Archives for June 2019

Strong gains again for Junior Market – Monday

June 3, 2019 by

Honey Bun hits a new 52 weeks’ high of $6 on Monday

The severely undervalued Junior Market of the Jamaica Stock Exchange closed with another high double-digit gain on Monday, similar to Friday’s strong advance, with the index rising 41.06 points to close at 3,118.29.
At the close of market activities, 30 securities changed hands, compared to 26 on Friday, resulting in prices of 11 securities advancing, 9 declining and 10 remaining unchanged.
Trading resulted in an exchange of 2,781,261 units valued at $12,194,821 compared to 2,959,240 units valued at $11,853,904 changing hands on Friday.
Trading ended with an average of 92,709 units for an average of $406,494 in contrast to 113,817 units for an average of $455,919 on Friday.  In contrast, April closed with an average of 81,626 units for an average of $311,248 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows just one stock ending with the bid higher than the last selling price and six with lower offers.
At the close of the market, Access Financial closed at $43.20, with 62,942 shares changing hands, AMG Packaging exchanged of 28,190 stock units and ended at $2, Cargo Handlers settled 7 cents higher at $9.32, with 2,000 shares crossing the exchange, Caribbean Producers finished trading 13,156 units and rose 50 cents to close at $4.80. Consolidated Bakeries closed at $2, in exchanging 25,500 shares, Derrimon Trading ended 5 cents higher at $2.95, with 3,180 shares changing hands, Dolphin Cove concluded trading of 12,363 shares, with a loss of 5 cents to close at $12, Everything Fresh settled 4 cents higher at $1.51, with an exchange of 2,543 units. Elite Diagnostic ended trading with a loss of 20 cents at $3.80, with 900 shares changing hands, Express Catering traded 6,817 shares with a loss of 70 cents at $6.80, Fontana closed 5 cents higher at $4.35, with 96,033 stock units changing hands, FosRich Group closed with 11,793 shares trading and rose 20 cents higher to $4.95. General Accident ended at $4.20, with an exchange of 639,889 units, GWest Corporation concluded trading of 17,800 shares, with a loss of 5 cents in closing at $1.26, Honey Bun jumped $1.01 higher at 52 weeks’ high of $6, with an exchange of 200,330 shares, iCreate settled at 80 cents, with 15,600 shares changing hands. Indies Pharma ended trading with 62,418 stock units and gained 15 cents to close at $3.30, Iron Rock traded 34 cents higher at $3.84, with an exchange of 693 units, Jamaican Teas closed with a loss of 7 cents at $4.18, with 11,721 shares crossing the exchange. Jetcon Corporation ended with a loss of 4 cents at $1.86, with 1,030,857 shares changing hands, KLE Group closed at $2, with an exchange of 56,500 units, Knutsford Express settled with a loss of 70 cents at $11.80, with 27,000 shares changing hands, Lasco Distributors  ended trading of 51,000 shares and gained 10 cents to close at $3.65. Lasco Financial  traded 75,384 shares with a loss of 26 cents to finish at $4.74,  Lasco Manufacturing  finished trading with 269,970 stock units to close at $3.85, Main Event closed at $5.35, with 6,778 units changing hands. Medical Disposables  ended $2.50 higher at $8, with an exchange of 17,700 shares, Paramount Trading concluded trading of 11,930 shares at $2.10 and Stationery and Office Supplies settled at $9.04, in trading 19,909 stock units. In the Junior Market preference segment, CAC 2000 closed with a loss of 20 cents at $1.10, with 365 shares changing hands.

Prices of securities trading are those at which the last trade took place.  

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Rising and declining TTSE stocks equal – Monday

June 3, 2019 by

The Trinidad & Tobago Stock Exchange closed on Monday with modest changes in the market indices hardly after advancing and declining stocks were deadlocked at 4 each.
At close of the market, the Composite Index gained 1.64 point higher to 1,356.92. The All T&T Index lost 0.67 points to 1,795.52, while the Cross Listed Index rose 0.55 points to close at 123.95.
The market closed with 16 securities trading compared to 15 on Friday, leading to 4 advancing, 4 declining and 8 remaining unchanged as 196,162 shares valued $3,021,802 changed hands, compared to 126,457 shares valued $2,247,280, on Friday.
IC bid-offer Indicator|The Investor’s Choice bid-offer ended with 3 stocks with a higher bid than their last selling prices and 3 with lower offers.
Stocks ending with gains| At the close of the market, Clico Investments gained 5 cents and ended at $23.50, after exchanging 7,851 units. National Flour concluded trading 207 shares with a rise of 2 cents to settle at $1.72, Sagicor Financial added 50 cents and ended at $10, with 13,802 units changing hands and Trinidad & Tobago NGL increased 25 cents to end at $28.75, after exchanging 2,486 shares.
Stocks closing with losses| National Enterprises shares fell 10 cents and completed trading of 26,047 shares at $6.70, Prestige Holdings closed with a loss of 5 cents at $9.70, after exchanging 402 shares, Scotiabank shed 34 cents and completed trading 14,572 shares at $62.56 and Unilever Caribbean lost 5 cents and ended at $25.50, with 200 units changing hands.
Stocks closing firm| Agostini’s settled at $23.50, after exchanging 314 shares, First Caribbean International Bank completed trading of 1,058 shares at $8.35, First Citizens Bank settled at $38.50, in exchanging 565 shares, Guardian Holdings closed trading at $18.50, with 4,800 shares, Massy Holdings ended at $54.95, with 179 stock units changing hands. NCB Financial Group closed at $8.45, with 115,310 stock units changing hands, Republic Financial Holdings exchanged 3,369 stock units at $121.12 and Trinidad Cement closed at $2.55, with 5,000 stock units changing hands.

 Prices of securities trading for the day are those at which the last trade took place.

Filed Under: Stock Market, TTSE Market Tagged With: , , , , , , , , , , , , , , , , , , ,

Lasco stocks bow out of IC TOP 10

June 3, 2019 by

Lasco Manufacturing that IC Insider last week suggested readers keep a keen eye on, reported outstanding full year results and climbed 18.5 percent to $3.85 on Friday, exit the Junior Market IC Insider.com’s TOP 10.
Lasco Financial came in with full year results that were above the 2018 figures and the price moved up to $5. IC Insider downgraded 2020 earnings to 60 cents per share, the combination of the two changes, pushed the stock outside the TOP 10, Jetcon is the third stock to move out of the top tier. Coming in to replace the above are CAC 2000, Everything Fresh and Consolidated Bakeries, all three newcomers have been having challenges with growing profits.
Carreras reported flat profits for the year to March resulting in downgrading of 2020 profits, with the stock no longer in the TOP 10, also leaving is Caribbean Cement with the price recovering during the week to close at $78, the two are replaced by Stanley Motta and Sygnus Credit Investments.
The three leading Junior Market stocks for the coming week are, Caribbean Producers with projected gains of 272 percent, followed by Iron Rock with likely gains of 243 percent and Medical Disposables with possible gains of 233 percent.
Sterling Investments with potential gains of 174 percent leads main market stocks, followed by Radio Jamaica with 159 percent and VM Investments in third spot with the potential to gain 141 percent within twelve months.
The main market, closed the week with the overall PE at 14.8 and the Junior Market at 11.1. The PE ratio for Junior Market Top 10 stocks averages 6.8 and the main market PE 9. These levels, point to a big upside for TOP 10 stocks over the next 12 months and Junior Market stocks in particular.
The TOP 10 stocks now trade at an average discount of 39 percent to the average for the Junior Market Top stocks and main market stocks trade at a discount of 39 percent to the overall market.
TOP 10 stocks are likely to deliver the best returns within a 12 months period. Projected earnings, for each company’s current fiscal year, are used in determining, the selected stocks. The PE for and projected earnings for each stock are computed to show potential gains for the year, which are ranked in descending order. Potential values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. Earnings per share are revised on an ongoing basis as new information is received that can result in changes in and out of the list.

This report is compiled by persons who may have interest in the securities commented on.

 

Filed Under: Buy Rated Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Sunshine Palace opens June

June 3, 2019 by
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Palace Amusement is expanding with the re-entry into the rapidly growing Portmore community with the new cinema Sunshine Palace expected to open around mid-June.
The newest cinema house when complete, will bring the number of movie houses operated by Palace to four. The new cinema has 4 auditoriums, providing seating for 674 persons. Patrons will be enjoy the best movie facilities in Jamaica with some seats equipped to recline for greater comfort and will enjoy digital screens for better quality viewing experience. The company in its 2018 annual report had stated then, “we are excited about the offerings of the four screens location to come” in Portmore. Reports reaching IC Insider.com is that the resident of the area are eagerly awaiting the opening new facility that will be located at the new Portmore Sunshine Mall, next door to the Sovereign Village Portmore.

Recliner box seats exclusively for cinema 4.

The company also stated, “It is our hope, in short order, to introduce laser technology in our cinema projection–which will offer a superior light quality for films. Additionally, we will introduce disposable 3D glasses in some of our locations–in response to customer preference and requests.”
In 2004 fiscal year, the then Portmore cinema brought in just over $15 million in revenue, with segment profit of $1.2 million. In 2004, the population was around 160,000 persons and is now around 200,000, but the cinema can pull support from the wider environs including the parish capital, Spanish Town. IC Insider.com estimates that the new cinema could generate revenues of more than $350 million per year, assuming that at least just one person on average from the area attends the cinema annually. The estimated revenue would be just ahead of that is generated in the Montego Bay. With Portmore so close to Kingston, it could result in a switch in some of the existing business to the new one.

The plaza that will house Palace latest movie house.

Palace reported it best year ever with the fiscal year to June 2018 with profit after tax of $152 million up from just $33 million in 2017 fiscal year and earnings per share of $96.58. Revenues climbed nicely by 17 percent to $1.67 billion flowing from a 25 percent rise in patronage income at Carib, 27 percent increase at Cineplex and just 11.5 percent in Montego Bay. The results for the nine months to March this year lagged far behind the 2018 out turn, for the similar period with revenues of $775 million versus $836 million for 2018 and a loss from operations of $1.5 million compared to a profit of $49 million. A capital distribution of nearly $47 million boosted profit for the nine months this year to $45 million.
Palace share last traded on the main market of the Jamaica Stock Exchange at $1,300.

Filed Under: Company News, Company Results Tagged With: , , ,

NCB Financial could hit $190 soon

June 3, 2019 by

NCB Financial stock could hit $190

There are not many stocks to watch this week, as earnings season is almost over, with just a few more reports to be released.
Investors responded well to companies reporting good profit gains and in the case of NCB Financial, to the increased holdings in Guardian Group. The stock seems to have broken through resistance at the $150 level. The $165 region where the stock trades at now is also a resistance area but the strong buying last week at this price point, suggests it is poised to move higher with $190 being the next point of resistance.
Lasco Manufacturing posted strong full year results during the past week with an outstanding fourth quarter that led investors to pick up almost 1.4 million shares resulting in rise of 60 cents on Friday. Barita Investments is enjoying buying interest as the value of stock prices rise and the Jamaican dollar value remains lower than at the end of March, both will likely give a big boost to profit in the June quarter.
Eppley seems to have demand that should push the price higher during the week as the company is getting set to launch an IPO for the Eppley Property Fund. Medical Disposables’ full year’s

SOS expect to maximize profits from all business lines in 2019.

results just inched higher over 2018 but closer examination indicates that the results telegraphed a powerful message about profits to come. Expect demand to pick up in the future for this stock as the company continues to grow attractively.
Stationery and Office reported good first quarter results, weeks ago driving renewed interest in the stock. The demand left supply very short, suggesting it is only a matter of time before the price moves higher. Wigton Windfarm hit a low of 72 cents during the past week but closed at 79 cents on Friday and could move back into the 80 cents range in the coming week.
Investors should keep eyes on Jamaica Producers, Sagicor Group and Honey Bun.

Filed Under: Stock Market, Stocks to watch Tagged With: , , , , , , , , , ,