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Stock & Analyst Updates | |
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Tuesday, August 01, 2017 7.49AM / CardinalStone Research
Forte Oil Plc. (FO) H1'17 results - Turnover fell by 22.2% to N65.6 billion, in line with our estimate of N66.9 billion (1.8% deviation). After tax earnings rose by 84.0% to N4.1 billion, at par with our estimate of N5.4 billion (2.8% deviation).
Other Highlights:
The quarterly breakdown of FO's result is shown below;
Based on our last review, FO has a target price of N110.17 (BUY). For further information, contact research@cardinal-stone.com
Related News
1. FO Declares N4.11billion PAT in Q2'17 Results; Revenue Declines by 22.2%,(SP:N61.70k)
2. Forte Oil QI 2017; Powering The Future?
3. FO Declares N1.89 billion PAT in Q1'17 Results; Revenue Declines by 7.3%,(SP:N44.00k)
4. Forte Oil Plc raises N9bn 5year Fixed rate Bond
5. Forte Oil Plc Sustains FREE-FALL Pattern as Sell-Down Persists, 64% Fall To Date
6. FO Declares N2.23 billion PAT in Q2 2016 Result SP N175.50k
7. Dr. Mrs. Grace Ekpenyong Retires As a Non-Executive Director from the Board of Forte Oil Plc
8. Forte Oil Q1 16 - Fair value of share is N92.39 SELL
9. FO declares N954.24 million PAT in Q1 2016 Result SP N275.12k
10. MOMAN elects Forte Oil Plc GCEO Akin Akinfemiwa as Chairman
11. FO Holds 37th AGM on 22nd April 2016
12. FO Joins United Nations Global Compact Corporate Responsibility Initiative
13. Forte Oil Board approves 2015 accounts - N5.8bn PAT, N3.45k Div
14. Forte Oil Plc Holds Investors Conference; Strategizes on Diversification of Revenue Base
15. FO declares N4.29 billion PAT in Q3 15 result SP N270.00k
16. FO declares N2.53 billion PAT in Q2 15 result SP N188.00k
17. FO declares N783.1million PAT in Q1 15 result SP N204.25k
18. FO declares 250k dividend per share in 14 Audited result SP N222.00k
19. Forte Oil Plc Issues Update on Bonus Issue to apply same March 2016