ANALYSIS: How newcomer BUA Foods displaced Nestlé as Nigeria’s 'biggest' consumer goods firm

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Analysts say the firms share price rise was not necessarily driven by company fundamentals or specific business benefiting news.

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Mr Rabiu and his son Abdulsamadu Isyaku Rabiu hold 99.8 per cent of BUA Foods shares between them, the former owns 88.9 per cent and the latter 10 per cent, according to the company’s listing memorandum.price-to-earnings ratio

Analysts use PE ratio to know if a company’s stock is overvalued, meaning trading above its real value, or undervalued, meaning trading below its intrinsic value. A high PE ratio indicates the stock is overvalued while a low PE ratio implies it is undervalued. Traders, according to Mr Gwatau, said the sentiment on the stock since it listed is not quite reflective of the market.“Some of the companies’ products are not yet launched. The ones that have been launched are not popular.”

The company is holding an analyst/investor’s call this week, where the management has got some explaining to do about the state of things.

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