Take a look at earnings forecasts disclosed by Arbah Capital

05/04/2018 Argaam

 

Arbah Capital has issued its earnings forecast for Tadawul-listed companies under its coverage for Q1 2018.

 

Among healthcare firms, the National Medical Care Co. (Care) is forecast to post a net income of SAR 27.3 million --  76 percent higher than the same period of last year. While Dallah Healthcare's net income is expected to decrease sharply by 31 percent to SAR 58.6 million. 

 

In the food industry sector, Almarai is likely to report a net profit of SAR 313.3 million -- five percent below the same quarter of 2017, while Saudi Arabia Dairy and Foodstuff Products Co. is forecast to post the steepest drop in net income of 22 percent to SAR 57.3 million.

 

Elsewhere, the research firm assigned a negative outlook to Saudi Airlines Catering Co., with a profit drop of 24 percent.

 

The table below indicates the net income estimates by Arbah Capital:

 

 Net Income Estimates by Arbah (SAR mln)

Company

Q1 Forecast

Change

(YoY)

Healthcare

Al Hammadi

28.0

--

Care

27.3

76%

Mouwasat

86.7

2%

MEAHCO

82.3

(22%)

Dallah

58.6

(31%)

 

Food Production

 

NADEC

4.7

7%

Savola

128.3

--

Almarai

313.3

(5%)

SADAFCO

57.3

(22%)

Other Sectors

Catering

92.3

(24%)

Aldrees

12.0

(18%)

Farm Superstores

6.9

(69%)

MEPCO

20.1

(518%)

Al Yamamah Steel**

11.0

(46%)

SGS

95.5

(38%)

Herfy

44.0

(17%)

Hokair Group

5.2

(123%)

SACO

31.0

1%

Fawaz Alhokair*

58.6

(26%)

Electrical Industries

11.6

9%

*For Q4 that ends on March 31

** For Q2 that ends on March 31        

 

The research firm has issued its recommendations and target price for the listed companies under its coverage.

 

Recommendations & Target Prices

Company

Recommendation

Target Price

Al Hammadi

Neutral

40.00

Care

Overweight

65.00

Mouwasat

Neutral

180.00

MEAHCO

Overweight

74.00

Dallah

Overweight

120.00

NADEC

Neutral

38.00

Savola

Neutral

45.00

Almarai

Neutral

56.00

SADAFCO

Neutral

130.00

Catering

Neutral

90.00

Aldrees

Overweight

32.00

Farm Superstores

Neutral

28.00

MEPCO

Overweight

29.00

Al Yamamah Steel

Overweight

28.00

SGS

Neutral

42.00

Herfy

Neutral

54.00

Hokair Group

Overweight

26.00

SACO

Neutral

110.00

Fawaz Alhokair*

Overweight

35.00

Electrical Industries

Neutral

27.00

 

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