Riyadh-Mubasher: Alistithamr Capital placed an 'Accumulate' recommendation on Jarir Marketing Co. (JMC), setting the fair value at SAR 160.
The research firm said the company's Q4-15 net earnings were below its forecasts.
The Saudi retailer recorded net earnings of SAR 208 million during the fourth quarter of 2015, a fall of 4.7% from SAR 206 million in the year-ago period.
Full-year net earnings increased 11% year-on-year from SAR 745 million.
Chairman Mohammed Al-Agil earlier told Mubasher that his company will maintain its dividend payout for the fourth quarter of 2015 at the previous levels.
He added that Jarir will continue with its expansion plan, through opening five new showrooms in 2016 to achieve robust growth rates.
