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NADEC closes at all-time high
18/02/2024
Argaam Exclusive
AI Summary
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AI Summary
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Please note that this news summary has been generated using artificial intelligence. It is recommended to review the original
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Shares of National Agricultural Development Co. (NADEC) rose 10% today, Feb. 18, to close at the highest price since listing at SAR 35.30 per share.
Nearly 5.4 million shares changed hands at a total value of SAR 187 million.
| Year High (SAR) | Year Low (SAR) |
| 35.30 | 11.34 |
| Highest Since Debut (SAR) | Lowest Since Debut (SAR) |
| 35.30 | 1.40 |
Accordingly, the stock’s full-year gains exceeded 180%.
Market Data :
| Open | 13.59 |
| Low | 13.30 |
| High | 13.59 |
| Previous Close | 13.59 |
| Change (3M) | (14.38 %) |
| Change (6M) | (22.27 %) |
| Market Value | 4,041.98 |
| Avg. Volume (3M) | 545,295.09 |
| Avg. Turnover (3M) | 7,973,982.65 |
| Avg. Transaction (3M) | 1,304.57 |
| Change(12M) | (39.23 %) |
| YTD | (27.13 %) |
The company amended its capital several times through bonus share distributions and rights issues, as follows:
Adjustments to the capital (M Riyal) :
| Date | Type | Capital (M Riyal) | Change (%) |
| 2023 | Right Issue | 3,016.40 | 196.77% |
| 2020 | Bonus Shares | 1,016.40 | 20.00% |
| 2017 | Private Offering Cancelled | 1,382.86 | 63.27% |
| 2016 | Bonus Shares | 847.00 | 10.00% |
| 2015 | Bonus Shares | 770.00 | 10.00% |
| 2014 | Bonus Shares | 700.00 | 16.67% |
| 2008 | Bonus Shares | 600.00 | 50.00% |
NADEC’s profits rose to SAR 302.1 million by the end of 2023, compared to SAR 95.5 million in 2022. Q4 2023 profits amounted to about SAR 124 million.
Financial Performance :
Overview :
National Agricultural Development Co. (NADEC) was established in Riyadh in 1978 under its former name, Haradh Agricultural and Animal Production Company. In 1981, a Royal Decree was issued establishing it as a Saudi joint-stock company with capital of SAR 400 million. The firm converted into a public joint-stock company in 1993.
Activities and Business Segment
The company’s core activities include agricultural and livestock production, agricultural land reclamation, food processing, ...
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Financial Ratios :
| Financial Ratio | Current |
| Market Cap (M Riyal) | 4,041.98 |
| Shares Outstanding ((M)) | 301.64 |
| Recurring EPS ( Riyal) (TTM) | 0.87 |
| Book Value (BV) ( Riyal) (Latest announcement) | 15.97 |
| Recurring P/E (TTM) | 15.34 |
| Price/book | 0.84 |
| Dividend Yield (%) (Last Year) | - |
| Return on Average Assets (%) (TTM) | 5.35 |
| Return on Average Equity (%) (TTM) | 7.18 |
| Par Value ( Riyal) | 10.00 |
| Enterprise Value (EV) (M Riyal) | 2,878.06 |
| EV/adj EBITDA | 4.92 |
| EV/ EBITDA | - |
| EV/Revenues | 0.83 |
Calendar :
-
19 March
General Assembly
- -
16 April
General Assembly
- -
01 April
General Assembly
-
Analyst Estimates :
34.3
Fair Average Price
1
Number of Recommendations
| Rating | Research firm | Current Price | Target Price | Change | |
| Buy | United Securities Company | 29.95 | 34.30 | 14.52 % |
Call Request
Comments Analysis: