The Trinidad and Tobago Stock Exchange closed the week with just 2 points lost in the major market indices but with prices of 10 stocks falling and six rising following last week that ended with 7 stocks rising and 5 declining. Guardian Holdings, One Caribbean Media and Republic Financial closed on Friday at 52 weeks’ lows.
Trading left the PE ratios of the majority of stocks to be very attractive with big upside gains ahead.
The average PE ratio of the market is 10.7 compared to 5.4 based on the current year’s earnings. The huge difference between the two shows the undervalued level of the market currently is and the extent of the upside that lies ahead.
The only winning stocks of note for the week is Scotiabank up 35 cents to $56.35. Ansa McAl gave up the $2.79 gained last week to close at $60. Angostura Holdings lost 50 cents to end at $16 and West Indian Tobacco fell 35 cent to $6.15, a 52 weeks’ low.
Several stocks could gain more than 100 percent when the market comes back to life, these include, First Caribbean with a possible gain of 250 percent, Guardian Holdings at 500 percent, Republic Holdings at 120 percent, Massy Holdings at 120 percent, Trinidad Cement with 270 percent, Eric Solis 400 percent and One Caribbean Media with 300 percent.