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ADES closes at highest price since debut
14/11/2023
Argaam Exclusive
AI Summary
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ADES Holding Co.’s stock rose today, Nov. 14, by over 3% to SAR 20.68, notching its highest close since debut on the Saudi Exchange (Tadawul).
Nearly 7.7 million shares were traded.
ADES hit an intraday high of SAR 20.86 today.
| Year High (SAR) | Year Low (SAR) |
| 20.86 | 14.84 |
| Highest Since Debut (SAR) | Lowest Since Debut (SAR) |
| 20.86 | 14.84 |
With today’s leap, ADES gains exceeded 50% compared to its listing price of SAR 13.50 per share.
Market Data :
| Open | 14.80 |
| Low | 14.80 |
| High | 15.13 |
| Previous Close | 14.76 |
| Change (3M) | 17.42 % |
| Change (6M) | (7.36 %) |
| Market Value | 17,048.81 |
| Avg. Volume (3M) | 2,992,342.30 |
| Avg. Turnover (3M) | 41,483,833.26 |
| Avg. Transaction (3M) | 4,864.85 |
| Change(12M) | (21.76 %) |
| YTD | (13.02 %) |
The company was listed on Tadawul on Oct. 11, 2023, at a nominal value of SAR 1 a share.
Adjustments to the capital (M Riyal) :
| Date | Type | Capital (M Riyal) | Change (%) |
| 2023 | IPO | 1,129.06 | 31.58% |
Financial Performance :
Overview :
ADES Egypt was initially established in 2002 as a joint-stock company. In 2012, the company acquired the first offshore rig to operate in Gulf of Suez in Egypt, and in 2015, it became the market leader in Egypt’s offshore market (Gulf of Suez) and expanded out of Egypt by entering the Algerian onshore market. In 2016, the company entered the Saudi market via acquiring three contracted offshore rigs from Hercules. In the same year, ADES International was established in Dubai International F...
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Financial Ratios :
| Financial Ratio | Current |
| Market Cap (M Riyal) | 17,048.82 |
| Shares Outstanding ((M)) | 1,129.06 |
| EPS ( ) (TTM) | 0.70 |
| Book Value (BV) ( Riyal) (Latest announcement) | 5.83 |
| Recurring P/E | 20.84 |
| Price/book | 2.59 |
| Dividend Yield (%) (Last Year) | 2.81 |
| Return on Average Assets (%) (TTM) | 3.68 |
| Return on Average Equity (%) (TTM) | 12.28 |
| Par Value ( Riyal) | 1.00 |
| Enterprise Value (EV) (M Riyal) | 28,910.37 |
| EV/adj EBITDA | 8.91 |
| EV/Revenues | 4.67 |
Calendar :
-
21 January
General Assembly
- -
20 February
General Assembly
- -
26 June
General Assembly
- -
15 September
Ex-dividend Date
- -
15 September
General Assembly
- -
01 October
Cash Dividend Distribution
-
Analyst Estimates :
17.68
Fair Average Price
6
Number of Recommendations
| Rating | Research firm | Current Price | Target Price | Change | |
| Neutral | Al Rajhi Capital | 18.56 | 18.20 | (1.94 %) | |
| Overweight | GIB Capital | 18.56 | 20.50 | 10.45 % | |
| Neutral | SNB Capital | 18.40 | 19.20 | 4.35 % | |
| Initiation | AlJazira Capital | 13.50 | 16.00 | 18.52 % | |
| Buy | YAQEEN | 13.50 | 16.70 | 23.70 % | |
| Initiation | United Securities Company | 13.50 | 15.50 | 14.81 % |
Call Request
Comments Analysis: