Stock & Analyst Updates | |
Stock & Analyst Updates | |
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Sunday, August 18, 2019 /02:45PM / By Proshare Research / Header Image Credit:
Ecobank Transnational Incorporated (ETI) has seen its share price fell by 15% in three days of aggressive trading activity by traders taking strategic positions in the stock. The bank's share price dipped from N7.00 on Wednesday 14, August 2019 to N6.00 per share on Friday 16, August 2019. Furthermore, the stock has also hit its low of N6.00k in 52 weeks.
Thus, Ecobank Transnational Incorporated share price has declined by -57.14% YTD. Further analysis also revealed that the stock declined by -17.65% in 2018 as against +65.37% recorded in 2017.
The current negative market sentiment recorded on the stock seemed to further buttress the bearish performance witnessed on the stock in the year 2018.
Table 1: ETI YTD, 2018 and 2017 Share Price Performance
| 16-Aug-19 | 31-Dec-18 | YTD % Change |
ETI | 6.00 | 14.00 | -57.14% |
| 31-Dec-18 | 31-Dec-17 | 2018 % Change |
ETI | 14.00 | 17.00 | -17.65% |
| 31-Dec-17 | 31-Dec-16 | 2017 % Change |
ETI | 17.00 | 10.28 | 65.37% |
Source: NSE, Proshare Markets |
Analysis on the YTD performance of the banking stocks revealed that there is a weak market sentiment towards the banking stocks as only two of the stocks recorded growth in share price during the period under review.
STERLNBANK topped the list with an impressive gain of 27.37% and closely followed by UNION BANK with 25% growth in share price.
However, ETI topped the list of losers in the banking sector as it recorded 57.14% YTD decline in share price.
Table 2: Peer Analysis on Price Movement
Visit ETI Plc IR Page in Proshare MARKETS
Graph 1: ETI Plc – One Year Share Price Movement
Graph 2: ETI Plc – YTD Share Price Movement
Graph 3: ETI Plc – All Time Share Price Movement
Table: Unaudited Q2 2019 Results
Related News
1. ETI Announces the Appointment of Ayo Adepoju as Group Chief Financial Officer
2. ETI Announces the Appointment of Nana Araba Abban as New Group Consumer Banking Head
3. Ecobank Pay Hits N1 Billion in Transactions Value
4. Ecobank Nigeria: The Case for Restructuring, Repositioning and Retooling
5. ETI Declares N59.49bn PAT in Q2 2019 Results, (SP: N9.00k)
6. Ecobank Development Corporation Advocates “Intergenerational Wealthâ€
7. Ecobank Hosted by London Stock Exchange after Successful $500m Eurobond Issuance
8. Ecobank Transnational Incorporated $50m Eurobond Tap Issuance Oversubscribed
9. Ecobank Bags Most Admired Financial Services Brand in Africa
10. Ecobank Transnational Incorporated $50m Eurobond Tap Issuance Oversubscribed
11. ETI Issues a 5-Year $50m Senior Unsecured Bond Offering
12. ETI Stocks Soar as Foreign Portfolio Investors Return To Market
13. ETI Declares N29.66bn PAT in Q1 2019 Results,(SP:N10.45k)
14. ETI Announces Board Changes:Appoints Dr. Aasim Qureshi; Mr. Al Khalifa and Dr. Daniel Matjila Depart