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Red Star Express Plc (NGX: REDSTAREX) | Share Price

Nigel Firth
Nigel Frith trader
Updated 20 May 2024
OPEN DEMO TRADING ACCOUNT YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY
Red Star Express Plc

Redstar Express Plc is a Nigerian corporation that operates four segments: courier, freight, logistics, warehousing, and general haulage.

Overview of Red Star Express Plc

Redstar Express Plc provides worldwide and domestic express delivery, freight forwarding, integrated logistics solutions, information and document management solutions, warehousing, and supply chain management services. Online tracking, signature proof of delivery, insurance, customs clearance, packing, and desktop software shipping solutions are all examples of value added services.

Today, Red Star Express Plc’s portfolio of products and services are diversified in more sectors of the Consumer Services value chain and include the following: Air Express, Bulk Mail, Inbound Collect and Special Projects. Air Express's domestic products include Red Star Express Domestic Same Day, Red Star Express Domestic Express and Customer/Address Verification Services, and international products include Fedex International Priority and Point to Point Delivery. It offers Bulk Mail services for bulk document deliveries, product sampling, and delivery and retrieval of promotional items.

The history of Red Star Express Plc goes back to 2007 when the company was established.

Red Star Express Plc has its head offices at 70 International Airport Road, Lagos, Nigeria.

The current CEO or managing director of Red Star Express Plc is Peter Olusola Obabori.

Red Star Express Plc's equity stocks are for sale online on the Nigerian Stock Exchange (NGX) under the stock symbol REDSTAREX.

Red Star Express Plc forms part of the Air Courier Industry and the Consumer Services Sector of the Nigerian Stock Exchange (NGX).

Red Star Express Plc Stock Performance

The current price for Red Star Express Plc stocks on the Nigerian Stock Exchange (NGX) is 3.50 Nigerian Naira (NGN).

An analysis of financial data of Red Star Express Plc showed that the company has a total market capitalisation of 3.34 Billion NGN, and the number of shares outstanding is 954 Million.

With an increase of earnings per share and reliable profits over a period, investors who want to buy or sell Red Star Express Plc stocks can look forward to more profitable dividends and earnings in times to come.

According to an analysis on the live chart of Red Star Express Plc, analysts forecast further improved performance for the Consumer Services sector with market share growing as trading volumes increase.

Red-Star-Express-Shares

Highlights of Red Star Express Plc in 2021/2022

Red Star Express Plc started the current financial year (2021) with a share price of 3.45 Nigerian Naira (NGN) on the Nigerian Stock Exchange (NGX), and it has gained 1.45 % in value on its price valuation, ranking 48th on the NGX with its year-to-date performance.

Red Star Express Plc is currently the 82nd most-traded stock on the NGX and it has experienced a total trading volume of more than 10 million shares, which were finalised in 497 deals and were valued at a total of 33.6 million Nigerian Naira (NGN) over the recent three month period from October 2021 to January 2022, with an average of 159,517 shares in each trading session.

During the same period a volume high of 1.57 million was achieved on November 8.

How to buy Red Star Express Plc stocks – Step by Step

The stock market is one of the most attractive financial markets that sees millions of retail investors and traders participating daily. To buy, sell or trade Red Star Express Plc stocks on the Nigerian Stock Exchange (NGX), traders and investors can follow a few simple steps:

  1. Find the share that you want to buy, in this case, “REDSTAREX”.
  2. Select a forex broker that offers access to the Nigerian Stock Exchange (NGX).
  3. Review the broker's trading conditions, fees, deposit and withdrawal methods, trading platform, customer support, regulation, and other components to ensure that they are aligned with your trading plan.
  4. Open a live trading account with the broker by completing the online application form and providing the necessary documentation to verify the trading account.
  5. Once your account has been activated, you are ready to make your first share purchase through the broker.
  6. From here you can start to build and diversify your portfolio by buying more shares.

FAQs

The Nigerian Stock Exchange (NGX) (officially the Nigerian Exchange Group) is a leading integrated market organisation in Africa servicing the continent’s largest economy, that of Nigeria. The Exchange provides capital access to companies that seek to take advantage of the financial markets to fund their business expansion. The NGX also provides its collection of domestic, regional, and international investors with an array of regulated securities to achieve their investment objectives.

The NGX publishes the benchmark, value-weighted All-Share Index (ASI), formulated in January 1984 with a base value of 100 and which tracks the general market movement of all listed equities on the Exchange.

The NGX30 and NGX50 are additional indices that track the top 30 and 50 companies in terms of market capitalization and liquidity respectively. Only fully paid-up common shares weighted by adjusted market capitalization are admitted to these indices.

In March 2021, the Nigerian Stock Exchange was transformed into a shareholder-owned, profit making entity, the Nigerian Exchange Group Plc, when it was demutualised from a member-owned not-for-profit entity.

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Nigel Firth
Nigel Frith trader
Nigel has been in the regulated financial services industry for nearly a decade, has previously owned a financial brokerage and has written many times for sites relating to personal finance and trading.