Friday, 20th September 2013 | There were three main movers in the PE Ratio chart for this week.
First Citizens Bank which debut on the TTSE on Monday at $22 per share exploded as high as $38.45 before settling around $35 range for a gain of 58 percent for the week.
The move reached IC Insider’s suggested price range based on the valuation of other banking stocks on the TTSE. From here on, the stock is now more for long term gains as the PE ratio has risen to 23 times this year’s earnings, just above Scotia Bank and well above Republic’s 15 times PE.
The other stocks that registered changes were Trinidad Cement, which bounced back to close at $2.25 and Guardian Holdings that hit $15.50 at the end of the week. Not much has changed elsewhere in the Trinidad market from last week.
Related posts | First Citizens off Buy Rated list
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