Winning and losing stocks switched turns this week with more decliners than winners following last week when winners outnumbered losers by 12 to 7 on the Trinidad and Tobago Stock Exchange and closed this past week with losers having upper hand, with a 3 to 2 ratio with 9 falling and 6 rising, in a week when the All Trinidad and Tobago and the Combined Indices slipped by less than 0.5 percent.
The average PE ratio of the market closed at 8 based on 2023 earnings and 5.75 based on estimates of the 2024 earnings. The difference graphically illustrates the market’s current undervalued level and the potential gains ahead.
In a week that ended with some stocks posting solid gains, Ansa Merchant Bank gained $1.19 to close at $41.25. Angostura Holdings popped 34 cents to $14.84 and Calypso Micro Index Fund climbed $1.40 to a 52 weeks’ high of $25.
Stocks with notable declines include First Citizens Bank with a fall of 49 cents to close at $41.01 and Endeavour Holdings with a drop of $1 to $19,
Stocks with the potential to gain more than 100 percent when the market comes back to life, include CIBC Caribbean Bank which could gain 200 percent, the severely undervalued Guardian Holdings, with a 430 percent potential, Republic Holdings at 135 percent, First Citizens Bank 100 percent, Massy Holdings 50 percent, Trinidad Cement with 300 percent. Eric Solis with a 100 percent potential gain and One Caribbean Media with 315 percent.
Investors should watch Prestige Holdings with the potential to gain 80 percent and Trinidad and Tobago NGL with a potential gain of 270 percent.