Trading ended with mixed fortunes for the market with 10 losing stocks and 8 winners on the Trinidad and Tobago Stock Exchange and closed the week with the All Trinidad and Tobago Index rising moderately and the Combined Index just slipping.
The average PE ratio of the market closed at 7.74 based on 2023 earnings and 5.6 based on estimates of the 2024 earnings. The difference illustrates the market’s current undervalued level and the potential gains ahead.
In a week that ended with some stocks posting solid gains, Scotiabank rose $1.85 to $56, First Citizens Bank rallied 49 cents to $41.50 and Ansa Merchant Bank gained 25 to close at $41.50.
Republic Holdings slipped 36 cents to $113.14. Ansa McAl lost 64 cents in closing at $57.35, Angostura Holdings dropped 84 cents to $14, Endeavour Holdings shed $2.85 to $16.15 and Trinidad and Tobago NGL.
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 340 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 290 percent.