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equity bank Q3 results
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stocksmaster
#21 Posted : Tuesday, October 26, 2010 11:34:49 AM
Rank: Member

Joined: 9/26/2006
Posts: 463
Location: CENTRAL PROVINCE
[quote=mlennyma]Share price not excited anyway.[/quote]

The 53% growth seems to have been factored already by the market. Its commendable that Equity is posting almost identical results to KCB with just half the size of KCB's balance sheet.

Going forward, Equity is destined to post an EPS of Ksh 1.75 for 2010, thus a forward P/E of about 15 at current prices. This seems like a fair valuation for Equity at current prices.

Happy hunting
x handle: @stocksmaster79
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Njung'e
#22 Posted : Tuesday, October 26, 2010 11:37:23 AM
Rank: Elder

Joined: 2/7/2007
Posts: 11,935
Location: Nairobi
There is no excitement at all.....Hata nusu mkeka?.This is unlike EB!
Nothing great was ever achieved without enthusiasm.
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mwanahisa
#23 Posted : Tuesday, October 26, 2010 11:54:14 AM
Rank: Elder

Joined: 6/2/2008
Posts: 1,438
This is an awesome set of results, for a big league bank, notwithstanding the lack of excitement in reaction to the results. There has been heavy selling and I am not surprised by the lack of reaction as long as would be buyers perceive that they can get it at current price for some time.

Traditionally, Equity has traded at a higher forward PE than any of the other big banks, so I expect it to pick up within the next 2-3 months. If the NSE remains bullish, a historical PE ratio of 20 (following full year 2010 results) is feasible, and hence a price of 35 should be achievable.
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Pastor M
#24 Posted : Tuesday, October 26, 2010 11:55:44 AM
Rank: Member

Joined: 8/18/2009
Posts: 303
[quote=mjuaji wa stocks][quote=Njung'e]@Mjuaji,

EB target of 41 by March??...hahah!!...You are such a dreamer![/quote]


Guka .... and who said dreaming is bad??

Ama kwani mtu akizeeka .... you no longer dream??? :-) :-) :-)

Ama ni uzee :-d :-d :-d :-d :-d ........ tungoje.[/quote]

I m not only dreaming but I m seeing a vision EB will be sailing in its 40's in March 2011.
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yekeyeke
#25 Posted : Tuesday, October 26, 2010 1:42:38 PM
Rank: Member

Joined: 6/4/2008
Posts: 345
Results zinaendelea kuingia...

http://www.nation.co.ke/business/news/Equity%20Bank%20Q3%20pretax%20profit%20up%20to%20Sh65%20billion/-/1006/1040542/-/f0mmtxz/-/index.html
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mwanahisa
#26 Posted : Tuesday, October 26, 2010 2:20:00 PM
Rank: Elder

Joined: 6/2/2008
Posts: 1,438
I have crunched the numbers for Equity Bank and I am impressed twice over. EPS for Q3 (July to Sep) is Kshs 0.57 a 19.9% increase Quarter on Quarter. Overall EPS for the 9 months comes in at Kshs 1.38 a 51.5 % increase relative to 2009.

Average EPS for the 3 quarters is therefore Kshs 0.46. If we project that Q4's EPS remains at the average for the other 3 quarters, EPS for the year would be Kshs 1.85. This would represent growth of a whopping 61%.

At yesterday's average price of Kshs 26.50, the forward PE is therefore at an undemanding 14.36, with this stellar growth in profitability.

I think the current price (26.25 - 26.75) provides a compelling entry point for those who may not be in it already. Caution should be however exercised as there may not be immediate gains as long as the big sellers continue to flood the market with supply.
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yekeyeke
#27 Posted : Tuesday, October 26, 2010 3:37:53 PM
Rank: Member

Joined: 6/4/2008
Posts: 345
@mwanahisa
So what would be your estimated share price as of March 2011?
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My 2 cents
#28 Posted : Tuesday, October 26, 2010 3:45:57 PM
Rank: Veteran

Joined: 6/2/2010
Posts: 1,099
I am very curious what the dividend will be. If full year results represent EPS of approx. 2/= and the dividend remains a paltry 0.35 or less than 0.5.........mmmmmmhhhhhhhhh
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vinii
#29 Posted : Tuesday, October 26, 2010 3:50:59 PM
Rank: Elder

Joined: 10/14/2009
Posts: 2,057
Dr. Mwangi's stewardship is proving the doughting Thomases wrong. This dude's cabinet must be bursting with awards..
If you are an eagle don't hang around with chickens; chickens don't fly....
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guru267
#30 Posted : Tuesday, October 26, 2010 3:58:10 PM
Rank: Elder

Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
Equity's results are always factored in before they come in so Dont expect much from the share
Mark 12:29
Deuteronomy 4:16
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