cornerstone insurance

[ayo otesile]

can someone tell me what is happening to conerstone insurance...

[c kenneths]

Summarily they made losses in their last released results, and the market responded by hammering the stock price down.

It seems to be recovering though.

[Yusuf]

CORNERSTONE INSURANCE COMPANY
9 months, Sep. 2007

Turnover (Nm) 2,344.00

Turnover LY (Nm) 1,983.00

Change (%) 18.20

PBT (Nm) 819.86

PBT LY (Nm) 96.49

Change (%) 749.72

TAX (Nm) 250.17

TAX LY (Nm) 36.72

Change (%) 581.27

PAT (Nm) 569.69

PAT LY (Nm) 59.76

Change (%) 853.23

[c kenneths]

The results released by cornerstone is very impressive, thank God I didn’t sell my shares after the last poor results.

Tenacity and courage is a big plus in this business.

[kiibaati]

Sometimes, the best time to buy in is when a good stock getting bad press. The jist is that a venture capital company has invested in cornerstone and taken over. This is one stock that is bound to move continually northward in the next few days. And it makes sence to HOLD for the long term.

[balaliyu]

The venture capital gist is not new.....its been there for a while. Think its the Capital Alliance folks or so.....Overall, it looks like a good stock though, but i believe there are more valuable insurance stocks out there right now......dont forget Cornerstone has 5b+ shares in issue right now....Do the PE valuation and comapre with the likes of Mutual benfits, Niger, Crusader and see what im talking about...

Cheers...B

[c kenneths]

Taking recent happenings in the insurance sector as a guide, does anyone still think it makes investment sense to buy cornerstone at its present price of N4.36?

[hispy99]

Originally Posted by c kenneths

Taking recent happenings in the insurance sector as a guide, does anyone still think it makes investment sense to buy cornerstone at its present price of N4.36?

overvalued

[c kenneths]

You are right Hispy, the stock started to lose some weight yesterday.

[hispy99]

Originally Posted by ayo otesile

pls is the audited result of conerstone out

oga,

Please stop starting new threads when one already exists. You started one on this same company in August last year.

Thanks

[Avocado]

Cornerstone Insurance Plc - First quarter results, 31 March 2008

...............2008...............2007
Turnover...N1.4 billion........N0.87 billion
PBT..........N0.43 billion......N0.25 billion
PAT..........N0.29 billion......N0.17 billion

A respectable result.

Share outstanding figure: somewhere between 4.37B and 5.06B, inclusive

[billions]

Originally Posted by Avocado

Cornerstone Insurance Plc - First quarter results, 31 March 2008

...............2008...............2007
Turnover...N1.4 billion........N0.87 billion
PBT..........N0.43 billion......N0.25 billion
PAT..........N0.29 billion......N0.17 billion

A respectable result.

Share outstanding figure: somewhere between 4.37B and 5.06B, inclusive

I think the outstanding shares is far more dan that...i will post my figure soon.cheers.

[billions]

Originally Posted by Avocado

Cornerstone Insurance Plc - First quarter results, 31 March 2008

...............2008...............2007
Turnover...N1.4 billion........N0.87 billion
PBT..........N0.43 billion......N0.25 billion
PAT..........N0.29 billion......N0.17 billion

A respectable result.

Share outstanding figure: somewhere between 4.37B and 5.06B, inclusive

I hv 8.87b units....

[hispy99]

Originally Posted by Avocado

Cornerstone Insurance Plc - First quarter results, 31 March 2008

...............2008...............2007
Turnover...N1.4 billion........N0.87 billion
PBT..........N0.43 billion......N0.25 billion
PAT..........N0.29 billion......N0.17 billion

A respectable result.

Share outstanding figure: somewhere between 4.37B and 5.06B, inclusive

I have 9.56B shares outstanding

[billions]

Originally Posted by hispy99

I have 9.56B shares outstanding

Problem dey...d result is not good based on d units on ground.

[kenebobo]

looking at the PE and EPS the current price is not bad to take position.

[billions]

Originally Posted by kenebobo

looking at the PE and EPS the current price is not bad to take position.

wats d EPS dat u hv?cheers.

[billions]

I hv an EPS of abt 13k provided dey can make a profit of 1.2B naira.

Forward PE ratio is abt 27....some insurance companies hv a Forward PE dat is abt half of dis.

Cornerstone is a great compant but i dont know much abt d competence of d new CEO of d company.

[kenebobo]

Originally Posted by billions

I hv an EPS of abt 13k provided dey can make a profit of 1.2B naira.

Forward PE ratio is abt 27....some insurance companies hv a Forward PE dat is abt half of dis.

Cornerstone is a great compant but i dont know much abt d competence of d new CEO of d company.

According to Lead Capital their foward EPS is 27K and if you work with this it means their foward PE is below 15

[billions]

Originally Posted by kenebobo

According to Lead Capital their foward EPS is 27K and if you work with this it means their foward PE is below 15

...what was d outstanding shares used in the calcn?