Osool & Bakheet issues Q3 forecasts; SABIC seen up 4%
Osool and Bakheet Investment Co. has issued Q3 2018 earnings estimates for several Tadawul-listed companies under its coverage.
Among petrochemical firms, Saudi Basic Industries Corp. (SABIC) is expected to report a year-on-year (YoY) profit increase of 4 percent to SAR 6 billion.
In the banking sector, Al Rajhi Bank is forecast to report SAR 2.56 billion earnings in Q3, rising 13 percent YoY.
National Commercial Bank (NCB) is estimated to post a 7 percent year-on-year (YoY) hike in earnings to SAR 2.28 billion.
In the cement sector, Saudi Cement Co. is projected to generate SAR 50 million in net profit in Q3, dropping 43 percent YoY.
Amongst the healthcare providers, Mouwasat Medical Services Co. is projected to post a profit jump of 4 percent YoY to SAR 80 million. All remaining companies within the sector are seen to report a decline in net profit.
Elsewhere, Jarir Marketing Co.’s earnings are forecasted to grow 8 percent YoY, while Saudi Telecom Co.’s (STC) profit is seen to fall by 2 percent YoY in Q3.