Access Holdings Plc Share Price Rises to 19.25 Ahead of Earnings Release
Access Holdings Plc has seen a boost in its share price, which increased to N19.25 on Friday as investors position themselves ahead of the group’s highly anticipated half-year earnings release. The financial services group previously notified the Nigerian Exchange of a potential delay in filing its audited earnings results for the first half of the year, attributing it to an ongoing capital raise.
Despite recent market volatility, the group’s stock is currently trading at more than a 37% discount to its highest price over the past 12 months. Investors are eagerly awaiting the earnings report, which could provide clarity on the company’s financial health and possibly lead to a repricing of its shares.
In recent months, Access Holdings has faced a cooling period in the equities market, with more investors exiting than taking fresh positions. However, the recent uptick in share price signals renewed interest. According to data from the Nigerian Exchange tracked by MarketForces Africa, Access Holdings’ stock rose from N18.80 at the start of the previous week to N19.25 by the close of trading on Friday.
At the end of last week’s trading session, Access Holdings had a market capitalization of N684.245 billion, with more than 35.545 billion shares outstanding on the Nigerian Exchange platform.
The company’s market performance has been underwhelming compared to its peers in the banking sector, a trend that began following the departure of its former Group Managing Director and CEO, Herbert Wigwe. Investors are hoping that the upcoming earnings release will help improve the stock’s valuation and offer a clearer outlook for the company’s future growth.
