Access Holdings Plc dipped slightly in the equity market amidst fading bargain hunting while investors priced in the first half of 2025 earnings delay. The financial services company extended its earnings release date on the Nigerian Exchange after the board announced the result has been transmitted to the Central Bank for final approval.
At the close of the trading session last week, Access Holdings Plc’s 53.317 billion shares outstanding in the local bourse valued at N1.412 trillion, N26.658 billion below its previous position.
A slew of equity analysts’ target prices for Access Plc showed upside potential isn’t lacking, as the trading record showed that the group has delivered a 13.21% year-to-date return to investors, though the lowest among Tier-1 banks.
Investors are already having mixed feelings, and sell-side actors have started to take advantage of earnings delay to dump more banking stocks with the hope of making fresh entries at later dates. Banking stocks are among the casualties of the recent bearish grip on the NGX amidst fading bargain hunting in the absence of rally-fuelling catalysts.
“The last hope for big banks to make meaningful returns for shareholders would be the strength of their respective earnings performance for the first half of 2025”, Broadstreet analysts said in a group discussion with MarketForces Africa.
Investors are trading cautiously, as equity analysts expressed views that First Holdco Plc earnings plunge has sent jitters across BroadStreet. The market is curiously waiting to receive Access Holdings first half of 2025 financial scorecard as the sole catalyst for the next price re-rating.
At the close of the trading session last week, the market value of Access Holdings Plc declined N1.412 trillion on 53.317 billion shares outstanding. The financial services group price movement was less volatile compared with the negative performance of the Nigerian Exchange. Its contribution to overall banking index loss was also mild.
Access Holdings Plc share price settled at N26.50 on Friday as 26.854 million units valued at N716.975 million were traded in the local bourse. The huge trading volume was led by sell-side traders who sought to take profit ahead of Access Holdings’ earnings release.
The Holdings lost N26.658 billion from its market value as investors engaged in cautious trading amidst earnings delay, a similar pattern seen with Zenith Bank and GTCO except for UBA, a lone gainer, while First Holdco flatlined.
Equity Analysts’ Expectations and Recommendations
Equity analysts sampled by MarketForces Africa Research have different expectations about the group expected earnings stream with varied evaluations of the group business fundamentals. Afrinvest Securities Limited is the most optimistic investment firm that set the highest price target of N48.61 for Access Holdings Plc. The investment firm sees potential for strong upside where others played cool.
Equity analysts at Apel Asset Limited estimated price target of N36 for Access Holdings Plc with an upside potential of 33.60% on a reference price of N27. In its stock recommendation, Apel reported that the banking group has delivered a 13.21% year-to-date return to investors. Surprisingly, Cowry Asset Limited also set the group share price target at N36.
With a buy rating, equity analysts at Alpha Morgan Capital Limited placed Access Holdings on N33.20 price target based on last week stock recommendation. Atlass Portfolio Limited thinks N30.50 is the right target price for Access Holdings Plc which analysts followed up with hold or neutral recommendation due to limited upside potential of 12.95% at reference price of N27 last week.