Doha – Mubasher: MubasherTrade Research (MTR) lowered its recommendation on the stock of Al Meera Consumer Goods Company to "Sell."
The research firm set the company’s price target (PT) at QAR 185.9 per share.
MTR noted that the company's profits came below the estimates.
Al Meera's profits fell 4.7% year-on-year to QAR 34.3 million in the third quarter of 2016 from QAR 36 million.
The company's profits shed 0.09% to QAR 136.85 million during the first nine months of 2016, compared to QAR 136.97 million in the same period of 2015.
Earnings per share (EPS) reached QAR 6.84 in the nine-month period ended 30 September 2016, compared to QAR 6.85 in the prior-year period.
