit before tax increased +1.5701% and H1 earnings per Share +1.68%. Centum trades on a PE of 6.816 and has retreated 9.629% in 2012.

In Industrial and Allied

EABL traded 4th at the exchange and eased 0.413% to close at 241.00 and traded 137,200 shares worth 33.151m. EABL is +45.058% on a total return basis in 2012 and is a shilling off its all time closing high struck on November 12th through November 15th. 2 BAT traded 65,700 shares worth 29.565m all at 450.00 and unchanged.

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