Market watch spotlight on Junior Market

July 29, 2019 by

The focus this week is the entire Junior Market that remains severely undervalued, notwithstanding that it made up much-lost grounds in the past week. The Lab is the first stock to watch from this sector.
NCB Financial third-quarter results were far from inspiring with operating profit being lower in the quarter than for the prior year’s results, at the close on Friday there was good selling on offer that seems likely to keep a lid on the price for a while.  NCB reported Operating profit of $6.46 billion in the June 2019 quarter, down from $8.14 billion in 2018. A $700 million net gain in associated company results eased the difference somewhat.
Barita Investments is back at the record high of $83 it closed at the close on Friday, up from $72 at the end of the previous week. Importantly, supply has mostly dried up except for a block of 1 million units offered by Barita at $98 per share. Shareholders passed the resolution at last week’s extraordinary general meeting for a rights issue that will see 106 million shares or around one for every 15 shares of shares owned offered to shareholders, at an expected price in the $40 region.

Barita eyeing acquisition.

Results for Caribbean Cement are out by but reports indicate that the company reported increased sales for the June quarter but lower profit than in 2018, due mainly to $485 million incurred as foreign currency losses. The company reported 43 cents per share versus 79 cents in the similar quarter in 2018. For the half-year, Carib Cement reported earnings of $1,79 compared to $1.18 in 2018. The company looks like earning $5 per share for the full year with increased second-half sales. Do not look for the price of the stock to move up any time soon, with these results
Jamaica Broilers and Jamaica Producers may not break out just now but there is very limited selling and good news could push them higher at any time. Investors who thought that the sky was the limit for Wigton Windfarm may be having second thoughts with the company posting their full-year results, with earnings excluding foreign exchange gains or losses working out at 5 cents per share going forward. The stock seems poised to remain under $1 for a long time. More selling came for Radio Jamaica in the past week but with first-quarter results due mid-August, the stage could be set for a break beyond the $1.40 price level.
Sygnus Credit Investments is coming into its own with a limited supply of the stock for sale, the price closed at a record high at the close of the past week and may and could move higher this week. investors should continue to watch it. Wisynco Group traded close to $30 in the past week pushing the PE up considerably. It could settle just below the $30 range for a while.

Drax Hall branch of Elite.

The Junior Market finally found its footing in moving solidly higher during the past week to within less than 100 points from the previous record high in 2018. With the entire market severely undervalued, just about all stocks are to be watched. Some are more attractive than others and should enjoy a greater focus.
Blue Power closed on Friday with strong buying interest that suggests higher price ahead arising from a proposed split-up of the company into two separate ones. Caribbean Flavours has a limited supply of stocks for sale and is worth watching. Fontana pulled out of the fall to $7.41, in the previous week as demand pushed the price over $8. The branch in Kingston could influence investors to add the stock to their portfolio. Elite Diagnostic with rising demand and slowing supplies could bounce, having traded at $5. The company’s new Drax Hall branch in St Ann is set to open in August and will add to revenues and profit at a later stage. Elite has more than 387,000 units on offer at $5 and that could constrain upward price movement for some time. Jamaican Teas reported nine months results of 32 cents per share compared with 20 cents last year. Investors reacted positively to the results pushing the stock up to $5, but supply on sale is limited and could encourage more price movement this week. Lasco Financial price bounces around $4.50. The stock is undervalued and should see increased buying interest, with release of June quarter results, due out shortly. In 2018, first-quarter results were released on the 17 of July. Lasco Manufacturing released first-quarter numbers on the 31 of July last year and Lasco Distributors released theirs on the 19. The results could move the price of the stocks higher. Limners and Bards climbed 30 cents to settle at a record high of $1.30 with just 100 shares changing hands on the first day of trading, the stock closed with the bid at $1.65 and looks poised to hit $2, the stock was on offer at $2.95 at the close on Friday. Medical Disposables looks poised to move higher and first-quarter numbers will play an important role in further gains and Stationery and Office Supplies hit a record of $12 during the past week and should move higher with little supply offered for sale.

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Market Watch spotlight on NCB

July 22, 2019 by

NCB Financial third results are due on Thursday that could determine the direction for the stock on Friday and into the week following, as such this is the prime candidate to watch.
Barita Investments pulled back from the record high of $83 at the close of the previous week to $72 with good volume changing hands. Barita released details of the resolution for the extraordinary meeting for the proposed rights issue that will amount to 106 million shares that works out at one share for each 15 held.
Results for Caribbean Cement should be out by the weekend but reports indicates that the company announced local sales of 950,000 tonnes for 2019 that would represent an eight percent increase over 2018. That increase plus price increases implemented last year along with cost reduction will result in a big boost to profit.
Neither NCB or Carib Cement, have much volume of stocks selling currently, accordingly positive results could move them higher. Jamaica Broilers and Jamaica Producers may not break out just now but there is very limited selling and good news could push them higher at any time. Jamaica Stock Exchange closed at a 52 weeks’ high of $38 on Friday but there is little volume on sale and that could encourage more gains for the stock, especially as some investors equate increased trading volume since Wigton  Windfarm was listed, with increasing revenues and profit for the exchange. Radio Jamaica hit a 52 weeks’ high of $1.40, on Friday on increased buying interest but some selling came in to move the price down to $1.24. At the close just over 1 million units were on sale at $1.24.

Caribbean Cement Q2 results expected before end of July

Sygnus Credit Investments is coming into its own with limited supply of the stock for sale, the price retreated during the past week and may not move much in the week, investors should continue to watch it. Wisynco Group came back into the spotlight with demand pushing the price to a record high at $21. At the close on Friday, there was limited volume on offer that could result in more gains for the stock.
Blue Power has just one offer on sale at the close on Friday but buying has increased with the proposed split up of the company into two separate ones. Caribbean Flavours has limited supply of stocks for sale and is worth watching. Fontana hit at a new high of $9 on Friday, but selling pushed the price down, to close at $7.41, but the price may fall further before resuming its upward climb with the pending opening of the new Kingston branch, in September. Stationery and Office Supplies still has little supply offered for sale and could break over the $10 barrier at any time, especially with the June quarter results due out in weeks. Elite Diagnostic with rising demand and slowing supplies could bounce, having traded at $5. The company’s new Drax Hall branch in St Ann is set to open in August and will add to revenues and profit at a later stage. Elite has more than 387,000 units on offer at $5 and that could constrain upward price movement for some time. Lasco Financial price bounces around $4.50. The stock is undervalued and could see increased buying interest, ahead of the June quarter results that could be released at any time, In 2018, first quarter results were releases on the 17 of July. Lasco Manufacturing released first quarter numbers on the 31 of July last year and Lasco Distributors released theirs on the 19. The results could move prices of the stocks higher.

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Watch Barita Investments again

July 15, 2019 by

Barita Investments headquarters

Barita Investments rose sharply last week to close at a record high of $83 after posting blockbuster quarterly results, the price could climb higher and is still one to watch.
NCB Financial continues to create waves and seems poised to move higher over the coming months with the next quarter’s earnings due out next week. Investors are eagerly awaiting them.
Caribbean Cement failed to break higher during the past week, with results for the June quarter due out at the end of July, investors could get an incentive to buy the stock more aggressively.  Sygnus Credit Investments is coming into its own with limited supply of the stock for sale. Wisynco Group came back into the spotlight with demand pushing the price just under $20.
Fontana that continues to trade around $6, seems poised to slowly move higher as the new Kingston branch, moves closer to opening in September.

Wisynco came into inctreased buying in the past week.

Stationery and Office Supplies still has little supply offered for sale and could break over the $10 barrier at any time, especially with the June quarter ended. Elite Diagnostic with rising demand and slowing supplies seems set to bounce, having traded at $5. The company’s new branch in St Ann is slowing being built just outside of St Anns Bay at Drax Hall and may not be far from completion. Elite has more than 418,000 units on offer at $5 and that could constrain upward price movement for some time, if the selling remains during the week. Lasco Financial price bounces around $4.50. The stock is undervalued and could see increased buying interest, ahead of the June quarter results.
A number of other companies will be releasing 2019 second quarter results, between this week and mid- August that could move prices.

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Watch this one – RJR Group

July 15, 2019 by

Investors should be watching keenly developments at Radio Jamaica as the company seems poised for a turnaround in its fortunes.
The company today reported to the Jamaica Stock Exchange that a connected party purchased 26.5 million of the company’s shares on July 5, 2019. The trade took place at $1.03 and is very significant, sending a strong message of the group fortunes ahead, but few are watching this one. The RJR purchase may not mean much to most, but IC Insider.com assessment of recent results suggests otherwise.
In November last year, IC insider.com posted an article, captioned “NCB Insiders sending a powerful message.” The article highlighted the fact that some directors and executives at NCB Financial Group see big things ahead, to have put down $650 million in buying a block of 4,793,610 shares close to the highest price it traded at in recent times. Since then the stock rose from $136 to more than $200 for a gain of 47 percent, with more to come.
RJR Group, reported profits that more than doubled in the December quarter from $79 million to $168 million on revenues that climbed from $1.39 billion to $1.5 billion but for the year to March this year, the group reported a small loss of $22 million thus reversing the profit of $34 million at the end of December 2018. Operating revenues rose an attractive 9.7 percent in the March quarter to reach $1.29 billion, segment results show that revenues grew 5.3 percent for television, 7.4 percent for radio and 8.2 percent for print in the March quarter over the prior year’s March quarter. Some cost incurred in the 2019 fiscal year will not repeat in 2020, while income as a result of the World Cup football, will not recur. The group lost around $40 million in doing world cup coverage and that loss will disappear in 2020. RJR ended the year with shareholders’ equity of $2.35 billion, borrowings of $387 million. Current assets amounted to $1.5 million with cash funds at $448 million and current liabilities at $662 million. In spite of the loss for the fiscal year, gross cash inflows amounted to $485 million.
The gains in revenues are an important message about future income and a very good indication that the 2020 fiscal year should be a profitable one. The purchase of the block of shares when coupled with growth in revenues seems a positive indicator of what to expect for 2020.
There are a few other indicators as well. Some entities placing advertisements in the Gleaner faced cancellation as a section of the paper attracted increased business that they had to turn away advertising and that seemed to have gone on for weeks in the June quarter. Faced with a growing economy with sales rising as well as increased competition companies will spend more on advertising to move more products and services, a trend that should continue going forward. Of significance, is that GDP growth in the first quarter of 2019 is 21 percent faster than in the same period in 2018 if this trend continues for the rest of the year growth would be in the 2.5 percent level or more. That would mean more advertising dollar spend and the RJR Group is in a good position to benefit from that going forward.
IC Insider.com projects 15 cents per share in earnings for 2020 with the stock that traded at $1.10 on the Jamaica Stock exchange on Friday, is now at a PE of just 7, well under the market average of 15.6.

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Watch Barita Investments

July 8, 2019 by

Barita Investments headquarters

NCB Financial dropped to $173 on Friday with a large volume trading but bounced to last trade at $188.  The stock may not break out of the $190 range for now but it is worth watching for future developments.
Others worth watching this week include Barita Investments with results that could be released by the end of this week or early next week. The results should be showing a big improvement over that of the similar period in 2018. The third quarter results, is rumored to be far better than the second quarter, that will be known in a few days. Importantly, the second quarter earnings posted as 65 cents should be 90 cents per share instead, with earnings equivalent to $3.60 per annum. Caribbean Cement appeared as if it was going to break higher than $80 during the past week, but did not and is worth watching this week as results for the June quarter is due out at the end of July and there is not an abundance of stock offered for sale.  Sygnus Credit Investments is coming into its own with limited supply of the stock for sale.
Caribbean Producers fell to $4.50 with buying interest around these levels and limited selling pressure. Fontana jumped to a record $6.50 this past week and that encouraged some selling to take place.
the stock remains the main attraction in trading.

Fontana upcoming Waterloo Road branch

Selling supplies remain relatively low at the close on Friday. Stationery and Office Supplies still has little supply offered for sale and could break over the $10 barrier at any time, especially with the June quarter ended. Elite Diagnostic with rising demand and slowing supplies seems set to bounce, having hit a new high on Friday. Lasco Financial price was cut down to $4.10 on Friday, but bounced back to the close at $4.50. The stock is undervalued and could see buying interest building, in the days ahead.
A number of other companies will be releasing 2019 second quarter results between this week and mid August that could move prices.Most of these stocks are in the Junior Market.

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Watch Barita with a new rights issue

July 3, 2019 by

Barita eyeing acquisition.

Barita Investments is planning another rights issue to raise new capital that is being earmarked IC Insider.com gathers to fund a major expansion.
A Directors meeting is set for Thursday, July 11, at which they will consider the recommendation of a rights issue to the company’s ordinary stockholders.
IC Insider.com gathers that the issue will be fully underwritten but will likely be renounceable which means shareholders will be able to sell their rights if they want to.  The terms and conditions are likely to be approved at an extraordinary meeting of shareholders to be convened by August.
The price has not yet been set but there is a view that it will be at about around 30 percent to the then market price. There are views suggesting that the nine months’ earnings are likely to be boosted by a sharp bounce in the company’s investment portfolio, courtesy of a booming stock market, increased fee income and a rise in fees from a growing unit trust portfolio that is benefitting from the buoyant stock market and pulling in new investors. Strong gains from investment banking activities are said to be major factors driving revenues and profit, the result of several deals that were finalized during the June quarter. IC Insider.com also gathers that foreign exchange trading has also ballooned and brought in much more income than previously.

Barita Investments headquarters

Importantly, our source is suggesting is that the rights issue that should bring in around $4 billion in fresh capital is primarily targeted to fund an acquisition that have Caribbean while locations and will make a big impact on profitability when fully integrated into the existing structure, if the deal goes through. IC Insider.com had projected the earnings for 2019 at $3 per share> With the consolidated of operations and acceleration in earnings that seems to be taking place starting with the second quarter earnings for the full year is most likely to exceed the above forecast handily. If that happens then the stock could be trading in the $60 region before too long after the third quarter numbers are released later this month.
The third quarter report shows total assets jumping to $27.7 billion from $16 billion at the end of March 2018 with equity capital at $7.8 million up from just $2.9 billion at the end of March 2018. Revenues net of interest expense more than doubled in the March 2019 quarter to $770 million from $329 in 2018 and profit rising to $408 million for the quarter compared to just $88 million in the 2018 quarter.  For the half year net revenues grew to $1.16 billion from $490 million in 2018 and profit rose to $517 million from $49 million.

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Wigton Windfarm heading for 90c

June 24, 2019 by

Wigton Windfarm is slowly moving higher and seems poised to hit 90 cents this week but the real big news is that last week’s performance was a whopper, with a number of last weeks’ Watch List scoring big.
On Friday alone, NCB Financial Group gained a whopping $18.99 to close at $198.99 and Scotia Group gained $4, to close at $59.50. For the week, NCB gained $25 and Scotia $7.25. Sagicor Group came in for some of the increased buying interest, with the planned takeover of the majority of shares in Advantage General Insurance from the NCB Group with the price jumping $3.99 in the week.
Sagicor ETF Fund is now officially seeking fresh capital, some of the big financial stocks could get a further lift as the fund is based on the Jamaica Stock Exchange Financial Market Index.
The gains for the IC Watch list do not end there, on a week that saw the main market All Jamaica Index rocket up 26,698.47 points and the Junior Market falling 16.6 points.

National Commercial Bank pays very low savings rates

Wisynco Group is trading around a PE of 20, based on estimated June 2019 year-end figures. The stock has come in for some selling last week and may trade under $20 for a while. It has the potential to go much higher with more than $1.50 earnings per share expected for the new-year, starting in July.
Barita Investments continues to enjoy strong buying interest as the price firms up around the $45 level and could yet move higher in coming days or weeks. Investors should note that Barita is set to benefit from the upsurge in stock prices since the end of the last quarter, directly as they own listed shares, from increased fee income as a broker with rising trading volumes and from increased fees at the equity linked Unit Trust with increased asset value. As indicated last week, Eppley seems to have demand that should push the price higher during the week as the company is getting set to launch the IPO for the Eppley Property Fund. The stock hit new highs during the week and is worth watching this week. Sygnus Credit Investments did not do much but demand was good for the stock during the past week. Sygnus is a component of the JSE Financial Index, will be one that the Sagicor Fund would mostly add to their holdings. Supplies of Grace Kennedy and Jamaica Producers stocks are very low, but buyers are not aggressive currently.
In the Junior Market, CAC 2000 should be heading for gains with the April quarter profit showing marked improvement over the previous quarter. Elite Diagnostic traded at $4 during the past week and continues to find buying interest around this price.

The new Waterloo Road branch under construction.

Lasco Financial dropped to $4.80 last week, and has just over 1 million units on offer at the last sale price of $4.80 and should move back up once this block is taken out. Lasco Manufacturing has the potential to move higher in the coming weeks. Fontana supply is falling with just a few offers posted at the close on Friday. Honey Bun, Main Event Medical Disposables, Paramount Trading all have potential to rise in the coming weeks. Demand for Stationery and Office is not aggressive currently, but the supply is very short, suggesting it is only a matter of time before the price moves much higher.

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It’s Wisynco, Wigton, NCB & Scotia

June 17, 2019 by

Wisynco Group hits a new high of $19.50 on Friday, up from $16.50 at the end of the prior week as supply remains light and demand picked up considerably, the stock continues on the watch list this week.
Based on full year’s results, Wisynco trading around a PE of 20, may be considered high priced by some, but with interest rates so low in the country, investors should be focusing on the more than $1.50 earnings per share expected for the new-year, that starts in July. At the close on Friday, demand was building strongly at $18 and above.
Wigton Windfarm is slowly crawling its way back into the 80 cents range with the stock trading at 80 cents on a number of occasions on Friday, as selling and supplies below 80 cents eased sharply.
NCB Financial seems to be hovering around the $173 level but has a lot of appeal for many investors as they view the future positively. Last week IC Insider.com added Scotia Group as one stock that should be on everyone’s watch list with the release of second quarter results to April.

Scotia Group hiked dividend.

The banking group announced a big dividend increase that included a special dividend of $1.94. Profit performance was nothing write about but the company later reported that cost included more than $1 billion in onetime expenses as they seek to reduce cost and provide customers with a more friendly banking experience.
Barita Investments continues to enjoy strong buying interest as the price firms up around the $45 level and could yet move higher in coming days or weeks. 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. The announcement that Sygnus Credit Investments borrowed $600 million and plans on raising more, coupled with good third quarter results continue to drive interest in the stock.
CAC 2000 reported profit for the April quarter that shows marked improvement over the previous quarter, suggesting that business is returning to more normal levels from disruption to the operations caused by major road works, in the area of the business. Elite Diagnostic pulled back to $3.85 during the past week but continues to find buying interest around $4 with the promise of earnings of more than 60 cents for the next fiscal year starting in July, that is likely to be the catalyst for more interest in the stock. Fosrich remains on the Watch List along with Lasco Financial that has seen buying interest over $5. Lasco Manufacturing posting of strong full year results with impressive fourth quarter numbers is driving new interest in the stock. Main Event posted good second quarter results with profit rising 29 percent in the quarter and promise of good 2019 results that should encourage increased investors interest. Watch.

Main Event revenues profit growing nciely.

Investors’ interest continues for the Medical Disposables with prospects for continued strong growth in its operations. Paramount Trading stock has been on the back foot for more than a year, with the start of the new financial year, the prospects for vastly improved profit, that IC Insider.com preliminarily places at 15 cents per share, will start to influence the stock price. Demand for Stationery and Office is not aggressive currently, but then supply is very short, suggesting it is only a matter of time before the price moves higher.
Investors should continue to keep eyes on Fontana, Honey Bun, Jamaica Producers and Sagicor Group.

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More watching for NCB Financial

June 10, 2019 by

NCB Financial Group still in strong demand.

Investors continued to push both the stocks higher in the main and Junior markets this past week as results for a number of companies encouraged increased buying.
Last week IC Insider posited that NCB Financial seems to have broken through resistance at the $150 level. The $165 region where the stock trades is also a resistance area but the strong buying at this price point, suggests it is poised to move higher, with $190 being the next point of resistance. Investors pushed the price to an all-time high of $184.85 on Thursday before it pulled back to $169 and closed the week at $170.02. A lot of focus is on this stock with the closing bid and offer suggest it is one to continuing watching. One stock that should be on every one’s watch list is Scotia Group that will release second quarter results to April this week.
Barita Investments continues to enjoy strong buying interest as the price firms up around the $45 level and could yet move higher in coming days or weeks. 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. The announcement that Sygnus Credit Investments borrowed $600 million and plan on raising more, coupled with good third quarter results is driving new interest into the stock.

Wisynco hit a new high last week as supply of the stock dried up.

Wisynco Group posted a new high of $16.50 on Friday as supply dried up. Some selling came in towards the close, but this one is heading higher over the next few weeks as investors start to focus on the more than $1.50 earnings per share expected for the new-year that starts in July.
Elite Diagnostic is finding interest now at $4 with the take out of supply below after March quarter results send positive message about future profits. While the current year that ends in June should realize earnings of 25 cents, it is the promise of more than 60 cents for the next fiscal year that is likely to be the catalyst for more interest in the stock. During the past week, Fosrich jumped to a record high of $6.50 but pulled by the close on Friday to end at $5.20, but with an offer to sell 32,166 shares at $4.98. Lasco Financial has seen buying coming in that drove the price over $5, and could move higher this week with the promise of increased profit for the current 2020 fiscal year. Lasco Manufacturing posted strong full year results with impressive fourth quarter numbers. The company’s profit performance encouraged more buying during the past week, with 6.75 million shares trading on Friday. Investors still wanted more, with the bid closing at $3.98 versus the last traded price of $3.91. Investors may find the $8 price for the Medical Disposables stocks on offer, pricey, but the full year’s results telegraphed a powerful message about profits to come that makes the stock still attractive at this price level. Expect demand to pick up in the future for this stock as the company continues to grow attractively.

Paramont trading could surprise.

Paramount Trading stock has been on the back foot for more than a year, with the start of the new financial year, the prospects for vastly improved profit, that IC Insider.com preliminarily places at 15 cents per share, will start to influence the stock price. At the close on Friday, the stock that traded at $2.29 has a bid of $2.10 with the offer at $2.50 and may be signaling that selling is mostly exhausted at these levels. Demand for Stationery and Office is not aggressive currently, but then supply is very short, suggesting it is only a matter of time before the price moves higher.
Investors should continue to keep eyes on Jamaica Producers, Sagicor Group and Honey Bun.

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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.

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