Nairobi Securities Exchange stock:
Safaricom Ltd (NSE:SCOM) sinks on heavy volume
Safaricom Ltd (NSE:SCOM) shares shed 0.58% to close the day at Sh17.10 on Friday. The shares moved between a low of Sh17.05 and a high of Sh17.25 during the day. A whopping 3.92 million shares of Safaricom were traded on Friday against the stock’s daily average of 1 million shares.
Analysts at AIB Capital have a HOLD rating and a price target of Sh15.92 on the shares of Safaricom Ltd (NSE:SCOM). Looking at the stock’s Friday closing, AIB’s price target implies that shares of Safaricom will drop before the end of this year.
Safaricom Ltd (NSE:SCOM) shares shed 0.58% to close the day at Sh17.10 on Friday. The shares moved between a low of Sh17.05 and a high of Sh17.25 during the day. A whopping 3.92 million shares of Safaricom were traded on Friday against the stock’s daily average of 1 million shares.
Analysts at AIB Capital have a HOLD rating and a price target of Sh15.92 on the shares of Safaricom Ltd (NSE:SCOM). Looking at the stock’s Friday closing, AIB’s price target implies that shares of Safaricom will drop before the end of this year.
Kenya Commercial Bank Ltd (NSE:KCB) pulls back on heavy volume
Shares in Kenya Commercial Bank Ltd (NSE:KCB) pulled back 0.63% to close Friday’s session at Sh39.50. The shares moved between a high of Sh40 and a low of Sh39 during the Friday trading. About 3.09 million shares of KCB changed hands, nearly double the stock’s average daily volume of 1.7 million shares.
Kenya Commercial Bank Ltd (NSE:KCB) recently reported a 6.1% jump in profit for 1Q2016 ended March 2016.
Investors shift 1.57 million ARM Cement Ltd (NSE:ARM) shares
Shares of cement manufacturer ARM Cement Ltd (NSE:ARM) closed flat at Sh35.50 on Friday after earlier advancing to Sh36.25 and sinking to Sh35. But a massive volume of ARM shares were traded on Friday. Investors moved 1.57 million shares of ARM compared with the stock’s daily average volume of just 230,535 shares.
Shares of ARM Cement Ltd (NSE:ARM) have moved in the range of Sh28 and Sh79.50 over the last one year. Based on Friday’s closing price, you can see that shares of ARM are hovering near their one-year low.
In case you forgot, ARM Cement Ltd (NSE:ARM) posted a massive loss of Sh2.9 billion FY2015, indicating a whopping 294% deterioration of the company’s bottom-line compared to the previous year. What caused the massive loss? The management tried to explain that expense borrowing pushed the company deep in the red.
Shares of cement manufacturer ARM Cement Ltd (NSE:ARM) closed flat at Sh35.50 on Friday after earlier advancing to Sh36.25 and sinking to Sh35. But a massive volume of ARM shares were traded on Friday. Investors moved 1.57 million shares of ARM compared with the stock’s daily average volume of just 230,535 shares.
Shares of ARM Cement Ltd (NSE:ARM) have moved in the range of Sh28 and Sh79.50 over the last one year. Based on Friday’s closing price, you can see that shares of ARM are hovering near their one-year low.
In case you forgot, ARM Cement Ltd (NSE:ARM) posted a massive loss of Sh2.9 billion FY2015, indicating a whopping 294% deterioration of the company’s bottom-line compared to the previous year. What caused the massive loss? The management tried to explain that expense borrowing pushed the company deep in the red.
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