Saudi Electricity Company’s (SEC) Q2 2019 profit of SAR 789 million missed analysts’ expectations of SAR 2 billion, NCB Capital said in a research note issued today.
“We believe the variance is due to lower than expected revenues and higher financial expense,” NCB Capital said.
“However, a 38 percent year-on-year (YoY) decline in capex is a key highlight which helps the company to reduce its debt level,” the note added.
The brokerage firm maintained a “Neutral” rating on SEC with a target price of SAR 19.5 per share.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}