Transcorp Hotels Market Value Rises Ahead of Q3 Earnings
Transcorp Hotels Plc saw positive price movement in the equities segment of the Nigerian Exchange ahead of the company’s third quarter earnings release.
According to data from the Exchange, the hospitality company’s share price rose to N97 due to fresh bargain hunting, from N90 at the beginning of the trading session last week.
Analysts review showed that at the current market price, the hospitality company is trading at less than 5% discount to its 52 week high.
Transcorp Hotels share price hit 52 week high of N102 earlier in the year when the market recorded strong investors positioning in hospitality name.
Some analysts said they expect momentum to pick up after the third quarter earnings release. On Friday, the market priced Transcorp Hotels’ 10.242 billion shares outstanding for N993.525 billion.
In a regulatory filing, Transcorp Hotels told the Nigerian Exchange Limited and the investing public that the third quarter, 2024, unaudited financial statements would be approved by the Board of Directors on Friday, October 11, 2024.
A slew of Broadstreet analysts expect the company’s earnings to stay on the growth track with double digit revenue and profitability projection for the nine-month period in 2024 financial year. #Transcorp Hotels Market Value Rises Ahead of Q3 Earnings
