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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