Southern Province Cement Co.’s net profit for Q3 2019 of SAR 90.3 million fell below Riyad Capital’s estimates and average street estimates of SAR 104 million and SAR 105 million, respectively, the brokerage firm said in a recent earnings note.
The firm remained “neutral” in Southern Cement’s shares, and lifted the target price per share from SAR 60 to SAR 61.
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