NADEC closes at all-time high

18/02/2024 Argaam Exclusive

Shares of National Agricultural Development Co. (NADEC) rose 10% today, Feb. 18, to close at the highest price since listing at SAR 35.30 per share.

 

Nearly 5.4 million shares changed hands at a total value of SAR 187 million.

Highest per Year (Riyal) Lowest per Year (Riyal)
35.30 11.34
Highest since listing (Riyal) Lowest since listing (Riyal)
35.30 1.40
Chart

Accordingly, the stock’s full-year gains exceeded 180%.

Market Data :

Open 30.50
Low 29.95
High 30.50
Previous Close 30.30
Change (3M) (10.68 %)
Change (6M) 4.51 %
Market Value 9,079.36
Avg. Volume (3M) 1,286,655.50
Avg. Turnover (3M) 41,060,436.80
Avg. Transaction (3M) 5,051.27
Change(12M) 34.84 %
YTD 8.08 %
Overview

The company amended its capital several times through bonus share distributions and rights issues, as follows:

Adjustments to the capital (M Riyal) :

Date Type Capital (M Riyal) Change (%)
2023 Right Issue   3,016.40 196.77%
2020 Split   1,016.40 20.00%
2017 Private Offering   Cancelled 1,382.86 63.27%
2016 Split   847.00 10.00%
2015 Split   770.00 10.00%
2014 Split   700.00 16.67%
2008 Split   600.00 50.00%
Company Action

NADEC’s profits rose to SAR 302.1 million by the end of 2023, compared to SAR 95.5 million in 2022. Q4 2023 profits amounted to about SAR 124 million.

Financial Performance :

Financial Statements

Overview :

The company was established as a Saudi joint-stock company in Riyadh in 1981. It is engaged in agricultural and livestock production, reclamation of agricultural land, food processing, and marketing and distribution of its products. The firm operates via two key business segments, the dairy and food manufacturing segment, which includes managing dairy farms, agricultural production, manufacturing of dairy and food products, including honey and date processing. The agricultural segment includes ...
Profile


Financial Ratios :

Financial Ratio Current
Market Cap (M Riyal) 9,079.36
Shares Outstanding ((M)) 301.64
EPS ( Riyal) (TTM) 1.37
Book Value (BV) ( Riyal) (Latest announcement) 12.62
Adjusted P/E (Last12) 23.49
Price/book 2.39
Dividend Yield (%) (Last Year) 0.42
Return on Average Assets (%) (TTM) 8.71
Return on Average Equity (%) (TTM) 15.85
Par Value ( Riyal) 10.00
Enterprise Value (EV) (M) 7,976.85
Ratios


Analyst Estimates :

34.3

Fair Average Price

1

Number of Recommendations

Rating Research firm Current Price Target Price Change
Buy United Securities Company 29.95 34.30 14.52 %
Estimates

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