Eterna Plc Gains 32% on Renew Interest in Oil Stock
Downstream oil and gas company Eterna Plc was among top gainers in the equities market on the back of renewed interest in oil stocks.
According to data from the Nigerian Exchange, Eterna share price rose by 32.4% week on week to settle at N29.45% on Friday, from N22.25 at the beginning of the trading session in the week.
This price uptick followed its latest earnings forecast for the first quarter of 2025 operations submitted to the Nigerian Exchange.
Eterna Plc latest positive price movement lifted the downstream oil and Gas Company’s market value to N38.407 billion on the Nigerian Exchange.
At the current market price, Eterna is trading at 25% discount to its 52-week high in the equities market. This provides a fresh entry points for new investors.
In its earnings forecast, Eterna Plc hinted the first quarter of 2025 net income would settle at N431.45 million despite hefty revenue.
Its revenue is projected to reach about N65 billion in the first three months in 2024 against N61.088 billion as costs of sales.
Hence, gross profit is estimated to print at N3.075 billion in the period. The company’s overhead consideration is expected to keep pretax profit at N756.225 million.
Eterna manufacture, market and distribute lubricants and chemicals; trade in crude and operate a network of filling stations. #Eterna Plc Gains 32% on Renew Interest in Oil Stock#
