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.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Join Us

Argaam.com Copyright © 2026, Argaam Investment, All Rights Reserved
Call Request