Riyad Capital has issued its Q4 2017 earnings forecasts and recommendations for Tadawul-listed telecom companies under its coverage.
Saudi Telecom Co. (STC) is expected to record a 12 percent year-on-year (YoY) increase in net income to SAR 2.404 billion.
Etihad Etisalat Co. (Mobily) will likely report a net loss of SAR 161 million in Q4, the brokerage firm said.
Meanwhile, Mobile Telecommunications Co. Saudi Arabia (Zain Saudi) is seen posting a net profit of SAR 2 million for the same period.
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Q4 net profit estimates (SAR mln) |
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|
Company |
Q4 2017E |
YoY Variation |
Average estimates |
|
STC |
2,404 |
+12% |
|
|
Mobily |
(161) |
-- |
|
|
Zain |
2 |
-- |
|
Riyad Capital kept its recommendations on STC and Zain unchanged. The brokerage issued a “neutral” rating on Mobily, with a target price of SAR 18 per share.
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Riyad Cap Recommendations |
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Company |
Recommendation |
Target price (SAR/share) |
||
|
Previous |
New |
Previous |
New |
|
|
STC |
Neutral |
Neutral |
73 |
73 |
|
Mobily |
Under review |
Neutral |
-- |
18 |
|
Zain |
Buy |
Buy |
12 |
12 |
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