South African stock alert
CLOSING UPDATE: Bid Corporation decreases 1.4%, led Food processors sector lower 15 June 2018 19:03 SAST
NEWS BITES - AFRICA
This is an end of day Alert, produced after today's South African market close. It concludes the BSS News Bites intra-day Alert series (summaries below).
Bid Corporation, South Africa's largest food processor company by market capitalisation, has decreased 1.4% to trade at ZAR276.10 vs. the Food processors sector which weakened 481.6 points (or 0.5%) to 89,576.7. Representing a weighting of about 39.3% of the sector, the stock accounted for the loss. Trading volume was 2.2 times average at the end of the day. Compared with the FTSE/JSE- Africa Top 40 Index which fell 212.8 points (or 0.4%) in the day, this represented a relative price change of -1.0%.
Technical indicators complementing today's significant downtrend:
+ The negative 0.68 MACD (Moving Average Convergence Divergence) indicator suggests a bearish signal.
+ In the last three months the stock has hit a new 52-week low once.
Fundamental measures by comparison with the sector average [in brackets] indicate:
+ Price/Earnings of 22.9 [4.5]
+ Price/Sales of 0.7 [0.4]
+ Price to Book of 9.4 [1.2]
+ Dividend yield of 1.5% [2.3%]
+ Return on Equity 17.2% [20.2%]
+ Return on Assets 7.4% [12.2%]
+ Return on Capital Employed 18.4% [25.0%]
Other Bearish Signals include:
+ As per the Du Pont analysis, Return on Equity of 17.2% is lower than sector average of 20.2%.
Bid Corporation today is at a discount of 14.8% to the 12-month high of ZAR324.0 on 03 Aug, 2017. It is at a premium of 13.8% to the 12-month low of ZAR242.67 on 04 Apr, 2018.
The price climbed 4.7% in the last week and increased 1.1% in the last month.
Interest cover is less leveraged at 17.7 times.
Tobin's Q Ratio is 1.7. Compared with the rest of the market the stock is undervalued.
Morning Alert: Bid Corporation increases 1.1%, leads Food processors sector higher
15 June 2018 10:50 SAST
Bid Corporation Ltd (J:BID) has increased 1.1% to trade at ZAR283.26 vs. the Food processors sector which strengthened 752.0 points (or 0.8%) to 90,810.3. Representing a weighting of about 39.7% of the sector, the stock accounted for 54.0% of today's gain. The shares have outperformed 96% of the market in the past week. Trading volume was 1.5 times average so far today.
CLOSING UPDATE: Bid Corporation climbs 5.2% on firm volume
13 June 2018 19:00 SAST
Bid Corporation, South Africa's largest food processor company by market capitalisation, traded on heavy volume of 1.1 times average today while the price climbed ZAR13.70 (or 5.2%) to trade at ZAR278.20. Compared with the FTSE/JSE- Africa Top 40 Index which rose 290.6 points (or 0.6%) in the day, this represented a relative price increase of 4.6%.
Morning Alert: Bid Corporation lifts 3.4%, leads Food processors sector higher
13 June 2018 10:51 SAST
Bid Corporation Ltd (J:BID) has lifted 3.4% to trade at ZAR273.50 vs. the Food processors sector which strengthened 1,036.3 points (or 1.2%) to 87,903.7. Representing a weighting of about 39.6% of the sector, the stock accounted for the gain. The shares have outperformed 88% of the market in the past week. Trading volume was 1.2 times average so far today.
Bid Corporation Ltd (J:BID; JNB:BID; SJ:BID)