Key Insurance in at top of TOP 5

Key Insurance listing ceremony.

Key Insurance listing ceremony.

Key Insurance climbed into the Top 5 of the IC Insider’ junior market list, at the number one spot. The rise came about as a result of a turnaround in the company’s September quarterly results, to overcome a drag the losses reported in the June had on the profit and the stock price.
IC Insider’s forecast is for earnings per share of approximately 35 cents for 2016, for Key, suggesting the potential for a big rise in the stock price. It is noted that the only offer for the stock is 34,688 at $3.50 with the highest bid at $2.15 to buy 40,700 shares.
Jetcon Corporation has fallen out of the Top five due to a combination of a rise in Jetcon’s price, following strong third quarter results and the ascension of Key Insurance to the list. Access Financial that has been in the TOP 5 for a long time also reported strong increased profit, with a hike of 95 percent for the September quarter and a 60 percent rise to $353 million for the six months to September.
Barita could be the star performer from the TOP 5 main market stocks as demand has come in for the stock, while supply has declined.IC Top 5 18-11-16 While the investment bank reported 54 cents per share for the full year to September, earnings from ongoing operations is more like 65 cents per share. Most importantly, the information that says the stock is an outstanding buy candidate, is the quality of the final quarter results, with strong growth in fee income and net interest income and less reliance on investment and foreign exchange gains. The final quarter results, suggest earnings should end up around $1.50 in 2017. JMMB Group came in with big increased earnings, one off gains may have played a big role in the big increase but even without that, the stock is undervalued with earnings from ongoing operations in the $2 range.

Mayberry’s latest stock picks

MILMayberry Investments released their most recent recommendations for 6 Jamaica Stock Exchange listed stocks that they say are BUYS and their closing prices for 19th November.
The stocks selected are considered undervalued by Mayberry and are shown with earnings and PE ratios and comprise:• JMMB Group: $13.91 per share – P/E ratio 7.31 • Jetcon Corporation: $4.97 per share – P/E ratio 12.18 • Jamaican Teas: $4.10 per share – P/E ratio 10.73 • Sterling Investments: $15.50 per share – P/E ratio 8.34 • General Accident Insurance: $3.06 per share – P/E ratio 6.20 • Pulse Investments: $3.90 per share – P/E ratio 4.21
Mayberry indicates, that recent stock splits provide additional buying opportunities as stocks are more liquid and list the following as the candidates to benefit from stock splits.
Paramount Trading, Jamaica Stock Exchange, Cargo Handlers, EPPLEY Limited that will split the it’s $735 priced stock into 150 units, to take effect from the opening of trading on Thursday, December 1.
The Mayberry report also states that company developments that are positive, include the granting of commercial banking licence for the JMMB Group, Initial Public Offerings (IPO’s) to come within the next 3 months that will provide opportunities for new Investments as well as expansion plans at Honey Buns and National Commercial Bank’s record profits.

JMMB is one of 6 stocks identified by Mayberry as BUYS.

JMMB is one of 6 stocks identified by Mayberry as BUYS.

IC Insider’s view the top six selection a good choice, with some listed in IC Insider’s TOP 5 selection. the Mayberry’s selection seems to focus on historical or trailing earnings and could result in missed opportunities for investors. Jetcon’s PE is put at 12.18 which may be consider relatively high, suggesting that full year earnings would be 40 cents per share. Nine months earnings before tax is at that level, hence the PE seems overstated. Jamaican Teas earnings from continuing operations is 44 cents, with the stock priced at $4.10 the PE is around 9 and Pulse appears lowly valued but may require a lot of convincing of the market that that is the case, with a lot of its profit coming from real estate valuation gains and bartering arrangements.
Stock splits, create more liquidity in the stocks of companies that undertake them. Investors in the Jamaican market have driven most of the stocks that have split to full valuation and pushed the vast majority to be amongst the highest valued on the market.

Paramount in Top 5 stocks to avoid

Paramount Trading is selling at a PE of 17 & is now in the TOP stocks to avoid for now.

Paramount Trading is selling at a PE of 17 & is now in the TOP stocks to avoid for now.

In a market that has stocks selling well below those with the highest valuation currently, based on 2016 earnings, investors should be focusing on stocks with lower valuations and avoid for now, the more pricy ones.
In certain cases it is not that some of the highest valued stocks will not perform well going forward. This may not be the time to buy them, as they are likely to underperform the overall market. A look at the performance of the TOP 5, reflects the situation very well.
Paramount Trading that has now entered the list to avoid, is the sole change, with Key Insurance moving out with recovery in profits in the September quarter. Paramount is the IC Insider’s TOP 5 best performer, rising with a gain of 181 percent since it entered the TOP list in September. Others to score big are, Access Financial Services with gains of 63 percent, Derrimon Trading up 58 percent, General Accident 50 percent followed by Jetcon with gains of 49 percent. Top 5 to avd 18-11-16In the main market Barita Investments is up 45 percent JMMB Group is up 38 percent and National Commercial Bank rose 27 percent. The stocks in the list to avoid have hardly moved in contrast to the TOP 5 selections with the best gain being 38 percent with the next best being Kingston Wharves with 7 percent.
With expansion plans, Honey Bun and Paramount could enjoy a good 2017, the stocks of the companies may take some time to really pay off, if bought now. With Honey Bun into its new fiscal year, first quarter results due by February 2017, could be strong and therefore be a fuel for higher price. Investors should keep their eyes on 2017 as the current year winds to a close and next year having much opportunities for profitable investment, and what may appear pricey now could be attractive in 2017 as companies enjoy more growth.

Quick about turn at Key Insurance

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Natalia Gobin-Gunter Chairman and Deputy Managing director inserting name strip to indicate listing of Key Insurance on the junior market.

Natalia Gobin-Gunter Chairman and Deputy Managing director inserting name strip to indicate listing of Key Insurance on the junior market.

Key Insurance recovered from a loss of $21 million in the June quarter to a profit of $84 million in the September quarter, up from a loss of $284,000 in the 2015 third quarter and also reversed the loss in the six months to June this year of $18 million.
The second quarter was negatively affected by an Insurance claims of $747 million compared to just $82 million in 2015 for the same period. In the September quarter the insurance company benefited from a positive turn around for claims.
The claims experience in the second quarter forced the company’s management to review the insurance claims and reserves quarterly rather than annually in the past. The end result is that claims seem to be back to normal in the third quarter with a net recovery in claims of $228 million as opposed to an expense of $193 million expensed in 2015.
Nine months profit ended at $66 million compared to $68 million for the 2015 period and seems set to reach $120 million for the full year, for earnings per share of 35 cents. At this level of earnings, the stock has a PE of 6, the lowest in the junior market.
Key generated net premium income of $166 million up 25 percent over 2015 and $451 million for the nine months, an increase of 28.5 percent. Administrative expenses rose from $77 million in the 2015 third quarter to $100 million in 2016 and for the nine months to $281 million from $220 million.
The stock last traded at $2 on the junior market of the Jamaica Stock Exchange.

Stock split consideration for Eppley

eppleyThe directors of Eppley Limited will meet on Thursday, November 10, 2016 to consider the payment of an interim dividend to stockholders and a stock split.
Eppley last traded at $735 on the junior market of the Jamaica Stock Exchange. Since listing in July 2013, the stock has traded infrequently, even after the number of issued ordinary shares, were increased this year, with the issue of additional shares by way of a rights issue. In May the company issued 487,703 new ordinary shares priced at $650 each, bringing the total ordinary shares outstanding to only 1,283,122 units.
Profit for the June 2016 quarter amounted to $29 million $40.5 million for the half year, up from $22.5 million for the six months to June 2015.
The company is primarily in the business of insurance premium and lease financing.

Medical Disposables up 52% exits TOP 5

Blue Power enters TOP 5 list.

Blue Power enters TOP 5 list.

Medical Disposables exited the IC Insider’s TOP 5 junior market list, with gains of 52 percent since it entered the list on September 9, at the number 1 spot. The stock rose to $5.62 during the past week but ended at $5.39.
Blue Power enters the list for the first time, with the price having fallen in the week to $20.50. Profits after tax increased by 101 percent to $37 million over the previous year. The contribution of Lumber Depot division to the after tax tally was $17 million ($7 million in 2015), while Blue Power division added $20 million ($12 million in 2015). Earnings per stock unit for the quarter doubled from 33 cents to 66 cents. Sales revenues rose 12 percent, from $302 million to $339 million. Gross profit margin climbed to 24.3 percent in the quarter from 21.3 percent in the similar quarter of 2015 and 20.82 percent for the last fiscal year.
Paramount Trading entered at the number 3 spot at $14, gained 71 percent having shot up to $24 and exited in the top list on the week ending September 16, Derrimon Trading entered with the price at $3.10 and hit $5, for a gain of 61 percent, the stock exited the list during the week ending October 14. General Accident entered the list at $2.10 for the week ending September 23 and has gained 43 percent, the company left the list during the week ending October 7.
 Watch NCB for the break out that is coming soon.

Watch NCB for the break out that is coming soon.

The TOP 5 main market stocks have seen only one change since the start. JMMB Group entered at $10 and now sits at $13.50, just below the Top 5. During the past week, Caribbean Cement closed at $33 and move to number 2 spot but Barita Investments slipped in price and took over the number 1 spot. The company reported a small loss of $81 million in the September quarter, having suffered a reduction in revenues in the order of $950 million with the year to date results coming in at $973 million or earnings per share of $1.14 versus $1.5 billion or earnings per share of $1.75 in 2015. Based on the latest results, the stock price is unlikely to move higher in the short term and may well pull back but investors ought to be focusing on results in 2017 when the restructuring of the company’s operations are fully reflecting in the results. Berger Paints rose to $6 and dropped to 4.
Just below the TOP 5 junior market stocks are tTech, Dolphin Cove, Medical Disposables, Jamaican Teas and Caribbean Cream.
In the main market stocks below the Top 5 are JMMB Group, followed by Palace Amusement, Sterling Investments, National Commercial Bank (NCB) and Pan Jamaican. Technically, NCB is at a break out point accordingly, investors should keep an eye on this one as the next move could be sharply to the upside with final year results due shortly. In 2015, the full year results were released on November 12, as such the results for 2016 could be out on November 10.

Caribbean Cement tops Top 5

CCC Gte Jetcon Corporation and Caribbean Cement sit atop the IC Insider’s Top 5 stocks with the best chance of rising on junior market and main market of the Jamaican Stock Exchange at the end of last week. Both stocks just edging out the number 2 by just a few points.
There were no new entrants in either lists but Caribbean Flavours swapped place with Medical Disposables that now sits at the number 5 spot. In the main market selections Caribbean Cement changed spots with Berger Paints with the latter enjoying a slight price gain while Cement suffered a mild decline in price. AMG Packaging last traded at $21 and seems a candidate for a stock split with limited supply and inadequate liquidity of the stock. Top 5 stks 21-10-16Blue Power that last traded at $24.50 and is outside the Top 5, is also in category of a potential stock split.
Derrimon Trading sits just below the Top 5 junior market stocks followed by Dolphin Cove CAC 2000, tTech and Caribbean Cream that dropped sharply this past week to $7.
Sitting below the Top 5 in the main market are, Palace, JMMB Group, National Commercial Bank, (NCB) Sterling Investments and Pan Jamaican Investments. Feedback from the market, is that NCB is in strong demand against a background of very limited supply and the price being severely undervalued.

Paramount best Top 5 performer

Paramount Trading having closed on Friday at $23.95 ended up as to top performing stock since IC Insider started the Top 5 selection list. Top 5 perf 14-10-16All selections recorded gains since they were identified as top stocks.
For the week ended on October 14, Jetcon Corporation emerged as the leader of the list of junior market stocks with the greatest potential gains followed by Access Financial Services, Derrimon Trading rose to over $4 and slipped off the list at the end of the week. Knocking at the door of the list are tTech and Dolphin Cove followed by Derrimon Trading.
Main market stocks all remained in the Top 5 but with changes in position with Barita Investments moving down to number 3 with the price moving to $4.65 and Berger Paints holding the top spot. Sitting just below the Top 5 are Palace Amusements. Top 5 stks 14-10-16JMMB Group, National Commercial Bank, Mayberry Investments and Sterling Investments all with potential gains over 100 percent.
IC Insider started the Top 5 selection as of September 9 and with just over a month having passed IC Insider looked at the performance of all the selections. Paramount Trading topped the list with a gain of 71 percent followed by 31 percent for Derrimon Trading and 27 percent for Medical Disposables in the junior market and a 48 percent gain for Barita Investments followed by a gain of 35 percent for JMMB Group.

Stock split for Paramount Trading

Paramount puts stock split resolution to AGM in October.

Paramount puts stock split resolution to AGM in October.

Paramount Trading is putting a resolution for a sub-division of share capital at its upcoming annual general meeting slated for Saturday October 29.
No recommendation is being put to the shareholders as to the level of the split. The timing and extent of the split is proposed to be left for the directors of the company to determine. The resolution included on the agenda of the annual general meeting and included in the company’s annual report states: “That each of the issued ordinary stock units in the capital of the company be sub-divided in accordance with the Articles of Incorporation of the company, into such number of stock units as may be prescribed by the Board of Directors.”
Based on the current stock price of $17.50 and lack of supply, the split seems likely to be in the order of 5 or 6 to 1. The top 10 shareholders of Paramount own just over 95 percent of the 154.24 million shares issued by the company.

RJR & General Accident in Top 5

JM indxPrices on the Jamaica Stock Exchange are on the move again as the last quarter of the year approaches. As prices rise so does the PE ratio. The top PE in the main market is at 17 while in the junior market is around 18.
Charts of both markets show them in a bullish state, with the markets hitting higher lows and higher highs, a strong indication that they will be moving higher. More than 50 percent of main and junior market stocks are priced below the markets average PE of 9.5 and 10.4 respectively.
Against this background, IC Insider’s Top 5 selection has one new listing in the main and junior market list as Grace Kennedy and Jetcon Corporation are replace by Radio Jamaica and General Accident in position 5 and 4 respectively. Jetcon hit new highs during the week and closed at $4.70 up from $4.35 at the start of the week. Radio Jamaica earnings have been upgraded to 25 cents per share with increased revenues and cost cutting. General Accident is not without risk but earnings for 2016 are up 155 percent against a battered first half of 2015 and 2016 should better the 31 cents earned for the 2015 financial year.
AMG Packaging remains at the top of the junior market list even as the price moved up while JMMB Group is atop the main market with Caribbean Cement drops to 4th with a rise of $4 during the week. Investors attempted to trade Carib Cement at $34 but market breaker stop it from standing the stock which closed at $30 traded as high as $32. There are just six offers in the market starting at $34 and worth keeping an eye on this one for more gains this week. Barita Investments traded up to $4 during the past week and could well end back at this level during the days ahead as supply declines and demand increases.
Top 5 stks 24-9-16Watch these stocks for action this week – Access Financial Services with the bid at $18.50 with no stock on offer, Blue Power with a wide gap between bid and offer, Cargo Handlers with the bid moving away from the last sale price of $86.10 with the offer at $100. Caribbean Cream with increasing demand, Caribbean Producers gaining support after poor full year results, Derrimon Trading and General Accident with bids getting stronger, Jetcon Corporation with supply and increasing interest, Medical Disposables and tTech with supplies.
From the main market the main action could come from the following, Barita Investments, Caribbean Cement, Jamaica Stock Exchange, JMMB Group, Radio Jamaica, Sagicor Group, Scotia Group, Seprod and Sterling Investments.

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