Zain Saudi Arabia shares recorded the largest decline in 15 weeks

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The shares of the Saudi Mobile Telecommunications Company “Zain Saudi Arabia” recorded the largest decline in 15 weeks during today’s session, Wednesday, after falling to the level of $2.45 (9.19 riyals), which is its lowest level since the session of March 29, 2020.

The stock's trading volume was 34% higher than its average trading during the last 20 sessions.

In terms of performance, the stock declined by 6.5% during the last five sessions, while it decreased by 9.37% within 30 days, and by about 12% since the beginning of the year.

During the last 52 weeks, the stock fell by 19.3%, compared to the decline of the Saudi main market index “TASI” by about 12% during the same period.

The book value multiple of the share was about 0.77 times, while the earnings multiple for the last 12 months was about 10.5 times, and the future earnings multiple was about 11.75 times. The cash dividend yield was about 5.4%.

The stock is followed by 11 research institutions, whose recommendations are divided into two recommendations to buy, six recommendations to hold, and three recommendations to sell. The average target price for the stock is $3.04 (11.40 riyals), an increase of more than 20% compared to the last closing price.

The Mobile Telecommunications Company is one of the largest shareholders in Zain Saudi Arabia, with a stake of 37.05%.